Probe Mines Limited

Borden Lake

Show printable version of 'Borden Lake' item in a New WindowEmail 'Borden Lake' item to a friend
 

Updated NI43-101 Resource Estimate April 2012


Highlights:

- Borden Lake gold zone estimated to contain a Global Indicated Resource of 4,051,000 ounces of gold averaging 0.71 g/t gold and an additional Inferred Resource of 1,796,000 ounces of gold averaging 0.62 g/t gold, at a 0.3 g/t cut-off grade;

- Borden Lake gold zone estimated to contain a Pit Constrained Indicated Resource of 2,735,000 ounces of gold averaging 1.04 g/t gold and an additional Inferred Resource of 683,000 ounces of gold averaging 0.93 g/t gold, at a 0.6 g/t cut-off grade;

- Borden Lake gold zone estimated to contain a distinct, higher-grade zone with an Indicated Resource of 1,498,000 ounces of gold averaging 1.46 g/t gold and an additional Inferred Resource of 407,000 ounces of gold averaging 1.30 g/t gold, at a 1.0 g/t cut-off grade;

- Increase of 1228% in the Indicated category from the Initial Global Resource Estimate, from 305,000 ounces to 4,051,000 ounces of gold, at a 0.3 g/t cut-off grade. Indicated average grades consistently higher as compared to Inferred average grades;

- Overall increase of 44% in total contained ounces of gold from the Initial Global Resource Estimate, at a 0.3 g/t cut-off grade;

- The Borden Lake zone also contains a resource of 3,820,000 ounces of silver in the Indicated category, and 1,960,000 ounces of silver in the inferred category, at a 0.3 g/t gold cut-off grade.




The Updated Resource Estimates represent a rigorous evaluation of the drilling completed to the end of February 2012, and comprises results from 159 holes drilled on the Borden Lake gold zone since its discovery just 15 months ago. The results of the Updated Resource Estimate show significant improvement of the deposit in terms of upgrading the Resource category through the conversion of Inferred Resources into Indicated (up to 1228% increase); expansion of the deposit through addition of new Indicated and Inferred Resources (up to 44% increase); and delineation of a discernible higher-grade core (>1.4 g/t gold).

In all aspects, the deposit has shown enhancement from the Initial Resource Estimate and increased confidence in the gold mineralization, including significantly higher-grades in Indicated Resources compared to the Inferred. Owing to the effectiveness of the current resource estimation in improving the Borden Lake deposit, the Company is preparing to commence further studies in the form of a Preliminary Economic Assessment ("PEA") or Scoping study.

In an effort to provide continuity for investors from the Initial Global Resource Estimate (not constrained by a pit shell), the Updated Resource Estimate will be presented again as a Global Resource Estimate at the same cut-off grade (0.3 g/t Au); followed by a Constrained Resource Estimate (within a pit shell) at a higher cut-off grade (0.6 g/t Au); and a Global Resource Estimate focused on the higher-grade core of the deposit.

The latter higher-grade zone is an important aspect of the deposit not elaborated on during the Initial Resource Estimate, but distinguishes Borden Lake from many low-grade deposits. The higher-grade core zone, which is estimated from block modeling of the higher cut-off grades to contain an estimated Indicated Resource of 1,498,000 ounces of gold at an average grade of 1.46 g/t and an additional 407,000 ounces of gold at an average grade of 1.30 g/t gold in the Inferred category, provides the potential for a more robust mineralized zone within the deposit, which may have positive implications for the initial phase of any possible development scenarios.


Global Updated Resource Estimate

The Global Updated Resource Estimate, presented in the following "sensitivity" table at various cut-off grades shows, at the 0.3 g/t cut-off, an Indicated Resource of 4,051,000 ounces of gold averaging 0.71 g/t Au plus an additional Inferred Resource of 1,797,000 ounces Au averaging 0.62 g/t Au, representing an increase of 1,228% in Indicated Resource from the previous Inferred category in the Initial Resource Estimate and a 44% increase in the total contained ounces from the Initial Resource Estimate while maintaining a similar overall average grade.



Comparison of Updated and Initial Global Resource
Estimates (0.3g/t Au cut-off)
Resource Estimate Indicated (ozs Au) Inferred (ozs Au)
Updated (March 2012) 4,051,000 1,797,000
Initial (August 2011) 305,000 3,755,000



The following two tables summarize the Borden Lake gold mineral resource estimate in the indicated and inferred resource categories, respectively, at various cut-off grades. The figures are cumulative for each successive cut-off grade. An interesting feature of the Updated Global Resource Estimate is the difference between the average grades for Indicated and Inferred Resources, with Indicated average grades ranging between 12% and 16% higher than the Inferred, for all cut-off grades. It is expected that this trend of increasing grades will continue with further drilling and upgrading of the Inferred resources.

To maintain continuity from the previous Initial Resource Estimate, the Company is reporting the figures at the 0.3 g/t cut-off grade for the Updated Global Resource Estimate:

Global Indicated Mineral Resource Estimate
Cut-Off Au g/t Cumulative Tonnes Average Au g/t Cumulative Au oz Average Ag g/t Cumulative Ag oz
> 1.5 10,155,000 2.01 656,000 1 320,000
1 31,910,000 1.46 1,498,000 0.9 905,000
0.7 65,477,000 1.14 2,394,000 0.8 1,700,000
0.6 82,872,000 1.03 2,757,000 0.8 2,065,000
0.5 105,635,000 0.93 3,159,000 0.7 2,508,000
0.4 135,522,000 0.82 3,589,000 0.7 3,063,000
0.3 176,959,000 0.71 4,051,000 0.7 3,820,000
0.2 233,461,000 0.6 4,501,000 0.6 4,728,000
no cut 305,220,000 0.49 4,827,000 0.6 5,771,000


