Probe Metals (PRB.V) released an updated resource estimate on its Val D’Or East project in Québec. The updated resource now contains 536,000 ounces of gold at 2.16 g/t gold in the indicated category as well as almost 250,000 ounces at 1.46 g/t in the inferred resource category, whilst it also outlined approximately 620,000 ounces (1/4 indicated, ¾ inferred) in an underground resource estimate at an average grade of 3.6 g/t.
This is probably still just the early phases of something that could potentially be interesting as the Val D’Or East project remains open in all directions, paving the way to further increasing and upgrading the existing gold resource. That being said, Probe’s main focus will now probably be zooming in on reducing the strip ratio as looking at the different geological models, it will have to excavate quite a few tonnes of waste.
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The author has a long position in Probe Metals. Please read the disclaimer
