PHD:CC - Providence Gold Mines Inc. Exploration
(TheNewswire)
VANCOUVER – TheNewswire - May 6, 2024, Providence Gold Mines Inc. (“Providence” or the “Company”) (TSXV:PHD) (OTC:PR) (Frankfurt:7RH1F) is delighted to announce the 2024 exploration program plansto follow up the Company’s recently announced updatedgeology . The 2024exploration program is designed to specificallytarget the discovery surfacegold zone which yielded valuesof up to 17.5 g/t Au . The Company and technicalteam concur that the first priority is the surface discovery goldzone; to determine size and potential economic significance to beexploited.
Once substantiated, this gold discovery will beevaluated for blending with the previously reported stockpilematerial.
Ronald A. Coombes, President &CEO ofProvidence observed; “The best place to explore for gold is wheregold is, with the Providence group of gold mines famous history ofhigh-grade gold production , there remains enormous potential!” .
Gordon Gibson, P.Geo. reported in the Company’s newsrelease of April 9 th , 2024 , “It is important to note that drill holePR19-05 intersected a footwall splay vein of the central plume at thesurface, returning 3.04 metres of 2.46 g/t Au. A surface , channel sample at thecollar of hole PR19-05 returned 0.50 metres of 17.5 g/t Au.The splay vein of hole PR19-05, from the surface to the uppermost stopesof the Providence 100 level - a zone measuring approximately 52 × 100metres, is considered a prime gold target at surface.”
An 8-minute walk-through of this new modelling isavailable at:
The subsequent exploration phase is designed toinclude core drilling with a minimum of 4,000 metres of HQ core at theMcCarthy and the Mexican shafts area. Previously reported on September21, 2021, sampling of a random 3.77-kilogram rock sample at the McCarthy portal yielded 77 to 97 g/t Au with multiple retests for quality assurance. Both the McCarthy and the Mexican shafts and general area nearby arethe Company’s primary core drill targets.
Ron Coombes President & CEO states ,” The Company’sProfessional Geologist in the State of California Mr. Mark Payne, (Mr. Payne reports to ourQualified Person as required under NI 43 101) , has been activelyinvolved with gold exploration in the Motherlode Gold Belt for thepast 45 years and been responsible for many new gold discoveries inthe region. As a Professional Geologist Mr. Payne has been involved in ourexploration programs at the Providence Gold Group of Gold Mines since2021 and since then has identified many new explorationtargets”.
Mr. Payne has stated in his opinion , “ that the ProvidenceGroup of Gold Mines represents a target rich environment hosting alarge potential gold endowment and that the property hosts asizeable and complex system of gold quartz veins , which has a provenlegacy of high-grade gold production from multiple locations at theproperty”.
The Providence Group of Gold Mines is a famous historical high grade goldproducer . The Property consists of the Providence,Fair play, Good Enough, Consuela, Bonita, McCarthy, and Mexicanmines.
In addition, property-widesurface drill targets continue to be refined near the McCarthy andMexican shafts a s wellas an untested area north of the Mexicanshaft , where significantground preparation provides a favourablestructural setting for hanging wall splay veins analogous to thehistorical "Bonanza"stope at the Providence mine. The Bonanza stope alone reported historical recovery of 50,000 ounces of high-gradegold.
The Providence Group of Gold Mines productionreportedly ceased in 1916 due to a dispute and a major fire whichburned all the milling infrastructure and surrounding area to theground, after that ; theSpanish flu and war kept the property to remain amazingly idle until Providence Gold optioned the property in late 2017.
Our Geological Team:
Our Qualified Person, Dr. Lee Groat Ph.D., P. Geo isthe Company’s qualified person (as defined under NI 43-101 and hasread and approved the technical information contained in this newsrelease).
Mark Payne is our Registered P. Geo in the State ofCalifornia and has specialized for over 45 years in the CaliforniaMother Lode Gold Belt.
Gordon Gibson P. Geo is a structural expert andgeologist with over 40 years of experience.
Referenced News Releases and otherWeb Links:
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McCarthy Mine Results 3.77 Kg SampleYields 77.0 to 97.0 Grams Gold ( https://providencegold.com/providence-gold-mines-announces-mccarthy-mine-results-3-77-kg-sample-yields-77-0-to-97-0-grams-gold/
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Providence Gold Discloses Discovery of SignificantArchived Report ( https://providencegold.com/providence-gold-discloses-discovery-of-significant-archived-report/ )
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Latest news release with video of Enhanced Modellingfor Drill Targeting ( https://providencegold.com/enhanced-real-time-drill-target-modelling/
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April 2021 BulkSample testing reveals anticipated Gold Values from processing thestockpile ( https://providencegold.com/anticipated-gold-values-found-in-stockpile-bulk-sampling-analysis-2/
About Providence Gold MinesInc.:
Providence Gold Mining Inc. is an advanced-stageexploration and development Company holding an option to purchase 100%interest in the Providence Group of Gold mines near the miningfriendly City of Sonora California.
For more information, please contact Ronald Coombes,President, and CEO of the Company.
Ronald A. Coombes, President &CEO
Phone: (604) 724-2369
Email: rcoombes@providencegold.com
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CAUTIONARY STATEMENT REGARDINGFORWARD-LOOKING INFORMATION
Neither the OTCQB and or the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
All statements, trend analysis and other informationcontained in this press release relative to markets about anticipatedfuture events or results constitute forward-looking statements. Allstatements, other than statements of historical fact, included herein,including, without limitation, statements relating to the permittingprocess, future production of Providence Gold Mines, budget and timingestimates, the Company’s working capital and financing opportunitiesand statements regarding the exploration and mineralization potentialof the Company’s properties, are forward-looking statements.Forward-looking statements are subject to business and economic risksand uncertainties and other factors that could cause actual results ofoperations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual resultsto differ materially from Providence Gold Mines expectations includefluctuations in commodity prices and currency exchange rates;uncertainties relating to interpretation of drill results and thegeology, continuity and grade of mineral deposits; the need forcooperation of government agencies and native groups in theexploration and development of properties and the issuance of requiredpermits; the need to obtain additional financing to develop propertiesand uncertainty as to the availability and terms of future financing;the possibility of delay in exploration or development programs anduncertainty of meeting anticipated program milestones; and uncertaintyas to timely availability of permits and other governmental approvals.Forward-looking statements are based on estimates and opinions ofmanagement at the date the statements are made. Providence Gold Minesdoes not undertake any obligation to update forward-looking statementsexcept as required by applicable securities laws. Investors should notplace undue reliance on forward-looking statements.
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