Provenance Gold – Comprehensive Exploration Update From The Eldorado West and Eldorado East Gold Projects
Rauno Perttu, CEO and Chairman of Provenance Gold (CSE:PAU) (OTCQB:PVGDF), joins us for a comprehensive exploration update on the Eldorado Gold project in eastern Oregon; across both their Eldorado West and Eldorado East claim block areas. We also get into Oregon as a mining jurisdiction and dispel some common misconceptions.
Eldorado West is where most of the historic work and modern exploration work has been completed, and it hosts a historical resource estimate of 1.98 million oz at 0.75 g/t gold, with ~22,000 meters (m) of historical drilling. On October 8th the Company announced the first step-out drilling results from the Herman Area of its Eldorado West gold project, significantly expanding the potential scale and scope of gold.
Highlights from these step-out holes:
- Drill hole #ED27 returned 25 g/t gold over 44.20m, within 179.83m of 0.67 g/t gold
- Drill hole #ED28 returned 1.01 g/t gold over 108.20 meters within 0.82 g/t gold over 172.21m
Drill holes ED27 and ED28, the first holes completed in the newly permitted Herman Area, are located 730 meters south of recently reported hole E26; and intersected broad, pervasive intervals of strong gold mineralization from surface. These 2 holes also identified a new mineralized contact zone between the host sedimentary rocks and the diorite which is shallow-dipping, laterally extensive, and projects south, west, and northwest of ED27 and ED28. The company will continue stepping out in future drilling to test the limits of the system before then working on validating and expanding the historic resources.
Eldorado East now includes the recently acquired 5,867 acres where there is ground-work, sampling, and drill permitting underway and is expected to be ready to drill by Spring 2026. There are historical resource estimates at Sunday Hill with roughly 170,000 oz at 23.15 g/t gold and the Randall Mine area with roughly 50,000 oz at 8 g/t gold.
We then shift the conversation over to common investor misconceptions about mining and mineral development in eastern Oregon, and some of the permitting progress being made by other nearby companies in that part of the state with local stakeholders and the government.
Wrapping up we shift to the financial health of the company to execute on their immediate work initiatives, and how things could even be expanded more rapidly moving into next year.
The estimates mentioned within are considered to be historical in nature, should not be relied upon, and is provided only for historical context on development of the property. A Qualified Person has not completed sufficient work to classify the historical estimate as a current mineral resource, and it predates current CIM (Canadian Institute of Mining, Metallurgy and Petroleum) categories. Provenance is not treating the historical estimate as a current mineral resource or reserve. Significant data compilation, redrilling, resampling and data verification will be required by a qualified person before the historical estimate can be classified as a current resource.
If you have any follow up questions for Rauno about Provenance Gold, then please email us at Fleck@kerport.com or Shad@kereport.com.
