Acquisition Of Additional Land Position At La Dama de Oro Gold

VANCOUVER – Providence Gold Mines Inc. has staked an additional 100 aces of BLM land are contiguous and parallel to the existing La Dama de Oro Gold trend, thereby increasing the area of potential exploration targets.

The La Dama de Oro gold property was a historical high grade gold producer. The Company has all required permits for Water, Road, Environmental, Plan of Operations, Mill Site, including bulk sample. To date the Property has had no drilling or any modern-day scientific exploration and consequently has not developed or identified any potential NI 43 101 compliant resources. 

Ronald A. Coombes, President & CEO, said, “These 100 acres of newly acquired BLM ground provide excellent additional potential for discovery opportunity at the La Dama de Oro gold and silver property”.

The La Dama de Oro Property is in the Silver Mountain Mining District, within the structurally complex Eastern California Shear Zone and the intersection with the San Andreas Fault Zone. Bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic Sidewinder Volcanics. The structural geology of the region implies a sequence of compressional and extensional events that reactivated favorably oriented zones of weakness for the circulation of hydrothermal fluids. The main zone of mineralization is hosted by the La Dama de Oro Fault, a shallow northeast-dipping oblique-slip fault. The mineralization at the property is classified as a structurally controlled, low-sulfidation epithermal gold-silver vein system. Gold and silver mineralization is associated with multi-phase quartz veining, brecciation, and pervasive hydrothermal alteration along the La Dama de Oro Fault. The largest known vein is 4.5 feet at its widest point and remains open to exploration for over 6,000 feet of strike.