Provenance Gold Provides Drilling Update at Eldorado
Provenance Gold (CSE: PAU) (OTCQB: PVGDF) has provided an update on its core drilling program at the Eldorado Project in eastern Oregon. The company has completed two core holes and is working on a third, with over 500m of core drilling completed. Visible gold was encountered in hole EC-01, which was drilled to 347 meters. Hole EC-02 reached 158 meters but encountered drilling difficulties in a fault zone. Hole EC-03 is targeting the same horizon as the 2023 ED-04 hole, which previously yielded 32 meters of 3.98 g/t Au. New geological mapping has identified previously unrecognized surface alteration zones extending across the property.
Provenance Gold (CSE: PAU) (OTCQB: PVGDF) ha fornito un aggiornamento sul suo programma di perforazione a carotaggio presso il Progetto Eldorado nell'Oregon orientale. L'azienda ha completato due fori di carotaggio e sta lavorando a un terzo, con oltre 500 m di carotaggio completati. È stato trovato oro visibile nel foro EC-01, perforato fino a 347 metri. Il foro EC-02 ha raggiunto i 158 metri ma ha incontrato difficoltà di perforazione in una zona di faglia. Il foro EC-03 sta mirando allo stesso orizzonte del foro 2023 ED-04, che in precedenza ha restituito 32 metri di 3,98 g/t Au. Nuove mappature geologiche hanno identificato zone di alterazione superficiale precedentemente non riconosciute che si estendono su tutta la proprietà.
Provenance Gold (CSE: PAU) (OTCQB: PVGDF) ha actualizado su programa de perforación de núcleo en el Proyecto Eldorado en el este de Oregón. La empresa ha completado dos agujeros de núcleo y está trabajando en un tercero, con más de 500 m de perforación de núcleo completados. Se encontró oro visible en el agujero EC-01, el cual se perforó hasta 347 metros. El agujero EC-02 alcanzó 158 metros pero encontró dificultades de perforación en una zona de falla. El agujero EC-03 tiene como objetivo el mismo horizonte que el agujero 2023 ED-04, que anteriormente arrojó 32 metros de 3.98 g/t Au. Nuevos mapeos geológicos han identificado zonas de alteración superficial previamente no reconocidas que se extienden por toda la propiedad.
프로베넌스 골드 (CSE: PAU) (OTCQB: PVGDF)는 오리건 동부의 엘도라도 프로젝트에서의 코어 드릴링 프로그램에 대한 업데이트를 제공했습니다. 이 회사는 두 개의 코어 홀을 완료하고 세 번째 작업을 진행 중이며, 500m 이상의 코어 드릴링을 완료했습니다. EC-01 홀에서는 347미터까지 드릴링이 진행되었고, 가시적 금이 발견되었습니다. EC-02 홀은 158미터에 도달했으나 단층대에서 드릴링 어려움을 겪었습니다. EC-03 홀은 이전에 32미터에서 3.98 g/t Au를 산출한 2023 ED-04 홀과 동일한 지평선을 목표로 하고 있습니다. 새로운 지질 지도에서 이 지역 전역에 걸쳐 이전에 인식되지 않았던 표면 변형 구역이 확인되었습니다.
Provenance Gold (CSE: PAU) (OTCQB: PVGDF) a fourni une mise à jour de son programme de forage à carottage au Projet Eldorado dans l'est de l'Oregon. L'entreprise a achevé deux carottes et travaille sur une troisième, avec plus de 500 m de forage à carottage réalisés. De l'or visible a été rencontré dans le trou EC-01, qui a été foré jusqu'à 347 mètres. Le trou EC-02 a atteint 158 mètres mais a rencontré des difficultés lors du forage dans une zone de faille. Le trou EC-03 vise le même horizon que le trou 2023 ED-04, qui avait précédemment donné 32 mètres de 3,98 g/t Au. De nouvelles cartographies géologiques ont identifié des zones d'altération de surface auparavant non reconnues s'étendant à travers la propriété.
