Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) has intersected gold mineralisation in every hole in its recently completed 35 RC holes campaign at the White Rock Gold Project in Nevada, USA.
The White Rock gold project consists of 258 lode mining claims (5,160 acres) with gold hosted in silicified limestones and shales over an area 3.2 km in length and 1.3 km wide. The property was originally optioned from Ely Gold Royalties Inc., which was recently acquired by Gold Royalty Corp., combining to create a leading growth and Americas-focused precious metals royalty company.
The project has a total of 101 drill holes completed, of which 67 historic holes were drilled by four previous operators.
Data from these older holes has now been verified for use in a future technical report. The company believes White Rock likely hosts an extensive open-pit grade gold deposit, with grades similar to currently operating Nevada open pit mines.
Highlights from the programme include: 1.452 g/t Au from 160 ft, 0.197 g/y Au from 235 ft in hole WR-15; 3.55 g/t Au from 95 ft and 2.31 g/t Au from 235 ft in hole WR-16; 3.277 g/t Au from 95 ft in hole WR-19, and 0.778 g/t Au from 100 ft in hole W-23.
Project manager, Steve Craig, said the assay results received this year confirm similar results achieved by past operators and therefore will be used in a planned NI 43-101 resource report that will be completed in the coming months. This new report, which will report tonnage and grade at different cutoffs, will be the first gold mineral resource ever calculated for the property.
The company currently has a permit revision being reviewed by the BLM for additional drill sites for a proposed 2022 drilling program. Once bonded, drilling could be initiated as early as next May after the snow has melted.
Steve Craig, project manager, stated: “Over the decades, I have managed many successful exploration programs in Nevada, and this is exactly what exploration companies in Nevada hope to find. I believe we have found an exceptional one,” Mr Craig said.
CEO, Rauno Perttu, said it has been an extremely successful initial drilling programme.
“Our work this season gave us a much clearer picture of the gold mineralisation controls. We discovered our first feeder structure and started to outline extensive areas of strong gold mineralisation.
“We also recognise several step-out and infill areas that we will follow up on with new exploration next season. Provenance has a large gold system that we believe will be advanced into a new mine and are looking forward to next year’s programme.”
Along with the initial gold mineral resource calculation and 43-101 the company will be further updating investors in the coming weeks with maps and diagrams of the drill programme which should help as a visualisation to show the size and scope of the mineralised zones.
For further information please visit: https://www.provenancegold.com/
