Vancouver, British Columbia--(Newsfile Corp. - October 18, 2017) - Provenance Gold Corp. (CSE: PAU) is the latest new listing on the Canadian Securities Exchange, trading under the symbol "PAU". The company is involved in mineral exploration in Canada, and has an option to acquire the 2K Gold Property, located in the Moosehorn Range in the western Yukon.
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The 2K Gold Property covers a standalone highly mineralized area situated in the prolific gold region of Yukon, Canada. It is an emerging gold camp of which Provenance has a prime land holding directly west of the White Gold District within the Tintina Gold Belt. Provenance Gold holds the option on the mineral rights amongst the only substantial placer camp discovered in Yukon since the 1940's.
A review of the first lode gold target strongly suggests the mineralization has a width of at least 750 meters and a length of several kilometers. The mineralization also appears to have significant thickness in repeating layers. Based on the large extent of the first mineralized area, Provenance believes the gold system is large.
The company is actively exploring this camp and region with the hope of proving up this promising new discovery as plans for an extensive exploration and drilling program for the spring and summer of 2017 are underway. For more information on the property, please refer to the NI 43-101 Technical Report filed on Sedar.
The company recently closed a non-brokered private placement, raising gross proceeds of $328,000 through the issuance of 2,188,000 units priced at $0.15 per unit, with each unit consisting of one share and one-half a warrant, with each full warrant exercisable at $0.30 for 24 months.
The shares are currently trading at $0.25, and with 27.1 million shares outstanding, the company is capitalized at $6.8 million.
For more information please visit the company's website www.provenancegold.com, or contact Rob Clark, President and CEO, at [email protected].
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