TORONTO, ONTARIO--(Marketwired - Nov 21, 2013) - Probe Mines Limited (TSX VENTURE:PRB) ("Probe" or the "Company") is pleased to provide a progress update for its metallurgical program on the Borden Gold project. Preliminary metallurgical results for the potential underground high-grade gold mineralization extending east from the proposed open pit, have been received and show excellent extraction of gold using standard processing techniques. New composites were created based on the two (2) predominant gold bearing lithologies in that zone: felsic gneiss and pegmatite. The average head grades were 6.47 g/t Au and 9.52 g/t Au respectively. Metallurgical response of these composites to gravity and whole ore leach (WOL) were determined.
Gravity for the high-grade composites responded extremely well with an average of 60% gold extraction. Leaching was performed at two different grinds ~100 microns and ~60 microns, and in duplicate. Overall extraction ranged between 93.9% and 97.9%, and are presented in Table 1.
|WOL Extraction||Overall Extraction|
|Table 1: High-Grade Zone Metallurgical Extraction|
Completed work for the Preliminary Economic Assessment ("PEA") includes metallurgical and comminution testing on the lower-grade zone (open pit). Metallurgical tests include gold extraction from gravity, flotation and leach from different geo-domain composites, fine regrind, settling, and In-Line Reactor (ILR) test work. The comminution test program includes: Drop-Weight Test (DWT), SAG Mill Comminution Test (SMC), Bond Ball Mill Work Index (BWi), Rod Mill Work Index (RWi), Abrasion Index (Ai), Unconfined Compression Test (UCS) and Low Energy Impact Test. These results are providing the input data to perform a series of trade-off studies, in particular to compare the two main process options (gravity, whole ore leach vs. gravity, flotation and leach of flotation residues and reground flotation concentrate). For the low-grade zone, the flotation process route provides slightly better gold recoveries. Final results will be released upon completion.
Mr. Michael Petrina, Chief Operating Officer of Probe, states: "These metallurgical results from the high-grade zone are very encouraging and are not surprising given the amount of visible gold observed in drill cores. These results show an overall increase in gold extraction response. The potential for a simplified flowsheet, where no flotation/regrind option would be required has very positive implications in a potential development scenario. Borden Gold continues to improve in all areas".
The metallurgical testing was carried out under the supervision of BBA Inc. and was conducted by SGS Mineral Services (Lakefield) and Process Research Ortech Inc. (Mississauga). The contents of the above have been approved by Qualified Person Mr. Jacques McMullen, P.Eng of BBA Inc., independent consultants to Probe.
About Probe Mines:
Probe Mines Limited is a Canadian precious metals exploration company whose key asset is the Borden Gold Project in Ontario, Canada. As of July 31, 2013, the Company is well-positioned with approximately $38.5 million in treasury. The Company is actively exploring a significant new gold resource on its Borden Gold Zone near Chapleau, Ontario and has 100% interest in the Black Creek chromite deposit located in Northern Ontario. The Company's shares trade on the TSX Venture Exchange under the symbol PRB.
Michael Petrina, P. Eng., 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.
|On behalf of Probe Mines Limited,|
|Dr. David Palmer,|
|President & Chief Executive Officer|
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
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