Feb 21, 2006
Probe Mines Commences McFauld's Lake Area Winter Drill Program
Toronto, February 21, 2006 - The Directors of Probe Mines Limited (TSX-V: PRB) are pleased to announce that a winter drill program has commenced on its McFauld's Lake area projects in the James Bay Lowlands of Northern Ontario.
Two diamond drills have been mobilized to the area. One drill has commenced drilling on the Double Eagle joint venture; the second drill is anticipated to be drilling on the Company's 100%-owned Tamarack project (formerly named the McFauld's Lake project) by the end of the week. A total of 5,000 metres in 25 to 30 holes is planned before break-up in April. The drill currently on the Double Eagle will test targets on the Company's Double Eagle and Fancamp joint venture projects. The second drill will be devoted to testing targets on the Company's 100%-owned Tamarack project, where drilling in late 2005 led to the discovery of the copper-rich A-zone (see Press Release dated November 1, 2005).
Dr. David Palmer, President of Probe, states "This drill program is an excellent opportunity to further delineate our new A-zone VMS discovery, as well as begin to test numerous high-quality anomalies in the vicinity of the AZone and on new ground within the McFauld's Lake area".
Initial drill testing of an airborne conductor in late 2005 led to the discovery of copper-rich volcanogenic massive sulphide (VMS) mineralization grading 3.1% copper over 7.8 metres at a vertical depth of 50 metres in the Azone. A second hole drilled below the initial discovery cut 2.4% copper over 6.0 metres at 97 metres vertical depth. Both intercepts contain anomalous concentrations of zinc, gold and silver.
Following discovery, a detailed ground-based infiniTEM deep electromagnetic geophysical survey was conducted over the property. The results of this survey indicate a minimum strike length of 500 metres for the A-zone. Furthermore, two additional bedrock conductors were defined. The first of these, located 600 metres south of the A-zone, consists of a 400 metre long horizon displaying stronger conductivity than the A-zone. The second of these conductors is located 1,200 metres north of the A-zone and has a strike length in excess of 600 metres. Drilling on the Tamarack project will commence with additional testing of the A-zone, followed by initial drill testing of the new conductors.
Double Eagle and Fancamp Joint Ventures
In December 2005 the Company signed a joint venture agreements with Noront Resources Ltd. to acquire a 50% interest in the Double Eagle project and in January 2006 the Company signed a joint venture agreements with Fancamp Exploration Ltd. to acquire a 100% interest in an adjacent project. The two project areas are located 2 to 34 km southwest of the Tamarack project and give Probe in excess of 40 km strike length of highly prospective stratigraphy along strike from the Tamarack project A-zone and other VMS discoveries in the McFauld's Lake area.
Airborne and ground-based geophysical surveys over the project areas conducted by past operators have identified in excess of 50 conductors, which have yet to be drill tested. The current program will constitute an initial drill test of several of these targets.
About the Company:
Probe Mines Limited is a Canadian base and precious metal exploration company with a portfolio of highly prospective mineral properties. Probe has made a significant copper VMS discovery during recent drilling of the A-zone on its Tamarack project in the James Bay Lowlands, Ontario, and now has access to over 22,000 hectares of volcanic stratigraphy in the McFauld's Lake area. In addition, Probe has recently signed a joint venture agreement on its Bristol Township project located in the new Timmins West gold camp and adjacent to the Timmins West deposit of Lake Shore Gold Corp. Probe's shares trade on the TSX Venture Exchange under the symbol PRB.
David Palmer, Ph.D., P.Geo., is the qualified person for all technical information in this release. To find out more about Probe Mines Limited, visit our website at www.probemines.com, or contact:
Fiona Childe, Ph.D.
Manager of Corp. Communications
Tel: (416) 777-6703
Harry J. Hodge, P.Eng.,
Tel: (416) 363-4376
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: Wed Feb 22, 2006, Probe Mines Announces Completion of $1,500,000 Non-Brokered Private Placement to Explore McFauld's Lake Area Projects
You can view the Previous News Releases item: Mon Jan 30, 2006, Probe Mines to Option Fancamp Property in the McFauld's Lake Area, James Bay Lowlands
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