Provenance Gold Announces Commencement of Drill Program on its Silver Bow Gold and Silver Property in Nevada
PROVENANCE GOLD CORP.
Suite 2200, 885 West Georgia Street
Vancouver, British Columbia, V6C 3E8
www.provenancegold.com
NEWS RELEASE
Provenance Gold Announces Commencement of Drill Program on its Silver Bow Gold and
Silver Property in Nevada
February 9, 2021 - Provenance Gold Corp. (CSE: PAU) (FSE: 3PG) (the “ Company” or “Provenance”) and
Palayan Resources, Inc. (OTC PINK: PLYN) (" Palayan") are pleased to announce preparation and
commencement of work for their initial drilling program on Provenance’s Silver Bow gold and silver
property in Nye County, Nevada. The drill rig is being mobilized following some clearing and road work
with drilling anticipated to begin by the end of the week. By funding this initial drilling program, Palayan
will earn a 49.5 percent interest in the Silver Bow project.
The Silver Bow project hosts a gold and silver system that extends across the five-kilometer length of the
property, with numerous small historic mines and prospects across the property. Provenance has
identified multiple targets on the property which hosts both open-pit and deep deposits of gold and silver.
Drilling will focus on a central portion of the property on which a small historic mine produced high-grade
gold and silver from a shallow vein . The vein is associated with thick zones of lower grade breccia
mineralization. Historically, miners produced extremely high -grade gold ores from veins on the claim.
Provenance confirmed this with random dump samples that returned 293 g/t Au, 12.4 g/t Au and 10.2 g/t
Au. The breccia portion of the target was tested in 1993 with three holes which returned typical intervals
of 45 to 82 meters of 0.13 to 1.03 g/t Au and 5.6 to 75.8 g/t Ag. No known historic drilling has occurred
on the high-grade vein zone.
The initial drilling program will be 20 reverse circulation holes from 12 locations that are spaced out along
the exposed mineralized ridge.
Rauno Perttu, CEO of Provenance, stated: “We are excited to initiate drilling of this property. We believe
the property hosts extensive open-pit and underground gold and silver mineralization. Our initial program
is designed to begin to define a portion of t he potential open-pit mineralization in the central portion of
the property. I have confidence in the success of our initial program and believe this is only the beginning
of an expanding successful exploration program.”
Rauno Perttu, P. Geo., a Qualified Person (as defined by National Instrument 43 -101), and the Chief
Executive Officer of the Company, has reviewed and approved the technical contents of this News
Release.
About Provenance Gold Corp.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver
resources within North America. For further information please visit the Company's website
at https://provenancegold.com or contact [email protected].
On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chief Executive Officer
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of this press release.
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Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words
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identify forward-looking statements or information. These forward -looking statements or information may relate to proposed
activities at t he White Rock gold project , and other factors 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 -
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