Providence Gold Exploration Update and Appointment Brian Ray M.Sc., P.Geo Head of Exploration and Development
Providence Gold Exploration Update and Appointment
Brian Ray M.Sc., P.Geo
Head of Exploration and Development
July 16, 2019 TSX-V PHD
Providence Gold Mines Inc. (TSX-V: PHD) (“the Company”) Providence Gold Mines Inc. (TSX-V: PHD)
(“the Company”) is pleased to announce further field evaluation on i ts Providence property in the historic
Mother Lode Gold District of California, just east of the city of Sonora. Described herein is the first phase of
a planned two-phase drilling program (the first drill program ever performed on this past historical high-grade
producer).
In addition, the Company is extremely pleased to have Mr. Brian Ray M.Sc., P.Geo., accept the appointment
as Head of Exploration and Development for the Providence group of Gold Mines. Mr. Ray has over 38 years
of exploration experience in North and South America, as well as in Europe. These include over 20 years as
a consulting geologist working with a variety of clients and focusing on field exploration work. He also played
a key role in the discovery and the advancement of se veral deposits including Hope Bay (12.3 million
ounces) gold deposit in the Nunavut, Canada, and the Toruparu gold deposit in Western Guyana where he
was responsible for preparing the first mineral resource.
Brian Ray states, “I have been involved in the development of several significant gold deposits in my
career. I have also visited the Providence group of gold properties, before accepting my appointment
as Head of Exploration and Development and I am ver y impressed with the geological setting and
with the properties’ historical production, which together give significant potential.”
Drilling Update
The first phase of the drilling program contained 13 HQ size core holes (Figure 1, Table 1) designed to test
south-central part of the vein system near-surface along the strike of over 300 meters, totaling 562 meters
of drilling. This has given the Company good confidence for the upcoming second phase of drilling.
Further evaluation of the drill core has identified several unsampled zones (figure 2) of significant alteration.
This core is being split and sent to the lab this week. The objectives of this additional sampling program are
to confirm that near surface zones of significant minera lization have gone undetected and to develop a
better understanding of the geological and structur al controls of the gold mineralization. The company
anticipates that our prudent geological understanding of the mineralization footprint and controls will lead to
new mineralized exploration targets near surface with t he expectation of expanding both the historically
mined mineralized zones and lead to the discovery of new zones of high-grade mineralization.
Five of the drill holes intersected the Providence trend, extending the zone by 100 meters to the north.
The drilling also intersected five near-surface anomalous gold targets.
(Figure 1) Drill Hole Locations Map
(Table 1) Table of Significant Drill Intersections
DDH
From
(m) To (m)
Length
(m) Au (g/t)
19-11 22.88 23.88 1.00 4.958
19-11 25.38 26.83 1.45 0.743
19-09 57.00 58.00 1.00 1.051
19-09 70.12 71.40 1.28 3.078
19-06 11.70 12.20 0.50 0.532
19-05 0.31 1.53 1.22 3.717
19-05 1.53 2.20 0.67 2.235
19-05 2.20 3.35 1.15 1.271
19-04 10.10 11.33 1.23 1.242
19-04 15.74 16.34 0.60 0.987
19-02 27.00 27.50 0.50 0.976
19-13 37.86 38.26 0.40 0.931
(Figure 2)
Un sampled core being split for assay
Discovery of Stockpile
Over the past few weeks, the Company sampled the periph eral south east side of the stockpile at a depth
of 0.5m on a grid with sampling stations approximately every 3m. The surface area of the stockpile was
approximately 50m by 50m square and appears to have a dep th of approximately 10m. The samples were
sent to Bureau Veritas Laboratory (Sparks, Nevada). Results are pending. Surface trenching and further grid
sampling continue this week. It’s worth mentioning that in the early 1900’s when historical production ceased
due to a dispute, the recovery technique in the milling process would have been via stamp mill crushing and
then processing that material through a sluice box. This method is known to have recoveries of below 50%.
Ronald Coombes, President & CEO states: “We are very pleased with our continued exploration
success, this week we begin trenching and sampling along strike towards a nearby cross structure
from our phase one three-meter HQ drill core intercept near surface. These cross structures appear
to be one of the controls for the mineralized shoot s. In addition, further evaluation of our new
discovery of the stockpile and potential it and other stockpile locations may yield continues” ,
Other Updates
While recently traversing to the McCarthy Mine through some very dense overburden, a historical mining
road in good shape was discovered which will greatly reduce our access costs to this area of the property.
Qualified Person
Mr. Brian Ray M.Sc., P.Geo Head of Exploration and q ualified persons as defined by NI 43-101, has
reviewed and approved the technical content of this press release.
We invite all shareholders and stakeholders to join the Providence Gold Mines portal on 8020 Connect. Join
here: http://b.link/Providence
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]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts r esponsibility for the adequacy or accuracy of
this release.