Providence Gold Mines Inc. Update
May 18, 2021 - Providence Gold Mines "the Company", (TSXV:PHD), (OTC:PRRVF), is pleased to update on its continued progress since April 27, 2021 where the Company reported successful results of the bulk sampling and processing test work of its first of several gold bearing stockpiles of material within the Providence Group of Gold Mines. The Company's Qualified Geologists arrived on the Providence property on Monday to further sample potential extensions of the first stockpile and examine and sample the numerous other potential stockpiles of material within the property.
Big Rock Consulting has informed the Company that they have sourced available mills for consideration and a full evaluation is now underway.
Whilst on the property further evaluation of the modeled hard rock targets identified and developed from the six hundred (600) level to surface using state of the art 3D LIDAR technology for survey and surface mapping, grid sampling and a surface core drill hole program designed to understand the orientation of the strike and dip of the main vein structures.
The above program resulted in the commission of a high-resolution airborne survey of the entire property. The interpretation of all this data enabled the production of an accurate model to drill both beneath and between the known deposits from the existing road network. The current exploration program is focused on delineating prospective new targets between these known mineralized structures for diamond drill testing.
Qualified Person:
David Turner P.Geo. is the Company's qualified person (as defined under NI 43-101 and
has read and approved the technical information contained in this news release}.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President & CEO
Office: (604) 688-8200
Email: info@providencegold.com
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www.ProvidenceGold.com
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Providence Gold Mines, budget and timing estimates, the Company's working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company's properties, are forward-looking statements. Forward- looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward- looking statements. Important factors that could cause actual results to differ materially from Providence Gold Mines expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release