Business
Provenance Gold Updates Company Plans for 2022
Vancouver, British Columbia--(Newsfile Corp. - December 22, 2021) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the "Company" or "Provenance") is pleased t
About this update from Provenance Gold Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 22, 2021) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the \"Company\" or \"Provenance\") is pleased to provide an update on the focus of exploration priorities to our shareholders. The Company's current focus is the White Rock property and our recent acquisition, the Eldorado property, and these will be our priority in 2022. Both may contain significant tonnages of bulk mineable gold mineralization. The Eldorado property will receive early focus in 2022 as historic data suggests it could hold an up to multimillion ounce drilled gold resource. The Company is currently in an early stage of data acquisition, verification and compliance that will result in the completion of a NI-43-101 resource technical report. As part of this effort, a drill program that will focus on quality control, data validation and verification of historic assay results will be completed as soon as is practical. Field work will start in March weather permitting after the winter season. Drill permitting can then begin when the government agencies approving drilling applications have cleared the drill sites. This process is expected to take approximately 30 days. The Eldorado property is located in eastern Oregon near the Idaho border in mining-friendly Malheur County. Significantly, there is ongoing permitting for new mine development in close proximity to the Company's new acquisition. Provenance has consulted regulators regarding the Eldorado property and as a result of these discussions believes the Company will be successful in permitting the various stages of the project as the Company moves it forward. Provenance holds the right to acquire 100% interest in the Eldorado property, subject to a retained royalty to Nevada Select Royalty Inc. (\"Nevada Select\"). Nevada Select is an arms-length subsidiary of Gold Royalty Corp. (NYSE: GROY), a leading growth and Americas-focused precious metals royalty company. The right to acquire the Eldorado project was awarded to the Company by Nevada Select in large part due to the hard work and substantial progress made to date on the White Rock property in Nevada, USA. While Provenance already holds significant properties in Nevada, the Eldorado acquisition enables the Company to potentially develop its gold portfolio significantly in 2022. The...