Provenance Gold Corp. (CSE: PAU | OTCQB: PVGDF) has announced that its first drilling programme at its Eldorado gold project in Malheur County, Eastern Oregon has returned significant gold assays within the first three holes drilled, with more holes yet to be drilled.
After completion of the first three holes, project manager Steve Craig stated “This is better than a new discovery because we already know that we have a large strong gold system. We are confirming historic drilling and testing that outlined an expansive open-ended gold system. These first assays are even better than we expected.”
The company has designed the initial programme to confirm and expand a large near-surface open-ended gold system that was outlined by 242 historic drill holes.
The first hole, ED-01, which was a westward-directed minus 55-degree angle hole, supports the continuity of the gold zone mineralization and thickness that has not previously been tested. It intersected 141m of gold mineralization with the best interval being 47.2m of 1.108g/t gold.
ED-02, the second hole, tested one of several undrilled locations within the historic area of mineralization. Additionally, most of the historic holes were less than 90m deep, while much of the historic mineralization, including the strongest mineralization, is below 90m.
Hole ED-02 was a vertical hole drilled to 128m, where it bottomed in strong mineralization. The entire 128m vertical hole averaged 1.08g/t gold with the best assay interval at 20.24g/t gold over 1.5m. This hole bottomed in mineralization and has been deepened, with assays pending.
The third hole, ED-03, was in proximity of the company’s historic hole R-136. The entire hole averaged 140m of 1.3g/t gold, within which 23m averaged 4.59g/t gold, with 1.5m assaying 20.35g/t gold. The hole bottomed in 3.205g/t gold and has been deepened with assays pending.
Rauno Perttu, CEO of Provenance commented “This is a game changer for Provenance. With further drilling, we have the potential to develop a very large gold system. Stay tuned”.
To find out more, please visit www.provanencegold.com