Provenance Gold (CSE: PAU) (OTCQB: PVGDF) hat ein Update zu seinem Kernbohrprogramm im Eldorado-Projekt im östlichen Oregon bereitgestellt. Das Unternehmen hat zwei Kernbohrungen abgeschlossen und arbeitet an einer dritten, wobei über 500 m Kernbohrungen abgeschlossen sind. In Bohrloch EC-01, das bis zu 347 Meter gebohrt wurde, wurde sichtbares Gold gefunden. Bohrloch EC-02 erreichte 158 Meter, hatte jedoch Schwierigkeiten beim Bohren in einer Verwerfungszone. Bohrloch EC-03 zielt auf dasselbe Horizont wie das Bohrloch 2023 ED-04, das zuvor 32 Meter mit 3,98 g/t Au ergab. Neue geologische Karten haben zuvor nicht erkannte Oberflächenveränderungszonen auf dem Grundstück identifiziert.
- Discovery of visible gold mineralization in hole EC-01
- Extension of mineralization beyond previously known limits
- Identification of new surface alteration zones across the property
- Previous drilling results showed significant gold grades (32m of 3.98 g/t Au in hole ED-04)
- Drilling difficulties encountered in hole EC-02, preventing target depth achievement
- Assay results still pending, creating uncertainty about actual gold content
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2024) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the "Company" or "Provenance") is pleased to provide an update on its core drilling program at the Eldorado Project, Malheur County, eastern Oregon. To date, the Company has completed the first two holes, and the third hole is ongoing.
Drilling Highlights
- Two core holes have been completed and a third is in progress with the completion of over 500m of core drilling to date (Figures 1 and 2).
- Mineralization with local zones of visible gold has been encountered in various locations within hole EC-01 (see press release dated September 25th, 2024 located here) which confirms a deeper mineralized zone beneath the previously known limits of the historical drilling.
- Concurrent to the drill program, a detailed geological map has been completed on the property, correlating the new high-grade zone in hole ED-04 with new visual rock outcrops exposed by this summer's range fires. The mapping suggests the new gold zone at surface extends well beyond hole ED-04, and identifies large previously unrecognized surface alteration zones that extend across the property.
Drilling Details
Hole EC-01
Hole EC-01 was drilled to a depth of 347 meters (1,140 feet), extending the design depth by 47. The hole ended in altered mineralization and visually validates the vertical extension of the system, supports the presence of a deeper mineralized zone, and suggests the mineralization is not primarily controlled by or limited to a breccia zone. EC-01 core has been processed and samples are currently being assayed at ALS Global in Reno, Nevada. Results will be released as they become available.
Holes EC-02 and EC-03
Targeting the 2023 ED-04 hole (32 meters of 3.98 g/t Au; see press release dated July 18th, 2023 located here), hole EC-02 was drilled to a depth of 158 meters and finished in mineralization but was unable to reach the target depth due to drilling difficulties encountered in a fault zone, believed to be an important mineralizing structure. Hole EC-03 targets the same horizon at a steeper angle than hole ED-04 and just east of EC-02 with the intent of crosscutting the mineralized fault zone intersected by hole EC-02 and continuing deeper into the mineralized fault zone. EC-03 has a target depth of 300 meters and is intended to determine if the open-ended zone of 3.98 g/t gold found in ED-04 represents a new high-grade zone or an extension of the mineralized zone in holes ED-07 and ED-01. EC-02 and EC-03 core is currently being processed.
Figure 1. Plan Map of 2024 EC core holes and historical drill holes.
To view an enhanced version of this graphic, please visit:
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Figure 2. Longitudinal Section of the 2024 drillholes including 2023 drill holes
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Provenance Chairman Rauno Perttu stated, "We're delighted by the geological information provided by the core program, which increases our structural understanding of the system. We are looking forward to receiving the assay results and incorporating them with the geological mapping and IP completed this summer to design and initiate a substantial drill program for the spring of 2025. I'm convinced this project will continue to grow for many years as we continue to intersect gold mineralization and gain key information on the expansive nature of this gold system."
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 and Instagram to stay up to date with our latest news and developments:
https://x.com/ProvenanceGold
https://www.instagram.com/provenance_gold
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/228153
FAQ
What are the latest drilling results from Provenance Gold's (PVGDF) Eldorado Project in October 2024?
How deep was the EC-01 drill hole at Provenance Gold's (PVGDF) Eldorado Project?
What were the drilling challenges encountered in hole EC-02 at PVGDF's Eldorado Project?
