(TheNewswire)
VANCOUVER – TheNewswire - June 22, 2021 - Providence Gold Mines Inc.(“Providence” or the “Company”) (TSXV:PHD) ( OTC:PRRVF ) further to the recent press release dated, June 7, 2021 theCompany is pleased to announce that a “Spidex” excavatorcontractor has been commissioned to be onsite July 10, 2021. Thepurpose of the program is to trench and sample the recently announcedgold discoveries on its Providence Gold Property located nearby thecity of Sonora, California.
Surface reconnaissance at the location of a previouslyreported circular, (and approximately 4 metres in diameter),gold-in-soil anomaly confirms the discovery of a localized coincidentsericitic alteration bloom which appears to be associated to aprominent cross-fault. This surface exploration gold target appears tobe situated north of, and in the footwall of the Fairplay Lode, whichhosts the Providence North and South Ore shoots.
Ronald Coombes,President and CEO states, “The historicalProvidence group of high-grade gold mines continues to producepotentially significant new gold targets. The Company is excited totrench these new surface gold targets. Without today’s technologicaladvantages, like the old timers, we would have walked right over thesezones without taking a second look, as there is no evidence ofoutcrop. It is exciting having not only the potential furtherdevelopment of the historical gold mines, but to as well potential fornew deposits right from surface. The Providence Group of Gold Mines istruly a very promising gold property”.
Trenching of two others recentlydiscovered separate barren sericitic alteration blooms is alsoplanned. These two zones potentially represent new explorationtargets. Typically, these intense barren sericitic alteration bloomsconstitute high-confidence exploration targets at Mother Lode Beltmine properties.
Qualified Person:
David Turner, P.Geo. is the Company’s qualifiedperson (as defined under NI 43-101) and
has read and approved the technical informationcontained in this news release.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President & CEO
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 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.
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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