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Providence Gold Mines Provides Phase I Exploration Update; Channel Samples Assay 1.3 Metres of 45.64 g/t Gold
VANCOUVER, British Columbia, Sept. 25, 2017 (GLOBE NEWSWIRE) -- Providence Gold Mines Inc. (TSXV: PHD) ("Providence" or the "Company") is pleased to announce on
About this update from Providence Gold Mines Inc
[{"type":"text","content":"VANCOUVER, British Columbia, Sept. 25, 2017 (GLOBE NEWSWIRE) -- Providence Gold Mines Inc. (TSXV: PHD) (\"Providence\" or the \"Company\") is pleased to announce ongoing success on its Phase I exploration program at the company’s Providence Gold Mine property. “We are very pleased with the initial results from this first phase of exploration at the Providence Gold Properties,” said Ron Coombes, President & CEO of the Company. “It is amazing that this historical past producing high grade gold property has been idle for 100 years. With modern day exploration methods we believe the Providence Gold Properties are a significant untapped opportunity. The gold targets are now identified and we look forward to the commencement of drilling.” Stage 1 Exploration Program In August, 2017 the Company initiated a Stage 1 program designed to investigate the structural controls to the gold mineralization. To facilitate the Company's objectives, a program of geological/structural mapping and underground channel sampling together with detailed soil geochemistry and an underground 3D laser survey was undertaken. A limited number of continuous saw-cut and rock chip samples were taken in the accessible underground workings at the Providence Mine and Consuelo workings. Due to limited access the work was completed mostly within the 1.6 km (one mile) drift on the 600 foot Level. Rock chip sampling, completed along the access drift and the stopes reinforced the historical reports of high grade shoots occurring within the mine. Sampling of the North Ore Shoot outlined an approximately 80 metre long section in which highly variable gold values occur. The section corresponds to an area of historic stoping completed on the level in an area referred to as the “North Ore Shoot”. Within the stope, samples were collected of the quartz veining along a pillar and from both the foot and hanging walls. The results show high grade, greater than 5.0 gpt (grams per ton) Au to occur within narrow up to 2.20 metre wide quartz veined zones, with the wall rock values generally being less. Within the historically mined stope area, 46 rock chip samples were collected. Values range from less than 0.020 gpt Au over 1.50 metres to 1.3 metres assaying 45.64 gpt Au. Of the 46 samples collected 18 samples assay...