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An announcement from Providence Gold Mines Inc ( (TSE:PHD) ) is now available.
Providence Gold Mines has completed the first stage of stockpile and underground sampling at its La Dama de Oro gold and silver property southeast of Ontario, California, aiming to define the best material for a permitted 1,000-ton bulk sample. The program included continuous trench sampling of unprocessed rock piles and channel sampling across the full width of the Mojave Girl Vein at its lowest mining level to test extensions of historic high-grade ore.
Management reports that accessible underground lode zones display characteristics similar to well-known orogenic gold systems in northern California, and that both E-W and N-S trending lodes, along with newly identified sheeted vein stockworks, present strong exploration targets. Samples have been delivered to an assay lab in Nevada, and with permits already in place for key operational elements, the results could shape resource delineation and the next phase of work on this under-explored, historically productive gold system.
More about Providence Gold Mines Inc
Providence Gold Mines Inc. is a Canadian mineral exploration company focused on advancing historic high-grade gold and silver properties. Its current flagship asset is the La Dama de Oro project in southern California, where the company is targeting orogenic gold-quartz vein systems and pursuing permits to support bulk sampling and potential future development.
Average Trading Volume: 62,742
Technical Sentiment Signal: Sell
Current Market Cap: C$2.61M
See more insights into PHD stock on TipRanks’ Stock Analysis page.