A Gold Mine Where? Provenance Gold’s (CNSX:PAU) Project Sparks Big Plans | Midas Letter

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In this Midas Letter interview, Provenance Gold’s Rauno Perttu and Rob Clark dive into the latest developments from their promising exploration project in Eastern Oregon. This discussion sheds light on an unexpected mineralization discovery, drilling insights, and Provenance Gold’s strategic outlook for the project.

Drilling and Exploration Progress:
Rauno Perttu and Rob Clark from Provenance Gold discuss their ongoing drilling program, focusing on the mineralization at their site. They describe an unexpected discovery of gold mineralization in diorite rock, with significant geological findings that guide their exploration. They’re working to understand this unique mineralization pattern, which has been further exposed by recent surface changes (wildfire) in the area.

Geological Complexity:
The mineralization is located in diorite, a type of rock typically not associated with gold deposits. This diorite is affected by plate tectonic processes, specifically subduction, which has led to scattered gold distribution near iron-rich minerals.

Future Drilling Plans:
They plan to conduct additional core drilling to confirm these findings before beginning a more extensive drilling program in the spring, focusing on expanding known zones and testing new ones. They’re integrating data into a geological model to guide further drilling.

Funding and Strategic Financing:
Provenance Gold is funded through the current program and hopes to raise additional capital in the new year with minimal dilution. They are considering the timing and handling of outstanding warrants to maintain funding without negatively impacting stock value.

Regional Mining Climate:
They discuss Oregon’s mixed support for mining, with Eastern Oregon, where they are working, being pro-mining. The state’s stance aligns with local interests in job creation and economic development in the region.

Resource Estimates:
Rather than establishing an early 43-101 compliant resource estimate, they’re focused on expanding and understanding the system before finalizing numbers, emphasizing the project’s growth potential.