Properties
Project SummaryMcFauld's Lake OverviewProbe Mine's has assembled one of the larger land packages in the McFauld's Lake area, comprising 945 claim units totaling over 15,000 hectares of greenstone belt stratigraphy. The Corporation's holdings are distinguished by their location within all of the prospective settings where major discoveries have been made in the McFauld's area to date, including chromite, nickel, copper, platinum group metals (PGM), base metal volcanogenic massive sulphide (VMS), gold and vanadium. Two of Probe's properties, Tamarack and the Noront JV, have demonstrated this potential with the discovery of Cu-rich VMS mineralization and chromite, respectively, while considerable untested potential remains on all properties. Probe's four projects, Tamarack, Victory, the Noront Joint Venture and McFauld's West, each represent a unique setting, and a unique potential, in the Ring of Fire.  McFauld's Lake Location Map click on image to view enlarged The Company's McFauld's Lake area projects lie in a sparsely vegetated area of subdued topography in the James Bay Lowlands of Northern Ontario. Greenstone belt volcanic stratigraphy at McFauld's Lake is overlain by a thin cover of Paleozoic sedimentary rocks, making the identification of geophysical anomalies, followed by diamond drill testing the optimum exploration strategy in this region. Two main geologic settings have been targeted by mineral exploration: a mixed volcanic sequence hosting base metal VMS mineralization; and an ultramafic horizon located along the contact of the volcanics that is host to nickel-copper, chromite and gold discoveries. The volcanics represent the majority of the rock types found in the 100km long belt, with ultramafic intrusive so far identified only along a 20km zone near the center of the volcanic belt. In addition to the mixed volcanics and ultramafics, a gabbroic/mafic complex has also been identified, which is spatially associated with the ultramafic intrusive. Significant intercepts of vanadium-rich mineralization have been reported by Noront Resources from the gabbro. Probe Mine's has assembled a significant land package within all three geologic settings, and has to date identified VMS mineralization on its Tamarack property and chromite mineralization on its Noront JV project. Owing to the size and location of these properties significant areas remain to be tested and considerable potential exists for the identification of other VMS and chromite deposits, as well as nickel-copper and precious metal deposits. McFauld's Lake GeologyVery little is known about the geology of the McFauld's Lake area, with most of the information obtained from recent drilling in the area of the VMS, Nickel and chromite discoveries. The McFauld's Belt, commonly referred to as "The Ring of Fire", is an over 100km long, arcuate greenstone belt comprised predominantly of a bimodal population of basaltic and rhylotic-dactic volcanic rocks with minor intercalated sediments. At the center of the midpoint of the arc, situated at the contact of the greenstone belt and granodioritic country rocks, is a 20km long, thin, sill-like body of variably altered and sheared ultramafic intrusive, which hosts all of the known Ni-Cu, PGM and chromite mineralization. The Eagle's Nest Ni-Cu deposit is hosted in an interpreted "feeder dyke", which is thought to have acted as one of the conduits for magma emplacement. Mineralization in the Ring of Fire is as varied as it is extensive (Insert Map shown above and label map: Magnetic Map showing Probe Mines' properties and selected mineral occurences). To date, potential economic sources of Cu-Zn, Cu-Ni, Cr2O3, PGM, Au and V have been identified in the felsic volcanic and ultramafic intrusive rocks of the belt. The most significant VMS deposits occur in two areas of the belt, central and northern,and are distinguished by copper-rich and zinc-rich varieties, respectively. The central VMS deposits are typically associated with highly Mg-metasomatized felsic volcanics, characterized by intense talc alteration. Although some examples contain zones of zinc rich mineralization, most are notable for their high-grade copper. The McFauld's deposit (Spider) reported over 18m of 8% Cu in drill intersections, while Probe's A-Zone discovery hole returned 7.8m at 3.1% Cu. The discovery of nickel-rich magmatic massive sulphide deposits was a turning point for the McFauld's area. The best example of this mineralization is represented by the Eagle's Nest deposit (Noront) and is characterized by thick, very high-grade intersections, including over 46m of 6.3% Ni, 2.8% Cu and 15.1g/t Pt+Pd+Au. The most recent estimate for Eagle's Nest reports 6.9MM tonnes grading 2.04% Ni, 0.95 