Provenance Gold Corp.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
Suite 2200 – 885 West Georgia Street Vancouver, BC Canada V6C 3E8 |
| Tel No.： | 1-541-930-0986 |
| Web Site： | https://www.provenancegold.com |
| E-mail： | email@provenancegold.com |
| Contact Person： | Rob Clark |
| Position： | President |
| Traded Market： | CSE | OTCQB |
| Traded Symbol： | PAU | PVGDF |
| Outstanding Shares： | approx. 138.88 million |
| 52 Week High： | $ 0.405 |
| 52 Week Low： | $ 0.07 |
| Present Price： | Click Here |
Provenance Gold is a precious metals exploration company with a focus on gold and silver mineralization within North America. The Company currently holds interests in Nevada, and eastern Oregon, United States.
Eldorado Project, Oregon
Project Overview
The Eldorado Project is a district-scale land position totaling 7,915 acres (32.03 sq. km) located approximately 60 kilometres (38 miles) northwest of Vale in Malheur County, Oregon. The property hosts a pre-43-101 non-compliant resource estimate of 1.98M oz at 0.753 g/t gold. The large-scale surface mineralized system remains open in all directions.
The project benefits from excellent nearby infrastructure, road accessibility, and federal support, with the Grassy Mountain project, located just 35 km away, included under the FAST-41 permitting initiative.
The project consists of the Eldorado West and Eldorado East properties, both of which feature highly prospective geology and concise resource targets.
Eldorado West
- Historical pre-43-101 non-compliant 2 million oz gold resource estimate at 0.75 g/t gold
- EC-01: 288m at 2.01 g/t gold from surface including 175m at 3.07 g/t gold
- Over 24,000 meters of drilling completed historically and by Provenance
- Strong metallurgical recovery demonstrates the project is amenable to heap leach extraction and gravity / flotation
- Tremendous expansion potential – both laterally (+1000m) and to depth
- Reverse circulation drilling underway with core drilling program planned for July
- Provenance holds a binding option to purchase the property from Nevada Select Royalty Inc. (“Nevada Select”). Nevada Select is an arms-length subsidiary of Gold Royalty Corp. (NYSE: GROY).
Eldorado East
- Historical pre-43-101 non-compliant resources: Sunday Hill: 170,000 oz+ at 23.15 g/t gold; Randall Mine: 50,000 oz+ at 8 g/t gold
- Recently staked 4,529 acres of BLM land on-trend
- Ground-work, sampling and drill permitting underway
- Expected to be permitted and ready to drill by the fall
Sunday Hill (Eldorado East)
- The historical Sunday Hill mine was drilled and re-evaluated by Capri Resources in the 1980s.
- Capri reported a near-surface gold-bearing zone averaging 23.15 g/t gold with a historical resource of 231,000 tonnes.
- The zone was reported to be within 10.7 metres of the surface, 7.6 metres thick, widening to 18.3 metres at its deepest underground exposure, 61 metres downdip (Hogg, 1927).
- The gold horizon remains open in all directions (Castleon summary report, 1993).
Mormon Basin (Eldorado East)
- The Mormon Basin extends across much of the Eldorado East property
- Hosts numerous historic high-grade lode and placer gold mines dating back to the late 1800s and early 1900s
- Has seen very little systematic or modern exploration
- Provenance believes the near-surface historical gold mineralization in and around the Mormon Basin is part of a potentially large bulk gold system that includes both the original Eldorado and the new Eldorado East expansion
- Provenance has begun initial ground truthing, data compilation and review work.
2023 Exploration (Eldorado West)
- Consisted of 11 holes totaling 1,446 meters with all holes intersecting significant gold mineralization and many ending in mineralization within geological breccia zones
- Confirmed historical assays allowing for additional confidence in historical work
- Identified a thick, newly recognized zone of higher-grade gold mineralization that starts below the reach of historical drilling and is evidenced by higher-grade gold intervals
- 2023 drilling highlights (Holes ended in strong mineralization):
- Hole ED-03: 140.208 metres of 1.15 g/t gold;
- Hole ED-04: 137.160 metres of 1.639 g/t gold;
- Hole ED-07: 114.3 metres of 3.085 g/t gold;
- Hole ED-11: 118.872 metres of 3.278 g/t gold.
2024 Core Drilling (Eldorado West)
EC-01 Highlights
- EC-01 was drilled to a total depth of 338.18m, returning 2.01 g/t gold over 288.34m from surface including 3.07 g/t gold over 175.26m
- Extends the upper zone from ED-07 and central zone from ED-11 and discovered the new lower zone
- Significant mineralization from surface
EC-02 & EC-03 Highlights
- EC-02 intersected 156 meters that assayed 0.501 g/t gold including 32 meters of 0.94 g/t gold.
- EC-03 intersected 154 meters of 0.8 g/t gold, including 13.7 meters that assayed 3.02 g/t gold and 12.2 meters containing 2.57 g/t gold, which represent new high-grade zones. This newly recognized higher grade area is open both down dip and in both directions.
- The results from EC-02 and EC-03 are consistent with the presence of the broad mineralized zone found in RC hole ED-04 and support the model that the NE-SW mineralized structure is a significant gold bearing structure, punctuated with multiple higher-grade intervals.
