Provenance Gold mobilizes second drill rig to Eldorado project, Oregon
Provenance Gold Corp. [CSDE: PAU; OTCQB: PVGDF] has moved a diamond core drill rig to the Eldorado project in eastern Oregon. The core from the newly permitted drill sites will provide valuable insights to understand key geological controls of the gold system in these areas.
Drilling will be concentrated in the Herman area, 730 metres south of the Tyee area, and Zone 4, 550 metres west of Zone 1 in the Tyee area, which has been the focus of most of Provenance’s confirmation drilling to date. These areas, although major step-outs, are still within a small portion of the Eldorado West claim package.
The company has engaged Titan Drilling Ltd. to drill a minimum of 1,000 metres in locations selected within the newly permitted areas of the property. Titan Drilling has an excellent reputation, helping to ensure an efficient and on-budget drill program. The RC (reverse circulation) drilling program will continue simultaneously on the property.
Herman area target: The first core hole in this new program is scheduled to test the Herman area following up on Provenance’s initial RC drill holes in this location (ED-27, ED-28 and ED-29; results pending). The data from diamond drilling will provide a much clearer geological understanding of the gold system and of this significant new exploration target that Provenance is currently drilling.
The company expects to release further results from its continuing RC drill program imminently. These results will include the first assays from the company’s newly permitted Herman area, a 730-metre step-out from the company’s recently announced hole ED-26. In addition, select bulk samples are currently undergoing gravity and float metallurgical testing and results will be reported when available.
Rauno Perttu, CEO, stated: “Excellent historical and 2023 Provenance metallurgical tests results support Provenance’s belief that the deposit is amenable to conventional low-cost open-pit mining techniques. I am excited to continue to open the mineralized footprint up at Eldorado not only within the Tyee area as well as to depth but also through expansive stepouts that we are currently well into drilling. The scope and potential of this project continue to impress.”
The company also reported that AB Holdings LLC has been engaged to provide investor communications and market visibility and outreach services. AB Holdings owns and operates The Vanderbilt Report, an on-line financial news and information platform with a robust advertising model designed to reach active investors.
Under the terms of the agreement, the company will pay an upfront fee of US$18,000 for one month of services that can be extended at any time.
The company is at arm’s length to AB Holdings. The company confirms that no securities will be issued as part of this engagement and, to its knowledge, AB Holdings does not currently own any equity or convertible instruments of the company.
Provenance Gold currently holds interests in Nevada, and eastern Oregon, United States.
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