7RH1 “GR- FRANKFURT” Providence Gold Mines Surface sample returns Greater than 10 grams Gold
TSXV: PHD
July 20, 2021 USOTC: PRRVF
7RH1 “GR- FRANKFURT”
Providence Gold Mines
Surface sample returns Greater than 10 grams Gold
July 20, 2021 - Providence Gold Mines “the Company” (TSXV:PHD) (OTC:PRRVF)
(FSE:7RH1) is pleased to announce that a rock sample found across the creek from the
Bonita Mine returned 10 grams Au/tonne. Further work is now underway to locate the source.
A carbonate- sericite alteration bloom and vein quartz has been discovered on the north side
of Duckwall Creek and is the potential twin of the Bonita Gold ore shoot. A high-grade
selected sample returned > 45gm/tonne Au from a small rock pile well above the flood plane
on this north side. The northern projected strike extension of the Bonita Lode is located in a
recessive topographic feature which forms the steep northern side of this drainage extending
to the ridge top.
The rock samples were transported and tested by Bureau Veritas Minerals of Vancouver, B.C.
using 30 g lead collection fire assay fusion for total sample digestion with AA finish. As the
sample returned Au >10 ppm (10gm Au) it is being further analyzed by gravimetric method.
In addition, the current field program has made another new discovery of vein outcrop. During a
traverse down slope from the McCarthy mine the Lode zone steeply dipping NE and is
approximately one metre in true width. The zone appears to be along strike between the
McCarthy and the Fairplay mines. A channel sample will be shipped for assay to Bureau Veritas
this week.
A picture of the Lode zone
Excavator Update
The Company reports further to its news release dated June 7, 2021 that the “Spidex” excavator
contractor arrived onsite yesterday. The purpose of the excavator program is to trench and
sample the recently announced gold discoveries on its Providence Group of Gold Mines Property
located nearby the City of Sonora, California.
Qualified Person:
Dr. Lee Groat Ph.D., P.Geo is the Company’s qualified person (as defined under NI 43-101 and
has read and approved the technical information contained in this news release). Mark Payne
P.Geo is registered in the State of California is working under the direct supervision of Lee Groat
QP.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald Coombes, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Ronald Coombes
Office: (604) 688-8200
Email: [email protected]
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events
or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including,
without limitation, statements relating to the permitting process, future production of Providence Gold Mines, budget and tim ing
estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization
potential of the Company’s properties, are forward-looking statements. Forward- looking statements are subject to business and
economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained
in the forward- looking statements. Important factors that could cause actual results to differ materially from Providence Gold Mines
expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results
and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the
exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop
properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development
programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other
governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements
are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by
applicable securities laws. Investors should not place undue reliance on forward- looking statements.
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