TSX : PRB
Q4 2023 Quarterly Update
Forward Looking Statements
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 $.
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2023 Milestones Achieved
Q2 | Updated Val-d'Or Resource: |
Total inventory of 3.8Moz M&I, |
1.4Moz Inferred Category
Q4 | 85,600m of drilling completed for next |
resource estimate | |
Q3 - Q4 | Strong Drill results from Monique and |
Courvan Deposits |
Q4 | Acquired Croinor Property and |
completed 6,500m of resource | |
drilling |
Q3 | Initiated updated PEA |
Exploration Corporate
Development
Milestones
Q3
Q1 | Graduation to TSX Exchange |
Name change and new website |
Q1-Q4 | Increased marketing, post Covid |
Q4 | Successfully financed Company for 2024 |
Q4 | Filed Initial Project Description |
Sustainability Initiatives
ESG report
ECOLOGO certification
2023 Q4 Update - NOVADOR and CROINOR Gold Projects, Val-d'Or
Exploration
Q4 ACHIEVEMENTS
NOVADOR
Monique Drill results (October & November 2023)
- Expansion drilling - intersected 26.9 g/t Au over 4.0m (68.1 g/t Au over 4.0m uncut)
- Infill drilling - intersected thick gold zones
- up to 6.4 g/t Au over 18.3m (11.8 g/t Au over 18.3 metres uncut), 3.4 g/t Au over 34.0 m, 3.3g/t Au over 27.9m and 5.4 g/t Au over 9.4m
2023 Drill program
Completed over 73,500 meters of drilling by mid-December 2023
- Novador Expansion Drilling - 60,000 metres completed - visual results encouraging
- Novador Exploration Drilling - 13,500 metres completed - visual results encouraging
CROINOR
6,500m drilling program completed in December - visual results encouraging
Development
Q4 ACHIEVEMENTS
Updated PEA
- Finalization of open pit designs and advancement of underground infrastructure and stope designs
- Process plant equipment sizing completed
- Tailings trade-off study completed
- Integration of open pit and underground mine schedule on-going
- Permitting - Initial Project Description submitted to the Impact Assessment Agency of Canada to kick-off the official start of the federal permitting process; public consultations held early December; waiting on complete list of comments from the
IAAC
NEXT QUARTER
- Continue Expansion Drilling program on Novador deposits (~30,000m in Q1).
- Drilling will resume on the first week of January with two drills at Monique and four drills at Courvan
- Continue regional geochemical programs on new Exploration targets on Val-d'Or properties
- Release drill Results from 2023 Expansion and Exploration at Novador
NEXT QUARTER
- Finalizing opex, capex and financial model
- Release of Updated PEA (Q1 2024)
- Stakeholder consultation to continue
- Continue to advance permitting schedule
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2023 Q4 Update Detour Quebec
Exploration
Q4 ACHIEVEMENTS
-
Detour (Western and
Central areas 100% Probe owned) - Drill program completed (4,900 metres)
- Detour La Peltrie (Midland option)
- Drill program completed (2,700 metres) - Cu-Au-Mo-Ag mineralization intersected
NEXT QUARTER
Ø Drill Results
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Disclaimer
Probe Gold Inc. published this content on 02 January 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 January 2024 16:42:47 UTC.