Q2 Probe Gold Quarterly Update 12024.pdf
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Q2 Probe Gold Quarterly Update 12024.pdf
- 1. TSX : PRB Q2 2024 Quarterly Update
- 2. Forward Looking Statements 2 Forward Looking Information This presentation may include certain “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future plans and objectives of Probe Gold Inc. (“the Company”), future opportunities and anticipated goals, the company’s portfolio, treasury, management team, timetable to permitting and production and the prospective mineralization of the properties, are forward-looking statements that involve various risks, assumptions, estimates and uncertainties. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved”. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward- looking information is subject to known and unknown risks, including but not limited to: an inability to complete the business combination; general business, economic, competitive, geopolitical and social uncertainties; delays in obtaining or failures to obtain required governmental, regulatory, environmental or other required approval; the actual results of current exploration activities; acquisition risks; and other risks of the mining and resource industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These statements reflect the current internal projections, expectations or beliefs of the Company are based on information currently available to the Company. The Company do not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company believe that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be unduly relied upon by investors as actual results may vary. Unless required to be updated pursuant to securities laws, these statements speak only as of the date of this presentation and are expressly qualified, in their entirety, by this cautionary statement. National Instrument 43-101 The technical and scientific information contained herein relating to the Novador (Former Val-d’Or East) Project is derived from National Instrument 43-101 (“NI 43-101”) compliant technical reports (“Reports”). The Reports are available on SEDAR at www.SEDAR.com under the Company’s issuer profile and on Probe Gold website at www.probegold.com. The 2023 Novador Mineral Resource Estimates were independently prepared by InnovExplo Inc. and are dated January 16, 2023, and July 13, 2023. A Preliminary Economic Assessment report has been prepared by Ausenco Engineering Canada Inc., Moose Mountain Technical Services, GoldMinds Geoservices Inc, Geologica Groupe-Conseil Inc., and Lamont Expert Conseil Inc., and is dated September 7, 2021. This Presentation uses the terms “indicated resources” and “inferred resources”. Although these terms are recognized and required by Canadian regulations (under NI 43-101), the United States Securities and Exchange Commission does not recognize them. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no guarantee that all or any part of the mineral resource will be converted into mineral reserves. In addition, “inferred resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or prefeasibility studies, or economic studies, except for a Preliminary Economic Assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists or is economically or legally mineable. The reader is advised that the Preliminary Economic Assessment summarized in this presentation is intended to provide only an initial, high-level review of the project potential and design options. Currency Unless otherwise indicated, all dollar values herein are in Canadian $.
- 3. Thick gold zones intersected in expansion drilling along the Courvan trend Q2 Milestones Achieved Corporate Development Milestones Exploration May 28, 2024 Beaufor and McKenzie property acquisition completed Advanced environmental permitting by submitting detailed project description New multiple high-grade gold intercepts in both expansion and infill drilling at Monique Apr 23, 2024 Apr 3, 2024 Bolstered treasury by raising $18mm in a private placement May 30, 2024 May 15, 2024 3
- 4. 2024 Q2 Update – NOVADOR and New Gold Projects, Val-d’Or Development Q2 ACHIEVEMENTS PERMITTING Ø Submitted the Detailed Project Description to the Impact Assessment Agency of Canada Ø Public consultations for the Federal Environmental Impact Statement (EIS) Guidelines NEXT QUARTER Ø Stakeholder consultation to continue Ø Submit “Avis de Projet” to the Quebec government to initiate the provincial permitting process Ø Obtain final EIS Guidelines from both the Federal and Provincial governments Ø Initiate Physical Environment Baseline Studies Ø Continue Biological Environment Baseline Studies Exploration Q2 ACHIEVEMENTS NOVADOR Ø New 10,000 metres drill program commenced at Novador, with 3,000 metres already completed on the Courvan trend Ø Upcoming mineral resource estimate - updated 3D models with new results ACQUISITION OF BEAUFOR AND MCKENZIE BREAK COMPLETED Ø Beaufor – Added high-grade measured and indicated gold resource: 219,200 ounces at 5.3 g/t, with an inferred mineral resource of 122,500 ounces at 4.7 g/t Ø McKenzie Break – Added high-grade indicated gold resource: 146,000 ounces at 2.5 g/t, with an inferred mineral resource of 250,600 ounces at 2.3 g/t. DRILL RESULTS Thick gold zones discovered at Courvan, including 1.1 g/t over 133 metres, 3.2 g/t Au over 19.0 metres, and 1.7 g/t Au over 17.0 metres Multiple zones intercepted at Monique, including 23.1g/t over 3.1 metres, 4.3 g/t Au over 16.0 metres; 4.2 g/t Au over 14.7 metres and 1.8 g/t Au over 34.0 metres NEXT QUARTER Ø New drill results from Croinor and Monique Ø Continue regional geochemical programs on new Exploration targets on Val-d’Or and Detour properties Ø Complete McKenzie Break and Beaufor compilation and work proposals Ø Continue to work on the updated mineral resource estimate which is scheduled to be released in early fall 4
- 5. 2024 Q2 Update Detour Quebec Ø Commence soil geochemistry survey on western area of the Lower Detour Deformation Zone Ø Complete all surveys and studies on both work areas Ø Preparation for possible Fall drill program NEXT QUARTER Exploration Q2 ACHIEVEMENTS Ø Commenced soil geochemistry survey on La Peltrie Cu-Au-Ag- Mo discovery Ø Commenced structural analysis studies over both La Peltrie Cu-Au-Ag-Mo and western area of the Lower Detour Deformation Zone, adjacent to Agnico-Eagle’s Detour Lake Mine Ø Released results from 2023 drilling program, which returned anomalous gold assays 5