Global Inferred Mineral Resource Estimate
Cut-Off Au g/t Cumulative Tonnes 1,2 Average Au g/t Cumulative Au oz 1,2 Average Ag g/t Cumulative Ag oz 1,2
> 1.5 2,105,000 1.74 118,000 0.9 64,000
1 9,728,000 1.3 407,000 0.9 281,000
0.7 24,974,000 1.01 810,000 0.8 649,000
0.6 34,924,000 0.91 1,017,000 0.8 864,000
0.5 49,173,000 0.8 1,268,000 0.7 1,157,000
0.4 68,702,000 0.7 1,549,000 0.7 1,536,000
0.3 90,817,000 0.62 1,796,000 0.7 1,960,000
0.2 123,154,000 0.52 2,052,000 0.7 2,597,000
no cut 184,179,000 0.39 2,315,000 0.6 3,676,000


1. Tonnes and ounces have been rounded to the nearest thousand
2. Figures/numbers for resource tonnes and ounces may not tally due to rounding



The Global Resource also contains a resource of 3,820,000 ounces of silver in the Indicated category, and 1,960,000 ounces of silver in the inferred category, at a 0.3 g/t gold cut-off grade.



Constrained Updated Resource Estimate

For the Updated Resource Estimate, the Global Resource was constrained in a preliminary Whittle open-pit design. The preliminary pit was designed to a maximum depth of about 450 m, and contains an Indicated Resource of 2,735,000 ounces averaging 1.04 g/t Au and an Inferred Resource of 683,000 ounces averaging 0.93 g/t Au, at a 0.6 g/t cut-off grade. A 0.6 g/t cut-off was chosen in order to bring the overall average grade of the Pit-Constrained Resource to just over 1 g/t Au, which makes it comparable to many of the other known low-grade/bulk-tonnage deposits with reported Resource Estimates. The following table presents the constrained Resource Estimate for mineralization falling within the preliminary pit shell, assuming a gold price of $1,200 and a metallurgical recovery of 92%, amongst other assumptions further noted.


Pit Constrained Block Model View 1
Click on image to view enlarged



Pit Constrained Block Model View 2
Click on image to view enlarged















The Company is reporting the figures for the Pit-Constrained Resource Estimate at the 0.6 g/t cut-off grade:

Pit-Constrained Indicated Mineral Resource Estimate 3, 4,5
Cut-Off Au g/t Cumulative Tonnes 1,2 Average Au g/t Cumulative Au oz 1,2 Average Ag g/t Cumulative Ag oz 1,2
> 1.5 10,149,000 2.01 656,000 1 320,000
1 31,877,000 1.46 1,497,000 0.9 904,000
0.7 64,984,000 1.14 2,380,000 0.8 1,686,000
0.6 81,942,000 1.04 2,735,000 0.8 2,042,000
0.5 103,286,000 0.94 3,112,000 0.7 2,458,000
0.4 130,908,000 0.83 3,508,000 0.7 2,966,000
0.3 168,129,000 0.73 3,925,000 0.7 3,633,000
0.2 210,227,000 0.63 4,263,000 0.6 4,310,000
no cut 262,015,000 0.53 4,496,000 0.6 5,044,000



Pit-Constrained Inferred Mineral Resource Estimate
Cut-Off Au g/t Cumulative Tonnes 1,2 Average Au g/t Cumulative Au oz 1,2 Average Ag g/t Cumulative Ag oz 1,2
> 1.5 1,535,000 1.77 87,000 1 51,000
1 6,853,000 1.31 290,000 1 212,000
0.7 17,130,000 1.02 561,000 0.9 485,000
0.6 22,947,000 0.93 683,000 0.8 625,000
0.5 29,994,000 0.84 807,000 0.8 795,000
0.4 37,905,000 0.76 921,000 0.8 974,000
0.3 45,971,000 0.68 1,012,000 0.8 1,163,000
0.2 56,735,000 0.6 1,097,000 0.8 1,431,000
no cut 82,670,000 0.45 1,207,000 0.7 1,940,000


1. Tonnes and ounces have been rounded to the nearest thousand
2. Figures/numbers for resource tonnes and ounces may not tally due to rounding
3. Mineral Resources are estimated at a agold value of $1,200
4. No grade capping was required for the Resource Estimate
5. A bulk Density of 2.77g/cm3 was used

At the same 0.6 g/t Au cut-off grade the transition from the Global Resource to the Pit-Constrained Resource represents only a loss of 9% of the total contained ounces, and mainly at either end of the deposit. This suggests that the orientation of the Borden Lake gold zone, which is dipping at 45 degrees, is well suited for open-pit extraction. Continued drilling will focus on further delineation of the mineralized zone with a view to expanding the pit design along strike and at depth.


Higher-Grade Global Resource Estimate

The Borden Lake gold zone is characterized by a persistent higher-grade core surrounded by lower-grade mineralization. The deposit therefore lends itself to more detailed evaluation based on this apparent grade distribution. The deposit's block model at cut-off grades of 0.75 g/t and 1.0 g/t Au shows a distinct zone of higher-grade gold mineralization identifiable along the entire strike length of the deposit and at depth. This core of the Borden Lake gold zone contains an Estimated Resource of 1,498,000 ounces at an average grade of 1.46 g/t Au in the Indicated category and 407,000 ounces at an average grade of 1.30 g/t in the Inferred category, at a cut-off grade of 1 g/t Au.

The following block models at the 0.75 g/t and 1.0 g/t Au cut-off grades demonstrate the remarkable continuity of the gold mineralization.



