Sep 15 2016
Probe Metals Inc. ("Probe" or the "Company") is pleased to announce that it has acquired from Richmont Mines Inc. ("Richmont") a 100% interest in six mining claims (the "Claims") contiguous to the Company's Val-d'Or East Project, Quebec. The Claims are located immediately west of Probe's New Beliveau deposit, which contains the majority of the 770,000 ounce NI 43-101-compliant gold Mineral Resources reported in 2013. Owing to their close proximity to New Beliveau, the six claims enhance Probe's strategic land position by adding significant exploration and potential development value to the Val d'Or East project
In consideration of the six claims (see figure 1), Probe transferred four isolated mining claims, comprising its Beaufor West property, to Richmont. The claims are located wholly within Richmont's Beaufor Project and were considered non-core to the Val-d'Or East project.
"Figure 1. Val-D'Or East" is available at the following address: http://media3.marketwire.com/docs/Fig1_VDE_Claimsswap.jpg
About Probe Metals:
Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The Company is well-funded and controls a strategic land package of over 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Ontario and Quebec: Val d'Or, West Timmins, Casa-Berardi and Detour Quebec. The Company is committed to discovering and developing high-quality gold projects, including its key asset the Val-d'Or East Gold Project. The Company was formed as a result of the sale of Probe Mines Limited to Goldcorp on March 13, 2015. Goldcorp currently owns a 14% stake in the Company.
On behalf of Probe Metals Inc.,
Dr. David Palmer,
President & Chief Executive Officer
Source: https://www.probemetals.com/