Probe Gold Inc. has announced the commencement of a 4,000 m drilling initiative on its Croinor Gold property. The acquisition of this property occurred in July, driven by its perceived potential for substantial growth in high-grade resources and the possibility of discovering further prospects within this relatively unexplored territory.
Probe Gold Val-d’ Or properties with the Croinor drilling area. Image Credit: Probe Gold Inc.
Situated near the Company's Novador project, this property could serve as an additional supply for the proposed centralized. The primary objective of the program is to expand the high-grade mineralization resources at the Croinor gold deposit. With the deployment of two drill rigs, the program aims to investigate 20 high-priority targets within Probe’s 100%-owned property.
We are pleased to have launched our initial drilling program on the Croinor property in such a short time since its acquisition. This speaks to the potential we see for resource growth and regional exploration on this target-rich property. Croinor fits very well into our existing development model for Val-d’Or, and substantially increases our current inventory of high-grade gold resources by approximately 228,000 ounces.
David Palmer, President and CEO, Probe Gold Inc.
David Palmer adds, “It also gives us an additional 152 square km of untapped and promising terrain in the historically underexplored Val-d’Or East area, offering potential for new discoveries. Our immediate goal for Croinor is to advance resource expansion and eventually integrate it into our Novador development plans. We anticipate that this acquisition will bolster our resource base and, ultimately, our production plans, creating substantial value for our shareholders.”
Croinor Property
The Property is situated 58 km east of the Novador project in Val-d’Or, Quebec, and encompasses one mining lease and 337 claims, covering an area of 152 square km. It currently holds a measured and indicated resource of 805,900 tons at a grade of 6.47 g/t, amounting to 187,900 ounces of gold, with an inferred mineral resource of 200,100 tons at a grade of 6.19 g/t, representing 39,800 ounces of gold. The property is now part of the company's Val-d’Or consolidated land package, which spans approximately 600 square km.
The Property is intersected by the Garden Island Deformation Corridor (GIDC) in a northwest-southeast direction, representing a significant fault that follows the contact between the Assup and Garden Island domains. The probe is actively exploring the GIDC on its Novador project as a key component of the company’s exploration initiative in 2023.
The Croinor Gold deposit is situated within a synvolcanic dioritic sill, measuring 60 to 120 m in thickness, and is hosted within volcanic rocks of the Assup Domain. This deposit is characterized by gold-rich lenses composed of quartz-carbonate-tourmaline-pyrite veins, altered pyritic host rock material, and/or tectonic breccia.
The mineralized lenses within the area span from 60 to 120 m in length and demonstrate a lateral continuity ranging from several tens of meters up to 600 m. Approximately 40 gold-rich lenses have been identified thus far.
The adjacent gold showings surrounding the Croinor deposit have undergone limited exploration via trenching and drilling. Gold mineralization is primarily discovered in vein systems within or in association with dykes, sills, or intrusives amid volcanic formations.
Notably, the Croinor gold system exhibits potential for further expansion, and a significant portion of the property remains unexplored using contemporary exploration techniques.
Source: https://probegold.com/