Precipitate Commences Ground Geophysical IP Survey at Motherlode Gold Project in
Precipitate Commences Ground Geophysical
IP Survey at Motherlode Gold Project in
Newfoundland, Canada
Vancouver, British Columbia--(Newsfile Corp. - June 21, 2022) -
Precipitate Gold Corp.
(
TSXV: PRG
)
(
OTCQB: PREIF
) (the "
Company
" or "
Precipitate
") is pleased to announce it has commenced ground
geophysical surveying at the
Motherlode Gold Project
("Motherlode" or the "Project") within the Burin
Peninsula of southern Newfoundland, Canada.
The Company has initiated a ground geophysical program of magnetic and induced polarization ("IP")
surveying at the high priority Motherlode Zone. The IP survey will consist of 11 lines at 100 metre spacing
for an estimated total of 7.5 line-kilometers. These two surveys will cover a 1,000 metre portion of the
laterally extensive shear-structure trend which bisects the Zone in a northeast - southwest direction. 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
.
Jeffrey Wilson, Precipitate's President & CEO, stated, "We're pleased to initiate this important program
of detailed ground geophysical surveying at the Motherlode Zone, as this work represents a critical step
toward delineating and prioritizing drill targets. The Company's recently completed review and
interpretation of existing geochemical, geological, and geochemical data provided prioritized zones
warranting detailed follow up groundwork. The IP survey will provide valuable subsurface geophysical
signatures within these prioritized zones and aid in identifying targets for an anticipated near-term drill
campaign."
The Company has completed the first phase project-wide exploration program of prospecting,
geological mapping and surface sampling, with emphasis on the 7 high priority and 11 secondary target
areas outlined in previous news releases. A total of 330 rock samples have been submitted to the
laboratory for analyses.
Figure 1: Motherlode Project Location Map and Area of IP Surveying
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1718/128378_d34c7a11448b38a9_003full.jpg
Figure 2: Photo of Motherlode Zone Surface Colour Gossan (looking north)
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1718/128378_d34c7a11448b38a9_004full.jpg
The Motherlode Zone hosts structurally related orogenic gold style mineralization, where gold enriched
quartz veins-stockworks are strongly associated with shears and faults containing low pyrite and
arsenopyrite sulphide concentrations.
The Company's
website
has additional information and illustrations of recent and historical Motherlode
project data.
For reference: g/t = grams per tonne, Au = gold, m = metres
* High grade rock grab samples are selective by nature and are unlikely to represent average grades on the property
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.
About Precipitate Gold:
Precipitate Gold Corp. 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. 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. 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.
Additional information can be viewed at the Company's website
www.precipitategold.com
.
On Behalf of the Board of Directors of Precipitate Gold Corp.,
"Jeffrey Wilson"
President & CEO
For further information, please contact:
Tel: 604-558-0335
Toll Free: 855-558-0335
Neither 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.
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements,
other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified
by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of
words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking
information reflects Precipitate Gold Corp.'s ("Precipitate" or the "Company") current beliefs and is based on information currently available to
Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those
expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration
concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social
uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to
receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability
of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals.
Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/128378