Veteran, Very Conservative
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Great news for USRI shareholders, one hour into the trading day and no sells. I guess the rush to sell after the divy date is not happening after all so we wait and watch the price bounce between the bid and ask till news comes out in the next couple weeks.
The value was at the closing price like it is every month, I check, sorry you will have to give me another example.
Sorry, I just checked my end of March statement with Scottrade and it showed it's value at the closing price of March 31 as the value of USRI, do you have something else, I really want to learn.
nxxi_08 could you provide me a link where you found this information, I would certainly like to gain some insight and become as knowledgable as you.
Perhaps you did not see the closing price of .32
in an email I posted I believe he said that the filings and disclosure statements should be available by mid April.
Good luck trapper
I exchanged emails Karen the other day and she out of the blue said she could not make any comments on one of the mines which led me to believe something was going. Could be something big.
Yes Mr Smith has accurate information knowing what he bought, I'm also saying that he cannot make this information public till he can produce 100% totally accurate information. If he was start releasing information peace mill he would create more problems. Shareholders need to be able to review the complete set of filing even the delinquent filing.
Transparency of delinquent company such as this one takes time, when you become transparent you want to ensure that the transparency is accurate. My DD is not screaming this is going to the moon but it is saying give time to become transparent and then I can determine its potential of lunar orbit. Everyone has been screaming transparency since day one, management cannot cowtow to shareholders and release information till all information is accurate.
I've always said they are alternatives, diluting a stock to multiple billions of shares in the pinkies typically lead to no bid, I can site many pinkies that have accomplished this small feat. No bid typically means you can't sell your stock for any price so yes I prefer R/S. By the way, R/S stock affects both issued and outstanding shares and it does change the financial position of a company. You and I will never agree on this and I do not see the need to continue this debate with you.
Yes they are and once again that is the nature of pinkies, it just so happens that this company was ran poorly previous to Mr. Smith arrival thus the need for R/S.
They are alternatives, a company can either R/S share to increase share value or they can increase the A/S and dilute which dilutes share value.
That is the nature of Pennystocks, they dilute, they R/S and do everything that makes people crazy. I say to those that can't bear the risk to invest their money in the big boards.
Whats wrong with that, I'm not posting Bankruptsy records from 10 years ago. It's relavant to the topic of posting.
My origianal post which you responded to simply stated that I preferred the R/S to the A/S increase which typically leads a company to a no bid. I prefer a R/S because it can increase a SP value where constantly increasing the A/S just leads to diminished values.
yes and I posted an email response from Mr Smith declaring where those share were distributed and the restricted nature of them.
Not realy, diluting shares is diluting having shares available is not diluting.
At times a corporation will declare a stock split. The best way to explain what happens is through an example.
Assume XYZ Corporation has 1,000,000 shares of 2 par common stock outstanding. Further assume, that at the time the stock splits the price of the stock is 100 per share and that the company is splitting its stock 2 for 1.
After the split, ABC Corporation will have 2,000,000 shares of stock outstanding, at a par value of 1 per share, and the stock price will be 50. Remember that par value has nothing to do with the market price of a stock.
How does this impact the individual investor?
Let's say a person owned 500 shares of XYZ Corporation's stock prior to the split. Before the split he had stock worth 50,000 (500 shares x 100 per share).
After the split he owns 1,000 shares of ABC Corporation stock at 50 per share. He still owns 50,000 worth of stock. Only now he has twice as many shares at half the price.
It's the same principle as making change.
Assume I have a 1000 bill and ask someone for two 500 bills. After this person makes change for me I have twice as many bills, but they still add up to 1000. The other person still has 1000, but he has half as many bills.
Whether it's stock or money or anything else, after the split, you're no better off!
Generally, the reason a company decides to split their stock is to make it more attractive for investors to purchase. The reasoning is that more people will want to buy the stock at 10 rather than 20. It's mostly psychological.
Further, as more people buy the stock at the lower price, the stock will rise in price. However, there is no guarantee that the stock will continue to rise in price after the stock split.
