Mentioned:
There is a promising gold project hidden in Oregon. And Provenance Gold is now cashed up to go explore it further.
What’s happening:
- Provenance Gold (CSE: PAU | OTCQB: PVDGF) has raised a total of approximately $2.4M CAD to advance exploration plans at their flagship Eldorado gold project located in Oregon
Why it matters:
- Gold exploration projects in the United States of America have been starting to heat up with the price of gold continuing to hit new all time highs, which has led to a renewed interest in early stage publicly traded precious metals companies
Going deeper:
- Provenance Gold recently confirmed that their first drilling target located at Eldorado contains gold mineralization that extends to depths beyond what was previously known and identified in historical resource estimates
- The Eldorado project was previously owned by a subsidiary of Gold Royalty (NYSE: GROY) before being optioned to Provenance Gold and has a historical resource estimate of two million ounces of gold
The intrigue:
- The demand for gold has been relentless in the public markets as well as for physical gold purchases, which has led mining giants such as Barrick Gold (NYSE: GOLD) to begin generating enormous revenue from their operations and retail conglomerates such as Costco (NASDAQ: COST) to even begin selling record breaking amounts of precious metals
