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Provenance Gold Corp. is a precious metals exploration company focused on gold and silver mineralization in North America. With interests in Nevada and eastern Oregon, the company recently completed a maiden 2023 reverse circulation drill program at the Eldorado Project, yielding promising results and confirming the presence of a porphyry gold system. The program aimed to verify historic drilling results, extend the known mineralized footprint, and explore deeper gold zones. Provenance's CEO, Rauno Perttu, emphasized the exceptional outcomes of the initial program and expressed confidence in the project's continual expansion through further exploration.
Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) announced the mobilization of its first core drilling program at the Eldorado property, starting on July 9, 2024. The 5-hole, 1000-meter minimum program aims to drill deeper into the system and will take about five weeks. This follows the 2023 reverse-circulation drilling that confirmed historic results and identified a new high-grade gold zone.
The 2023 highlights include notable drill results such as 140.208 meters of 1.15 g/t gold and 114.3 meters of 3.085 g/t gold. Provenance plans a more extensive RC drilling program later in 2024. The company also announced an investor relations agreement with Paradox Public Relations and a private placement aiming to raise funds through the issuance of up to 15 million units priced at $0.08 per unit.
Provenance Gold Corp. announced a private placement to fund core drilling at the Eldorado gold property in Oregon. The property's extensive gold system has shown promising results, leading to an increase in size and the identification of a thick zone of higher-grade gold mineralization. The company plans to commence a core drilling program within sixty days to further explore the system's potential. Additionally, a non-brokered private placement of up to 15,000,000 units is underway, with each unit priced at $0.08. The closing of the placement is expected within two weeks.
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