Block Model @ .75 g/t Au Cut-Off
Click on image to view enlarged



Pit Constrained Block Model @ .75 g/t Au Cut-Off
Click on image to view enlarged




Block Model @ 1.0 g/t Au Cut-Off
Click on image to view enlarged



Pit Constrained Block Model @ 1.0 g/t Au Cut-Off
Click on image to view enlarged

















The higher grade mineralized zone may become an important feature in further studies of the viability of the deposit. The potential for exploitation of a higher-grade zone could provide alternative development scenarios which would be more realistically achievable and less sensitive to the parameters affecting most low-grade, bulk tonnage deposits.

The following table presents the Global Resource Estimate for this proposed higher-grade body, at cut-off grades between 0.75 g/t and 1.5 g/t Au. The Company is reporting the figures for the Global Higher-Grade Resource Estimate at the 1.0 g/t cut-off grade:

Higher-Grade Global Indicated Mineral Resource Estimate
Cut-Off Au g/t Cumulative Tonnes1,2 Average Au g/t Cumulative Au oz 1,2 Average Ag g/t Cumulative Ag oz 1,2
> 1.5 10,155,000 2.01 656,000 1.0 320,000
1 31,910,000 1.46 1,498,000 0.9 905,000
0.75 57,954,000 1.19 2,219,000 0.8 1,533,000


Higher-Grade Global Inferred Mineral Resource Estimate
Cut-Off Au g/t Cumulative Tonnes1,2 Average Au g/t Cumulative Au oz 1,2 Average Ag g/t Cumulative Ag oz 1,2
> 1.5 2,105,000 1.74 118,000 0.9 64,000
1 9,728,000 1.30 407,000 0.9 281,000
0.75 20,963,000 1.06 717,000 0.8 558,000


1. Tonnes and ounces have been rounded to the nearest thousand
2. Figures/numbers for resource tonnes and ounces may not tally due to rounding

In the Pit-Constrained Resource, the high-grade zone is well represented, with minimal loss of total contained ounces at the 1 g/t cut-off grade, particularly in the Indicated Resource category. The following table shows the Pit-Constrained Resources at cut-off grades between 0.75 g/t and 1.5 g/t Au. The Company is reporting the figures for the Pit-Constrained Higher-Grade Resource Estimate at the 1.0 g/t cut-off grade:

Higher-Grade Pit-Constrained Indicated Mineral Resource Estimate3, 4,5
Cut-Off Au g/t Cumulative Tonnes1,2 Average Au g/t Cumulative Au oz 1,2 Average Ag g/t Cumulative Ag oz 1,2
> 1.5 10,149,000 2.01 656,000 1.0 320,000
1 31,877,000 1.46 1,497,000 0.9 904,000
0.75 57,605,000 1.19 2,209,000 0.8 1,522,000


Higher-Grade Pit-Constrained Inferred Mineral Resource Estimate3, 4,5
Cut-Off Au g/t Cumulative Tonnes1,2 Average Au g/t Cumulative Au oz 1,2 Average Ag g/t Cumulative Ag oz 1,2
> 1.5 1,535,000 1.77 87,000 1 51,000
1 6,853,000 1.31 290,000 1 212,000
0.75 14,592,000 1.07 503,000 0.9 423,000


1. Tonnes and ounces have been rounded to the nearest thousand
2. Figures/numbers for resource tonnes and ounces may not tally due to rounding
3. Mineral Resources are estimated at a agold value of $1,200
4. No grade capping was required for the Resource Estimate
5. A bulk Density of 2.77g/cm3 was used


Summary
The Updated Resource Estimate highlights a number of key features of the Borden Lake deposit, including:

- The notable presence of a persistent, distinguishable, higher-grade zone within the block model which may positively influence future economic studies

- Significant improvement of, and confidence in, the deposit through upgrade of the majority of previous Inferred Resources into the Indicated category

- Increasing the total contained ounces in the Global Resource Estimate by 44% through additions to both the Indicated and Inferred categories.

- Whittle open-pit design demonstrated that Borden Lake is ideally oriented for open-pit design, with an approximate 45 degree dip which roughly parallels the pit-slope walls.

- At a vertical depth of about 450 m, the pit contains over 90% of the Global Resource, at the same cut-off grades. The minor loss is mostly due to the lack of further delineation of the deposit, which should be remedied by future drilling.

The Updated Resource Estimate represents a rigorous estimation and evaluation of Borden Lake, and will therefore be very effective in advancing the project. With the completion of the Updated Resource Estimate, the Company is now preparing to take the project forward by initiating a PEA or Scoping study to further evaluate the viability of the project in terms of potential development. Owing to the proximity of the deposit to the town of Chapleau, its location less than one kilometer from road and power and the consistency of mineralization, the Company is confident that Borden Lake will continue to distinguish itself.
 
 

Drill Results


0
DDH Section From (m) To (m) Width (m) Au (g/t)
BL10-02 Discovery 4 23 19.0 0.4
BL10-02 37 128 91.0 2.0
Including:
BL10-02 73 84 11.0 3.5
also including:
BL10-02 91 112 21.0 3.2
Including:
BL10-02 106 111 5.0 5.3
 
BL10-03 5.2 32.7 27.5 0.4
BL10-03 46 52.2 6.2 0.7
BL10-03 60.2 69.8 9.6 0.6
BL10-03 83 92 9.0 0.4
 
BL10-04 5 83 78.0 0.7
including:
BL10-04 19 54.6 35.6 1.1
 
BL10-05 11 97 86.0 1.0
including:
BL10-05 23 57 34.0 1.7
including:
BL10-05 44 49 5.0 4.4
 
BL10-06 26 31 5.0 0.8
BL10-06 58.6 134.4 75.8 0.9
including:
BL10-06 58.6 80 21.4 1.4
 
BL10-07 34 57 23.0 1.2
BL10-07 92.1 101 8.9 0.7
including:
BL10-07 92.1 97 4.9 1.0
 
