Drill Results
Provenance Gold Intersects 1.10 g/t Gold over 139.14m from Surface, Including 2.68 g/t Gold over 24.90m and 1.99 g/t Gold over 10.03m at the Herman Area
Provenance Gold Expands Herman Zone Despite VP Exploration Exit; Price Dips on Dilution Fears

Executive Summary
Executive Summary of Latest Release
- Date: 2026-05-12
- Event Type: Drilling Results & Management Update
- Headline: Provenance Gold Intersects 1.10 g/t Gold over 139.14m from Surface, Including 2.68 g/t Gold over 24.90m and 1.99 g/t Gold over 10.03m at the Herman Area
- Key Drill Result: Hole EC-06 returned broad mineralization (1.10 g/t Au over 139.14m) with internal higher-grade shoots, expanding the Herman gold zone to the southwest.
- Management Change: Luke Schranz resigned from his position as Vice President, Exploration (VPEx).
- Future Plans: Assays pending for holes EC-07, EC-09 (Herman), and EC-08 (Tyee). Maiden resource estimate is planned.
Material Impact
News vs. Expectations
- Drilling Results: The EC-06 intercepts (139m @ 1.10 g/t) are consistent with the March 2026 high-grade results, confirming a large-scale system rather than isolated shoots. This validates the "bulk-tonnage" potential previously hinted at.
- Market Reaction: Despite positive drilling in March and May, the stock price has declined from $0.34 (Feb 10) to $0.21 (May 11). The market appears to be pricing in dilution concerns or skepticism regarding the timeline to a maiden resource estimate.
- Management Risk: The resignation of the VP Exploration is a significant governance red flag for an exploration-stage company. It introduces uncertainty about the continuity of technical leadership and potential internal disagreements, dampening the positive impact of the drill results.
PAU · Price
Company Overview
Project Details
- Flagship Asset: Eldorado West Project, Eastern Oregon.
- Geology: Mineralization hosted in altered/brecciated diorite and metasediments along contact zones.
- Status: Exploration stage. No maiden resource estimate yet. Drilling program ongoing (2025-2026).
- Scale: System described as "large, continuous" with open potential in all directions.
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May 26, 2026 · 05:01