May 26, 2004
PROBE MINES LIMITED Commences Fieldwork on Bristol Township Gold Project, Timmins, Ontario
PROBE MINES LIMITED (TSX-V: PRB) is pleased to announce that fieldwork is currently underway on its 100% owned Bristol Gold Project, located along the predicted western extension of the Destor- Porcupine fault system. The Destor-Porcupine structure is responsible for the majority of gold deposits found in the Timmins mining camp, an area that has produced over 70 million ounces of gold since its discovery. The Probe properties are strategically located between three known gold deposits: Holmer Gold Mines' (TSX-V: HGM) and Lakeshore Gold's (TSX-V: LSG) Holmer Gold deposit; Band-Ore Resources' (TSX: BAN) Red Porphyry Zone; and Tom Exploration's (TSX-V: TUM) Bristol Gold Discovery, all of which occur within one kilometer of our western, southern and eastern boundaries, respectively. All three areas are currently undergoing intensive exploration, including significant diamond drilling.
Field programs on the Bristol Project will include ground geophysical surveys comprising Induced Polarisation (IP), Magnetics and Very Low Frequency (VLF) techniques, which have proven to be effective in locating structurally-controlled, gold-bearing sulphide mineralization similar to that identified in the known deposits. In addition, a surficial geochemical sampling program utilizing Mobile Metal Ion (MMIâ) soil analyses will be employed to prioritize geophysical targets for a follow-up drilling program, which is expected to start by mid-Summer. Probe Mines is optimistic of the outcome of the ground geophysical survey, as a preliminary desktop study has indicated the presence of numerous untested IP anomalies associated with structures intersecting the favourable geological horizons within our claim boundaries. As well, previously unidentified outcroppings of altered and deformed sulphide-mineralized rock, which trend onto the Bristol property, were discovered in a recent field visit. A total of seven priority areas have been identified, which will be the focus of the current exploration program. Dr. David Palmer, P.Geo., is the qualified person responsible for the technical information in this release.
Probe Mines Limited is a well-financed base and precious metal exploration company with a portfolio of high-quality mineral properties, including the McFauld's Lake Project, which is immediately adjacent to the base-metal discoveries of Spider Resources (TSX-V: SPQ) in the James Bay Lowlands. Probe recently closed a $1,000,000 financing, which it will use to fund exploration (see Press Release of April 26, 2004). 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 de-watering. 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: (6705) Tel: 416-363-4376, Fax: (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 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.
You can view the Next News Releases item: Thu Jun 10, 2004, Probe Mines Engages Ensign Corporate Communications for Investor Relations, Corporate Update: Exploration Accelerates on McFauld's Lake and Bristol Projects
You can view the Previous News Releases item: Mon Apr 26, 2004, Probe Mines Limited Completes $1,000,000 Private Placement Financing
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