Providence Mining TSXV:PHD

1 year 2 months ago #122936 by RonS
RonS created the topic: Providence Mining TSXV:PHD
You must understand the history of Providence Gold Mines to appreciate the strong potential. I show this in detail below. Here are the basic investment highlights:

Tight share structure, 35.8M outstanding and well held;
Experienced management with many past discoveries;
Patented mining claims, no drill permit required;
Strong infrastructure and located in active mining district;
225,000 oz. gold recovered from 1894 to 1916, grading up to 15 oz. per ton;
Just one major stope mined, the rest is virtually untouched;
Rare high grade gold potential in North America;
Initial work completed, moving to first ever drill program.

The Providence Group of Mines has been historically identified and described as having similarities to many of the great mines within the “Mother Lode” gold district. The Providence Mines are known to have mined ore shoots with reported production of 30,000 to 50,000 ounces of gold within individual stopes with grades reported to average greater than 1.0 oz. / ton. From 1894 to 1916 there was 225,000 oz. gold recovered. Single chambers in mine reportedly produced up to 30,000 oz. of gold grading 15oz. per ton.

To date just one major mineralized stope has been reported to have been mined and only to 1,100 ft. depth, other stopes have only been mined near surface to only 100 to 200 ft. The Motherlode District Deposits are historically very deep, easily traced down dip to 3,000-5,000 ft. These Orogenic type gold deposits generally increase in size and value with depth. No doubt there is huge potential at depth. Since the Providence Gold Mines have only been developed near surface, this leaves further expansion near surface and to depth, as well as along strike and new veins that historically were not evident at surface.

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