"That's part of the reason that Agnico-Eagle Mines has come into the story. Agnico is now a strategic shareholder of this company. Agnico's primary interest is in the belt because this is a new discovery in a part of Ontario that historically hadn't been well explored for gold. Agnico knows how to mine 5–6 g/t gold deposits in Ontario underground because it has mined them for the last 40 years. If Probe can't develop a large, open-pit milling operation at 1–1.25 g/t, there is an opportunity here for Agnico. There's optionality that it could also mine a higher-grade underground deposit. That kind of expertise is pretty well established within Agnico-Eagle. . .Probe has about $36M today, so it is well funded. Its 12-month budget for 2014 is in the range of $12–15M. It still has at least two years of cash. There are not too many junior companies that can say that."
The really exciting thing is that late last year, drilling to extend the deposit toward the southeast returned the type of hole I can't say I've seen in some time—51m of 10.3 g/t. And, that was NOT influenced by, say, a 1m section of 800 g/t—it wasn't a case of grade smearing. Probe more recently did some follow-up drilling and the first two holes—and mind you this is a 500m stepout from that initial hole—boom! Drill results came back just shy of 13m at 7.4 g/t and another at 10.2m of 12.5 g/t. Those are fantastic results! . .the deposit has 4–6 Moz, so you know it's a big plumbing system to be able to pile up that much gold. The bulk-tonnage target and high-grade core have shown good continuity. We're waiting on results from additional ice-based holes sunk this winter further southeast and they could be the game changers. It looks as if Probe has tapped into a high-grade feeder system toward the southeast. That changes the complexion of the story from bulk-tonnage and low-grade to high-grade, and, importantly, so far over some nice wide intervals. All that, and the company still has a large little-explored land package. Probe is worth a look. With $30M on the balance sheet, the company should at least be funded through the end of this year. No jeopardy of running dry on funds."