If there were, we would all profit handsomely by buying the stock on the day it splits and selling afterward at a higher price.
Unfortunately, just because the stock splits does not mean that it will rise in price after the split. Many times a stock declines in price after a split.
Another reason a company may want to declare a stock split is to make more shares available and broaden its stockholder base. Thus, the stock becomes more marketable and liquid!
Roll the dice, I did not invest more than I was willing to lose on this so called pig. If I break even great, if I make money thats even more great, and if I lose I at least played my hand. Do you go to casino's to gamble, when you lose do you blame the dealer or yourself?
The PPS is the value, higher PPS's attract bigger investors. Now as far as the value I believe you are referring to that will come in a cleaned up ticker and disclosure statement which is what everybody is screaming for. Patients, after all investing is not investing in a companies TODAY value it's investing in TOMORROW'S value.
One can increase the shares value and the other will obviously decrease the share value, seriously lowman I figured you knew this already. What needs to occur now is the company needs to follow thru with getting the filings current and the disclosure statement filed. Then I will make my decision on USRI, till then I see no reason to jump out of the lifeboat. oh yea, be sure to read my previous post explain the whys of R/S.
I preferred a R/S over increasing the A/S would have only lead to decreased value in the PPS and eventually a no bid scenario that other stock typically face. Now if Mr. Smith brings the filings current I believe the PPS will react accordingly. Now if he shows some revenue the PPS will react even more favorable to my needs. Basically I am happy with what is transpiring with USRI, I am sorry you and others are not.
You say Mr. Smith just needs to tell us but sc300 tells us he needs to do it with public filings. To make public filing you have to make sure your I's are dotted and your T's are crossed. So I suppose if I emailed Mr. Smith and asked him what he paid for Earth Metals and he replied that would make everybody happy.
Thats where you and I disagree, I'm not saying this one will shoot to the moon I am not that kind of poster. I do say given time Mr. Smith, your cousin vinny will get the necessary paperwork filed, you expect it to happen yesterday and I never expected that it would be accomplished in less than 2 months. I think Mr. Smith learned his lesson on speaking out of turn so I believe the filings will be completed mid April so I am waiting and I believe I will see my investment return me some dollars and I will even be even again.
I can't believe the falling PPS with no volume this morning, darn my investment might be worth nothing by the end of this day. What am I to do, I might have to join the posters calling Mr Smith a POS and a theif, what am I to do tell me please? Would one of you more knowledgeable posters tell me whats going on today cause I just can't believe this is happenning to my investment.
It's a rolling down hill like a snowball headin for hell. Thats a Merle Haggard tune I use post here back in the day.
You should see them in your account April 15th or shortly thereafter.
excellant post in my opinion.
Then I say wait till mid April and read the filings, it takes more than 60 minutes to get them done.
Mr. Smith is doing what he needs to do, why don't you email him and ask him. I venture to state that it is not your intention to find information just conjecture that includes very much current information or due diligence
It never ceases to amaze me what you find out when you ask the right person. You could have done the same by just emailing your questions like I did. Thanks for your continued support.
Robert - Good morning. The issued USRI common stock as listed below, excluding the public float, is subject to Rule 144. The restriction period is for one (1) year or as otherwise regulated by US Securities Laws. The shares subject to Rule 144 were issued as detailed below for the following reasons:
1.) Member-Owners of Scrap USA, key employees and Finder Service Fees in accordance with the Share Exchange Agreement entered into December 24, 2010;
2.) Advisory Fees in accordance with the engagement of HTP Partners, LLC (the Musser Group) dated February 3, 2011;
3.) Financing Fees in accordance with the transaction related to the $1 million Convertible Debenture and $11 million Stand-By-Letter-of-Credit with Legendary Investments, LLC on February 8, 2011;
4.) Settlement of certain debts related to Voyager Petroleum, Inc now known as USRI;
5.) Acquisition of scrap metal auto parts export business of Earth Metal Scrap USA, Inc in accordance with the Contribution Agreement dated March 24, 2011
The above information will be further detailed in the Company's Disclosure Statement which shall be released shortly. I trust this information answers your inquiry.
