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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (157049)	7/20/2023 3:16:50 AM
From: Goose94	Read Replies (1) \| Respond to of 202704

Probe Gold (PRB-T) an updated its resource estimate for the Val d'Or properties in northwestern Quebec. At Novador, Probe now lists 67.6 million tonnes measured and indicated at 1.63 grams of gold per tonne and 16.7 million tonnes inferred at 2.03 grams per tonne, a total of over 4.6 million ounces of gold. Over 3.4 million of those ounces are deemed open-pittable, with the other 1.2 million residing deeper underground at just over 2.5 grams per tonne. The company also lists nearly 240,000 additional ounces, mainly underground, in the Lapaska and Sleepy deposits. The new calculations represent "significant improvement in both expansion and conversion," Probe cheers, and Mr. Palmer, president and CEO, was ebullient, if short of expansive. He was "pleased to report" that last year's "most ambitious drill program" was successful in its goal of converting inferred rock to measured and indicated, "while continuing to expand the mineral resources at Novador." Therefore, he enthuses, Probe will be updating its 2021 preliminary economic assessment to "not only capture additional value," but to "impart greater certainty" compared to the earlier version. The less-certain dream sheet, based on about 3.7 million ounces of gold at Novador, proposed a $353-million, 12.5-year mine that would run at 10,000 tonnes per day, averaging just over 200,000 ounces of gold per year during its run. The bottom line was promising, with an internal rate of return of nearly 33 per cent and a discounted net present value of nearly $600-million after taxes. Mr. Palmer now says that an updated study based on the new resource estimate will "provide a more comprehensive representation of the project's expansion and progression towards a larger production scale. Stay tuned. Business Reporter