Provenance Gold Corp. (CSE: PAU |OTCQB: PVGDF) has announced that as part of its preparation for a planned spring drilling programme at its Eldorado Project, the company has plotted cross-sections and long-sections of previous historic drill holes. Analysis of the cross-sections and further supporting data has produced encouraging results.
Upon review of the cross-sections, Provenance’s project manager, Steven Craig, stated, “Not only is the system open outward in all directions, but it’s also wide open between the holes, and especially downward. Most of the holes bottomed short of 100m, but the holes that went deeper continued to hit thick gold zones, even to depths below 250m. The deeper holes often had their best mineralization below 100m.”
The Eldorado gold property was previously the site of extensive historic placer mining. Although the project is in a desert environment, it reportedly has very few outcrops.
Historic drilling focused on the areas where placer mining had previously exposed gold-mineralized bedrock, leaving much of the mineralized area still undrilled.
The deposit is a porphyry-style gold system, which additionally contains breccia zones that carry local high-grade gold values. Historic testing suggested that the property has strong recovery characteristics.
Previous works has also provided evidence to show that the Eldorado project has potential to hold a large mineral inventory. The company plans to update the historical estimates into a current resource model.
Provenance will focus its upcoming drilling on the verification of historic drilling, while simultaneously starting to fill in the historic gaps, as well as extending the mineralization downward and outward.
“We are confident the upcoming drilling will put the project and our company on the map. This is an exciting time for us.” said Provenance’s chairman, Rauno Perttu.
To find out more, please visit www.provenancegold.com
