Business
Providence Gold Mines Inc. Plans to Drill Gold Targets
(TheNewswire) VANCOUVER – TheNewswire - December 2, 2021 - Pro...
About this update from Providence Gold Mines Inc
[{"type":"text","content":"Providence Gold Mines Inc. Plans to Drill Gold Targets\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n VANCOUVER –\n \n \n TheNewswire -\n \n \n December 2, 2021 - Providence Gold Mining\nInc. (“Providence” or the “Company”) (TSXV:PHD\n \n \n )\n \n \n (OTC:PRRVF)\n \n The Company is pleased to announce plans to drill up to 4,000 meters\n(13,000+ ft) on its potentially significant gold targets.\n \n \n The drilling is subject to a unit financing of up to $1.3m CAD. The\nunit will consist of one common share at a price of $0.07 CAD with one\nwarrant exercisable at a price of $0.15 for a period of one year from\nthe date of closing. Commissions may be paid in the amount of 7% cash\nCAD and 7% brokers warrant exercisable at a price of $0.15 for a\nperiod of one year from the date of closing, subject to regulatory\napproval.\n \n \n The historic high-grade producer has sat idle since profitable mining\noperations ceased in 1916 due to a legal dispute, a wildfire, and the\npandemic of 1918. The property is located 40 minutes by road from the\nresource-friendly community of Sonora, California.\n \n \n Ron Coombes states “this is an exciting milestone for the Providence\nGroup of Gold Mines as it will be the first-time drilling has\nexploited the numerous past-producing and near-surface gold targets.\nWith as recently reported the McCarthy Mine returning assays of 75 to\n95 grams/t the Company now has a high degree of confidence to\nsuccessfully drill the significant numerous near-surface gold\ntargets.”\n \n \n To view our presentation, click\nhere\n \n \n .\n \n \n With the exploration groundwork completed and modeled for drilling and\na gold market which appears ready to explode the drilling for the\nfirst time of these numerous historic producing high-grade mines\noffers an excellent opportunity.\n \n \n Orogenic-type gold deposits are well understood and with the\nProvidence Group of gold mines having stope widths of 2 to 3 meters\nwhich historically reported multi ounce per ton material the\nCompany’s sampling results verifies the presence of high-grade\nmaterial within the numerous targets. We believe our timing could not\nbe better.\n \n \n \n STOCKPILE UPDATES:\n \n \n \n The Company previously announced plans to move forward with re-milling\nof our developed stockpile wh...