Core Viewpoint - Probe Gold Inc. has successfully completed an agreement to acquire a 100% interest in the Bermont Claims, enhancing its Monique Gold Deposit and indicating strong potential for new gold resources and discoveries [2][3]. Acquisition Details - The acquisition cost for the Bermont Claims is $3.0 million, comprising $1.5 million in cash and 894,432 common shares valued at $1.677 per share based on the 10-day VWAP prior to closing [3]. - An additional milestone payment of $1.5 million is contingent upon confirming a mineral resource of at least 1,000,000 ounces of gold [3]. - Jadmine retains a 3.5% NSR over the Bermont Claims, with 2.5% available for Probe to purchase for $2,500,000 [3]. Property Overview - The Bermont Claims extend the eastern boundary of the Monique Deposit by 750 metres and consist of 10 contiguous claims within the Novador Development Project [2][6]. - The Monique resource includes 3.56 million ounces (Moz) Measured and Indicated (M&I) and 0.68 Moz inferred over a strike length of 2,500 metres [6][7]. - Historical drilling from 1945 to 2011 has identified high-grade zones at the Bermont and Adelemont areas, with minimal drilling conducted to date [6][8]. Geological Context - The Bermont and Adelemont mineralized zones share geological characteristics with the Monique gold deposit, indicating potential for further discoveries [7]. - Gold mineralization is associated with deformation zones and porphyry dykes within mafic to ultramafic volcanic assemblages [7]. Future Plans - The company plans to conduct exploration and resource expansion drilling as part of its 2025 program [2][3]. - The acquisition enhances the mine design and reduces costs by adding surface area near the Monique Pit [6]. Company Background - Probe Gold Inc. is focused on acquiring, exploring, and developing gold properties, controlling approximately 1,835 square kilometres of exploration ground in Quebec [11]. - The Novador project, part of the company's portfolio, includes four past-producing mines and represents a significant portion of its gold resources [10].
Probe Gold Completes Acquisition of Bermont Claims Adjacent to Monique Gold Deposit, Val-d’Or, Quebec