Precipitate Initiates Airborne Geophysical Survey at the Motherlode Gold Project in
Precipitate Initiates Airborne Geophysical
Survey at the Motherlode Gold Project in
Newfoundland, Canada
Vancouver, British Columbia--(Newsfile Corp. - October 25, 2021) -
Precipitate Gold Corp.
(
TSXV:
PRG
)
(
OTCQB: PREIF
) (the "
Company
" or "
Precipitate
") is pleased to announce the commencement
of a property-wide helicopter-borne geophysical survey at the Company's Motherlode Gold Project within
the Burin Peninsula of southern Newfoundland, Canada.
The property-wide heliborne high sensitivity magnetics-radiometrics geophysical survey will compliment
the Company's ongoing review of existing detailed historical property data. Following receipt and review
of the geophysical survey results, the Company plans to initiate focused groundwork including
prospecting, mapping and sampling over select geophysical and geochemical anomalies, specifically
where known mineralized showings coincide with geophysical anomalies. The goal of the program is to
delineate and prioritize distinct areas for future exploration and advancement toward drill testing. The
survey will use high sensitivity magnetic and radiometric detectors and will comprise an estimated 1,700
line kilometres, at 75 metre line spacing.
Jeffrey Wilson, Company President & CEO stated, "We're excited to start exploration on the Motherlode
gold project, as it represents a newly consolidated and contiguous land package hosting multiple areas
of significant known mineralization that have never been systematically explored as one project.
Commencing this geophysical survey is an important first step in understanding the project's potential
and garnering new geophysical information that can be applied in vectoring toward favourable structures
and lithologies with the potential to host gold mineralization and drill-worthy targets."
Figure 1: Motherlode Project, Property-wide Mineral Showings
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1718/100673_4fc301ae14debb2d_003full.jpg
Motherlode Project
Precipitate has the right to acquire a 100% interest in the Motherlode Project which is comprised of
12,350 hectares on Newfoundland's south coast. Access and logistical infrastructure are excellent, with
year-round road access, high-power electrical lines running through the project, nearby Atlantic Ocean
ports, and an active nearby industrial fluorite mine. The project represents district-scale potential within
an estimated 16.5-kilometre-long exploration trend hosting 11 historical mineral occurrences, including 8
gold showings.
Historical high-grade results* including rock grab samples to 25.0 g/t Au, 15.7 g/t
Au, 11.6 g/t Au, 6.3 g/t Au & 4.5 g/t Au; Trench/Channel Results: 0.5m of 4.5 g/t Au, 1.5m of 10.1
g/t Au, 6.2m of 3.6 g/t Au (incl. 0.9m of 7.7 g/t Au)
;
For reference: g/t = grams per tonne, Au = gold, m = metres
* Note: Certain information and data in this news release concerning the Motherlode Project and past
work done thereon and results therefrom are historical, being derived from publicly available sources
including assessment reports and Newfoundland government technical sources. The reliability of some
historical data is unknown but is considered relevant by Company management. The historical data may
be non-NI 43-101 compliant and should not be relied upon. It is the Company's intention to verify the
historical data, however confirmation work may produce results that differ substantially from the historic
results. 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 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.
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