Provenance Gold drills 19.81 metres of 5.94 g/t gold at Eldorado Project, Oregon
Provenance Gold Corp. [CSE: PAU; OTCQB: PVGDF] released assay results from the third hole of the company’s first step-out drilling in the Herman area at its Eldorado gold project in eastern Oregon.
Highlights: ED29: 1.56 g/t gold over 254.51 metres from surface and ending in mineralization, including 2.84 g/t gold over 42.67 metres, including 9.8 g/t gold over 6.10 metres. New mineralized zone: 5.94 g/t Au over 19.81 metres, including 20.33 g/t Au over 4.57 metres.
Hole ED29 was drilled southwestward from the Herman area into a previously undrilled region, approximately 50 m to the south of ED27. ED29, hosted in both diorite and mixed metasediments, exhibited strong gold mineralization throughout its entire length and ended in strong mineralization at a depth of 254.51 metres. ED29 continues to expand a new feeder zone found 800 metres to the south of Zone 1, additionally discovering a new high-grade zone at its southernmost extent, which is believed to be part of a new feeder system.
Drilling is continuing with assays from seven RC (reverse circulation) holes pending from zones 3 to 4 in the Tyee area and the Herman area. At Herman, the drilling tests the newly discovered mineralized contact zone between the diorite intrusive complex and the host metasedimentary rocks. In addition, three diamond core holes are pending in the Herman Area with a focus on extending mineralization towards the south and southwest. All mineralized zones at Eldorado West remain open in all directions.
Provenance chairman Rauno Perttu stated: “Hole ED29 is a pivotal hole in this step-out program. We’ve already demonstrated that gold is prolific at Eldorado West over a large area. We are confident much more mineralization exists within both the previously explored area and within this large new unexplored region. I’m excited because I think the gold system appears to be strengthening into this broad, unexplored area with no outcrops or prior exploration. Historic gold mining of locally derived placer gold along its borders to the south and west and our geophysics and geochemistry support our belief that the gold system continues and potentially strengthens into this unexplored area. We have just scratched the surface of this amazing property, and we haven’t even begun tackling Eldorado East yet.”
The current geological model suggests that mineralization extends much farther to the south and southwest of the Herman area, which was overlooked in historical exploration due to the minimal surface bedrock exposures and historic lack of understanding of the overall project geology.
Drilling with both the RC and diamond core rigs continues to test these areas and aims to expand and infill the known footprint of the gold system at Eldorado West. In addition, permitting is continuing for new drill sites at both the Eldorado West and Eldorado East to allow for much further expanded drilling of the system in 2026.