and 4.7g/t Pt+Pd in indicated resources and 4.3MM tonnes grading 1.42% Ni, 0.87% Cu and 4.2g/t Pt+Pd in inferred resources. Following the nickel discovery, attention focused on the Belt's chromite potential with thick, high-grade drill discoveries by Freewest Resources in 2008. Chromite has surpassed all other commodities in terms of volume, and the recent acquisition of Freewest by Cliffs Natural Resources indicates its economic importance to the Belt. Chromite occurs as thick massive, semi massive and disseminated layers within the thin, ultramafic horizon situated along the contact of the greenstone belt. A preliminary estimate indicates a current drilled resource(s) of 69.5Mt averaging 31.9% Cr2O3 in the Black Thor zone, with potential to increase these resources significantly through continued exploration. Probe Mine's Black Creek deposit is interpreted to be the southwest extension of the Black Thor horizon, and contains similar mineralization. In 2009 Probe reported drill intersections of up to 62.4m averaging 34.5% Cr2O3. Maps & ImagesMcFauld's Lake Location Map click on image to view enlarged  McFauld Lake Regional Magnetic Map click on image to view enlarged | |||||
Probe/Noront JVProject SummaryThe Probe/Noront JV properties are comprised of four blocks of claims totaling 87 claim units. In 2009, to avoid potential conflict, Probe and Noront agreed to administer the claims under a joint venture agreement, with each company maintaining a 50% interest. Probe is the operator of the joint venture until May 2011. The properties represent a variety of different environments and therefore deserve individual focus. Blocks A and B, the southwestern-most claims, are both within 400-500m of the Eagle's Nest nickel discovery and contain a number of features suggesting prospectivity for similar mineralization. Block C, which is the central block of the joint venture, lies along the ultramafic horizon containing the main chromite deposits and hosts the 2009 discovery of the Black Creek chromite deposit, which represents a key segment to future chromite mining operations, lying between the Black Thor (Cliffs) and Big Daddy (Cliffs-Spider-KWG) deposits. The Black Creek Discovery yielded results including 62.4m of 34.5% Cr2O3 and additional core intervals ranging as high as 43.4% Cr2O3. Highly anomalous values of platinum (0.4g/t) and palladium (0.6g/t) were also found, while values for nickel were within the range of ultramafic rocks with a maximum of 0.3%. The Black Creek deposit is strategically located between the Black Thor (Cliffs) and Big Daddy (Spider-KWG-Cliffs) deposits, and is interpreted to represent the southwest extension of the Black Thor horizon. Its strategic importance lies not only in the thick, high-grade mineralization, but also in its location and morphology. Block C lies in the middle of the Black Thor and Big Daddy deposits, separating these two zones. It is also close to bedrock, witnessed by outcrop on the property in close proximity to the deposit. This is important for two reasons, as it provides low stripping ratios for mining and, perhaps more importantly, a stable base for infrastructure and operations. The McFauld's area is characterized by muskeg and it is rare to find stable footings. The morphology of the deposit is also important as it appears, from drilling, to represent a consistent lens of mineralization uninterrupted by faulting or deformation. An NI 43-101 is currently underway and expected to be completed in August of this year. Block D encompasses both the chromite bearing ultramafic horizon and the mafic complex, the latter being host to Noront's Thunderbird vanadium deposit. Limited exploration has been done on the Probe/Noront JV properties and owing to their strategic location in the heart of the ultramafic horizon are considered to have high potential for further discoveries. Maps & Images Magnetic Map Probe Noront JV Properties click on image to view enlarged  Magnetic Map Probe Noront JV Block A & B click on image to view enlarged  Magnetic Map Probe Noront JV Block C click on image to view enlarged  Magnetic Map Block D click on image to view enlarged  McFaulds Chromite Area Map click on image to view enlarged  Black Creek Map click on image to view enlarged  McFauld's Lake Chromite Zone Drill Locations click on image to view enlarged | |||||
