Business
Provenance Gold Announces Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2021) - Provenance Gold Corp. (CSE: PAU) (FSE: 3PG) (OTCQB: PVGDF) (the "Company") is pleased to announce
About this update from Provenance Gold Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 3, 2021) - Provenance Gold Corp. (CSE: PAU) (FSE: 3PG) (OTCQB: PVGDF) (the \"Company\") is pleased to announce the following corporate update on its three gold and silver exploration properties located in Nevada, USA. The Company's focus in Nevada is based on several key factors: Nevada is a significant gold producer with a history of major gold discoveries. Many new discoveries are still being made. Nevada has a stable pro-mining environment. Most mines in Nevada are large open-pit mines with low grade but very economic ores. Exploration for this type of ore deposit is ideal for junior mining companies because shallow reverse circulation (RC) drilling is fast and inexpensive. Provenance's geologists are experienced, with a history of discoveries, including successful exploration in Nevada. Provenance's exploration manager for Nevada has managed the drilling of more than 120 projects in Nevada and has been involved in several major discoveries in the state. Provenance's experienced geologists have acquired three strong Nevada properties, and hope to turn these properties into potential new discoveries. With its recent funding, the Company is entering a key new stage in its growth into a successful precious metals company. The recent funding has already allowed an initial drilling program on its first project, the Silver Bow property, with drilling planned to start on its second project, the White Rock property, in early June. The Company's three properties are outlined below. Silver Bow The Silver Bow gold and silver property is located in Nye County, Nevada, about 40 miles east of the historic mining town of Tonopah. The Silver Bow property contains several strong exploration targets, for both bulk-tonnage and high-grade gold and silver. The property has several defined drill targets. The primary target on the property is a mineralized twin flow-dome complex that Provenance believes may host a high-grade vein system at depth. This dome complex additionally contains a large breccia zone that is exposed on its north flank. Most surface samples of this breccia assayed potentially economic values in gold and silver, suggesting an open pit deposit. Because it is private property that did not need permitting, the Company's first drilling program was on its Blue Horse claim about fo...