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THERE IS GOLD IN THE NOSE/FOLD/HINGE!
Look at the wording of the latest report!
Exploration Upside Has Multiplier Effect
The current resource is open in all directions and has already been extended by 100m to
1,700m along strike to the north west. However, we believe that the most significant
exploration upside comes from the rest of the Borden Lake belt, particularly in the
hinge zone (nose target) and in the neighbouring limb zone (Figure 6) where similar
geophysical results to those that overlay the current deposit (Figure 7) were found. The
main interpretation of the geophysics of the nose target is that the mineralization could be
thicker though grades would unlikely be higher than the grade of the current deposit.
To add further support to the possibility of finding the continuation of mineralization
along the Borden Lake belt, an outcrop was discovered on the limb zone (Figure 8),
which compares to the outcrop found along the deposit to the south. Due to the
orientation of the outcrop, one interpretation is that the mineralization possibly forms a
saddle or a bowl around the Borden Lake belt. Either way, if a mirror image of the
current deposit is found to the north this could mean a doubling of the resource
just 2-3 km away, a very promising prospect, in our opinion.
The first round of drilling on the limb zone was recently completed and assay results should
be due by the end of November. In our opinion, any drill results similar to what has been
found so far (broad intersections on the order of 100m at 1.0 g/t gold material) could
indicate the presence of another significant mineralized body along the Borden Lake belt
and could vault Probe Mines into the 5 Moz+ resource club with minimal effort, in our view.
We await drill results from this area before ascribing any exploration upside in our valuation.
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