7RH1 “GR- FRANKFURT” Providence Announces STOCKPILE GOLD RESULTS up to 165 g/t Au
TSXV: PHD
January 25, 2021 USOTC: PRRVF
7RH1 “GR- FRANKFURT”
Providence Announces
STOCKPILE GOLD RESULTS
up to 165 g/t Au
Vancouver, B.C., January 25th, 2021 - Providence Gold Mines Inc. (TSX.V: PHD) (USOTC:
PRRVF) (7RH1 “GR- FRANKFURT”) (“Providence Gold Mines” or the “Company”) is pleased to
report stockpile percussion drilling assay results of up to 165 g/t Au.
Drilling results has verified that the stockpile contains a significant nugget effect along with lower
grading material. Metallurgy is now planned to determine the best design for gold recovery.
This is further to the news release of November 5, 2019 where assay results of up to 253.6 g/t were
announced from hand trenching of the Providence mine stockpile located in Tuolumne County,
California.
Dr. Lee Groat Ph.D. states “These results and the previously reported assay results of November
5th, July 19 and September 4, 2019 advances the support of the stockpile, and as well, verifies the
high-grade nature of the mineralization historically reported.”
Percussion drilling is a hammer drill that uses compressed air from down the hole to blow the
hammered material to surface it is known for poor gold recovery, however, it was considered the
most effective method of drilling the stockpile material.
The stockpile samples were tested by Bureau Veritas Minerals of Sparks Nevada, using 30 gm lead
collection fire assay fusion for total sample digestion with AA finish. All Au>10 ppm is automatically
analyzed by gravimetric method.
The processed percussion drill material was collected by Brian Ray PGeo under the supervision of
Dr. Lee Groat Ph.D the Company's Qualified Person. The material sampled was pulverised to a fine
dust size and blown to surface. Each sample taken was approximately 1.5 meters in length. Results
from the sampling program are reported as follows:
Assay Results:
The Company believes that the trenching samples taken by hand previously in 2019 represent an
enhancement in accuracy assay representation from that of those produced utilising the Percussion
drilling technique.
Previously reported Assay Results 2019:
Modeling of the stockpile is now underway as well as planned metallurgical studies.
Qualified Person:
Dr. Lee Groat Ph.D and Professor of Earth Science at UBC 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.
Click HERE To Watch "Drilling at the Providence Gold stockpile” Video
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President & CEO
Office: (604) 688-8200
Email: [email protected]
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www.ProvidenceGold.com
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 timing
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