Vancouver, British Columbia--(Newsfile Corp. - May 29, 2025) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the "Company" or "Provenance") is pleased to provide an update on its ongoing 2025 drilling program at the Eldorado Project, located in Malheur County, eastern Oregon. The initial phase of the program is focused on targeted infill and step-out reverse circulation (RC) drilling within the established mineralized system, with the objective of enhancing geological understanding and expanding the project's resource potential.
2025 Phase One RC Program Update
The first 2 RC holes (ED 12-13) have been completed, and samples are currently at the assay lab in Reno for processing. Hole ED-14 is currently drilled to 201 meters in mineralized rock. Results will be released when available.
The Company's initial RC drill holes are focused on expanding the known mineralization and improving the interpretation of key structures within the mineralized system (Figure 1-3). RC drilling is being used to test down-dip and lateral extensions of the mineralized structures, with step-outs of approximately 50 meters designed to evaluate both continuity and expansion potential.
This season's RC drilling, commencing with hole ED-12, follows up on the 2023 RC drilling program that drilled holes ED-01 to ED-11 and holes EC-01, EC-02 and EC-03 that were core holes drilled in the fall of 2024.
- ED-12: Designed to better define the structural orientation intersected in ED-04 and EC-03, this hole targets a position approximately 40 meters down-dip of previous drilling. Preliminary logging indicates a change in grain size within the diorite and a notable increase in pyrite concentration near the projected location of the targeted structure.
- ED-13: Based on encouraging visual results from ED-12, this hole is a planned 50-meter lateral step-out designed to test the extension potential of Zone 2.
- ED-14: Aimed at evaluating the northwest extension and assessing grade continuity along an interpreted structural trend identified during prior drilling.
RC drilling will continue with ED-15 designed to test the continuity between two key high-grade zones intersected by EC-01 and ED-04 followed by additional step out drilling.
Building on the success of the 2024 core drilling campaign, Provenance has confirmed a strong correlation between gold mineralization and fracture density within the host diorite. Zones of increased fracturing have enabled greater fluid flow, resulting in more intense retrograde alteration accompanied by higher concentrations of pyrite and gold. These highly fractured zones correspond with dominant northeast- and north-south-trending structural corridors-a structural framework further validated by recent high-resolution drone magnetic inversion data.
Mineralization at Eldorado is predominantly hosted in dioritic intrusive rocks, while flanking meta-sedimentary units, including graphite-bearing schists, remain largely untested. These units represent compelling exploration targets based on analogous systems in the region-including areas within Eldorado East-where similar lithologies have been shown to facilitate high-grade gold deposition.
Figure 1. Regional Plan Map of Drilling Area.
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Figure 2. Detailed Plan Map of RC holes.
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Figure 3. Cross Section showing targets.
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Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jo Price, P.Geo., M.Sc., a Qualified Person as defined under National Instrument 43-101.
About Provenance Gold Corp.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver mineralization within North America. The Company currently holds interests in Nevada, and eastern Oregon, USA.
Provenance is also active on social media and invites investors to follow us on X to stay up to date with our latest news and developments:
https://x.com/ProvenanceGold
For further information, please visit the Company's website at https://provenancegold.com or contact:
Rauno Perttu, CEO
rkperttu@provenancegold.com
1-541-930-0986
On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chief Executive Officer
Safe Harbor Statement: Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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SOURCE: Provenance Gold Corp.
