Provenance Gold (CSE:PAU) has begun a phase one reverse circulation drilling program at the Eldorado Project in eastern Oregon, US, atop of an established 241 historical drillholes and a positive recent assessment of the area.
The follow up phase will focus on expanding the open-ended gold system and comes on the back of an initial drilling in 2023-24 that uncovered an area of strong mineralisation previously recognised in the Eldorado area.
The newly identified area contains widespread gold mineralisation that begins at surface and extends to more than 200m in depth and remains open.
CEO Rauno Perttu says this is the largest exploration program to date at Eldorado.
“At Eldorado, our drilling will look to expand the extent of known mineralisation, but also explore several key stepout target areas that are up to or more than a kilometre away from our EC-01 discovery hole,” Perttu says.
“Not only was historical drilling very shallow, averaging 90 to 100m in depth, but most of the property still remains virtually untested. Because of our upcoming drilling and other activities, I believe 2025 will be a pivotal year for our company.”
The Eldorado Project, located 60km northwest of Vale, contains a non-compliant resource estimate of 1.98 million ounces @ 0.753 grams per tonne gold.
Provenance Gold is a precious metals-focused explorer with three projects in the US. The company’s asset portfolio includes the Eldorado, White Rock, and Silver Bow projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Provenance Gold
