Dec 15, 2004
PROBE MINES LIMITED to Begin 2nd Phase Drilling on Bristol Gold Discoveries, January 2005
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
TORONTO, Dec. 15 /CNW/ - The Directors of PROBE MINES LIMITED (TSX-V: PRB) are pleased to announce a second phase of diamond drilling to commence on the Bristol Township Property in early January 2005. This program will test the lateral and vertical extent of the two new gold zones intersected in the drill program completed in November. In addition to these two intersections of potential economic significance, three highly anomalous zones were also identified on the Bristol Property in the November drilling and these zones will be the focus of future exploration programs.
The two zones being investigated in the upcoming program comprise an 11m interval of 1.9g/t Au, including five samples (5m) ranging between 2.71 and 4.15 g/t Au and a six-meter intersection averaging 2.4 g/t Au, with three samples containing between 5 and 6g/t Au. The geological setting of these zones bears a marked similarity to the Holmer Gold Deposit, which lies less than two kilometers southwest and along strike of the new discoveries. Holmer Gold (TSX-V-HGM)/Lakeshore Gold (TSX-V: LSG) have recently released an updated resource estimate for their deposit of 724,000 ozs. Au, with grades typically increasing with depth. Probe Mines expects that its gold mineralization may be similarly higher grade at depth.
Norex Drilling of Porcupine, Ontario, which was contracted for the first program, will again provide drilling services for the second phase program. A minimum of six holes (900m) will be carried out in this program, three on each zone.
Probe Mines Limited is a base and precious metal exploration company with a portfolio of highly prospective mineral properties. In addition to the positive results from the Bristol Gold Project, Probe has recently identified three separate base metal-enriched horizons on the McFauld's Lake property, with a total potential strike length of more than 10km. As well, Probe Mines maintains a 5% net smelter royalty (NSR) interest in claims covering part of Agnico-Eagle Mines Limited (TSX: AGE) Goldex Mine property in Val d'Or, Quebec, which is currently undergoing feasibility studies. Probe's shares trade on the TSX Venture Exchange under the symbol PRB.
Dr. David Palmer, P.Geo., is the qualified person for all technical information in this release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Probe, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. Important factors that could cause actual results to differ materially from Probe's expectations are exploration risks detailed herein and from time to time in the filings made by Probe with securities regulators.
/For further information: To find out more about Probe Mines Limited
(TSX-V: PRB), visit our website at www.probemines.com. or contact
David Palmer, President, Probe Mines Limited, Tel: (416) 777-6703, Fax:
(6705), dpalmer(at)probemines.com; Harry J. Hodge, Director, Probe Mines
Limited, Tel: (416) 363-4376, Fax: (4606), hjhodge(at)geocanex.com;
Tim German, Ensign Corporate Communications, Tel: (416) 214-3655/
CO: Probe Mines Limited
CNW 09:51e 15-DEC-04
You can view the Next News Releases item: Thu Jan 6, 2005, Probe Mines Retains AGORA Investor Relations and Stockgroup
You can view the Previous News Releases item: Fri Oct 22, 2004, PROBE MINES LIMITED Identifies Three Highly Anomalous Base Metal Horizons at McFauld's Lake, James Bay Lowlands; Receives Strongest Au Anomaly to Date from MMI Geochemical Program on Bristol Property, Timmins; Announces New Chairman and Honourary Chairman
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