Eldorado Property Survey To Pinpoint Additional Drilling Program Targets

VANCOUVER - Provenance Gold Corp. announces that a drone-based airborne magnetic survey is commencing at its Eldorado property in eastern Oregon. The survey is designed to further refine the understanding of mineralized structures at Eldorado and to uncover additional property-wide exploration targets using the resultant 3D voxel model to be generated from this data. The strong correlation between highly mineralized drill holes, magnetic and IP data suggests that a high resolution 3-D magnetic survey will be a very valuable tool to assist in accurately defining drill targets.

"We are excited to expand our exploration efforts with the upcoming airborne magnetic survey," said Rauno Perttu, CEO, with areas of strong mineralization and specific magnetic characteristics. Large untested regions display these magnetic characteristics. This survey will cover the entire property, helping to pinpoint additional targets and improving the precision of our drilling program."

The Eldorado project hosts a large structurally controlled gold system, currently defined by 241 historic drill holes and 14 drill holes by Provenance. The gold system remains open in all directions. Gold mineralization at Eldorado is primarily associated with an altered diorite intrusive, with historic regional magnetic surveys demonstrating a strong correlation between mineralization and magnetic destruction caused by mineralizing fluid flow. Provenance's recent Induced Polarization (IP) survey, along with historical regional magnetics, has highlighted structural pathways for the mineralizing fluids.

This year's staged 10,000+ meter RC and core drilling program will focus on expanding and infilling known mineralized areas while also conducting a major step-out program to explore new areas beyond previous drilling identified through geological mapping, prospecting, and geophysical and LiDar surveys.