- Provenance Gold (PAU) has closed its non-brokered private placement for proceeds of C$800,000
- It will use the proceeds for drilling on its Eldorado property and for furthering work on its Nevada properties, including a maiden resource estimate on White Rock
- Both projects hold the potential for significant gold discoveries
- Provenance Gold is a precious metals exploration company focused on gold and silver resources in North America
- Provenance Gold (PAU) is up by 3.13 per cent trading at $0.165 per share
Provenance Gold (PAU) has closed its non-brokered private placement for proceeds of C$800,000.
It issued 5,000,000 units priced at $0.16 per unit.
Each unit consists of one common share and one common share purchase warrant.
Each warrant entitles the holder to purchase one additional common share priced at $0.24 until January 13, 2025.
The company will use the proceeds for drilling on its Eldorado property followed by an initial resource estimate. It will also advance work on its Nevada properties, including a maiden resource estimate on White Rock, in addition to allocating toward general working capital.
Historical resource estimates completed on Eldorado
| Company | Resource estimate | Contained tonnes | Grade |
| Billiton Minerals USA | 776,000 ounces gold | 36,000,000 | 0.75 g/t gold (0.0219 ounces per tonne) |
| Ican Minerals | 1,860,000 ounces gold | 90,000,000 | 0.76 g/t gold (0.022 ounces per tonne) |
| Ican Minerals | 4,000,000 ounces gold (inferred) | 200,000,000 | 0.76 g/t gold (0.022 ounces per tonne) |
“With this funding, the company is in an excellent position to advance its projects without diluting any more than is necessary at this time,” stated Rauno Perttu, Provenance’s CEO. “With two cornerstone projects we believe we are in a very enviable position as a junior exploration company to potentially have two significant gold discoveries.”
Provenance Gold is a precious metals exploration company focused on gold and silver resources in North America.
Provenance Gold (PAU) is up by 3.13 per cent trading at $0.165 per share as of 2:02 pm EST.