TamarackProject SummaryThe Tamarack Project comprises 360 claims covering over 5,700 hectares of the McFauld's Lake volcanic belt immediately northeast of recent nickel and chromite discoveries made by Noront, Freewest and KWG /Spider. Tamarack is located in the central part of the McFauld's Belt and contains both the northern extension of the central VMS horizon and the interpreted northeast extension of the mafic complex. The property, therefore, has potential for both base metal and vanadium-(iron) mineralization. In 2005 the Company drilled two holes, M6 and M7, which intersected Cu-rich VMS mineralization approximately 2.5 kilometres along the projected northern extension of the central VMS horizon from the McFauld's 1, 2 and 3 deposits. In 2008, Noront Resources reported high-grade vanadium mineralization approximately 5km southwest of the Tamarack property within gabbroic rocks interpreted (from airborne magnetics) to extend into the Tamarack claims. Maps & Images Tamarack Magnetic Map click on image to view enlarged | |||||
VictoryProject SummaryThe Victory project represents Probe's largest property in the area. It is located along an over 70km long V-shaped greenstone belt projecting southeast from the central part of the McFauld's Lake Belt. It is our largest property comprised of 452 claims staked in 2 blocks - east and west. Its relationship to McFauld's is not well known and it may represent an associated belt or the southeast extension of the McFauld's Belt. Probe is the first company to explore this property. Drilling along the belt has intersected a mixed volcanosedimentary environment similar to that identified on the Tamarack property. Mineralization is also similar, consisting of base metal-bearing massive and stringer sulphide zones hosted by altered felsic volcanics. Unlike the Tamarack property, sulphide mineralized argillites and graphitic argillites have been identified in the Victory volcanics.  Victory/Noranda Comparison Map click on image to view enlarged The aerial extent of Probe's land position in the Victory Belt is comparable to that of established VMS camps, most notably the Noranda area of Quebec, which contains numerous deposits and base metal occurrences. Similar to both Noranda and Matagami, which are characterized by multiple deposits within a VMS camp, exploration successes by Probe and others throughout the McFauld's area indicate camp potential in this region. To demonstrate the size of the Victory belt with respect to the Noranda Camp, the two areas are shown to scale in the diagram below. This figure shows the interpreted geology of the Victory project with known conductors at the same scale as the Noranda Camp. Note the similarity in distribution and stratigraphic control of conductors as well as the possible vertical "stacking". Maps & Images Victory Magnetic Map click on image to view enlarged  Victory Drill Locations click on image to view enlarged  Victory East Magnetic Map click on image to view enlarged | |||||
McFauld's WestProject SummaryThe McFauld's West project was staked in 2008 following the discovery of the Eagle's Nest deposit and the ensuing staking rush. The property represents a conceptual model based on the potential extension of structures which may control emplacement of the ultramafic conduit hosting nickel-rich massive sulphides at Eagle's Nest. From Magnetic data, a northwest-trending structure is interpreted near the contact between the northeast-trending ultramafic horizon and the ultramafic intrusives identified at Eagle's Nest and on the adjacent Probe/Noront JV property. As a parallel, the McFauld's West claims were staked at the intersection of the projected northwesttrending structure and the regional magnetic contact approximately 2km to the northwest. This contact between low (southeast) and high (northwest) magnetic character represents the division between the "Ring of Fire" and the "Central Dome". A number of isolated magnetic highs can be seen along this contact, and it was these that were targeted by staking. The McFauld's West property is considered to represent potential for structurally controlled emplacement of ultramafic intrusives, as is seen to the southwest, and therefore Ni-Cu-PGM mineralization. A VTEM electromagnetic-magnetic ("EM") survey was completed in June 2010. The property covers magnetic anomalies situated along the projected extension of structures interpreted to be the conduits for the ultramafic magma responsible for the deposition of nickel-bearing massive sulphides. When received, results of the survey will be used to evaluate the property for potential nickel-copper massive sulphide targets which will be tested by follow-up drilling. Maps & Images McFauld's West Map click on image to view enlarged | |||||
Technical ReportsMcFauld's Lake Project, James Bay Lowlands, Ontario, October, 2004 | |||||
