Provenance Gold Intercepts 1.01 g/t Gold Over 108.20m Within 172.21m of 0.82 g/t Gold from Surface, Extending Mineralization 730 Meters South, Identifying A Major New Target at Eldorado West
Executive Summary
- Provenance Gold released first step‑out RC drill results from holes ED27 and ED28, showing multiple broad intervals of >0.5 g/t Au and several high‑grade zones up to 10.16 g/t Au.
- The intercepts expand the known mineralized footprint south‑west of previously drilled hole E26 and define a new shallow‑dipping diorite‑metasedimentary contact zone that may host both bulk‑tonnage and high‑grade gold.
- Ongoing drilling (ED29, EC04) and detailed geological mapping are planned to further test the expanded target and support next year’s 2–3 km step‑out program.
Key Details
- Hole ED27 (0–179.83 m):
- 1.25 g/t Au over 44.20 m (incl. 1.58 g/t over 6.10 m, 1.63 g/t over 22.86 m)
- 10.16 g/t Au over 1.52 m in a newly defined contact zone at 172.21–173.74 m
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1.92 g/t Au over 7.62 m within 0.5 g/t Au over 53.34 m (211.84–265.18 m)
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Hole ED28 (0–172.21 m):
- 1.01 g/t Au over 108.20 m (incl. 1.75 g/t over 15.24 m, 3.27 g/t over 6.10 m)
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0.86 g/t Au over 13.72 m and 0.38 g/t Au over 41.15 m (incl. 2.01 g/t over 3.05 m in contact zone)
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Both holes are the first completed in the newly permitted Herman Area, located ~730 m south of hole E26.
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Geological significance:
- Identification of a shallow‑dipping, laterally extensive diorite‑metasedimentary contact zone that projects south, west and northwest from ED27/ED28.
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The geometry suggests a new broad exploration target capable of hosting both bulk‑tonnage and high‑grade mineralization across previously unexplored southern/western portions of Eldorado West.
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CEO Comment (Rauno Perttu): Emphasized the broader target, larger mineralized system, and ongoing visual mineralization in hole ED29, indicating open‑ended potential in all directions.
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Ongoing Exploration:
- RC drilling continues with ED29 (assays pending) drilled southwestward from ED27.
- Core rig on site; EC04 core drill initiated in Herman Area to expand known mineralization and assess structural controls.
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Detailed geological mapping underway for a planned 2–3 km step‑out area slated for next year’s program.
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Assay methodology & QA/QC:
- RC chips sampled at 1.5 m intervals; standards, blanks, duplicates inserted ~every 30 m.
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Samples analyzed by PhotonAssay™ at Paragon Geochemical (ISO 17025:2017); large (~500 g) assay charge improves representativeness for coarse gold.
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Qualified Person: Jo Price, P.Geo., M.Sc., technical advisor and NI 43‑101 Qualified Person reviewed the technical content.
Notable Quotes
“We are confirming a broader target in the Herman Area that looks to substantially increase the mineralized footprint of the Eldorado property… I believe we are only exploring a fraction of a very large gold system.” – Rauno Perttu, CEO & Chairman, Provenance Gold Corp.