Providence Gold Mines Inc. is happy to report it has completed and filed on SEDAR an updated NI 43-101 Technical Report for its high-grade gold Motherlode Providence Gold Mines property situated near Sonora, California. The following encapsulates the report findings.
The Company’s 2017 exploration program has verified that the Providence Gold property hosts significant high-grade shoots of orogenic gold mineralization and we are excited about the planned upcoming core drill program.
Ron Coombes, President and CEO
In 2017, a program consisting of soil sampling, surface and underground mapping and rock chip sampling was undertaken with the purpose of describing the vein systems and locating areas of gold mineralization. The underground work was limited to the Sixth Level. The Sixth Level extends as a drift from the Providence Mine through the Consuelo Zone eventually accessing the surface.
Even though there are several historical former producing gold mines on the property, the available data is inadequate and as such the Providence Gold Property is classified as an early stage exploration prospect. Reports mention that there are areas in the Bonita-Consuelo and Providence Mines hosting probable resources. The only method to establish whether there are any resources will be through drilling.
In the company’s opinion, the Providence Gold Property hosts many vein systems that in the past were creating high-grade gold mines. The 2017 exploration data reveals that the vein systems host shoots of high-grade material that, according to the historical records are open at depth. The work finished in 2017 outlined some areas of interest that can only be tested by drilling. Furthermore, the soil sample survey outlined areas of interest requiring extra mapping and sampling before drilling.
Dave Visagie, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news report. Mr. Visagie is a senior geologist consulting to the company.