Providence Gold Mines Inc. (TSX-V: PHD)(“the Company”) is pleased to release updates on the remaining five holes in the Company’s thirteen hole first phase drilling program at its Providence Group of Gold Mines, located in the historic Motherlode Gold District of California, just to the east of the city of Sonora. The program was successful in intersecting the Providence vein system near surface and along strike in eleven of thirteen HQ core holes.
John Kowalchuck, P.Geo and VP of Exploration states “We are very pleased with the visual results of our first phase of drilling on this historic past gold producing Providence Gold Mine.”
This completes the first of a planned two-phase drilling program. Drilling has extended the zone to the north for a distance of 300 metres (1,000 feet) leaving an additional 1,000 metres (3,280 feet) strike length to the north end of the property where the Bonita adit is located. Samples are now being transported to Bureau Veritas Analytical Laboratory in Sparks, Nevada for analysis. The gold assay results will be released when they have been received. Once the results have been interpreted, the phase two drill program will commence.
Additional work is now underway to gain road access to the Mexican and McCarthy mines to the north of the completed phase one drilling. These two mines were only developed down to 100 feet (30 metres) and so have significant depth potential to the veins. Historical reports said that the two mines averaged five ounces gold per ton. Disclaimer: “This information is historical in nature and does not comply with 43-101 regulations and as such should not be relied upon.
This first phase of a two-phase drill program is the first ever completed at the Providence historical high grade producer.
A brief summary of the logged core which intersected the Providence vein system is as follows:
Drill Hole # 9 from 15.95 to 16.22m intersected a 0.22 m (0.72 ft) mineralized quartz vein.
Drill Hole # 10 from 28.50 to 28.96m intersected 0.46 m (1.51 ft) before hitting underground workings.
Drill Hole # 11 from 27.92 to 30.95m intersected 3.03 m (9.94 ft) quartz veining, first 35 cm is fault gouge.
Drill Hole # 12 intersected tunnel at 68.6 m.
Drill Hole # 13 from 45.0 to 45.8m intersected 0.8 m (2.6 ft) mineralized quartz vein.
John Kowalchuk, P. Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release.
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