(TheNewswire)
VANCOUVER – TheNewswire - September 21, 2021 - Providence Gold MiningInc. (“Providence” or the “Company”) (TSXV:PHD ) (OTC:PRRVF) is pleased to report that a 3.77Kg sample of quartz material taken from the surface at the McCarthymine yielded gold values of 77.0 to 97.0 grams.
Historical records indicate that until 1916 theMcCarthy mine produced multi-ounce material over a width of 2 to 3meters to a depth below surface of less than 60 meters. An undergrounddrift was designed but not followed through on McCarthy gold deposit.
Samples were sent to Bureau Vertis in Sparks, Nevadafor analysis using FA430 fire assay fusion with AAS finish.
The recent exploration program focused on the areasurrounding the McCarthy mine. Two trenches were dug with a Spidexexcavator some 90-meters south of the mine. One target remainsuntested due to the steepness of the hillside which exceeded theability of the excavator.
Assaying of samples collected along a 100-meter strikelength exposing a lode structure 1.0 to 1.4 meters wide returnedanomalous gold values ranging from 400 to 700 ppb. The overall width(10 to 20 meters) and intensity of the alteration bloom (which ismostly in the footwall beneath the 45-to-50-degree NE dipping lode)suggests potential for a high-grade offshoot target at a verticaldepth of approximately 90 meters.
Further modeling is currently underway. Once completedwe plan to drill 3,000 to 4,000 meters of HQ core within and beneaththe historical Providence, Fairplay, McCarthy, Mexican, Consuelo,Goodenough, and Bonita historic high-grade mines.
Qualified Personnel:
Dr. Lee Groat Ph.D., P.Geo is the Company’s qualifiedperson (as defined under NI 43-101 and has read and approved thetechnical information contained in this news release).
Mark Payne P. Geo is registered in the State ofCalifornia is working under the direct supervision of Lee Groat P.GeoQ.P.
Image shown here is the MacCarthyAdit.
About Providence Gold MinesInc.
Providence Gold Mining Inc. is an advanced-stage goldmine exploration and development Company holding an option to purchase100% interest in the Providence Group of Gold mines near the City ofSonora California.
For more information, please contact Ronald Coombes,President and CEO of the Company.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President &CEO
Office: (604) 688-8200
Email: info@providencegold.com
Wai Akdogu, CCO &Consultant
Phone: (778) 952-2660
Email: media@providencegold.com
On behalf of Providence Gold Mining Inc.
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CAUTIONARY STATEMENT REGARDINGFORWARD-LOOKING INFORMATION
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.
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release
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