Regards,
USA RECYCLING INDUSTRIES, INC
Vincent J Smith
Chief Executive Officer
505 Penn Street
Third Floor Suite
Reading, Pennsylvania 19601
Telephone: (877)464-5865
Fax: (610)374-0286
www.usarecyclingindustriesinc.com
Mr. Smith,
How is the updating of financials and disclosure statement going, I have been anticipating an update by the end of this month, do you believe this is attainable?
Regards,
Robert J****e
Robert - We are presently reviewing incomplete draft financial reports at the present time for 2010 and prior years. I anticipate release of the Disclosure Statement mid-April. I trust this answers your inquiry.
Regards,
USA RECYCLING INDUSTRIES, INC
Vincent J Smith
Chief Executive Officer
505 Penn Street
Third Floor Suite
Reading, Pennsylvania 19601
Telephone: (877)464-5865
Fax: (610)374-0286
www.usarecyclingindustriesinc.com
Sent from my Verizon Wireless BlackBerry
My thoughts exactly, I believe there are some things going on in the background in regards to the Borden Lake claim that we have yet to be told. I look forward to the next couple months to see what happens here.
Probe Mines Announces Further Assay Results for its Borden Lake Project Near Chapleau, Ontario: Up to 136.8 Metres Averaging 1.2 g/t Au, Including 10.3 Metres of 6.1 g/t Au
6 hours 18 minutes ago - Marketwire via Comtex
MarketwireProbe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company") is pleased to announce that it has received further assay results from an ongoing drilling program on its Borden Lake gold project near Chapleau, Ontario. Results for diamond drill holes BL11-26 to BL11-28, and the remaining results for drill hole BL11-25, were received and successfully intersected gold mineralization underneath and to the southeast of the original discovery holes.
Gold mineralization intersected in the current holes is similar to that previously reported and is comprised of thick sections of disseminated sulphides hosted by predominantly Timiskaming-age sediments with subordinate gold-bearing granitic pegmatite and amphibolites. Significant widths of gold mineralization were returned from all holes, and include: a 108.9 metre interval averaging 1.1g/t Au in Hole BL10-27, a 136.8 metre interval grading 1.2 g/t Au in Hole BL11-28 and a 119 metre section grading 0.7 g/t Au in Hole BL11-26. The following table presents the highlights from the four holes. Reported drill widths approximate true widths in these sections:
----------------------------------------------------------------------- ----- section From To width Au DDH (m) (m) (m) (g/t) ---------------------------------------------------------------------------- BL11-25 700m NW 44 68 24 0.8 ---------------------------------------------------------------------------- 83.6 90 6.4 0.7 ---------------------------------------------------------------------------- 119 123 4 1.9 ---------------------------------------------------------------------------- 143.2 210 79.1 0.7 ---------------------------------------------------------------------------- including 180 210 30 0.9 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-26 Discovery 161 280 119 0.7 ---------------------------------------------------------------------------- including 199 247.7 48.7 1.1 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-27 100m SE 88.1 197 108.9 1.1 ---------------------------------------------------------------------------- including 91.8 103.5 11.7 3.7 ---------------------------------------------------------------------------- also including 169 183 14 1.6 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-28 100m SE 45.4 182.2 136.8 1.2 ---------------------------------------------------------------------------- including 74.6 142 67.4 1.8 ---------------------------------------------------------------------------- and including 76 86.3 10.3 6.1 ----------------------------------------------------------------------------
Hole BL11-26 was drilled to undercut the mineralization in Holes BL10-2, 3 and 4 (the discovery holes), as well as Holes BL11-09 and 10, and extended the mineralized zone to approximately 280 metres depth, while holes BL11-27 and 28 represent the first complete sections drilled to the southeast of the discovery holes. The latter holes were designed to test the zone at 150 and 200 metres depth. The remaining results for Hole BL11-25, drilled on the section 700 metres northwest of the discovery, were also received and extended the mineralized interval previously announced in a press release dated March 15, 2011 an additional 13.3 metres in width.
