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The property hosts a large gold system that is approximately 2 miles (3.2 km) long and 1 mile wide (1.6 km). Gold is found in the host rocks almost everywhere and elevated along and adjacent to large fault zones. Past exploration drilling only tested the structures, which returned excellent results but no infill drilling was conducted. Much of the central area of mineralization remains undrilled.
All past drilling was widely spaced with distances between holes ranging from 200 feet (66m) to about 900 feet (290m) and was open ended on trend. Current interpretation leads the Company to believe the property contains a large shallow gold system. The bulk grade of the mineral resource is comparable to currently operating large open-pit gold mines.
A review of 62 drill holes found 191 intervals that assayed between 0.01 opt Au (0.34 g) to 0.166 opt Au (5.7 g) over 10 to 95 feet. This spread suggests that numerous higher-grade zones will add to the overall grade. Properly planned drilling will find many more of these higher-grade zones.
The White Rock property consists of 258 claims covering 5,160 acres. Provenance has an Option to Purchase 100% for US$250,000 over 4 year option term. Advanced royalty payments set annually at US$25,000 after purchase completed with a 2% NSR royalty on production for the Vendor.
The property is located in a NW trending wrench fault system and is hosted in Permian cherts, limey cherts, and limey siltstones. The property features Graben and Horst blocks with Tertiary volcanics filling grabens, as well as an epithermal system with fracture controlled gold deposition. Sedimentary host rocks are silicified (jasperoids), limonitic and brecciated, with gold mineralization introduced during early structural development in stockworks in brittle zones. The nearest gold mine is Long Canyon (Newmont) which Provenance believes is in a similar geological setting.
Past work includes a total of 65 holes with an average depth of 388 feet (125m) and the deepest being 1,985 feet (640m). A sample of significant gold intercepts:
15 holes drilled with 8 ore holes, WR3 has highest grade intercept found (0.166 opt Au), open in all directions.
12 holes drilled, significant gold found, step outs required
Structural intersection, numerous ore holes, step outs required
6 holes drilled, drilled under structure and missed, major soil anomaly
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