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Canada
Novador (Val-d'Or East) Project

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 Location:
24 Km E from Val-d’Or, Quebec, Canada
  Project Contacts:
56 Temperance Street Suite 1000
Toronto
Ontario, Canada
M5H 3V5
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News
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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit & Underground
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Drift & Fill
  • Longhole stoping
  • Cemented backfill
  • Dry waste backfill
Mine Life12.5 years (as of Jan 1, 2021)
The Novador Project (formerly Val-d’Or East) project is a district-scale land package comprising 436 square kilometers and represents one of the largest land holdings in the Val-d’Or mining camp. The property is host to three past producing mines (Beliveau Mine, Monique Mine and Bussiere Mine) and falls along four regional mine trends, including 14 kilometres of strike length along the prolific Cadillac Break.
Latest NewsProbe Gold Triples Indicated Gold Resource to 2,038,900 Ounces and reports 357,200 Inferred at Monique, part of Novador (former Val d’Or East)     January 17, 2023

Owners

Source: p. 29
CompanyInterestOwnership
Probe Gold Inc. 100 % Indirect
The property consists of three distinct claim blocks. The Pascalis-Courvan-Senore claim block is 100% owned by Probe Metals. The Monique claim block is contiguous to the Pascalis-Courvan-Senore block. The Lapaska claim block, which is non contiguous with the PascalisCourvan-Senore block, is 100% owned by Probe Metals.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Mesothermal
  • Orogenic

Summary:

The Val-d'Or mining camp is well known for its lode gold deposits and copper, zinc, silver, and gold volcanogenic (VMS) deposits. Gold mineralization from the Val-d'Or mining camp has been classified as greenstone-hosted quartz-carbonate vein deposits or mesothermal or late-orogenic lode gold deposits associated with shear zones or extensional fractures.

Most of the gold resources on the Val-d’Or East Project have been delineated in three areas: Pascalis gold trend deposits, Courvan gold trend deposits, and Monique gold trend deposits. These generally consist of a complex system of veins composed of quartz, carbonate, and tourmaline with disseminated and/or blebby pyrite. The auriferous zones are commonly associated with shear zones and extensional fractures. Mineralization is concentrated in veins and/or in adjacent lithologies that are strongly altered due to hydrothermal fluid circulation.

Pascalis Gold Trend
The Pascalis gold trend hosts the New Beliveau, North Zone and Highway deposits. The New Beliveau and North Zone deposits are centered on a series of north-northwest trending sub-vertical intermediate dykes, forming a swarm identified over 3 km long, 1 km wide and 1 km deep.

The New Beliveau deposit, which encompasses the past producer L.C. Beliveau mine, is hosted within a sub-vertical microdiorite dyke oriented at N345° and perpendicular to the trend of volcanic formations. It is located about 2 km east of the Bourlamaque bathol ........

Mining Methods

  • Truck & Shovel / Loader
  • Drift & Fill
  • Longhole stoping
  • Cemented backfill
  • Dry waste backfill

Summary:

The scoping-level mine planning work that has been completed to date demonstrates viable economics for the extraction of ~45 million tonnes of mill feed at an average mill feed gold grade of 1.88 g/t. The economic open pit mining shells for the Monique, Pascalis and Courvan gold trends capture a good portion of the resource, and underground mining methods capture additional economic material below the open pit mining limits.

Open Pit
Specific to a PEA-level assessment, the overall angle is considered the same as the inter-ramp angle, as highwall ramps and geotechnical berms (for the consideration of interramp angle) are added in future. Pit slope angles are described for each deposit.

Creek Deposit – The open pit slopes planned for the Creek deposit can support slopes of up to 53° in wall orientations facing 310-350°, and slopes of up to 59° for all other wall orientations.

Bussiere Deposit – Open pits for the Bussiere deposit can support slopes of up to 53° in wall orientations facing 310-350°, and slopes of up to 59° for all other wall orientations.

Southwest Deposit – Open pits of the Southwest deposit can support slopes of up to 59° for all wall orientations.

Southeast Deposit – Open pits of the Southeast deposit can support slopes of up to 53° for wall orientations facing 110- 150°, up to 49° for wall orientations facing 150-190°, and 59° for all other wall orientations.

Highway Deposit – Open pits o ........

Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Payable metal koz 2,583
Gold Metal in doré koz 2072,584

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
* According to 2021 study.
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Reserves at June 1, 2021:
The pit-constrained updated Mineral Resources are reported at a cut-off grade of 0.42g/t Au for the Monique deposit and 0.40g/t for the other deposits.
The underground mineral resources were based on two main mining methods, resulting in cut-off grades of 1.65 and 2.05 g/t Au.

CategoryOreTypeTonnage CommodityGradeContained Metal
Measured In-Situ (OP) 5,111,000 t Gold 2.12 g/t 347,600 oz
Measured In-Situ (UG) 660,000 t Gold 2.43 g/t 51,500 oz
Measured Total 5,771,000 t Gold 2.15 g/t 399,100 oz
Indicated In-Situ (OP) 21,404,000 t Gold 1.56 g/t 1,072,700 oz
Indicated In-Situ (UG) 2,602,000 t Gold 3.08 g/t 257,900 oz
Indicated Total 24,006,000 t Gold 1.72 g/t 1,330,600 oz
Measured & Indicated In-Situ (OP) 26,515,000 t Gold 1.67 g/t 1,420,300 oz
Measured & Indicated In-Situ (UG) 3,262,000 t Gold 2.95 g/t 309,400 oz
Measured & Indicated Total 29,777,000 t Gold 1.81 g/t 1,729,700 oz
Inferred In-Situ (OP) 20,702,000 t Gold 1.58 g/t 1,053,800 oz
Inferred In-Situ (UG) 8,230,000 t Gold 3.43 g/t 906,500 oz
Inferred Total 28,932,000 t Gold 2.11 g/t 1,960,400 oz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required&nbs
Total cash costs Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation. Cash costs: 1,029 CAD/oz
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Operating Costs:

Units2021
Combined mining costs ($/t mined) CAD 4.49 *
Combined mining costs ($/t milled) CAD  ......  Subscription required
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t mined) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t mined) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2021 study.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP/UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 600
G&A costs $M CAD 123
Total OpEx $M CAD  ......  Subscription required
Mining Taxes $M CAD  ......  Subscription required
Income Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
EBITDA (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 5% $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.

Proposed Heavy Mobile Equipment as of September 7, 2021:
HME TypeModelSizeQuantityLeased or
Contractor
Drill (long hole) ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 7, 2021
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

News:

NewsDate
Probe Gold Triples Indicated Gold Resource to 2,038,900 Ounces and reports 357,200 Inferred at Monique, part of Novador (former Val d’Or East) January 17, 2023
Probe Metals Intersects 4.9 g/t Au (cut) over 22.9 metres in Expansion Drilling at Monique, Val-d’Or East Project December 13, 2022

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