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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 3, 2017) – Providence Gold Mines Inc. (TSX VENTURE:PHD) (“Providence Gold” or the “Company”) is pleased to announce that a crew has been dispatched to the Providence Gold Mine property to immediately commence its first phase exploration program.
About the Property:
The Providence Gold Camp is located in the western part of the Motherlode gold belt near the town of Tuolumne, California. The property is an established historical gold producer, last worked in 1916. The Company believes that past production removed only a portion of the deposit which is recorded to have ceased during profitable mining operations in 1916.
The Providence vein system comprises a series of parallel steeply-dipping gold-bearing quartz veins emplaced in deformed and metamorphosed layered rocks of the Palaeozoic Calaveras Complex. The veins contain several steeply-plunging chutes of higher grade mineralization, at least three of which were the target of underground mining activity, and remain viable targets for renewed exploration.
The first phase program of surface and underground geological mapping and prospecting is designed to investigate the structural controls of mineralization. To facilitate the Company’s objectives, a program of surface and underground channel sampling together with detailed soil geochemistry is planned. The program will be supervised by senior company geologist David Visagie, P.Geo.
The Company is planning a modern 3D laser survey of accessible underground workings. This will be followed by structural mapping and sampling by geologist Gordon Gibson, P.Geo. The planned program is expected to be completed by the middle of September at which time follow up drilling is expected.
This news release has been reviewed and approved by Gordon Gibson, P.Geo., who is acting as the Company’s Qualified Person for the Providence property project, in accordance with regulations under NI 43-101 standards.
ON BEHALF OF THE BOARD
Ronald Coombes, President & CEO
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.
Thu, 03 Aug 2017 16:05:22 GMT