The second phase program has now drilled approximately 6,400 metres in 28 holes (BL10-09 to BL11-36) and to date has tested approximately 1.2 kilometres of strike length along the zone, which remains open in all directions. Drilling will continue testing the strike and depth extents of the gold zone until the full limits of the mineralized horizon have been tested.
Updated plan and section maps are available on the Company's website at www.probemines.com.
Probe has instituted a strict quality assurance and quality control ("QA-QC") program for the Borden Lake drill core sampling, with each batch of samples including two certified reference materials (standards), one blank sample and one core duplicate sample in predetermined batches comprising 40 samples. Quality control guidelines have been set out by Independent Qualified Person ("IQP") Ms. Tracy Armstrong, P.Geo., of P & E Mining Consultants Inc.
About Probe Mines:
Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $2.5MM in treasury and a portfolio of highly prospective mineral properties. In addition to its Borden Lake Gold project the Company owns 875 claims covering approximately 14,000 hectares in the McFauld's Lake area, including a 100% interest in the Black Creek chromite deposit, and is currently exploring its Cree Lake project in Ontario's Swayze Belt, under option from Mantis Mineral Corp. Probe also maintains a 45% interest in a joint venture property with Lake Shore Gold Corp, which surrounds Lake Shore's Timmins Mine project and a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, which began production in 2008. The Company has only 37,763,415 shares issued and outstanding, which 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.
Forward-Looking Statements
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Shares Issued: 37,763,415
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Probe Mines Limited David Palmer President (416) 777-6703 Probe Mines Limited Karen Willoughby Investor Relations (866) 936-6766
SOURCE: Probe Mines Limited
Probe Mines Announces Further Assay Results for its Borden Lake Project Near Chapleau, Ontario: Up to 136.8 Metres Averaging 1.2 g/t Au, Including 10.3 Metres of 6.1 g/t Au
6 hours 18 minutes ago - Marketwire via Comtex
MarketwireProbe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company") is pleased to announce that it has received further assay results from an ongoing drilling program on its Borden Lake gold project near Chapleau, Ontario. Results for diamond drill holes BL11-26 to BL11-28, and the remaining results for drill hole BL11-25, were received and successfully intersected gold mineralization underneath and to the southeast of the original discovery holes.
Gold mineralization intersected in the current holes is similar to that previously reported and is comprised of thick sections of disseminated sulphides hosted by predominantly Timiskaming-age sediments with subordinate gold-bearing granitic pegmatite and amphibolites. Significant widths of gold mineralization were returned from all holes, and include: a 108.9 metre interval averaging 1.1g/t Au in Hole BL10-27, a 136.8 metre interval grading 1.2 g/t Au in Hole BL11-28 and a 119 metre section grading 0.7 g/t Au in Hole BL11-26. The following table presents the highlights from the four holes. Reported drill widths approximate true widths in these sections:
----------------------------------------------------------------------- ----- section From To width Au DDH (m) (m) (m) (g/t) ---------------------------------------------------------------------------- BL11-25 700m NW 44 68 24 0.8 ---------------------------------------------------------------------------- 83.6 90 6.4 0.7 ---------------------------------------------------------------------------- 119 123 4 1.9 ---------------------------------------------------------------------------- 143.2 210 79.1 0.7 ---------------------------------------------------------------------------- including 180 210 30 0.9 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-26 Discovery 161 280 119 0.7 ---------------------------------------------------------------------------- including 199 247.7 48.7 1.1 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-27 100m SE 88.1 197 108.9 1.1 ---------------------------------------------------------------------------- including 91.8 103.5 11.7 3.7 ---------------------------------------------------------------------------- also including 169 183 14 1.6 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-28 100m SE 45.4 182.2 136.8 1.2 ---------------------------------------------------------------------------- including 74.6 142 67.4 1.8 ---------------------------------------------------------------------------- and including 76 86.3 10.3 6.1 ----------------------------------------------------------------------------
Hole BL11-26 was drilled to undercut the mineralization in Holes BL10-2, 3 and 4 (the discovery holes), as well as Holes BL11-09 and 10, and extended the mineralized zone to approximately 280 metres depth, while holes BL11-27 and 28 represent the first complete sections drilled to the southeast of the discovery holes. The latter holes were designed to test the zone at 150 and 200 metres depth. The remaining results for Hole BL11-25, drilled on the section 700 metres northwest of the discovery, were also received and extended the mineralized interval previously announced in a press release dated March 15, 2011 an additional 13.3 metres in width.