BL10-09 Discovery 19 195 176 0.5
including 53 131 78 0.9
also including 174 195 21 0.6
 
BL10-10 Discovery 19 201 182 1.1
including 39 151 112 1.7
including 71 112 41 3.3
including 85 95.7 10.7 6.5
 
BL10-11 100m NW 6 200 194 0.5
including 12 69.3 57.3 0.6
also including 85.9 95.2 9.3 1.2
also including 122.5 153 30.5 1.2
 
BL10-12 100m NW 4.8 207 202.2 0.4
including 4.8 142 137.2 0.6
including 99 142 43 1.3
 
BL10-13 200m NW 8 184.2 176.2 0.7
including 70.5 137 66.5 1.4
including 81.3 130 48.7 1.8
including 86 118 32 2.1
 
BL10-14 200m NW 4 191.8 187.8 0.7
including 4 127 123 1.0
including 60 127 67 1.5
including 76.7 102.6 25.9 2.4
including 86 102.6 16.6 2.8
 
BL10-15 300m NW 56 133.5 77.5 1.0
including 91.6 114.1 22.5 1.8
 
BL11-16 300m NW 64 140.5 76.5 1.1
including 78.3 83.5 5.2 1.5
also including 108.3 140.5 32.2 1.8
 
BL11-17 400m NW 27 118.9 91.9 0.6
including 72.7 118.9 46.2 0.9
also including 95.1 118.9 23.8 1.2
 
BL11-18 400m NW 101.7 127 25.3 0.9
 
BL11-19 500m NW 74.7 122 47.3 0.9
including 106 122 16 1.4
 
BL11-20 500m NW 64 134.2 70.2 1.1
including 101.1 109.4 8.3 1.8
also including 114 123 9 1.2
185.8 190.4 4.6 3.0
206.8 208.7 1.9 3.0
 
BL11-21 600m NW stopped --- ---
 
BL11-22 500m NW 234 253 19 0.7
288 336.4 48.4 0.5
351 361.6 10.6 0.8
 
BL11-23 200m NW 139.2 173 33.8 0.6
BL11-23 205 249 44 1.1
including 210 220 10 1.4
also including 224.9 231 6.1 2.2
 
BL11-24 700m NW 96 100 4 0.8
133 181 48 0.7
202 215 13 1.0
 
BL11-25 700m NW 44 68 24 0.8
83.6 90 6.4 0.7
119 123 4 1.9
143.2 210 66.8 0.7
including 180 210 30 0.9
 
BL11-26 Discovery 161 280 119 0.7
including 199 247.7 48.7 1.1
 
BL11-27 100m SE 88.1 197 108.9 1.1
including 91.8 103.5 11.7 3.7
also including 169 183 14 1.6
 
BL11-28 100m SE 45.4 182.2 136.8 1.2
including 74.6 142 67.4 1.8
also including 76 86.3 10.3 6.1
 
 
BL11-29 200m SE 65.4 185.9 120.5 0.8
including 106.3 156.0 49.7 1.0
 
BL11-30 200m SE 70 197 127 0.8
including 88.5 157.6 69.1 0.9
including 136.0 157.6 21.6 1.4
 
BL11-31 300m SE 81 128.6 47.6 0.5
including 81 104.5 23.5 0.6
BL11-31 300m SE 195 200 5 0.8
 
BL11-32 300m SE 73 199.7 126.7 0.8
including 104.6 120 15.4 1.4
also including 149 163.7 14.7 2.0
 
BL11-33 400m SE 71.5 76 4.5 0.9
BL11-33 400m SE 123.5 206 82.5 0.6
including 123.5 188 64.5 0.7
including 144.7 151 6.3 1.0
 
BL11-34 400m SE 111 200 89 0.8
including 111 187 76 0.9
including 131.1 136.2 5.1 1.8
also including 151 171.6 20.6 1.4
 
BL11-36 500m SE 109 205.7 96.7 0.8
including 149.4 181 31.6 1.2
including 159 170.6 11.6 1.8
 
BL11-37 600m SE 99.8 198 98.2 0.5
including 138 153 15 0.9
including 138 147.1 9.1 1.4
 
BL11-38 600m SE 133 213 80 0.7
including 142 180.8 38.8 1.3
including 169 175.3 6.3 3.1
 
BL11-39 700m SE 42 43 1 11.4
BL11-39 139 154.3 15.3 0.6
BL11-39 173 201.6 28.6 0.7
 
BL11-40 (lost) 700m SE 25.4 36 10.6 0.5
 
BL11-41 700m SE 134 224 90 0.5
including 154.3 202 47.7 0.7
including 164 175 11 1.2
 
BL11-42 800m SE 31 34 3 4.2
BL11-42 149 210 61 0.4
including 149 171 22 0.5
also including 185 198 13 0.5
 
BL11-43 800m SE 158 202 44 0.9
including 158 192 34 1.1
 
BL11-44 600m SE 260 301.5 41.5 1.4
 
BL11-45 850m SE 120 168.5 48.5 0.4
including 148 168.5 20.5 0.6
 
BL11-46 600m SE 200 280.6 80.6 0.5
including 258 280.6 22.6 1.1
 
BL11-47 850m SE 16 19 3 3.8
BL11-47 118 195 77 0.5
including 140 160 20 0.9
including 149 160 11 1.2
 
BL11-48 750m SE 56.2 58 1.8 1.8
BL11-48 206.3 284 77.7 0.7
including 206.3 267 60.7 0.8
including 232 264.7 32.7 1.1
including 235 253 18 1.4
 
