Provenance Gold Engages Drilling Contractor for March Drill Mobilization and Commences Drone-Based Airborne Magnetic Survey at its Eldorado Property
Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) has announced two significant developments for its Eldorado property in eastern Oregon. First, the company has engaged Boart Longyear as its drilling contractor, with reverse circulation drilling scheduled to begin in early March 2025, weather permitting.
Additionally, a drone-based airborne magnetic survey will commence in February, conducted by Zonge International Inc. This survey aims to refine understanding of mineralized structures and identify new exploration targets using 3D voxel modeling. The project currently encompasses 241 historic drill holes and 14 drill holes by Provenance, with gold mineralization primarily associated with altered diorite intrusive.
The company plans a staged 10,000+ meter RC and core drilling program focused on expanding known mineralized areas and exploring new territories. Results from holes EC-02 and EC-03 are pending and will be announced after review.
Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) ha annunciato due sviluppi significativi per la sua proprietà Eldorado nell'Oregon orientale. Innanzitutto, l'azienda ha ingaggiato Boart Longyear come contratto per la perforazione, con la perforazione a circolazione inversa programmata per iniziare all'inizio di marzo 2025, condizioni meteorologiche permettendo.
Inoltre, un rilievo magnetico aereo con drone inizierà a febbraio, condotto da Zonge International Inc. Questo rilievo mira a migliorare la comprensione delle strutture mineralizzate e identificare nuovi obiettivi di esplorazione utilizzando la modellazione voxel 3D. Il progetto attualmente comprende 241 fori storici e 14 fori perforati da Provenance, con mineralizzazione aurifera principalmente associata a un'intrusione di diorite alterata.
L'azienda prevede un programma di perforazione RC e core da 10.000+ metri in fasi, focalizzato sull'espansione delle aree mineralizzate conosciute e sull'esplorazione di nuovi territori. I risultati dei fori EC-02 e EC-03 sono in attesa e saranno annunciati dopo la revisione.
Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) ha anunciado dos desarrollos significativos para su propiedad Eldorado en el este de Oregón. Primero, la compañía ha contratado a Boart Longyear como su contratista de perforación, con la perforación de circulación inversa programada para comenzar a principios de marzo de 2025, sujeto a las condiciones meteorológicas.
Adicionalmente, un estudio magnético aéreo basado en drones comenzará en febrero, llevado a cabo por Zonge International Inc. Este estudio tiene como objetivo refinar la comprensión de las estructuras mineralizadas e identificar nuevos objetivos de exploración utilizando modelado voxel 3D. El proyecto cubre actualmente 241 perforaciones históricas y 14 perforaciones por Provenance, con mineralización de oro asociada principalmente con una intrusión de diorita alterada.
La compañía planea un programa de perforación de más de 10,000 metros de RC y núcleo en etapas, centrado en expandir las áreas mineralizadas conocidas y explorar nuevos territorios. Los resultados de los pozos EC-02 y EC-03 están pendientes y se anunciarán después de su revisión.
프로비넌스 골드 코프 (CSE: PAU) (OTCQB: PVGDF)는 오리건 동부의 엘도라도 소유지에 대한 두 가지 중요한 개발 소식을 발표했습니다. 첫째, 회사는 보아트 롱이어를 채굴 계약자로 고용했으며, 역 순환 굴착이 2025년 3월 초에 시작될 예정이며, 이는 날씨에 따라 변동할 수 있습니다.
또한, 드론 기반 공중 자기 조사가 2월에 시작될 예정이며, 이는 종합적으로 Zonge International Inc.가 수행합니다. 이 조사는 광물화된 구조를 이해하고 3D 복셀 모델링을 사용하여 새로운 탐사 목표를 식별하는 데 중점을 두고 있습니다. 현재 프로젝트에는 241개의 역사적인 굴착 홀과 프로비넌스에서 시추한 14개의 굴착 홀이 포함되어 있으며, 금 함유는 주로 변성된 디오라이트 침입과 관련이 있습니다.
회사는 알려진 광물화 지역을 확대하고 새로운 지역을 탐사하는 데 중점을 둔 10,000미터 이상의 RC 및 코어 굴착 프로그램을 단계적으로 계획하고 있습니다. EC-02와 EC-03 구멍의 결과는 검토 후 발표될 예정입니다.
Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) a annoncé deux développements significatifs pour sa propriété Eldorado dans l'est de l'Oregon. Tout d'abord, l'entreprise a engagé Boart Longyear en tant qu'entrepreneur en forage, avec le forage en circulation inversée prévu pour commencer au début de mars 2025, sous réserve des conditions météorologiques.
De plus, une étude magnétique aérienne par drone débutera en février, réalisée par Zonge International Inc. Cette étude vise à affiner la compréhension des structures minéralisées et à identifier de nouveaux objectifs d'exploration à l'aide de la modélisation voxel 3D. Le projet comprend actuellement 241 trous de forage historiques et 14 trous de forage réalisés par Provenance, avec une minéralisation en or principalement associée à une intrusion de diorite altérée.
L'entreprise prévoit un programme de forage de plus de 10 000 mètres en RC et en carottage, axé sur l'expansion des zones minéralisées connues et l'exploration de nouveaux territoires. Les résultats des trous EC-02 et EC-03 sont en attente et seront annoncés après examen.
Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) hat zwei bedeutende Entwicklungen für sein Eldorado-Projekt im östlichen Oregon angekündigt. Zunächst hat das Unternehmen Boart Longyear als Bohrauftragnehmer beauftragt, wobei die Reverse-Circulation-Bohrungen voraussichtlich Anfang März 2025 beginnen werden, abhängig von den Wetterbedingungen.
Darüber hinaus wird eine dronenbasierte luftgestützte Magnetuntersuchung im Februar beginnen, durchgeführt von Zonge International Inc. Diese Untersuchung dient dazu, das Verständnis von mineralisierten Strukturen zu verfeinern und neue Explorationsziele mithilfe von 3D-Voxel-Modellierung zu identifizieren. Das Projekt umfasst derzeit 241 historische Bohrlöcher und 14 Bohrlöcher von Provenance, wobei die Goldmineralisierung hauptsächlich mit veränderten Diorit-Intrusionen in Verbindung steht.
Das Unternehmen plant ein gestaffeltes 10.000+ Meter RC- und Kernbohrprogramm, das sich auf die Erweiterung der bekannten mineralisierten Bereiche und die Erschließung neuer Gebiete konzentriert. Die Ergebnisse der Löcher EC-02 und EC-03 stehen noch aus und werden nach der Überprüfung bekannt gegeben.
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Vancouver, British Columbia--(Newsfile Corp. - February 6, 2025) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the "Company" or "Provenance") is pleased to announce that it has engaged Boart Longyear ("Longyear"), a highly experienced drilling company operating in the western US since 1890, as its new drilling contractor for the Eldorado project. The Company will work closely with Longyear via their key operator to ensure the drill program is efficient, effective and on budget. Reverse circulation (RC) drilling is expected to commence in early March, weather permitting.
Provenance also announces that a drone-based airborne magnetic survey will commence in February at its Eldorado property in eastern Oregon. The survey will be conducted by Zonge International Inc. and is designed to further refine the understanding of mineralized structures at Eldorado and to uncover additional property-wide exploration targets using the resultant 3D voxel model to be generated from this data. The strong correlation between highly mineralized drill holes, magnetic and IP data suggests that a high resolution 3-D magnetic survey will be a very valuable tool to assist in accurately defining drill targets (see Figures 1 & 2).
"We are excited to expand our exploration efforts with the upcoming airborne magnetic survey," said Rauno Perttu, CEO of Provenance. "The historic magnetic data already shows a significant correlation with areas of strong mineralization and specific magnetic characteristics. Large untested regions display these magnetic characteristics. This survey will cover the entire property, helping to pinpoint additional targets and improving the precision of our drilling program."
Provenance looks forward to exploring and growing the gold system at Eldorado and to a successful year of exploration ahead. Details of the upcoming drill program will be announced when finalized.
Eldorado Highlights
The Eldorado project hosts a large structurally controlled gold system, currently defined by 241 historic drill holes and 14 drill holes by Provenance. The gold system remains open in all directions.
Gold mineralization at Eldorado is primarily associated with an altered diorite intrusive, with historic regional magnetic surveys demonstrating a strong correlation between mineralization and magnetic destruction caused by mineralizing fluid flow. Provenance's recent Induced Polarization (IP) survey, along with historical regional magnetics, has highlighted structural pathways for the mineralizing fluids.
This year's staged 10,000+ meter RC and core drilling program will focus on expanding and infilling known mineralized areas while also conducting a major step-out program to explore new areas beyond previous drilling identified through geological mapping, prospecting, and geophysical and LiDar surveys.
Figure 1: The northern part of the property shows strongly colored and altered rock from an adjacent prospect pit that was exposed by last year's range fire. These unexplored areas will all be covered by the drone survey.
To view an enhanced version of this graphic, please visit:
https://www.provenancegold.com/images/gallery/PAU_News_20250206-Fig1.jpg
Figure 2: The foreground shows new exposures of mineralized bedrock that will be included in the magnetic survey. The drill rig in the far-left distance to the north is in the middle of Provenance's drilling area of the past two years.
To view an enhanced version of this graphic, please visit:
https://www.provenancegold.com/images/gallery/PAU_News_20250206-Fig2.jpg
EC-02 and EC-03 Assay Update
The Company is expecting the results from these two holes imminently and results will be announced once analyzed and reviewed. Although drilling at EC-02 and EC-03 encountered significant operational challenges as well as drilling ground condition difficulties within fault structures, the Company believes the information gained will create a clearer picture of the mineralization in the area between the first zone and the boulder zone which will help guide exploration in that part of the property. Additionally, the Company is working diligently to facilitate a more timely turnaround of results.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo., M.Sc., a Qualified Person as defined under National Instrument 43-101.
About Provenance Gold Corp.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver mineralization within North America. The Company currently holds interests in Nevada, and eastern Oregon, USA
Provenance is also active on social media and invites investors to follow us on X to stay up to date with our latest news and developments:
For further information please visit the Company's website at https://provenancegold.com or contact:
Rauno Perttu, CEO
rkperttu@provenancegold.com
1-541-930-0986
On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chief Executive Officer
Safe Harbor Statement: Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239853
FAQ
When will Provenance Gold (PVGDF) begin its new drilling program at Eldorado?
What is the scope of PVGDF's planned drilling program at the Eldorado property?
How many drill holes currently define the Eldorado gold system?
What new technology is PVGDF implementing at the Eldorado property in February 2025?
What are the current drilling results for PVGDF's EC-02 and EC-03 holes?
