Provenance Gold Stock Price, News & Analysis

Provenance Gold (OTCQB: PVGDF) has announced an upsize to its previously announced non-brokered private placement, now targeting gross proceeds of up to $2 million. The offering consists of up to 10 million units at $0.20 per unit, with each unit comprising one common share and one-half warrant.

Each whole warrant allows the purchase of an additional common share at $0.25 for three years. The proceeds will fund the advancement of the company's Eldorado project in eastern Oregon, where an RC drilling program is currently underway, along with working capital needs. The placement is expected to close within two weeks, subject to regulatory approval.

Provenance Gold Corp has provided an update on its ongoing RC drilling program at the Eldorado West gold property in Oregon. The company has completed five RC holes (ED 12-16), with samples currently being processed at an assay lab in Nevada. Hole ED-16 reached 274 meters depth, and drilling continues with ED-17. Recent holes ED-15-17 are exploring the previously untested Tyee area, with visual observations suggesting mineralization at greater depths than before. The company highlighted previous successful drill results, including notable intersections such as 288.34m of 2.01 g/t gold (EC-01) and 118.872m of 3.278 g/t gold (ED-11). Additionally, Provenance announced a private placement to raise funds by offering up to 5 million units at $0.20 per unit, with each unit including one common share and a half-warrant exercisable at $0.25 for three years.

Provenance Gold Corp has provided an update on field work at their newly staked Eldorado East property, which includes 285 BLM mineral claims covering 4,330.85 acres. The company's geologists confirmed that the host rock at Sunday Hill contains highly altered Burnt River Schist black shale and diorite, similar to Eldorado West. Initial sampling included 13 samples from Sunday Hill ridge. Historical data from the Sunday Hill Mine shows significant potential, with previous reports indicating a near-surface gold-bearing zone averaging 23.15 g/t gold and a historical resource of 231,000 tons. The company's 2025 exploration plans include data compilation, drone magnetic surveys, geological mapping, and drilling preparations, with initial drilling targeted for fall 2025.

Provenance Gold (CSE: PAU) (OTCQB: PVGDF) has provided an update on its 2025 drilling program at the Eldorado Project in Malheur County, Oregon. The company has completed the first two RC holes (ED 12-13) with samples at the Reno assay lab, while hole ED-14 is currently at 201 meters in mineralized rock.

The drilling program focuses on expanding known mineralization and improving structural interpretation, with step-outs of approximately 50 meters. The company has confirmed a correlation between gold mineralization and fracture density within the host diorite, with highly fractured zones corresponding to northeast- and north-south-trending structural corridors. Mineralization is primarily hosted in dioritic intrusive rocks, while meta-sedimentary units remain largely untested.

Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) has significantly expanded its Eldorado project in eastern Oregon by 4,529.25 acres through staking and an option agreement, bringing the total area to 5,670 acres. The expansion includes the acquisition of the Sunday Hill Property, which contains historical high-grade gold prospects. The Sunday Hill Mine historically reported near-surface gold averaging 23.15 g/t with a historical resource of 231,000 tons, while the nearby Randall Mine reportedly contains 207,000 tons at 8 g/t gold.

The company secured the Sunday Hill Project through an option agreement with Nevada Select Royalty for US$400,000 in staged payments from 2025 to 2030, including a 3% NSR royalty with a 1% buyback option for US$2 million. The expanded land package creates a district-scale opportunity in highly prospective geology.

Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) has launched its 2025 phase 1 drilling program at the Eldorado project in Eastern Oregon. The campaign builds upon 241 historic drill holes and the company's previous 14 drill holes.

The program aims to expand an open-ended gold system discovered during 2023-2024 drilling, which revealed widespread gold mineralization starting at surface and extending beyond 200 meters in depth. The initial phase will utilize a Boart Longyear reverse-circulation (RC) drill rig and focus on expanding the mineralized zone intersected by drill holes ED-04, EC-02, and EC-03.

A second phase will incorporate a core drill rig. The company notes that historical drilling was relatively shallow, averaging 90-100 meters in depth, with most of the property remaining untested. The program is fully funded and represents the company's earliest commencement and largest exploration campaign to date.

Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) has completed a drone-based airborne magnetic survey at its Eldorado property in Eastern Oregon. The survey aims to define drill targets by leveraging the correlation between highly mineralized drill holes and reduced magnetic signatures in the diorite.

The company is preparing to commence its 2025 RC drill program with Boart Longyear as the contractor. This follows successful 2024 drilling results, including:

• Hole EC-01: 2.01 g/t Au over 288.34m from surface, including 3.07 g/t Au over 175.26m
• Hole EC-02: 156 meters at 0.501 g/t gold, including 32 meters of 0.94 g/t gold
• Hole EC-03: 154 meters of 0.8 g/t gold, including sections of 3.02 g/t and 2.57 g/t gold

Paragon Geochemical has been secured for assaying to expedite turnaround times. The company plans to expand exploration beyond the currently examined small area of the property in 2025.

Provenance Gold (CSE: PAU) (OTCQB: PVGDF) has appointed renowned mining expert Mackenzie Watson to its advisory board as senior exploration advisor. Watson, a Canadian Mining Hall of Fame Inductee, brings over 50 years of experience in Canadian exploration and mining.

Watson's notable achievements include discovering the Holloway Gold Mine in Ontario, for which he received Canada's Prospector of the Year award in 1991. Through Freewest Resources, where he served as President, he secured a $100 million deal with Noranda for a 35% interest. His discoveries also include the Icon-Sullivan copper mine, Long Lake zinc mine, Ellison gold deposit, and Hebecourt copper deposit.

Watson is a two-time recipient of the PDAC Bill Dennis Award and was named Quebec Prospector of the Year in 1992. His team's chromite discoveries in the Ring of Fire led to Freewest Resources' $239 million sale to Cliff Natural Resources.

Additionally, Provenance has granted 500,000 stock options to advisors and consultants, exercisable at $0.20 per share with a 36-month term, vesting immediately.

Provenance Gold Corp (CSE: PAU) (OTCQB: PVGDF) has reported significant gold intersections from its Eldorado Gold Project in Malheur County, Oregon. Recent drill holes EC-02 and EC-03 have yielded notable results:

- EC-02: 0.51 g/t Au over 156.4m from surface, including 0.94 g/t Au over 32m
- EC-03: 0.8 g/t Au over 154.23m from surface, including 3.02 g/t Au over 13.72m

These results reinforce a significant NE-SW mineralized structure in the Tyee Area, with the high-grade zone extending over 25m in true thickness. The mineralization remains open in all directions. The company plans an ambitious 10,000+ meter drill program for 2025, starting in March, targeting four northeast-trending mineralized zones across the property.