The second phase program has now drilled approximately 6,400 metres in 28 holes (BL10-09 to BL11-36) and to date has tested approximately 1.2 kilometres of strike length along the zone, which remains open in all directions. Drilling will continue testing the strike and depth extents of the gold zone until the full limits of the mineralized horizon have been tested.
Updated plan and section maps are available on the Company's website at www.probemines.com.
Probe has instituted a strict quality assurance and quality control ("QA-QC") program for the Borden Lake drill core sampling, with each batch of samples including two certified reference materials (standards), one blank sample and one core duplicate sample in predetermined batches comprising 40 samples. Quality control guidelines have been set out by Independent Qualified Person ("IQP") Ms. Tracy Armstrong, P.Geo., of P & E Mining Consultants Inc.
About Probe Mines:
Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $2.5MM in treasury and a portfolio of highly prospective mineral properties. In addition to its Borden Lake Gold project the Company owns 875 claims covering approximately 14,000 hectares in the McFauld's Lake area, including a 100% interest in the Black Creek chromite deposit, and is currently exploring its Cree Lake project in Ontario's Swayze Belt, under option from Mantis Mineral Corp. Probe also maintains a 45% interest in a joint venture property with Lake Shore Gold Corp, which surrounds Lake Shore's Timmins Mine project and a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, which began production in 2008. The Company has only 37,763,415 shares issued and outstanding, which 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.
Forward-Looking Statements
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Shares Issued: 37,763,415
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Probe Mines Limited David Palmer President (416) 777-6703 Probe Mines Limited Karen Willoughby Investor Relations (866) 936-6766
SOURCE: Probe Mines Limited
Probe Mines Announces Further Assay Results for its Borden Lake Project Near Chapleau, Ontario: Up to 136.8 Metres Averaging 1.2 g/t Au, Including 10.3 Metres of 6.1 g/t Au
6 hours 18 minutes ago - Marketwire via Comtex
MarketwireProbe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company") is pleased to announce that it has received further assay results from an ongoing drilling program on its Borden Lake gold project near Chapleau, Ontario. Results for diamond drill holes BL11-26 to BL11-28, and the remaining results for drill hole BL11-25, were received and successfully intersected gold mineralization underneath and to the southeast of the original discovery holes.
