Properties
Project SummaryThe 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 Location Map click on image to view enlarged Probe recently completed a VTEM airborne EM-magnetic survey, comprising 225 line kilometres, over the Borden Lake property. Preliminary results indicate a number of anomalies on the property, the most interesting of which consists of a 700 metre-long conductor located just south of the gold mineralization identified in outcrop. It is hoped that the EM anomaly has a genetic association with gold-mineralized outcrop and therefore implications for increased strike length, width and grade of gold mineralization. A ground geophysical grid is currently being established over both the mineralized area and the VTEM target and will be surveyed by IP. The program is expected to be completed towards the end of June. Results will be used to evaluate the relationship between gold-bearing outcrop and airborne anomalies. The airborne conductor lies along a horizon containing two other similar conductors which suggests the potential for an extensive mineralized zone. Drilling is expected to commence once final results for the airborne and ground surveys have been evaluated. Option TermsProbe has the right to earn a 100% interest in the property by making cash payments totaling $55,000 and issuing 300,000 shares over the four-year term of the agreement. The vendors maintain a 2% Net Smelter Royalty (NSR) interest, while Probe retains an option to buy back 1% of the NSR for $1,000,000. | |
