Toronto, October 3, 2006 -- The Directors of Probe Mines Limited
(TSX-V: PRB) are pleased to announce that diamond drilling will
commence shortly on the Greenlaw base and precious metal project near
Chapleau, Ontario in the Shunsby Volcanic Belt. Norex Drilling of
Porcupine, Ontario has been awarded the contract, and will begin
mobilizing immediately after Thanksgiving. The Greenlaw property is
host to at least two known sulphide occurrences, with drill
intersections of up to 0.27% Cu, 5.73% Zn, 2.17% Pb and 0.32 oz/t Ag
over 4.8m. A second sulphide zone, exposed on surface, occurs to the
north of the drill discovery and has never been tested. The drilling
program will focus on these two mineralized zones as well as a number
of strong geophysical targets identified in recently completed surveys
by Probe Mines. The conductors range from 200 to 800 metres in length,
and occur along several volcanic horizons that host the known base
metal mineralization. The combination of strong geophysics and known
base metal mineralization suggest a high potential for the property to
host significant base metal deposits.
Given the positive results received from Probe's recently completed
diamond drill program on the Norway Lake Project in the Atikokan area
of Northwestern Ontario, a second phase of drilling is now being
planned. Results indicate that zinc-rich sulphide mineralization, with
significant gold and silver values, is thickening to the west and at
depth, along strike, and indicates a strong potential for economic
mineralization. The second phase program will focus on the western
strike extension of the horizon identified in Phase I, and will also be
used to test other parallel induced polaraization (IP) targets in the
area.
Probe Mines is very encouraged by the recent positive results from both
the Greenlaw and Norway Lake programs, and will continue to pursue an
aggressive campaign of exploration on both properties. Dr. David
Palmer, President of Probe, states; "Probe's board of directors, which
has a solid background in exploration, development, and production of
VMS-type polymetallic ore deposits, firmly believes that the Norway
Lake and Greenlaw properties represent early stage projects with
exceptional potential to develop into substantial economic deposits".
About the Company:
Probe Mines Limited is a Canadian base and precious metal exploration
company with a portfolio of highly prospective mineral properties.
Probe has only recently acquired the Greenlaw and Norway Lake base
metal projects, which both host numerous base metal occurrences and
untested conductors. Probe also owns the Tamarack project in the James
Bay Lowlands, Ontario, site of a significant copper VMS discovery, and
a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine
near Val d'Or, slated for production in 2008. In addition, Probe has
signed a joint venture agreement on its Bristol Township project
located in the new Timmins West gold camp and adjacent to the Timmins
West deposit of Lake Shore Gold Corp. Probe's shares trade on the TSX
Venture Exchange under the symbol PRB.
David Palmer, Ph.D., P.Geo., is the qualified person for all technical
information in this release. To find out more about Probe Mines
Limited, visit our website at www.probemines.com, or contact:
David Palmer, Ph.D.
President
Tel: (416) 777-6703
Harry J. Hodge, P.Eng., Director
Tel: (416) 363-4376 |
