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Overview
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Probe currently controls over 14,896 hectares of greenstone belt stratigraphy around McFauld's Lake, making the Company one of the largest landowners in the area. Probe's projects in the McFauld's Lake area include the Company's 100%-owned McFauld's Lake West and Victory projects and its joint venture on the Tamarack project with Mantis Minerals.
The region, in the southern part of the Sachigo River Greenstone Belt, has been the centre of considerable exploration activity since the discovery of polymetallic volcanogenic massive sulphide (VMS) mineralization by DeBeers Canada in 2002.
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.
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McFauld's Lake West Project
The McFauld's Lake West Project includes a 100% interest in 12 claims (192 hectares) that lie less than 450 metres from the site of Noront Resources' significant new nickel-copper discovery and represents one of the closest properties to the discovery. Probe has initiated a new exploration program centered over a magnetic anomaly identified from regional airborne data, that is similar to the one associated with Noront's new nickel/copper/pgm discover. Noront's Hole NOT-07-05, is the most significant hole to date, as the most recent assay results include; 68.3 meters averaging 5.9% nickel, 3.1% copper, 2.87 g/t platinum, 9.78 g/t palladium, 0.61 g/t gold and 8.5 g/t silver; the highest grades were from a 3 meter section of hole that averaged 8.7% nickel, 10.9% copper, 40.79 g/t platinum, 14.57 g/t palladium, 9.39 g/t gold and 8.7 g/t silver.
The McFauld's West property hosts two distinct magnetic anomalies to the north and northwest of the high grade nickel-copper mineralization comprising Eagle one, which resemble the Noront discovery. In early 2008, a soil mobile metal ion (MMI) geochemical survey was completed over the eastern of the two magnetic anomalies on Probe's property and returned significantly anomalous base and precious metal results over a 200m long section of the profile. Samples displayed highly anomalous values for nickel, copper, silver and cobalt with response ratios of up to 9.1, 36, 18 and 14.5 times background, respectively, while gold consistently showed values of 4 times background. In addition, the results show a strong internal consistency to the data suggesting that these elements, typically found in sulphide mineralized mafic-ultramafic intrusives, are traveling together and most likely derived from a unique source.
In August 2008, a total of eight holes were completed during first-phase drilling on the McFauld's West property. Ultramafic intrusive rock was intersected in three of the eight holes, and represent three unique bodies. Diamond drill holes MW-02 and MW-08 identified a thick (over 80 metres) peridotite intrusive body, which closely resembles the host peridotite of the Eagle One nickel-copper discovery. The holes were designed to test a number of discrete geophysical anomalies identified through the ground program, however, the anomalies were not explained by the amount of sulphides observed in the core and further work is required. Drill hole MW-01 was collared to test the "mafic" dyke identified in outcrop during the winter geophysical program and intersected two separate ultramafic dykes at depth. The dykes were barren of sulphide at this location. The peridotite and ultramafic dykes have been sampled and assay results will be released once they are received.
The assay results have been received for core samples from the recently completed drilling program on the Company's 100%-owned McFauld's West property. Although only representative sampling of the peridotite was undertaken during the program, three of nine samples from the 60m intersection in hole MW08-08 returned significant and highly anomalous values in platinum, palladium and gold. A one metre section of peridotite at 136 metres depth returned the highest values with a combined 2.1g/t of platinum, palladium and gold. In addition, a 1.9m section of peridotite starting at 142m depth returned an average grade of 0.36 g/t combined platinum, palladium and gold. Nickel values in the PGE mineralized zones were also anomalous returning values of up to 416ppm.
These intervals were taken as representative samples and therefore the core on either side was not split for assay. In response to these significant precious metal results in only a limited number of samples,has split and sent the remaining 51 metres of peridotite core for assay in order to better evaluate the potential of the body as a platinum group element (PGE) host. Additional sampling was also be undertaken on drill hole MW08-02, which intersected a similar interval of peridotite in the same intrusive body.
The preliminary assay results for the McFauld's West core samples are very encouraging and suggest that the peridotite on the McFauld's West property has the potential to host PGE mineralization. The Company is encouraged by these metal results from only a limited sampling of the peridotite and, owing to the difficulty in identifying PGE mineralization through visual observation, believes there is a strong possibility that the PGE mineralization is more widespread. The presence of PGE also provides encouragement for other metals, such as nickel and copper, in the host peridotite. It is important to note that the peridotite has only been drilled to a maximum vertical depth of 120m, and the potential for additional mineralization at depth remains high.
Owing to the presence of potential nickel-PGE host rocks and the lack of explanations for the geophysical and geochemical anomalies, a VTEM survey was completed in August and will be followed by a deep-penetrating, high resolution ground geophysical survey. The results of the drilling indicate that previous surveys lacked either the depth penetration or resolution and future surveys will correct this in preparation for second phase drilling, which will be announced once a date has been set.