Gold mineralization intersected in the current holes is similar to that previously reported and is comprised of thick sections of disseminated sulphides hosted by predominantly Timiskaming-age sediments with subordinate gold-bearing granitic pegmatite and amphibolites. Significant widths of gold mineralization were returned from all holes, and include: a 108.9 metre interval averaging 1.1g/t Au in Hole BL10-27, a 136.8 metre interval grading 1.2 g/t Au in Hole BL11-28 and a 119 metre section grading 0.7 g/t Au in Hole BL11-26. The following table presents the highlights from the four holes. Reported drill widths approximate true widths in these sections:
----------------------------------------------------------------------- ----- section From To width Au DDH (m) (m) (m) (g/t) ---------------------------------------------------------------------------- BL11-25 700m NW 44 68 24 0.8 ---------------------------------------------------------------------------- 83.6 90 6.4 0.7 ---------------------------------------------------------------------------- 119 123 4 1.9 ---------------------------------------------------------------------------- 143.2 210 79.1 0.7 ---------------------------------------------------------------------------- including 180 210 30 0.9 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-26 Discovery 161 280 119 0.7 ---------------------------------------------------------------------------- including 199 247.7 48.7 1.1 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-27 100m SE 88.1 197 108.9 1.1 ---------------------------------------------------------------------------- including 91.8 103.5 11.7 3.7 ---------------------------------------------------------------------------- also including 169 183 14 1.6 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-28 100m SE 45.4 182.2 136.8 1.2 ---------------------------------------------------------------------------- including 74.6 142 67.4 1.8 ---------------------------------------------------------------------------- and including 76 86.3 10.3 6.1 ----------------------------------------------------------------------------
Hole BL11-26 was drilled to undercut the mineralization in Holes BL10-2, 3 and 4 (the discovery holes), as well as Holes BL11-09 and 10, and extended the mineralized zone to approximately 280 metres depth, while holes BL11-27 and 28 represent the first complete sections drilled to the southeast of the discovery holes. The latter holes were designed to test the zone at 150 and 200 metres depth. The remaining results for Hole BL11-25, drilled on the section 700 metres northwest of the discovery, were also received and extended the mineralized interval previously announced in a press release dated March 15, 2011 an additional 13.3 metres in width.
The second phase program has now drilled approximately 6,400 metres in 28 holes (BL10-09 to BL11-36) and to date has tested approximately 1.2 kilometres of strike length along the zone, which remains open in all directions. Drilling will continue testing the strike and depth extents of the gold zone until the full limits of the mineralized horizon have been tested.
Updated plan and section maps are available on the Company's website at www.probemines.com.
Probe has instituted a strict quality assurance and quality control ("QA-QC") program for the Borden Lake drill core sampling, with each batch of samples including two certified reference materials (standards), one blank sample and one core duplicate sample in predetermined batches comprising 40 samples. Quality control guidelines have been set out by Independent Qualified Person ("IQP") Ms. Tracy Armstrong, P.Geo., of P & E Mining Consultants Inc.
About Probe Mines:
Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $2.5MM in treasury and a portfolio of highly prospective mineral properties. In addition to its Borden Lake Gold project the Company owns 875 claims covering approximately 14,000 hectares in the McFauld's Lake area, including a 100% interest in the Black Creek chromite deposit, and is currently exploring its Cree Lake project in Ontario's Swayze Belt, under option from Mantis Mineral Corp. Probe also maintains a 45% interest in a joint venture property with Lake Shore Gold Corp, which surrounds Lake Shore's Timmins Mine project and a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, which began production in 2008. The Company has only 37,763,415 shares issued and outstanding, which 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.
Forward-Looking Statements
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Shares Issued: 37,763,415
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Probe Mines Limited David Palmer President (416) 777-6703 Probe Mines Limited Karen Willoughby Investor Relations (866) 936-6766
SOURCE: Probe Mines Limited
Probe Mines Announces Further Assay Results for its Borden Lake Project Near Chapleau, Ontario: Up to 136.8 Metres Averaging 1.2 g/t Au, Including 10.3 Metres of 6.1 g/t Au
6 hours 18 minutes ago - Marketwire via Comtex
MarketwireProbe Mines Limited (TSX VENTURE: PRB) ("Probe" or the "Company") is pleased to announce that it has received further assay results from an ongoing drilling program on its Borden Lake gold project near Chapleau, Ontario. Results for diamond drill holes BL11-26 to BL11-28, and the remaining results for drill hole BL11-25, were received and successfully intersected gold mineralization underneath and to the southeast of the original discovery holes.
