Jul 18, 2005
Probe Mines Commences Drilling on its 100%-owned Victory Base Metal Project
TORONTO, July 18, 2005 - Probe Mines Limited (TSX-V: PRB) (http://www.probemines.com) is pleased to announce that drilling has commenced on its Victory Cu-Zn-Au-Ag project in the James Bay Lowlands, following completion of a highly successful ground geophysical program. The geophysical survey was designed to ground-locate selected airborne targets previously identified in the volcanic belt, and resulted in the delineation of 16 conductors on 14 grids. The anomalies all represent strong to moderate bedrock responses, and are similar to those associated with massive sulphide deposits. The initial diamond drilling program will comprise approximately 2000m to test 12 of the 16 conductors and results will be released as soon as they become available. The remaining conductors will be evaluated in future programs, which will also include additional ground geophysical surveys to test the more than 20 priority airborne anomalies not covered by the present ground program. A recently completed interpretation of the airborne geophysical results by Fugro Geophysics indicates at least 34 conductors with volcanogenic massive sulphide potential exist within the Victory property, up from the 23 initially identified in the field data and previously reported.
The Victory Project, named for the "V"-shaped outline of the belt, represents the potential for multiple base metal discoveries in an area that has already generated at least four Cu-rich massive sulphide deposits on the nearby property of Spider Resources (TSX-V: SPQ). This previously unexplored volcanic belt is an ideal host for base metal-rich volcanogenic massive sulphide (VMS) deposits, which tend to occur in clusters, and Probe was provided the rare opportunity of acquiring all of the conductors identified. Probe mines maintains 100% ownership of 494 claims (19,500 acres), acquired by staking immediately behind the first airborne electromagnetic survey flown over the belt.
The ground geophysical survey was completed by Exsics Geophysics of Timmins and utilized a MaxMin II system for the survey, while Norex Drilling of Porcupine, Ontario has been contracted for the diamond drilling. David Palmer, Ph.D., P.Geo., is the qualified person for all technical information in this release and will oversee the drilling operations.
Probe Mines Limited is a well-funded base and precious metal exploration company with a portfolio of highly prospective mineral properties. Probe has identified three separate base metal-enriched horizons on its McFauld's Lake property, while gold mineralization has been discovered on its Bristol Township property in the new West Timmins gold camp. As well, Probe Mines maintains a 5% net smelter 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 final 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:
President, Probe Mines Limited
Tel: 416-777-6703, Fax: (6705)
Harry J. Hodge
Director, Probe Mines Limited
Tel: 416-363-4376, Fax: (4606)
Agora Investor Relations
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: Tue Jul 26, 2005, Probe Mines Limited Announces Completion of $2,000,000 Private Placement to explore Victory Project
You can view the Previous News Releases item: Fri Jul 8, 2005, Probe Mines Limited Announces Completion of $1,800,000 of $2,000,000 Private Placement to explore Victory Project
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