BL11-49 800m SE 59.9 78 18.1 0.5 0.7
BL11-49 95 100.0 5.0 0.8 2.3
 
BL11-50 700m SE 36 44.6 8.6 1.1 0.8
BL11-50 112 121 9.0 0.7 0.4
 
BL11-51 750m SE 162.0 283.7 121.7 0.6 0.5
including 228 262.0 34.0 1.5 0.9
 
BL11-52 600m SE 74.0 110.0 36.0 0.5 0.4
 
BL11-53 400m SE 168.2 265.0 96.8 0.7 0.6
including 168.2 200 31.8 0.9 0.7
including 185.0 200 15.0 1.1 0.8
also including 229.7 253.3 23.6 1.1 0.7
 
BL11-54 500m SE 42.2 71.0 28.8 1.0 0.7
including 42.2 54.7 12.5 1.6 1.0
 
BL11-55 400m SE 4.1 31.0 26.9 0.5 1.0
BL11-55 69.0 151.0 82.0 0.7 0.6
 
BL11-56 400mSE 161.0 267.0 106.0 0.6 0.4
including 167.7 187.0 19.3 1.0 0.6
 
BL11-57 300m SE 9.5 12.0 2.5 0.8 2.4
BL11-57 19.7 26.2 6.5 0.6 1.2
BL11-57 74.6 121.0 46.4 0.8 0.5
including 115.6 121.0 5.4 2.0 0.4
 
BL11-58 200mSE 89.0 113.0 24.0 1.5 0.3
including 101.0 113.0 12.0 2.9 0.4
BL11-58 132.2 273.0 140.8 0.8 0.6
including 158.0 218.7 60.7 1.5 0.8
including 162.1 188.0 25.9 1.7 0.8
also including 201.7 218.7 17.0 2.0 1.1
 
BL11-59 200m SE 4.1 127.0 122.9 0.6 0.6
including 10.0 22.0 12.0 0.7 1.6
also including 55.0 69 14.0 1.5 0.9
also including 114.5 122.0 7.5 1.9 0.5
 
BL11-60 200mSE 139.0 288.0 149.0 0.7 0.5
including 176.0 205.0 29.0 1.3 0.6
also including 214.0 239.5 25.5 1.4 0.6
 
BL11-61 100m SE 17.0 130.6 113.6 0.5 0.7
including 28.0 62.0 34.0 0.7 1.3
including 34.0 49.2 15.2 1.0 1.4
 
BL11-62 0m NW 4.0 144.0 140.0 0.5 0.8
including 4.0 51.0 47.0 1.0 1.7
 
BL11-63 500mSE 122.0 158.0 36.0 0.5 0.5
 
BL11-64 100m NW 9.0 24.8 15.8 0.5 0.4
BL11-64 55.0 77.0 22.0 1.3 1.7
 
BL11-65 550m SE 97.9 181.0 83.1 0.5 0.6
including 135.9 147.0 11.1 0.9 1.4
also including 167.0 181.0 14 0.6 0.3
 
BL11-66 200m NW 10.0 87.0 77 1.2 1.2
including 33.5 75.0 41.5 2.0 1.6
including 43.0 58.0 15 3.0 1.6
BL11-66 149.0 156.0 7.0 1.1 0.6
 
BL11-67 550m SE 121.2 206 84.8 0.5 0.6
including 138.3 168.3 30 0.8 0.9
including 143.0 158 15 1.1 1.1
 
BL11-68 300m NW 22.2 123 100.8 0.6 0.6
including 42.0 59.2 17.2 0.9 0.7
also including 98.0 103 5 2.6 1.0
 
BL11-69 400mNW 28.5 99 70.5 0.6 0.6
including 73.8 99 25.2 1.1 1.1
 
BL11-70 650mSE 135.8 196 60.2 0.7 0.9
including 135.8 151 15.2 1.5 2.3
 
BL11-71 650m SE 144.8 205 60.2 0.6 0.6
including 144.8 169.8 25.0 1.1 1.1
 
BL11-72 500m NW 48.4 110 61.6 0.9 0.8
including 66.1 103 36.9 1.3 1.0
including 84.7 103 18.3 1.7 1.0
 
BL11-73 600m NW 37.0 44 7.0 1.5 0.6
BL11-73 130.0 175.4 45.4 0.8 1.0
including 141.0 155.3 14.3 1.1 1.4
BL11-73 202.8 210.7 7.9 1.1 0.9
 
BL11-74 750mSE 4.4 8.7 4.3 1.9 0.2
BL11-74 121.0 176 55.0 0.5 0.5
including 158.0 174 16.0 0.9 0.2
 
BL11-75 750m SE 140.0 208 68.0 0.6 0.7
including 142.0 162.2 20.2 1.1 1.5
 
BL11-76 600m NW 45.0 54 9.0 1.1 0.6
BL11-76 142.9 211.3 68.4 0.5 0.6
 
BL11-77 450m SE 4.3 18 13.7 0.5 0.2
BL11-77 132.8 162 29.2 0.6 0.9
including 132.8 145 12.2 0.8 1.4
 
BL11-78 800m NW 94.0 98.0 4.0 1.0 0.8
 
BL11-79 450m SE 7.0 24.7 17.7 2.3 0.2
including 21.0 24.7 3.7 9.2 0.5
BL11-79 450m SE 110.5 211.0 100.5 0.6 0.6
including 155.0 172.5 17.5 1.2 0.9
 
BL11-80 800m NW 101.8 121.6 19.8 0.6 0.5
BL11-80 800m NW 180.4 187.0 6.6 10.9 0.8
including 183 184 1.0 12.7 1.1
including 184 185 1.0 57.0 2.2
 
BL11-81 350m SE 123.1 217.0 93.9 0.6 0.5
including 148.0 176.0 28.0 1.1 0.7
 
BL11-82 350m SE 86.0 215.9 129.9 0.8 0.5
including 156.7 195 38.3 1.8 0.9
 
BL11-83 250m SE 75.0 188.0 113.0 0.6 0.6
including 110.5 151.0 40.5 0.9 0.8
 
BL11-84 750m NW 83.0 213.0 130.0 0.6 0.4
including 189.0 202.3 13.3 0.9 1.1
 
BL11-85 250m SE 80.0 196.2 116.2 0.8 0.7
including 98.0 116.6 18.6 1.1 0.8
also including 148.0 162.7 14.7 2.3 1.2
 
