Provenance Gold Corp.
Provenance Gold’s 2K Gold Property covers a standalone highly mineralized area situated in the prolific gold region of Yukon, Canada. It is an emerging orogenic gold camp of which Provenance has a prime land holding directly west of the White Gold District within the Tintina Gold Belt. Provenance Gold Corp holds the option on the mineral rights amongst the only substantial placer camp discovered in Yukon since the 1940’s. Provenance Gold is actively exploring this camp and region with the hope of proving up this promising new discovery.
In 2015, in anticipation of stronger gold prices in the medium term, the founders of Provenance Gold Corp conducted an evaluation of gold properties with strong mineralization and major size potential with a focus on North America.
After sifting through and visiting a number of selected properties, a founder of Provenance Gold Corp was made aware of a promising Yukon property in the autumn of 2015. After research and lengthy discussions with the owners, followed by a site visit in the spring of 2016, he recognized it was one of the best he had seen in more than 40 years of property evaluations. The property is in western central Yukon, Canada, in a region favourable to mining, and in an area where big deposits are being discovered. Of further intrigue, the property has been held for over 30 years by the original discoverers of gold in the region, but hadn’t had significant exploration work within the bedrock or lode. The owners were content to operate a highly profitable seasonal placer operation, but had also acquired 25 square kilometers of carefully selected lode claims to cover the gold system, in addition to their placer operation. During his first visit to the property, Provenance’s lead geologist quickly recognized the major potential of the claims. There was convincing evidence that the ongoing placer activity was very near its lode gold source, plus bedrock gold was visible in key areas in a geological style and setting favourable to hosting large gold systems. He agreed the origin of the gold system is on the lode claims.
Shortly after the visit Provenance completed an option agreement on the lode claims now called the 2K Gold Property. Later in the summer of 2016, Provenance initiated exploration with the completion of a sampling and trenching program, which is reported in its current NI 43101.
The NI 43101 was prepared by an experienced independent Yukon geologist who visited the site and concluded it is a “property of merit”. The summer 2016 field program consisting of rock samples from three trenches upstream of the current placer operation yielded gold content as high as 803 g/t Au, while the limited due diligence sampling by the independent geologist produced gold values ranging up to 420 g/t Au, and a continuous sample across a 1.8 meter wide zone that assayed 122.5 g/t Au. Analysis of the samples was done by the international ALS Laboratories in North Vancouver with assistance from their Whitehorse office.
Encouraging results were obtained in 2016 and early results from the 2017 program add to the company’s opinion that the property could host a significant gold deposit. Highlights from Provenance’s work on the property over the 2016 and 2017 field programs include the following:
- Rock grab samples with values up to 420 grams per tonne gold (Au);
- Trench and outcrop grab samples returning values up to 803 g/t Au;
- Acquisition of additional claims within the area;
- Confirmation of property-wide extent of gold system;
- Completion of aerial photo coverage of the property and surrounding area;
- Expansion of known gold targets and identification of new ones;
- Completion of initial soil geochemical grids of key areas;
- Completion of a National Instrument 43-101 technical report.
Advantages of the 2K Gold Property
This project is not a Green fields exploration venture. It is defining and expanding the known lode gold sources from the rich multi-decade placer operations. The work to date has already discovered open-ended zones of high grade and bulk tonnage lode gold:
- The land that 2K Gold Property covers has produced over 65,000 ounces of gold since 1978 according to Government of Yukon records.
- The 2K Gold Property is the source of gold for a rich placer operation that has been working continuously and successfully for three decades.
- Significant infrastructure exists to allow immediate access to the 2K Gold Property for exploration.
- Little to no prior exploration of the lode claims had been done until Provenance Gold Corp started lode exploration of the claims during the summer of 2016.
- Yukon is considered a friendly mining jurisdiction.
- The geology, style and structural placement of the known lode gold that has been revealed to date by trenching, sampling and placer mining all indicate a large gold system underlies the property.
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THE PROVENANCE GOLD CORP TEAM
Provenance Gold Corp founders, executives and directors have established track records in manufacturing, distribution and metal sectors.
Co-Founder, Chairman & CEO
Mr. Perttu is a registered professional geologist whose experience spans more than 40 years covering all aspects of mineral development throughout North, Central and South America, and Australia. He has worked for and with large and small companies involved with gold, uranium and coal projects. Mr. Perttu has participated in all phases of project development from initial concept through exploration, feasibility, development and operations at senior management levels. He holds B.A. and MSc degrees in geology and is a registered engineering geologist in Oregon.
Co-Founder, President & CFO
Mr. Clark is a driven entrepreneur and venture capitalist who has been the President of RBM Financial Inc. for the past twenty years. Mr. Clark has extensive experience within both the private equity markets, and domestic and international equity markets, having been a part of numerous transactions including mergers, acquisitions, company buyouts and corporate restructuring. Because of his past successes in selecting and selling critical mining properties and his experience with joint ventures, he brings valuable expertise and insight to Provenance Gold Corp. Mr. Clark also enjoys the mobile and entertainment space which he has been a part of for years, as a director or investor of several technology companies.
In the entertainment space he has funded and produced feature films, partnering with Sony and Lions Gate to garner world-wide sales. Mr. Clark has been an avid outdoorsman since his youth when he helped forge some of the first trails in the mountains north of Pemberton with Outward Bound as well as completing back country guiding courses in northern BC and Alaska. The British Columbia Institute of Technology (BCIT) provided Mr. Clark with the valuable tools needed to implement his entrepreneurial vision.
Mr. Martin has been an athlete all his life and was awarded a full ride scholarship to the University of Denver where he continued his hockey career. He was a member of the Calder Cup champions, the Sherbrooke Canadians, and was a first team all star in the AHL. He continued his hockey career playing in the National Hockey League (NHL) where he played for Winnipeg, Hartford and Minnesota in addition to playing professionally in Europe. After his hockey career wound down he ventured into business and finance where he has managed and invested in several successful businesses over the years. Mr. Martin has also utilized his sports and media ties domestically and internationally to raise capital for both private and public corporate entities. Mr. Martin’s solid work ethic and his ability to be a team player are invaluable components for our company.
Mr. Crom serves as one of our independent directors and chairs the Company’s audit committee. He is the President and founder of Eureka Ventures which has for the past 30 years been providing financial services primarily within the natural resource industry on corporate restructuring, debt financing, operational and financial reviews in addition to strategic planning. Mr. Crom has been involved in numerous mining joint ventures, acquisitions, and divestures with small, mid and large cap mining companies both private and public. He received both Certified Professional Accountants (CPA) and Certified Management Accountant (CMA) licenses (both inactive), as well as an undergraduate and master’s degree in accounting.
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Current outstanding shares: 33,429,134
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