Mar 16, 2004
PROBE MINES LIMITED Commences Geophysical Programs on McFauld's Lake Properties, James Bay Lowlands, Ontario
PROBE MINES LIMITED (TSX-V: PRB) is pleased to announce that a geophysical survey is currently underway on the McFauld's Lake properties in Northern Ontario. The properties are part of the intensive exploration initiated by the recent discovery of four volcanogenic massive sulphide (VMS) deposits by Spider Resources (TSX-V: SPQ). Probe has acquired over 5312 hectares of prospective ground, immediately adjacent to the discoveries.
Probe Mines is optimistic of the outcome of the ground geophysical survey as preliminary interpretation of the airborne conductors is very encouraging. The EM anomalies represent discrete zones within the volcanic sequence and range from 400 to 1200 meters in length. Some of the interpreted conductors are associated with broad zones of geophysical signatures indicative of hydrothermal alteration, a common component of a VMS-mineralized system. Eight grids, totaling approximately 54 kilometers, will be established, seven within Probe's 100% owned McFauld's Lake Project and one on the Probe Mines- Candor Ventures (TSX-V: CND) Joint Venture property located to the southwest (see press release February 24, 2004). Time domain electromagnetic surveys (TDEM) will be employed in order to achieve greater depth penetration and better delineation of conductive bodies. Discovery Int'l Geophysics has been contracted to carry out the surveys, expected to be completed in three to four weeks. Following interpretation of results a drilling program will be initiated as early as possible, contingent on weather conditions. Dr. David Palmer, P.Geo., is the qualified person responsible for the technical information in this news release.
Probe Mines Limited is a base and precious metal exploration company with a portfolio of high-quality mineral properties. As well, Probe Mines maintains a royalty 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.
To find out more about Probe Mines Limited (TSX-V: PRB), visit our website at www.probemines.com. or contact:
David Palmer, President Harry J. Hodge, Director
Probe Mines Limited Probe Mines Limited
Tel: 416-777-6703, Fax: 416-777-6705 Tel: 416-363-4376, Fax: 416-363-4606
[email protected] [email protected]
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 forwardlooking 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 from 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.
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