- Provenance Gold (PAU) reports drilling has begun at White Rock to start defining core mineralized areas
- This initial drilling is intended to define the stratigraphic and structural controls and grades within the extensive central area of sediment
- The initial holes have already clarified and begun to confirm the new structural model for the gold system
- Provenance will keep its investors updated on the advancement of this drilling program, and on developments on its Mineral Hill silver property
- Provenance Gold Corp. (PAU) is up 8.70 per cent and is trading at C$0.12 at 10:46 am ET
Provenance Gold Corp. (PAU) has started drilling on its White Rock property in the northeastern corner of Elko County, Nevada.
This initial drilling is intended to define the stratigraphic and structural controls and grades within the extensive central area of sediment-hosted gold mineralization.
The target mineralization extends across a 3.2 km by 1.6 km area centred on a complex dome structure that is believed to have formed on the upper plate of a system of thrust faults.
Initially, the company is looking to confirm historic drill holes that intersected numerous thick intervals of potentially open-pit grade gold mineralization while confirming a new understanding of the structural and stratigraphic controls of the gold mineralization.
The drilling has started near a historic hole that reported 76 meters of 0.6 g/t gold, within which 3.5 meters ran 5.7 g/t.
The initial holes have already been clarified and begun to confirm the new structural model for the gold system. Assay results for the initial holes are expected by early August, and visible observation of the drill samples is encouraging.
Sixty-five widely spaced short holes were historically drilled by several companies on the 20 square km property.
These historic holes support Provenance’s belief that an extensive shallow gold system occurs on and near the structural dome.
It has recognized that pervasive silicification of the host limestones, plus extensive brecciation and faulting have caused some earlier explorers to miscorrelate and misidentify stratigraphic units.
Provenance believes the core area of gold mineralization has never really been tested.
Provenance will keep its investors updated on the advancement of this drilling program, and on developments on its Mineral Hill silver property.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver resources within North America and it currently holds interests in three properties in Nevada, USA.
Provenance Gold Corp. (PAU) is up 8.70 per cent and is trading at C$0.12 at 10:46 am ET.