BL11-86 750mNW 70.0 73.2 3.2 1.2 0.2
BL11-86 177.9 245.8 67.9 0.5 0.5
including 222.0 226.0 4.0 0.9 0.7
also including 242.0 245.0 3.0 0.9 0.4
 
BL11-87 150m SE 58.0 177.0 119.0 0.6 0.6
including 69.7 71.7 2.0 1.1 1.2
also including 96.4 118.0 21.6 0.9 0.9
also including 128.0 143.0 15 0.9 0.8
also including 173.0 177.0 4 1.5 0.3
 
BL11-88 150m SE 46.7 185.0 138.3 1.0 0.7
including 120.0 147.4 27.4 2.3 1.2
including 131.0 147.4 16.4 3.3 1.6
 
BL11-89 650m NW 64.0 152.0 88.0 0.5 0.5
including 84.1 88.8 4.7 1.3 0.3
also including 117.0 127.0 10.0 1.0 0.9
 
BL11-90 100mNW 97.0 98.5 1.5 15.8 0.5
BL11-90 192.0 251.0 59.0 0.7 0.6
including 192.0 194.0 2.0 1.7 0.4
also including 204.0 220.0 16.0 1.1 0.7
BL11-90 305.0 309.0 4.0 1.2 1.5
 
BL11-91 650mNW 19.0 22.4 3.4 1.2 0.7
BL11-91 128.6 210.0 81.4 0.6 0.5
including 205.0 210.0 5.0 1.5 0.4
 
BL11-92 550m NW 45.0 136.0 91.0 0.7 0.6
including 96.0 134.0 38.0 1.0 0.9
 
BL11-93 100mNW 142.0 146.0 4.0 1.0 0.4
BL11-93 241.0 266.6 25.6 0.6 0.5
including 259.0 266.6 7.6 1.0 0.7
 
BL11-94 550m NW 40.0 65.0 25.0 0.5 0.3
including 54.4 65.0 10.6 1.0 0.5
 
BL11-95 100m NW 286.0 299.4 13.4 0.4 0.3
 
BL11-96 450m NW 84.4 171 86.6 0.6 0.5
including 96.1 102.5 6.4 2.2 1.2
also including 106.8 123 16.2 1.1 1
 
BL11-97 450mNW 64 142 78 0.6 0.6
including 110.3 142 31.7 1 0.9
BL11-97 191.0 193.0 2.0 1.5 0.4
 
BL11-98 300m NW 254.7 287 32.3 0.7 0.5
including 254.7 258 3.3 1.5 0.9
also including 274 287 13 1.3 0.5
also including 281.4 287 5.6 2.1 0.9
Hole stopped in diabase
 
BL11-99 300m NW 116.7 126 9.3 0.4 0.6
Hole stopped in diabase
 
BL11-100 350m NW 49 126 77 0.7 0.6
including 56.1 61 4.9 1.6 0.4
also including 95 97 2 3.1 1.1
including 93.3 126 32.7 1.1 0.9
BL11-100 169 174.1 5.1 0.7 0.3
 
BL11-101 300m NW
Hole stopped in diabase
 
BL11-102 350mNW 61.0 70.1 9.1 1.0 0.2
BL11-102 93.6 128.0 34.4 1.0 0.8
including 99.0 112.4 13.4 1.7 1.1
 
BL11-103 500mNW 176.0 190.6 14.6 0.5 0.2
BL11-103 213.0 360.0 147.0 0.5 0.4
including 286.0 304.0 18.0 1.1 0.7
also including 338.2 344.0 5.8 1.3 0.5
 
BL11-104 250m NW 34.2 186.0 151.8 0.7 0.9
including 85.3 137.0 51.7 1.4 1.0
also including 102.0 114.0 12.0 2.4 1.3
 
BL11-105 500m NW 294.7 403.0 108.3 0.3 0.4
including 329.0 331.0 2.0 1.0 0.5
also including 381.0 383.3 2.0 1.0 0.4
 
BL11-106 250m NW 38.0 132.6 94.6 1.0 0.7
including 38.0 51.3 13.3 1.3 0.4
also including 75.5 132.6 57.1 1.3 0.9
also including 93.0 116.0 23.0 2.1 1.3
 
BL11-107 150mNW
Hole stopped in diabase
 
BL11-108 150m NW 48.8 55.6 6.7 1.0 0.8
Hole stopped in diabase
 
BL11-109 300m NW 104.5 204.2 99.7 0.7 0.5
including 164.0 204.2 40.2 1.2 0.8
 
BL11-110 50m NW 29.0 138.0 109.0 0.7 0.7
including 55.3 66.1 10.8 1.1 0.5
also including 98.0 116.0 18.0 1.3 1.0
 
BL11-111 50m NW 41.5 142.4 100.9 1.1 0.8
including 69.0 104.0 35.0 1.6 0.8
also including 73.2 91.0 17.8 2.0 1.0
 
BL11-112 700m NW 244.0 247.0 3.0 1.2 0.6
BL11-112 286.0 328.0 42.0 0.7 0.6
including 297.0 317.4 20.4 1.0 1.0
 
BL11-113 700m NW 156.0 165.0 9.0 1.9 0.7
BL11-113 321.0 365.0 44.0 0.4 0.3
 
BL11-114 700m NW
Hole lost
 
BL11-115 700m NW 55.5 109.0 53.5 0.4
including 93.0 105.0 12.0 1.1
BL11-115 393.4 395.9 2.5 1.1
 
