Tel: 60 Toll Free: 85 the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value, in other favourable jurisdictions.Īdditional information can be viewed at the Company's website On Behalf of the Board of Directors of Precipitate Gold Corp., The Company has entered into an Earn-In Agreement with Barrick Gold Corporation, whereby Barrick can earn a 70% interest in the Company's Pueblo Grande Project by incurring US$10M within six years and producing a qualifying Pre-feasibility Study. is a mineral exploration company focused on exploring and advancing its mineral property interests in Newfoundland Canada and the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. This news release has been reviewed by Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards. * High grade rock grab samples are selective by nature and are unlikely to represent average grades on the property The Company's website has additional information and illustrations of recent and historical Motherlode project data.įor reference: g/t = grams per tonne, Au = gold, m = metres The Motherlode Zone hosts the Project's most notable gold mineralization and related surface colour gossan identified to date, with rock grab sample values up to 25.0 g/t gold* and historical drill results including 3.5m at 1.4 g/t gold.
PRECIPITATE GOLD PREIF SERIES
The estimated three kilometre long northeast trending Motherlode Structure Corridor hosts structurally related orogenic gold style mineralization, where gold enriched quartz veins-stockworks are associated with an anastomosing series of quartz-sericite shears and faults with sub-vertical to steep northwest dips, containing low pyrite and arsenopyrite sulphide concentrations. The primary focus of the drilling program will be testing the recently delineated IP geophysical chargeability high anomalies located within the 'Motherlode Structural Corridor' where elevated chargeability readings reflect elevated sulphide concentration related to probable gold mineralization. The potential to drill test those anomalies now offers Precipitate an exciting opportunity at discovery."
Drilling by prior operators reported gold mineralization within the Motherlode Zone but failed to intersect any of the newly identified chargeability anomalies identified in our recent IP survey. Our groundwork to date has successfully delineated favourable geological shear structures and coincident IP geophysical anomalies which are potential hosts for gold mineralization. Jeffrey Wilson, Precipitate's President and CEO stated, "We are excited to announce the commencement of this first phase of drilling at our Motherlode Zone in southern Newfoundland. See the accompanying geophysical IP chargeability plan map and 3D Chargeability map for additional information. The program is designed to test multiple induced polarization ("IP") geophysical chargeability high anomalies located within the Motherlode Structural Corridor, with planned hole depths ranging from 70 to 300 metres. Multiple holes can be drilled from each platform, allowing for a significant number of possible holes and flexibility to adjust drill targeting as the program progresses. The drill campaign calls for a minimum of 2,000 metres of diamond drilling from up to 22 permitted drill platforms within the Project's prospective Motherlode Zone. October 17, 2022) - Precipitate Gold Corp. ( TSXV: PRG) (OTCQB: PREIF) (the " Company" or " Precipitate") is pleased to announce the commencement of a diamond drilling program at the Company's Motherlode Gold Project ("Motherlode" or the "Project") within the Burin Peninsula of southern Newfoundland, Canada. Vancouver, British Columbia-(Newsfile Corp.
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