• Discovery Made in 2010
• Located in Ontario, Mining Friendly Jurisdiction
• Increasing Resource and Grade
• Close to Well-developed Infrastructure in Ontario
The Borden Gold project is located in northern Ontario, approximately 160 km southwest of the city of Timmins and 9 km east-northeast of the town of Chapleau. The gold discovery was made within one kilometre of Highway 101, which links the towns of Chapleau and Timmins. The Borden Gold project is approximately 15 kilometres from well-developed infrastructure.
The Borden Gold Project represents a 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.
An updated Mineral Resource Estimate was released on June 10,2014, which included the first Resource Estimate to contain the High-Grade Underground (U/G) resource. The High-Grade U/G is estimated to contain a constrained Indicated Resource of 1.60 million ounces of gold averaging 5.39 g/t Au and an additional constrained Inferred Resource of 0.43 million ounces of gold averaging 4.37 g/t Au, at a 2.5 g/t Au cut-off grade. In addition, the deposit is estimated to contain an Open pit-constrained Resource of 2.32 million ounces of gold averaging 1.03 g/t Au, at a 0.5 g/t Au cut-off grade.
The Borden Gold Project has been the main focus of Probe's exploration programs since significant gold mineralization was confirmed in November 2010.