Provenance Gold (CSE:PAU) is seeing the development potential of the Eldorado West Project in the US, after receiving a diamond drillhole assay result which expands mineralisation to the southwest.
The new hole (EC-06) was a step-out of the recently discovered Herman Area mineralisation and intersected broad, pervasive intervals of strong gold mineralisation from surface with wide higher grade intervals internally.
Hole EC-06 intersected 139.14m @ 1.10 grams per tonne gold, including 24.90m @ 2.68g/t gold and 10.03m @ 1.99g/t gold, with mineralisation hosted in altered and brecciated diorite and metasediments.
Additional internal zones of 9.14m @ 1.72g/t gold and 9.14m @ 1.99g/t gold, reinforce the continuity of mineralisation, while the narrower higher grade interval of 0.61m @ 10.29g/t gold suggests localised high-grade structures or shoots.
CEO Rob Clark says the Eldorado West Project continues to demonstrate “robust grades and significant scale”.
“We believe it remains in the early stages of growth,” Clark says.
“EC-06 materially supports a large, continuous mineralised system with internal grade variability, not just isolated high-grade hits. The combination of scale and embedded higher grade zones is what gives this real development potential.”
Ongoing activities
Core and lithology logging as well as processing is complete. Assays remain pending for holes EC-07 and EC-09 located in the Herman Area. Meanwhile, hole EC-08 is located in the Tyee Area.
Provenance Gold is continuing metallurgical testing and a soil sampling program has been completed, with results pending. The company anticipates to share further updates in the coming days, including intentions to conduct a maiden resource estimate for the project.
As part of an evolution in its operational strategy, Provenance Gold is transitioning to a structure that includes dedicated external logistical coordination. This will also include a team of internal geologists which will oversee areas of their highest expertise for optimal project advancement.
Further, Luke Schranz has resigned from his role as Vice President of Exploration.
Provenance Gold is a mineral explorer focused on its flagship Eldorado Project located in eastern Oregon, US.
Write to Aaliyah Rogan at Mining.com.au
Images: Provenance Gold
