- Provenance Gold (PAU) announced today that a major step-out drill hole at the White Rock property intersected 117 metres of gold mineralization starting at the surface
- Data from this hole supported the company’s belief that the property hosts a large, shallow gold system
- The hole intersected 85 metres averaging 0.369 g/t gold
- Provenance Gold is a precious metals exploration company with a focus on gold and silver resources in North America
- Provenance Gold (PAU) is currently up 3.33 per cent, trading at $0.155 per share
Provenance Gold (PAU) announced that a major step-out drill hole at the White Rock property intersected 117 metres of gold mineralization.
Data from this hole supports the company’s belief that the property hosts a large, shallow gold system.
Located in Elko County, Nevada, Provenance Gold originally optioned the White Rock property from Ely Gold Royalties, which was recently acquired by Gold Royalty Corp.
“We optioned all the original claims at White Rock to Provenance,” said Jerry Baughman of Gold Royalty, “because we recognized that the exploration team consisting of Rauno Perttu and Steve Craig are the best in Nevada for developing the Project.”
Drill hole WR-23, sited 800 meters southeast of the company’s initial confirmation drilling area, appears to be near the center of the initially recognized mineral system, which extends at least another kilometre further southeast.
Hole 23 was drilled to a depth of 146 metres, with strong mineralization beginning at the surface and continuing to 117 metres.
The hole intersected 85 metres averaging 0.369 g/t gold, with other grade intervals including 0.778 g/t at 38 metres.
Rauno Perttu, CEO of Provenance Gold, commented,
“This hole is significant because it helps to verify our belief that this is a very extensive open-pit grade gold deposit, with grades typical for a Nevada open pit mine.”
“As field work continues, we find that the mineralization potential keeps growing,” he added.
Provenance Gold is a precious metals exploration company with a focus on gold and silver resources in North America. The company currently holds interests in three properties in Nevada.
Provenance Gold (PAU) is currently up 3.33 per cent, trading at $0.155 per share as of 1:13 pm ET.