Provenance Gold Completes Drone-Based Airborne Magnetic Survey at the Eldorado Project
Rhea-AI Summary
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.
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News Market Reaction
On the day this news was published, PVGDF gained 1.91%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - March 20, 2025) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the "Company" or "Provenance") is pleased to announce that a drone-based airborne, high resolution, magnetic survey has been completed at its Eldorado property in Eastern Oregon.
The strong correlation between highly mineralized drill holes and reduced magnetic signatures in the diorite suggests that this high-resolution 3D magnetic survey will be a valuable tool to assist in accurately defining drill targets together with the IP survey and detailed mapping that was already completed this winter. It is important to note that only a small area of the property has been explored in detail to date, with the Company looking to increase the size and scope of the gold mineralization substantially in 2025.
The survey was conducted by Zonge International Inc. and was designed to further refine the understanding of mineralized structures at Eldorado and delineate additional property-wide exploration targets through detailed 3D modelling of the new magnetic data. Results are expected in the coming weeks and will be released when available.
2025 RC Drill Program
The initial 2025 RC drill program will be commencing in the next few weeks now that weather conditions at the site are more favorable. We are confident that Boart Longyear, as drill contractor, will bring experience and efficiencies to the 2025 program.
This program is a follow-up to our 2024 three-hole core drilling program which included the following results:
- Hole EC-01 returned 2.01 g/t Au over 288.34m from surface including 3.07 g/t Au over 175.26m (see press release dated December 9, 2024)
- Hole EC-02 intersected 156 meters that assayed 0.501 g/t gold including 32 meters of 0.94 g/t gold (see press release dated February 28, 2025)
- Hole EC-03 intersected 154 meters of 0.8 g/t gold, including 13.7 meters that assayed 3.02 g/t gold and 12.2 meters containing 2.57 g/t gold (see press release dated February 28, 2025)
The Company has also secured Paragon Geochemical to assay the upcoming drill holes in an effort to streamline the process from the site to the assay laboratory and expedite assay turnaround times which will help guide our initial drill program.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo., M.Sc., a Qualified Person as defined under National Instrument 43-101.
About Provenance Gold Corp.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver mineralization within North America. The Company currently holds interests in Nevada, and eastern Oregon, USA.
Provenance is also active on social media and invites investors to follow us on X to stay up to date with our latest news and developments:
For further information please visit the Company's website at https://provenancegold.com or contact:
Rauno Perttu, CEO
rkperttu@provenancegold.com
1-541-930-0986
On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chief Executive Officer
Safe Harbor Statement: Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245389
FAQ
What were the key drilling results from Provenance Gold's (PVGDF) 2024 Eldorado project?
What new technology is PVGDF using at the Eldorado property in 2025?
When will Provenance Gold (PVGDF) begin its 2025 RC drill program?
How much of the Eldorado property has PVGDF explored so far?
What improvements has PVGDF made to its assaying process for 2025?
