Provenance Gold drills 89.92 metres of 0.45 g/t gold at Eldorado West, Oregon

Provenance Gold Corp. [CSE: PAU; OTC: PVGDF] reported the initial results of the first 10 reverse circulation drill holes totalling 2,548 metres of its continuing 2025 RC drilling program at the Eldorado West gold property, eastern Oregon. Assay results are currently pending for a further five holes totalling 843 metres.

Highlights: All 10 holes intersected gold mineralization, confirming broad, coherent and pervasive zones extending the open-ended gold mineralization from east to west over 800 metres, and identifying new mineralization in the previously untested area between zones 2, 3 and 4.

Drilling demonstrated broad shallow-dipping mineralization in laterally extensive sheets, punctuated by high-grade intercepts within steeply dipping structures that are likely to serve as feeder zones.

A second drill rig has been commissioned for the next phase of the drilling season, to enable selected core drilling to take place in addition to further RC (reverse circulation) drilling.

This initial stage of the drill program was designed to confirm the extent of gold mineralization within zones 1 through 4 in the Tyee area and demonstrate connectivity between these zones while trying to identify the feeder structures of the gold system. The new results expand the mineralized footprint over 800 metres of strike length across all four known zones, with multiple shallow-dip mineralized sheets that steepen toward the east, linking historic mineralized areas into a single, cohesive system. Subsequent drilling is planned to further evaluate and confirm this geological model.

Rauno Perttu, chairman, stated: “This project continues to experience significant growth. We were particularly pleased by the large intervals of open-pit grade mineralization shown in holes ED-16, ED-18, ED-19, ED-20 and ED-21 and the substantial open-pit grade mineralization close to surface in holes ED-12, ED-13 and ED-14. Our refined geological model, updated in light of early drilling results, indicates multiple high-grade feeder zones interconnected by open-pit grade mineralization, likely aligned along structural corridors. Equally compelling, in my view, is the deposit’s outstanding economic potential: widespread near-surface gold mineralization, minimal overburden and excellent metallurgical recoveries all point to robust margins. As we advance through the drilling season, I’m genuinely excited to continue to grow the project and explore these high-grade targets.”

Provenance has identified several new areas of stronger alteration and mineralization beyond previous drilling extents. These assay results support the model that broad and widespread mineralization occurs in repeating, gently dipping sheets punctuated by high-grade mineralization hosted within steeply dipping structures/zones that likely act as important mineralization pathways, thus providing considerable opportunity to extend the total footprint of mineralization in all directions.

Zone 1 and 2 drilling – ED-12: 0.54 g/t gold over 15.24 metres from surface and 0.50 g/t gold over 18.29 metres. ED-13: 0.52 g/t Au over 22.86 m from surface. ED-14: 0.54 g/t Au over 25.91 m from surface and 0.50 g/t Au over 3.05 m. ED-15: 0.46 g/t Au over 12.19 m and 0.26 g/t Au over 10.67 m and 3.55 g/t Au over 1.52 m. ED-16: 0.27 g/t Au over 117.35 m, including 0.39 g/t over 64.01 m and 1.85 g/t Au over 16.76 m. ED-17: 0.50 g/t Au over 10.67 m and 0.36 g/t Au over 9.14 m. ED-21: 0.45 g/t Au over 89.92 m, including 0.62 g/t Au over 51.82 m and 0.44 g/t Au over 7.62 m.

Holes ED-15, ED-16, ED-17 and ED-21 were drilled to the northwest in Zone 1 to test the continuity of the mineralization toward Zone 2 as well as a possible feeder zone fault zone. Both ED-16 and ED-21 reported strong mineralization; ED-16 extends the mineralization directly to the southwest by 125 m and ED-21 extends the mineralization 140 m to the northwest into a previously undrilled area, thus increasing the footprint of the mineralization significantly.

Holes ED-12, ED-13, ED-14 and ED-21 were drilled below of historic holes ED-04, EC-02 and EC-03 between high-grade zones 1 and 2, in an area that lacked known strong alteration or mineralization at surface. ED12-14 reported broad mineralized zones from surface with further zones encountered down dip in hole ED-12. ED-21 encountered broad mineralized zones down dip.

Zone 3 and 4 drilling: ED-18: 0.73 g/t Au over 47.24 m and 0.26 g/t Au over 172.21 m, including 0.39 g/t Au over 74.68 m. ED-19: 0.43 g/t Au over 53.34 m and 0.28 g/t Au over 109.73 m, including 0.44 g/t Au over 38.10 m. ED-20: 0.48 g/t Au over 48.77 m, including 0.94 g/t Au over 15.24 m.

Holes ED-18, ED-19 and ED-20 tested the previously undrilled area between zones 3 and 4. All three holes were mineralized identifying a potential broad shallow zones mineralization.

Following the recent approval by the Oregon’s Department of Geology and Mineral Industries (DOGAMI) of Provenance’s 17 additional drill locations, the continuing drill program will expand south to the Herman area testing the historic high-grade intercepts. Additional drill locations will continue developing the western portion of the Tyee area around Zone 4 and continue to prove up the continuity of the mineralization over the entire Tyee area.

A second drill rig has been commissioned to enable selected core drilling to take place in addition to further RC drilling.