News Releases

Providence Gold Returns Positive Assays Results

September 4, 2019

Providence Gold Mines Inc. (TSX-V: PHD) (“the Company”), further to its news release of August 7, 2019, announces positive assay results received from one of several stockpiles. The stockpiled milled material collected from several years of historical mine operations that ceased in 1916 appears to be amenable to processing.

Brian Ray PGeo states:The initial results are extremely encouraging, as there is a potentially significant volume of material containing good gold values”

Given these recent assay results the Company is now confident that historically mined and milled material has not been re-processed and that the stockpile represents a significant potential cash flow opportunity for the project - especially given the current rising price of gold (see table 1) (table 2)

Trench assays results (Table 1) and (Table 2)                                    

Table 1

Sample

WGHT

Au

Length 32m

 

Sample

WGHT

Au

 

#

KG

(g/t)

Trench

 

#

KG

(g/t)

Trench

2981169

0.51

18.70

T1

 

2980298

0.54

1.159

T1

2981170

1.86

1.481

T1

 

2980299

0.62

1.927

T1

2981171

2.37

1.031

T1

 

2981051

0.34

0.319

T1

2981172

1.09

0.655

T1

 

2981053

0.72

1.566

T1

2981174

1.34

0.754

T1

 

2981054

0.62

1.417

T1

2981175

1.45

1.531

T1

 

2981056

0.70

1.583

T1

2981176

1.70

0.396

T1

 

2981058

0.67

1.773

T1

2981178

1.04

0.333

T1

 

2981059

0.71

3.425

T1

2981180

0.99

2.922

T1

 

2981060

0.46

1.656

T1

2981194

1.96

0.76

T1

 

2981061

0.52

1.407

T1

2980292

0.53

0.902

T1

 

2981062

0.66

0.666

T1

2980293

0.73

0.319

T1

 

2981063

0.66

1.893

T1

2980295

0.55

0.337

T1

 

2981064

0.44

1.145

T1

2980297

0.50

0.534

T1

 

 

 

 

 

Due to the specific mineralization grain size, the Company is now exploring sample size protocol for preparation screen size to 50 mesh in order to capture the full potential of the tested sample material. 

Table 2

Sample

WGHT

Au

Length 36m

 

Sample

WGHT

Au

 

#

KG

(g/t)

Trench

 

#

KG

(g/t)

Trench

2980252

1.21

2.015

T2

 

2980280

1.54

9.567

T2

2980253

1.39

0.448

T2

 

2980284

1.28

0.33

T2

2980254

2.81

0.732

T2

 

2980285

1.31

2.349

T2

2980261

1.54

4.632

T2

 

2980288

1.84

0.681

T2

2980262

3.57

3.772

T2

 

2980289

1.3

1.424

T2

2980271

2.18

3.133

T2

 

2980290

1.37

0.464

T2

2980275

1.87

0.363

T2

 

2980291

1.64

0.318

T2

2980277

1.67

9.224

T2

 

7

0.67

2.04

T2

2980279

1.21

0.308

T2

 

 

 

 

 

The samples were tested by Bureau Veritas Minerals of Sparks Nevada, using 30 gm lead collection fire assay fusion for total sample digestion with AA finish. All Au>10 ppm are automatically analyzed by gravimetric method.

The Company is continuing to evaluate the stockpile with the projection that deeper sections may represent earlier stages of the mine’s high - grade mineralization; with the ongoing objective being to design a projected grade and to establish best recovery methods.

Qualified Person

Brian Ray M.Sc., 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

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"
Ronald Coombes, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:  Ronald Coombes
Mobile: 1- 604- 724-2369
Email: info@providencegold.com

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


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