Tamarack Project
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Probe's 100%-owned Tamarack Project consists of 360 claims covering a 5,800 hectare area in the McFauld's Lake area in James Bay Lowlands of Northern Ontario.
Following the success of a limited Phase One diamond drill program (940 metres in 5 holes) in 2004, Probe commenced a helicopter-borne electromagnetic ("EM") and magnetic geophysical survey in January, 2005 to provide better resolution of existing targets. This led to the delineation of at least five moderate to strong bedrock conductors, 0.4 to 1.3 km in length, two of which were not yet drill tested.
A Phase Two drill program (402 metres in 3 holes) aimed at testing these new targets commenced in September, 2005. The discovery hole, M6, intersected a 7.8 metre section of chalcopyrite-rich VMS mineralization grading 3.1% copper in the A-zone, starting at a vertical depth of 50 metres. Drill hole M7, collared 50 metres west and down dip from M6, intersected the A-zone at 97 metres vertical depth and returned 2.4% copper over 6.0 metres. Both intercepts also returned anomalous concentrations of zinc, gold and silver.
In late 2005, Probe conducted a ground-based InfiniTEM geophysical survey on the Tamarack project, centred over the A-zone. Results indicate the A-zone has a strike length of at least 500 metres. In addition, two high-priority targets have been delineated 600 metres to the south and 1200 metres to the north of the A-zone. These new targets comprise bedrock conductors coincident with strong magnetic anomalies. The southern anomaly consists of a 400 metre long horizon displaying stronger conductivity than the A-zone, while the northern zone extends for over 600 metres in length. The two new anomalies lie within the same stratigraphic horizon as the A zone, indicating potential for similar style VMS mineralization.
The discovery of copper-rich VMS mineralization on the Tamarack project is confirmation that identification and drilling of geophysical anomalies is an excellent exploration technique in the McFauld's Lake area.
In May 2007, Probe finalized an option with Mantis Mineral Corp. for the acquisition of a 51% interest in Probe's 100%-owned Tamarack Project located in the McFauld's Lake area, James Bay Lowlands, Ontario. The project consists of 360 claims covering a 5,800 hectare area in the McFauld's Lake area and includes Probe's high-grade "A-zone" copper discovery. The property is located to the north of Spider Resources' significant copper discovery. Probe is looking forward to working together with Mantis to advance the Tamarack Project. Mantis has made a commitment to spend $500,000 on the project over the next three years; with $100,000 to be spent the first year.
Additional McFauld's Lake Properties
Probe Mines owns an additional 75 claim units situated between, and northeast of, Noront Resources Eagle One and AT-12 massive sulphide discoveries and exploration is now being planned for these properties. The claims are located along the trend of ultramafic rocks between Noront's Double Eagle and Probe's Tamarack Projects, and share boundaries with Freewest Resources', Fancamp Exploration's and Noront's properties. A deep-penetrating helicopter-borne survey was completed in August 2008 and will be followed by drilling of airborne targets.
Victory Project
In March 2005, Probe identified a previously unknown and unexplored greenstone belt proximal to recent copper-rich base metal VMS discoveries, east of the Company's Tamarack project in the James Bay Lowlands of Northern Ontario. It was immediately apparent to the Company that the newly discovered Victory Belt, named for the V-shaped outline defined by airborne geophysics, held excellent potential to develop into a new VMS camp. As a result Probe acquired a 100% interest, by staking, in the Victory project, which consists of 493 claims totaling 7,888 hectares and covering at least 34 airborne EM conductors.
The Victory project lies approximately five kilometres southeast of Probe's Tamarack project and as is typical for this area of subdued topography and Paleozoic cover, is best explored by geophysical surveys followed by diamond drilling. Phase One (2,301 metres in 13 holes) and Two (894 metres in 6 holes) diamond drill programs were completed in August to October 2005, with disseminated to massive sulphides cut in 16 of 19 holes -- an exceptional success rate on blind grassroots targets.
In August 2008, Probe completed a summer drilling program on the property. Core samples from hole V08-27, which intersected a 30 metre thick unit of sulphide mineralized ultramafic intrusive, returned anomalous values of nickel, copper, platinum and palladium throughout the section. The ultramafic is situated at the end of an over 300 metre long airborne conductor and suggests the potential for higher-grade and thicker mineralization towards the middle of the zone. A VTEM airborne survey has been completed in preparation of further drilling.
Holes V08-24, V08-26 and V08-27 all returned anomalous values of copper and zinc within sulphide mineralized sections of the volcanic sequence and indicate a potential for volcanogenic massive sulphide (VMS) type deposits within the volcanic package.
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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".
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