- Provenance Gold (CSE:PAU) is poised to continue its outperformance after robust drilling results from its Eldorado project in Oregon
- Highlights include 154 metres of 0.8 g/t gold
- Provenance Gold is a junior gold and silver miner with interests in Nevada and Oregon
- Provenance Gold stock has added 187.50 per cent year-over-year, almost quadrupling the return of the iShares S&P/TSX Capped Materials Index over the period
Provenance Gold (CSE:PAU) is poised to continue its outperformance after robust drilling results from its Eldorado project in Oregon.
Assay results testing the NE-SW mineralized structure previously discovered in ED-04 in 2023 yielded:
- 156 metres grading 0.501 grams per ton (g/t) of gold, including 32 metres of 0.94 g/t gold (EC-02).
- 154 metres of 0.8 g/t gold, including 13.7 metres of 3.02 g/t gold and 12.2 metres of 2.57 g/t gold (EC-03), representing new high-grade zones open down-dip and in both directions.
Results from the three drillholes support the presence of a “significant gold bearing structure,” according to Friday’s news release, which remains open in all directions. Given core loss because of difficult drilling conditions, including faulted, fractured and brecciated zones, management believes EC-02 and EC-03 “underrepresent” the potential seen in ED-04.
Provenance’s upcoming over 10,000-metre drill program in March will target four higher-grade zones guided by surface mapping, geophysics and a pending 3D drone magnetic survey.
Leadership insights
“The results achieved by our modest three-hole core drilling program this past fall, coupled with our aggressive upcoming drilling program, should enable us to expand the mineralized footprint of the property considerably,” Rauno Perttu, Provenance Gold’s chief executive officer, said in a statement. “We expect this to be a very exciting and strong year of advancement for Provenance Gold as we move diligently to unearth this project’s maximum potential.”
About Provenance Gold
Provenance Gold is a junior gold and silver miner. The company’s portfolio also includes:
- The White Rock property in Nevada, where a gold system extends across an open-ended area of at least 3.2 kilometres by 1.6 kilometres.
- The Silver Bow property, also in Nevada, which features numerous high-grade gold and silver veins.
Provenance Gold stock (CSE:PAU) last traded at C$0.23 per share. The stock has added 187.50 per cent year-over-year, almost quadrupling the return of the iShares S&P/TSX Capped Materials Index over the period.
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(Top photo of core from previously reported drillhole EC-01: Provenance Gold)