Historical Gold-Bearing Stockpile at the Providence Group of Gold Mines Much Larger than Initial Assessment
September 26, 2019
Providence Gold Mines Inc. (TSX-V: PHD) (“the Company”) further to its news release of September 16, 2019, the Company is pleased to announce that it has completed the second phase of mechanized trenching and sampling of its first of several potential gold-bearing historical stockpiles. A total of 86 samples were taken along a 74m trench at an approximant depth of one meter located down the center of the stockpile, perpendicular to the phase one trenches. These samples are now on their way to be tested by Bureau Veritas Minerals of Sparks Nevada.
Ron Coombes, President & CEO states, “The Providence Group of Gold Mines properties are in mining friendly Tuolumne County, California. Over the past six months Providence has had several very positive milestones. One ongoing significant event has been the positive gold assay results within just one of several potential gold bearing stockpiles. Preliminary review of this first stockpile of milled material continues and is significantly larger area than that initially reported.”
To delineate the area covered by the stockpile the Company commissioned and completed an airborne “LIDAR” survey along with a high resolution (0.5 m) surface image. The previously calculated area of the stockpile was 2,683 m2. As a result of the newly conducted work, the area is now measured to be 8,200 m2 with a depth on the SE side of approximately 15m and an approximate depth of 25m on the SW side. To accurately project the volume of the stockpile material ground penetrating radar is being planned.
The property contains at least 6 additional historically known gold deposits which ceased operations in 1916. The previous findings do not include several newly discovered surface gold geochem anomalies. The Company is preparing drill sites for the planned upcoming drill program.
Chain of Custody, Quality Control:
All sampling was conducted under the supervision of Brian Ray M.Sc., P.Geo Head of Exploration. Blanks and certified reference samples are inserted into the sample flow approximately every twenty samples. The samples are now on their way to Bureau Veritas Minerals of Sparks Nevada, for analysis using 30 g lead collection fire assay fusion for total sample digestion with AA finish. All samples assaying over 10 ppm Au automatically will be analyzed by gravimetric method.
Brian Ray M.Sc., P.Geo Head of Exploration and a qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release.
We invite all shareholders and stakeholders to join the Providence Gold Mines portal on 8020 Connect. Join here: http://b.link/Providence
ON BEHALF OF THE BOARD
Ronald Coombes, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Ronald Coombes
Mobile: 1 (604)724-2369
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release