Drill Results June 2011
On June 7, 2011, results for diamond drill holes BL11-29 to BL11-36 were received and have successfully extended the Borden Lake gold zone mineralization to approximately 1.2 kilometres in strike length. The mineralized zone remains open in both directions along strike and to depth.
Probe has now drilled over 14,000 metres in 62 holes (BL10-09 to BL11-70) and to date has tested approximately 1.6 kilometres of strike length along the zone, which remains open in all directions. A second drill has been added and drilling will continue testing the strike and depth extents of the gold zone until the full limits of the mineralized horizon have been tested.
Significant widths of gold mineralization were returned from all holes, including: a 127 metre interval averaging 0.8 g/t Au, containing a 21.6 metre section grading 1.4 g/t Au in Hole BL10-30; a 126.7 metre interval grading 0.8 g/t Au, including two sections of 15.4 and 14.7 metres averaging 1.4 g/t and 2.0 g/t Au, respectively in Hole BL11-32; and a 96.7 metre zone grading 0.8 g/t Au including 31.6 metres averaging 1.2 g/t Au in Hole BL11-36. The following table presents the highlights from the drilling.
DRILL RESULTS JUNE 21, 2011
Results for diamond drill holes BL11-37 to BL11-48 were received and extended the Borden Lake gold zone mineralization along approximately 1,600 metres of strike length, while still remaining open in all directions. The program has now identified continuous gold mineralization along 1,600 metres of strike length from surface to vertical depths of up to 340 metres and contains intersections from 25 metres to over 200 metres wide.
Drilling is ongoing and is focusing on expanding the limits of mineralization along strike and at depth as well as infilling the current 100m-spaced drill sections. The drill program is currently on Hole BL11-79, and is testing the 800m NW section which, by visual observation, has extended the mineralization to a 1,700m strike length.
With 78 holes completed, the program has now conducted sufficient drilling for the calculation of an NI 43-101-compliant initial resource estimate, which will begin when all of the assays have been received for the currently completed holes. The continuity and consistency of mineralization is expected to facilitate the generation of a resource estimate for the Borden Lake Zone.