Gold in Stockpile Update
Gold in Stockpile Update
TSXV: PHD
August 12, 2020 USOTC: PRRVF
Providence Gold Mines “the Company” The Company has been in contact and has commissioned a local
drilling company located in Tuolumne, California to percussion drill approximately 300 meters within the
Providence gold in stockpile. The drill company made a site visit to evaluate the project last week and has
agreed that they are available to commence drilling by August or early September. Management is awaiting
an essential entry permit due to COVID 19 in order to meet in person with the drill company in the coming
weeks. The planned drilling is designed to produce a depth profile and evaluate the grade and volume of
material. The assay samples will be taken at five - foot (1.5 metre) intervals after which a full bulk sample of
all the material is planned to further determine the grade and best recovery method.
Summary of the Stockpile:
The previous success reported in the news release dated November 5, 2019, (assay results of up to 253.6
g/t) from its Providence mine, (one of several known stockpiles). Previous stockpile programs processed
material collected from a depth of approximately one meter over a total distance of 65 meters. The material
sampled was gravel size and each sample that was taken were approximately 1 meter in length for each
meter. Results from the sampling program as reported are as follows:
Assay results - Stockpile November 5, 2019
Sample# Wgt Kg Au (g/t) Sample# Wgt Kg Au (g/t) Sample# Wgt Kg Au (g/t)
2980516 1.55 0.01 2980541 6.63 3.36 2981026 4.48 0.19
2980519 2.05 0.20 2980542 4.79 0.94 2981027 6.10 0.84
2980520 3.46 5.27 2980543 3.43 0.75 2981028 3.91 0.28
2980521 3.58 2.02 2980544 4.49 2.39 2981029 4.49 0.97
2980522 3.55 34.50 2980545 6.15 2.00 2981030 5.54 0.04
2980523 2.20 0.07 2980546 3.98 1.50 2981031 2.92 1.04
2980524 3.19 3.30 2980547 4.93 0.65 2981032 3.98 0.04
2980525 2.16 1.95 2980548 4.86 1.75 2981033 6.36 0.11
2980527 1.17 1.30 2980549 5.08 2.00 2981034 6.32 0.12
2980528 1.47 0.10 2981015 3.53 1.20 2981035 4.67 0.01
Sample # Wgt Kg Au (g/t Sample # Wgt Kg Au (g/t) Sample # Wgt Kg Au (g/t)
2980529 4.88 3.13 2981016 4.05 0.02 2981036 7.33 0.01
2980530 2.89 2.17 2981017 1.69 94.10 2981037 3.46 0.51
2980531 4.20 1.78 2981018 1.58 2.90 2981038 5.60 0.06
2980532 5.11 3.76 2981019 1.37 17.60 2981041 3.11 1.02
2980533 4.72 1.01 2981020 1.54 253.60 2981042 6.60 0.59
2980534 2.83 1.50 2981021 3.15 0.03 2981043 5.91 0.48
2980535 1.92 5.38 2981022 2.21 0.15 2981044 8.45 1.00
2980536 3.86 5.42 2981023 2.05 3.41 2981045 6.41 0.17
2980538 4.72 2.61 2981024 5.60 3.15 2981046 6.02 0.05
2980539 5.28 1.59 2981025 5.32 1.73 2981047 9.20 0.04
2981048 8.77 3.78 2981050 5.17 0.02 2981457 4.66 0.03
2981049 5.28 0.03 2981456 6.27 0.28
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.
Brian Ray M.Sc., P.Geo. states , “ with the extremely encouraging previously reported assay results we
are now very enthusiastic to begin percussion drilling to advance the potential significant value contained
within the stockpile”..
The Company believes that the material represents all the historically milled material of the Providence mine
production. Historical mining recovery methods in 1916 were poor when compared to todays mining practice.
Qualified Person:
Brian Ray M.Sc., P.Geo. Head of Exploration and a qualified person (as defined under NI 43-101) has read
and approved the technical information contained in this news release.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald Coombes, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Ronald Coombes
Mobile: 1 (604)724-2369
Email: [email protected]
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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release