Provenance has commenced a staged 10,000+ meter RC and Core drill program at Eldorado in April, 2025, to confirm and expand the mineralization in historical drill areas and in additional key target areas identified during 2023 and 2024 field work.
Management and Directors
Rauno Perttu, Chairman & Chief Executive Officer
Mr. Perttu is a registered professional geologist whose experience spans more than 40 years covering all aspects of mineral development throughout North, Central and South America, and Australia. Mr. Perttu has participated in all phases of project development from initial concept through exploration, discovery, feasibility, development and operations at senior management levels. He holds B.A. and MSc degrees in geology and is a registered engineering geologist in Oregon.
Rob Clark, President
Mr. Clark is a driven entrepreneur and venture capitalist with over 25 years of business experience within both the private equity markets, and domestic and international equity markets. He has been a part of numerous transactions including mergers, acquisitions, company buyouts, public offerings, financing and restructurings. Mr. Clark has an extensive understanding and hands on ability in business and management consulting and is knowledgeable in all areas of private and public company operations.
Thomas Martin, Director
Mr. Martin has been an athlete all his life and was awarded a full ride scholarship to the University of Denver where he continued his hockey career. After his hockey career wound down, he ventured into business and finance where he has managed and invested in several successful businesses over the years. Mr. Martin has also utilized his sports and media ties domestically and internationally to raise capital for both private and public corporate entities.
Fiona Fitzmaurice, Chief Financial Officer
Ms. Fitzmaurice is a chartered professional accountant with extensive experience in accounting, financial controls, corporate audits, private placements, and corporate acquisitions.
Advisory Board
Jo Price, M.Sc., MBA, P.Geo., Technical Advisor
Mackenzie (Mac) Watson, Senior Exploration Advisor
Andy Bentz, Advisor, Oregon Specialist
Jeffrey Alam, Senior Strategic Business Advisor
On June 27, 2025, Provenance Gold Corp., due to strong investor interest, is upsizing its previously announced non-brokered private placement.
The private placement will now consist of up to 10 million units at a price of 20 cents per unit for gross proceeds of up to $2-million. Each unit will consist of one common share of the issuer and one-half of one transferable common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share at a price of 25 cents for a period of three years. Subject to regulatory approval, the company anticipates the closing of the placement within the next two weeks.
The company intends to use the net proceeds of the offering for advancing its Eldorado project in eastern Oregon, with a systematic RC (reverse circulation) drilling program currently under way in addition to working capital and general corporate purposes.
On June 23, 2025, Provenance Gold Corp. has provided an update from its continuing RC (reverse circulation) drilling program at its Eldorado West gold property in eastern Oregon.
2025 RC drill program update at Eldorado West:
The first five RC holes (ED-12 to ED-16) have been completed, and samples are currently at the assay lab in Sparks, Nev., for processing. Hole ED-16 was just completed to a depth of 274 metres. RC drilling is continuing with ED-17. Holes (ED-15 to ED-17) are designed to test the area of the Tyee area that has been virtually unexplored with the potential to link the mineralized system between hole EC-01 and hole ED-04. Visual observation of holes ED-15 and ED-16 in this new area suggests they are mineralized and to depths greater than previously tested. The 2025 RC drilling program thus far has been efficient and on budget, with holes achieving the targeted depths.
Rauno Perttu, chief executive officer, stated: "We are excited about our drilling to date with this program and the visuals we have encountered. Mineralization at previously untested depths and extent has the potential to increase the volume of this system extensively."
Assay results will be released when available and will help to guide the continuing program.
June 4, 2025, Provenance Gold Provides Field Update from Sunday Hill, Eldorado East
Eldorado East highlights:
- Provenance’s geologists verified that the host rock for the historical high-grade deposits at Sunday Hill is a mixture of the highly altered and fractured Burnt River schist black shale and diorite similar to that seen mineralized at Eldorado West.
- Thirteen initial samples were collected at several locations along the Sunday Hill ridge, where mineralization was evident. These samples included three-metre-long stretches of surface material and selected rock samples to begin to determine the gold content of different types of altered rock. Results will be announced when received.
- Black carbonaceous shale likely triggered rapid precipitation of the gold from thermal solutions emanating from the large body of diorite centered a short distance to the north. The thermal solutions would have used the abundantly fractured contact area between the black shale and the diorite as a very favourable dumping area to deposit the precipitated gold in high-grade deposits. As a result, the unexplored contact area between the diorite and black shale at Eldorado West will continue to focus future work.
- Company geologists confirmed historical lode prospects and mines dot the newly staked landscape and that the valley bottom and many upland areas in the Mormon basin have been placer mined and re-placer mined, perhaps more than twice. Given the ground topography, there are likely multiple sources for the placer gold, including sources under the placer deposits.
May 29, 2025, Provenance Gold Corp. has provided an update on its continuing 2025 drilling program at the Eldorado project.
The first 2 RC holes (ED-12 and ED-13) have been completed, and samples are currently at the assay lab in Reno for processing. Hole ED-14 is currently drilled to 201 metres in mineralized rock. Results will be released when available.
May 8, 2025, Provenance Gold Substantially Expands Its Eldorado Footprint Creating a District Scale Opportunity and Acquires Historical High-Grade Prospects within the Land Package