BL11-116 800m NW 68.0 76.0 8.0 1.0
BL11-116 183.9 207.2 23.3 0.5
BL11-116 251.7 296.0 44.3 0.4
 
BL11-117 600m NW 211.6 338.0 126.4 0.4
including 237 252.3 15.3 0.9
also including 327 334.0 7.0 1.0
 
BL11-118 600m NW 163.0 168.0 5.0 0.4
BL11-118 300.0 381.0 81.0 0.4
including 344.0 348.0 4.0 1.3
also including 375.0 381.0 6.0 1.0
 
BL11-119 600m NW 184.0 187.0 3.0 1.5
BL11-119 334.0 418.0 84.0 0.6
including 337.0 340.2 3.2 2.9
also including 361.0 366.0 5.0 1.5
also including 398.0 406.0 8.0 1.9
 
BL11-120 400m NW 213.0 263.9 50.9 0.6
including 247.0 251.0 4.0 1.8
 
BL11-121 750m SE 196.0 307.0 111.0 1.1
including 232.0 282.0 50.0 1.9
also including 262.0 271.0 9.0 5.6
 
BL11-122 400m NW 233.1 278.0 44.9 0.4
 
BL11-123 700m SE 33.0 34.0 1.0 1.2
 
BL11-124 900m SE 177.0 224.2 47.2 0.4
including 177.0 193.0 16 0.6
 
BL11-125 400m NW 181.0 233.0 52 1.0
including 191.8 206.0 14.2 2.4
BL11-125 320.0 328.4 8.4 0.7
BL11-125 365.0 371.0 6 0.6
 
BL11-126 900m SE 41.0 41.8 0.8 3.0
BL11-126 79.0 86.4 7.4 0.6
BL11-126 167.0 248.0 81 0.8
including 199.0 223.0 24 1.6
 
BL11-127 1000m SE 160.2 212.0 51.8 0.5
including 189.0 196.0 7 1.0
 
BL11-128 200m NW 136.0 162.0 26 1.8
including 139.0 144.0 5 5.9
also including 156.6 160.0 3.4 2.5
BL11-128 343.7 361.0 17.3 0.6
 
BL11-129 1000mSE 170.5 205.0 34.5 0.6
 
BL11-130 600m SE 221.3 316.0 94.7 1.0
including 281.9 291.0 9.1 3.8
 
BL11-131 1100m SE 72.0 97.0 25 0.5
BL11-131 162.0 220.0 58 0.5
including 187.6 198.8 11.2 1.0
 
BL11-132 700m SE 215.0 320.0 105 0.4
including 283 310.0 27 0.7
 
BL11-133 700m SE 230.4 326.0 95.6 1.0
including 280.0 299.0 19 2.4
 
BL11-134 1100m SE 180.1 211.1 31 0.6
BL11-134 232.0 237.0 5 0.8
BL11-134 248.0 255.0 7 0.6
 
BL11-135 200mNW No Significant Results
 
BL11-136 1200mSE 85.0 89.0 4 0.5
 
BL11-137 700m SE 164.0 165.0 1 4.6
BL11-137 208.7 210.0 1.3 4.5
BL11-137 255.0 348.0 93 0.5
including 277.0 294.0 17 0.7
also including 312.0 314.0 2 1.7
also including 319.0 327.0 8 0.8
 
BL11-138 1200mSE 195.0 237.8 42.8 0.6
 
BL11-139 500m SE 18.0 21.0 3 1.0
BL11-139 94.0 97.0 3 3.4
BL11-139 185.0 287.0 102 0.6
including 202.0 217.0 15 1.1
also including 258.0 272.0 14 1.3
 
BL11-140 Discovery 88.0 89.8 1.8 1.1
BL11-140 157.0 244.0 87 0.7
including 193.0 210.0 17 1.4
also including 233.0 236.6 3.6 1.6
 
BL12-141 1300mSE 160.7 179.3 18.6 0.4
 
BL12-142 500mSE 196.0 322.0 126 0.8
including 232.0 238.0 6 1.5
also including 252.0 259.0 7 1.7
also including 272.5 289.0 16.5 1.4
 
BL12-143 Discovery 284.8 338 53.2 0.7
including 291 298 7 1.3
also including 307 318 11 1.0
also including 330 332.7 2.7 1.8
 
BL12-144 500m SE 217 320 103 0.9
including 254 303 49 1.2
including 254 258 4 2.9
 
BL12-145 1300m SE 156.6 254 97.4 0.4
including 244 254 10 1.0
 
BL12-146 100m SE 178 257 79 0.8
including 209 230 21 1.5
 
BL12-147 400m SE 211.3 315 103.7 1.0
including 218 228 10 2.2
also including 254 279 25 1.4
 
BL12-148 900mSE 80 92.2 12.2 0.5
 
BL12-149 300m SE 183 287 104 0.8
including 187 222 35 1.0
including 187 191 4 2.8
also including 229.3 260 30.7 1.0
BL12-149 301.6 313 11.4 2.2
including 310 310.8 0.8 24.6
 
BL12-150 1000m SE 55 58.6 3.6 0.9
BL12-150 86 93.9 7.9 0.6
BL12-150 156 157 1 1.6
 
BL12-151 100m SE 214 294.6 80.6 0.8
including 235.6 245.6 10 1.4
 
BL12-152 1100m SE 87 94.9 7.9 0.7
BL12-152 183 187 4 0.7
BL12-152 196 197 1 2.1
 
BL12-153 100m SE 229.7 260 30.3 0.5
BL12-153 288 342 54 0.9
including 316 321 5 1.9
 
BL12-154 300m SE 192 282 90 1.0
including 233.6 257.2 23.6 1.9
 
BL12-155 1200m SE 162 163 1 2.8
 
BL12-156 300m SE 206 321 115 0.8
including 263 291 28 1.8
including 277 284 7 3.3
 
