(TheNewswire)
February 4, 2021 – TheNewswire - Providence Gold Mines “the Company” ( TSXV:PHD ) ( OTC:PRRVF) is pleased to report that David Turner P.Geo together with Lee Groat Ph.D. P.Geo the Company’s Qualified Person, are reviewing a proposalfrom a leading US Metallurgical Laboratory to conduct bulk samplegravity testing of the stockpile material in the form of an extendedgravity recoverable gold (E-GRG) at FLSmidth Minerals Testing andResearch Center of Salt Lake City, UT.
The bulk sample test work is designed to determine theamount of free gold in the material. The Company has been informedthat the lab testing can commence begin March 1st, 2021 and estimatedresults within 4 weeks.
The Company recently concluded a percussion drillprogram to determine the depth profile of the stockpile assays and todemonstrate the presence of gold and not the true representation ofvalues. The Company believes the surface trenching program whichreturned significant gold values reported in NR of November 5th, 2019are representative of the stockpile of material.
The bulk sample material has been collected from thestockpile is now on transit to Utah.
The Company has commissioned and is awaiting a 3D modelof the stockpile of material.
The Company continues with the opinion that thematerial represents most of the historically milled material of theProvidence mine production of over 200,000 ounces of gold and thathistorical mining recovery methods in 1916 were poor when compared totodays mining practice.
Qualified Person:
Lee Groat Ph.D. P.Geo is the Company’s qualified person (as definedunder NI 43-101 and has read and approved the technical informationcontained in this news release.
Click HERE ToWatch "Drilling at the Providence Gold stockpile”Video
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President & CEO
FOR FURTHER INFORMATION PLEASECONTACT:
Office: (604) 688-8200
Email: info@providencegold.com
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All statements, trendanalysis and other information contained in this press releaserelative to markets about anticipated future events or resultsconstitute forward-looking statements. All statements, other thanstatements of historical fact, included herein, including, withoutlimitation, statements relating to the permitting process, futureproduction of Providence Gold Mines, budget and timing estimates, theCompany’s working capital and financing opportunities and statementsregarding the exploration and mineralization potential of theCompany’s properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks anduncertainties 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 developmentprograms and uncertainty of meeting anticipated program milestones;and uncertainty as to timely availability of permits and othergovernmental approvals. Forward-looking statements are based onestimates and opinions of management at the date the statements aremade. Providence Gold Mines does not undertake any obligation toupdate forward-looking statements except as required by applicablesecurities laws. Investors should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release
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