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Probe holds a 5% net smelter royalty (NSR) interest on claims covering a portion of the Goldex deposit, owned by Agnico-Eagle Mines Ltd. ("Agnico-Eagle") and located five kilometres west of Val d'Or, Quebec. Goldex lies within the Abitibi Belt, one of the world's most prolific gold and base metal regions.
In 2005, Agnico-Eagle announced that a new gold mine would be built at Goldex. Surface construction and underground development began in 2005 and will continue to be the focus of work in 2006. Full production is anticipated by 2008.
Goldex is a low grade, bulk tonnage gold deposit with ore that is easy to treat and recoverable by gravity and flotation.
A positive production decision at Goldex means that Probe's NSR has moved a step closer to becoming a potential revenue stream for the Company.
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