BL12-157 200m SE 166 315 149 1.0
including 256 287 31 2.7
 
BL12-158 1300m SE 121 127.6 6.6 0.6
 
BL12-159 200m SE 304 377 73 0.9
including 347 372 25 1.4



BORDEN LAKE NORTH EXPLORATION DRILLING RESULTS

DDH From (m) To (m) Width (m) Au (g/t)
BN11-04 35.2 36 0.8 1.2
 
BN11-06 108 121 13.0 0.5
including 120.0 121.0 1.0 3.2
 
 
 

2D Borden Lake Drill Plan and Section Maps



Plan View March 19, 2012
click on image to view enlarged

Discovery Section
click on image to view enlarged

Section 50mSE
click on image to view enlarged

Section 50mNW
click on image to view enlarged

Section 100mNW
click on image to view enlarged

Section 100mSE
click on image to view enlarged

Section 150mNW
click on image to view enlarged

Section 150mSE
click on image to view enlarged

Section 200mNW
click on image to view enlarged

Section 200mSE
click on image to view enlarged

Section 250mNW
click on image to view enlarged

Section 250mSE
click on image to view enlarged

Section 300mNW
click on image to view enlarged

Section 300mSE
click on image to view enlarged

Section 350mNW
click on image to view enlarged

Section 350mSE
click on image to view enlarged

Section 400mNW
click on image to view enlarged

Section 400mSE
click on image to view enlarged

Section 450mNW
click on image to view enlarged

Section 450mSE
click on image to view enlarged

Section 500mNW
click on image to view enlarged

Section 500mSE
click on image to view enlarged

Section 550mNW
click on image to view enlarged

Section 550mSE
click on image to view enlarged

Section 600mNW
click on image to view enlarged

Section 600mSE
click on image to view enlarged

Section 650mNW
click on image to view enlarged

Section 650mSE
click on image to view enlarged

Section 700mNW
click on image to view enlarged

Section 700mSE
click on image to view enlarged

Section 750mNW
click on image to view enlarged

Section 750mSE
click on image to view enlarged

Section 800mNW
click on image to view enlarged

Section 800mSE
click on image to view enlarged

Section 850mSE
click on image to view enlarged

Section 900mSE
click on image to view enlarged

Section 1000mSE
click on image to view enlarged

Section 1100mSE
click on image to view enlarged

Section 1200mSE
click on image to view enlarged

Section 1300mSE
click on image to view enlarged
 
 

2D Borden Lake North Drill Plan and Section Maps



Regional Plan View Borden North
click on image to view enlarged

Zoom Plan View Borden North
click on image to view enlarged

Drill Holes BN11-01 & 02
click on image to view enlarged

Drill Hole BN11-03
click on image to view enlarged

Drill Holes BN11-04 & 05
click on image to view enlarged

Drill Hole BN11-06
click on image to view enlarged
 
 

Technical Report on the Initial Mineral Resource Estimate for the Borden Lake Gold Deposit


Download Borden Lake Technical Report on the Initial Mineral Resource Estimate Borden Lake Gold Deposit
PDF, 6.59MB
 
 

Project Summary


The Borden Lake property represents a new gold discovery associated with Timiskaming-age sediments in an underexplored part of the Kapuskasing Structural Zone. Timiskaming sediments often show a spatial association with large-scale Archean lode gold deposits such as those found in the Timmins, Kirkland Lake, Hemlo and Red Lake gold camps and thus represent an important geological indicator for the gold potential of an area.


Borden Lake Geology
(this map is based on an initial
geological interpretation of existing data)
Click on image to view enlarged


Borden Lake Cross Section
(this map is based on an initial
geological interpretation of existing data)
Click on image to view enlarged















The gold discovery was made within one kilometre of Highway 101, which links the towns of Chapleau and Timmins, and is approximately 15 kilometres from well-developed infrastructure in the Town of Chapleau itself. The Chapleau area has seen historic gold exploration and development activity, however, no significant work has been done in the Borden Lake area and the zone represents a significant new gold discovery in a previously unexplored area. The Borden Lake project has been the main focus of Probe's exploration programs since significant gold mineralization was confirmed in November 2010.


Borden Lake Location Map
click on image to view enlarged



















An updated NI 43-101 compliant Resource Estimate, based on 159 drill holes, was released on the Borden Lake gold zone in early April, 2012. An Indicated Resource of 4,051,000 million ounces gold averaging 0.71 g/t Au plus an additional Inferred Resource of 1,797,000 million ounces gold averaging 0.62 g/t Au, representing an increase of 1,228% in Indicated Resource from the previous Inferred category in the Initial Resource Estimate and a 44% increase in the total contained ounces from the Initial Resource Estimate while maintaining a similar overall average grade.


Pit Constrained Block Model View 2
Click on image to view enlarged



The on-going drill program at Borden Lake is now on Hole BL12-182 and is designed to continue improving and expanding the resource. In addition to infill drilling within the area of the resource estimate, drilling is also focused on expanding the limits of the mineralization and further defining parllel gold zones observed. The Company currently has four drills turning on the project, and is expanding its explorations program with the recent option of Reliants Gold's Borden Lake South property. Summer programs will also focus on local and regional mapping, geophysical and soil geochemical programs. Second phase metallurgical investigations are already in progress.
 
 

PROBE MINES LIMITED Suite 306, 2 Toronto Street, Toronto, ON Canada M5C 2B6
Tel: 416 777 6703 Fax: 416 777 6705 Web: http://www.probemines.com
MORE INFORMATION
Legal Information
©Copyright of PROBE MINES 2010
Disclaimer - Stock Symbol: TSX-V:PRB
Powered by Adnet