Provenance Gold (CSE:PAU) Chairman Rauno Perttu says the company is beginning to reveal the true potential of the Eldorado Project in the US, after receiving further results from an ongoing drilling program.
The latest results – which returned grades up to 11.61 grams per tonne gold – demonstrate the gold mineralisation hosted in Zone 1 continues to push northward, opening new growth potential for the zone. The connection with hole ED-21 mineralisation also provides further evidence of a broad, cohesive system with growth potential to the north and to the east.
Some of the latest results include 92.96m @ 1.55 grams per tonne gold, including 25.91m @ 2.39g/t gold and 1.52m @ 11.61g/t gold.
Provenance Gold says these results reinforce the company’s evolving structural model, suggesting shallow-dipping sheets of mineralisation, with good continuity between zones.
Perttu says drillhole ED-26 delivered broad, consistent mineralisation and also confirms the geological interpretation that the gold system is dipping at a low-angle and connecting across zones.
“The extension of mineralisation north and its link with ED-21 underscores the scale and continuity we are uncovering,” he says.
“Each stepout continues to add significant mineralisation and expand the footprint of this system.”
Results are pending from holes ED-27 to ED-31 and are expected to provide additional context on the geometry and scale of the expanding mineralised corridor.
Provenance Gold recently entered a newly permitted area within Eldorado for drilling, which aims to expand the broad, pervasive mineralised gold system and locate additional high-grade feeder zones or structures.
The Eldorado Project, located 60km northwest of Vale in Malheur County, Oregon, US, hosts a historical estimate of 1.98 million ounces @ 0.753g/t gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Provenance Gold
