Provenance Gold Corp. (CSE: PAU | OTCQB: PVGDF) has announced that it has acquired a large volume of historic data on its Eldorado property that it is now digitizing. As a result, the company has a full historic drill hole database which it has used to generate cross sections, long sections, and horizontal plan sections using the property’s historic 242 drill holes.
Based on the current evaluation work, Provenance says it has determined that the gold mineralization is locally high-grade within a large volume of lower grade values and is open in all directions and vertically.
Additionally, within the larger extent of the project, numerous undrilled areas could expand the mineralization. Provenance’s review of the cross sections shows that much of the historic drilling was shallow, and stopped above, and even within the mineralization.
The company released the following images showing the distribution of the Eldorado drill holes and a cross section view of the historical drilling. The location of the cross section illustrated in figure 2 is highlighted in red in figure 1.
The following drill hole cross section is a northwest trending, 60m wideband, which shows all drill holes along this cross section. Note that gold mineralization is at least 200m deep along this cross section. Several high-grade gold samples are found in the holes displayed.
According to Provenance future exploration drilling at Eldorado must be permitted by both the BLM and DOGAMI, Oregon’s department of geology. The company expects to obtain both permits to begin confirmation drilling within the next several months.
The staged work programme includes completing compilations from the various historic studies, drilling 20 confirmation holes over a wide area of the property, and planning and permitting a second larger round of drilling into obvious targets and new areas.
Steven Craig, project manager, said, “Holes like R-90 with 67 meters of plus three grams starting at surface are rare. I look forward to starting the confirmation drilling.”
For further information please visit: https://www.provenancegold.com/