Gold mineralization intersected in the current holes is similar to that previously reported and is comprised of thick sections of disseminated sulphides hosted by predominantly Timiskaming-age sediments with subordinate gold-bearing granitic pegmatite and amphibolites. Significant widths of gold mineralization were returned from all holes, and include: a 108.9 metre interval averaging 1.1g/t Au in Hole BL10-27, a 136.8 metre interval grading 1.2 g/t Au in Hole BL11-28 and a 119 metre section grading 0.7 g/t Au in Hole BL11-26. The following table presents the highlights from the four holes. Reported drill widths approximate true widths in these sections:
----------------------------------------------------------------------- ----- section From To width Au DDH (m) (m) (m) (g/t) ---------------------------------------------------------------------------- BL11-25 700m NW 44 68 24 0.8 ---------------------------------------------------------------------------- 83.6 90 6.4 0.7 ---------------------------------------------------------------------------- 119 123 4 1.9 ---------------------------------------------------------------------------- 143.2 210 79.1 0.7 ---------------------------------------------------------------------------- including 180 210 30 0.9 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-26 Discovery 161 280 119 0.7 ---------------------------------------------------------------------------- including 199 247.7 48.7 1.1 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-27 100m SE 88.1 197 108.9 1.1 ---------------------------------------------------------------------------- including 91.8 103.5 11.7 3.7 ---------------------------------------------------------------------------- also including 169 183 14 1.6 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- BL11-28 100m SE 45.4 182.2 136.8 1.2 ---------------------------------------------------------------------------- including 74.6 142 67.4 1.8 ---------------------------------------------------------------------------- and including 76 86.3 10.3 6.1 ----------------------------------------------------------------------------
Hole BL11-26 was drilled to undercut the mineralization in Holes BL10-2, 3 and 4 (the discovery holes), as well as Holes BL11-09 and 10, and extended the mineralized zone to approximately 280 metres depth, while holes BL11-27 and 28 represent the first complete sections drilled to the southeast of the discovery holes. The latter holes were designed to test the zone at 150 and 200 metres depth. The remaining results for Hole BL11-25, drilled on the section 700 metres northwest of the discovery, were also received and extended the mineralized interval previously announced in a press release dated March 15, 2011 an additional 13.3 metres in width.
The second phase program has now drilled approximately 6,400 metres in 28 holes (BL10-09 to BL11-36) and to date has tested approximately 1.2 kilometres of strike length along the zone, which remains open in all directions. Drilling will continue testing the strike and depth extents of the gold zone until the full limits of the mineralized horizon have been tested.
Updated plan and section maps are available on the Company's website at www.probemines.com.
Probe has instituted a strict quality assurance and quality control ("QA-QC") program for the Borden Lake drill core sampling, with each batch of samples including two certified reference materials (standards), one blank sample and one core duplicate sample in predetermined batches comprising 40 samples. Quality control guidelines have been set out by Independent Qualified Person ("IQP") Ms. Tracy Armstrong, P.Geo., of P & E Mining Consultants Inc.
About Probe Mines:
Probe Mines Limited is a well financed, Canadian base and precious metal exploration company with approximately $2.5MM in treasury and a portfolio of highly prospective mineral properties. In addition to its Borden Lake Gold project the Company owns 875 claims covering approximately 14,000 hectares in the McFauld's Lake area, including a 100% interest in the Black Creek chromite deposit, and is currently exploring its Cree Lake project in Ontario's Swayze Belt, under option from Mantis Mineral Corp. Probe also maintains a 45% interest in a joint venture property with Lake Shore Gold Corp, which surrounds Lake Shore's Timmins Mine project and a 5% net smelter royalty on a portion of Agnico Eagle's Goldex Mine near Val d'Or, Quebec, which began production in 2008. The Company has only 37,763,415 shares issued and outstanding, which 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.
Forward-Looking Statements
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Shares Issued: 37,763,415
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Probe Mines Limited David Palmer President (416) 777-6703 Probe Mines Limited Karen Willoughby Investor Relations (866) 936-6766
SOURCE: Probe Mines Limited
If I had money in SHOM I would put my sell order in before the rush on Monday. Thats just my opinion, it looks to be trading well over trend lines. Good luck to you.