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Chromite Facts Chromium is one of modern industry's most essential and versatile elements. In addition, it is one of the most important strategic and critical minerals. Of the many minerals that contain chromium, chromite is the only ore of commerce. It has a wide range of usage in three types of industries, namely the metallurgical, chemical and refractory. Chromium's use in iron, steel and nonferrous alloys enhances hardness and resistance to corrosion and oxidation. The use of chromium to produce stainless steels and nonferrous alloys are two of its more important applications. Other applications are in alloy steel, plating of metals, pigments, leather processing, catalysts, and refractories.Chromium is a steel-gray metal similar to platinum on luster. Some chemical constant of chromium include atomic number, 24; atomic weight, 51.996; density, 7.19 grams per cubic centimeter; melting point, 1,857 degrees Celsius (plus or minus 20 degree Celsius); and boiling point, 2,672 degrees Celsius. Chromium metal in its purest form (99.96% chromium) is produced in limited quantities by vapor deposition from anhydrous chromium iodide. Commercial chromium metal is produced either by electrolysis of a chromium-containing electrolyte or by aluminothermic reduction of pure chromic oxide. For most metallurgical applications, chromium is primarily used as additive in the form of alloys with iron and carbon as ferrochromium, or silicon as ferrochromium-silicon. Charge chromium is essentially a high-carbon ferrochromium with high silicon content. Chromium alloys, as well as chromium metal, are made in a number of commercial grades. The mineral chromite consists of varying percentages of chromium, iron aluminum, and magnesium oxides. Historically, chromite has been classified into general grades associated with end use: metallurgical, chemical and refractory. During the past decade, technological advances have allowed considerable interchangeability among the various grades, particularly chemical grade, which can be used in all three industries. Chromite ore and concentrates derived from chromite ore are further classified into three categories. These are ore and concentrate containing not more than 40% Cr2O3 (refractory industry), containing more than 40% Cr2O3 but less than 46% Cr2O3 (refractory, chemical and metallurgical industry), and 46% or more Cr2O3 (metallurgical and chemical industries).  Of the World's total production of chromite; approximately 94% is smelted into ferrochromium alloys. These are for subsequent use in the stainless steel, steel and other alloy industries. While China is the leading consumer of chromite in the world accounting for 70% of the world's production; Japan remains by far the world's largest average annual producer of stainless steel, followed by the U.S., China, Korea, Germany, Italy, Taiwan and India. Chromium metal is produced by the aluminothermic or electrolytic process. It is mainly used for specialty alloys. Two percent of the world's production of chromite was used in 2007 for chromium chemicals. The primary product from the chromite is sodium chromate. From this, a variety of other chemical products are made and used, for example, for tanning leather, as coloured pigments in paints, plastics and ceramics, and metal finishing such as chromium plating. Production of chromite for refractory use and foundry sands is about 4% of world production of chromite. Refractory chromite is used in sectors of ferrous and non-ferrous metallurgy, in cement kilns and in the glass industry. The value of chromite varies on the grade; high grade chromite (>40% Cr2O3) is currently valued at approximately US$150 per tonne. South Africa and Zimbabwe hold approximately 90% of the world's chromite reserves and resources. Major producers include Assmang Ltd., Kermas Group Ltd., (formerly Samancor Chrome Mines, South Africa), Xstrata South Africa Proprietary Ltd., and International Ferro Metals Ltd. World production of chromite in 2007 was 22 million tonnes, with the most intensive mining occurring in the Bushveld Igneous Complex in South Africa, followed by Kazakhstan and India. Other important countries with chromite deposits include Brazil, Finland, Russia, Turkey and Zimbabwe. In 2008, South Africa was unable to provide enough inputs for its electricity production, directly impacting the energy-intensive mining and processing of chromite ore. Total South African supply was affected markedly, and although oil prices have come down as a consequence of the credit crisis, peak oil logic dictates oil prices will rise again in the near future and remain above current levels. Global outlook is for continued rising prices and increasing demand. A large supply of this strategic metal in Canada, one of the most stable mining jurisdictions in the world, would be of great significance to the United States, which is currently dependant on chromium imports. | |||||
