VANCOUVER, British Columbia, Dec. 02, 2025 (GLOBE NEWSWIRE) -- Precore Gold Corp. (CSE: PRCG) (the “Company” or “Precore Gold”) is pleased to announce the kick-off of a brownfield exploration program following a recent site visit to the Company’s flagship, the Arikepay Project (“Arikepay”), located in the prolific mining region of Arequipa, Southern Peru.
Image 1. Map of Arikepay Project located among major deposits/mines in Southern Peru.
Following the field review of the property’s historical drill results data, as well as the advancement of preparatory technical, environmental and community-related field work, Precore Gold’s team of senior geologists have finalized first plans for Arikepay’s much-anticipated brownfield exploration program. The recent site visit was especially successful as the geological team was able to locate a number of previous drill hole locations, recover diamond drill hole (“DDH”) core from the 2017 campaign conducted by Compania Minera Zahena (“Zahena”) and recover chip trays containing the reverse circulation (“RC”) cuttings from the 2012 campaign completed by Cobriza Metals Peru. This is significant as these past drill programs had delivered very encouraging results. Furthermore, Precore’s team recovered core from high-grade hole AK-DDH-02-17, which was reviewed and photographed and sample sections taken for future detailed study.
Precore has now outlined a clear path forward and methodology to begin unlocking the property’s value in the near-term, which supports the obtention of drilling permits:
- Advance environmental and community work. The Arikepay Project is located in a prolific mining region, surrounded by major mines operating for decades, therefore social acceptance and environmental stewardship have been at the forefront, led by majors in the area. The project is easily accessible at 1,200 meters above sea level, in a flat and very dry environment. Arikepay has already been granted environmental approvals for past drill programs, which is a good precursor for current permitting requests. The Company has begun the filings needed to receive water use permits and is defining a rigorous plan for a community outreach program which is expected to commence in December.
- Update the existing Certificate of Non-Existence Archaeological Remains (CIRA certificate), in place since past drill programs. As Precore’s exploration program moves forward and the location of the new drill pads are determined, the CIRA will be updated to the new project parameters.
- Refresh the access road to the project, primarily by the removal of wind drift sand. This will ensure the ease of access by technical teams and various consultants and contractors to initiate the work program and to complete permitting. The condition of the road is quite favourable in its current state, therefore refresh work is not anticipated to be timely nor costly.
- Begin pre-drilling exploration work which includes high-resolution downhole imaging, in order to obtain data on interior surfaces to define the basic geometry of gold mineralization.
- Conduct a geophysical survey such as induced polarization, to better understand the concentrations of sulfide that seem to be associated with the gold mineralization. This work will allow the team to define the location of priority drill hole targets for Precore’s maiden drill program.
Paul A. Dumas, Precore Gold Executive Chairman, explains “There has never been a better time to develop a large, underexplored and highly prospective copper-gold property located adjacent to several important operating mines and in an area that has all the necessary infrastructure to support project development and operation. The region of Arequipa in Southern Peru has been gaining in notoriety over the last few months, especially since our neighbor Southern Copper’s $1.8 billion Tia Maria Project was awarded the “green light” and final mining license in October of this year. And since our arrival, we have seen considerable interests surrounding our property. We are extremely excited to begin our exploration campaign and to start uncovering the value of Arikepay. I’d like to thank our incredibly knowledgeable team of technical experts and community, environmental and legal advisors, both here and in Peru, for moving us along so rapidly. Precore struck the Arikepay deal in April of this year and we have already come a long way.”
Photo 1. Access road to the Arikepay Project: easy, unobstructed, direct access at 1,200m above sea level.
Photo 2. Historical DDH core warehoused in the town of El Toro.
Photo 3. High-grade core samples taken from three different 3-meter sections from historical hole AK-DDH-02-17.
Arikepay Project – Historical Drill History
The Arikepay Property hosts a multiphased mineralized intrusive complex controlled by NW-SE faults parallel to the Incapuquio fault system and pertaining to the Cretaceous porphyry belt of southern Peru. Cu-Au-Ag stockwork system was emplaced in a quartz feldspar porphyry and a Au-Ag-Cu event is hosted in a diorite porphyry. The multiphased complex has been recognized over an area of 2 km x 2 km and remains open laterally in all directions and at depth. A total of 13,738 meters of drilling in 32 drill holes were completed between 2002 and 2017. Cobriza Metals Peru drilled 14 reverse circulation drill holes totaling 3,630 m in 2012 and Zahena drilled 14 diamond drill holes totaling 8,908 m in 2016-17.
Best historical drill intercepts in the Cu-Au-Ag quartz-feldspar porphyry include*:
• 142 m @ 0.37% Cu, 0.17 g/t Au, 2.02 g/t Ag from 66 m in hole RC-012-ARI-006
• 357 m @ 0.29% Cu, 0.11 g/t Au, 1.16 g/t Ag from 78 m in hole AK-DDH-10-17
• 111 m @ 0.24% Cu, 0.03 g/t Au, 0.58 g/t Ag from 54 m in hole AK-DDH-09-16
Best historical drill intercepts in the Au-Ag-Cu diorite porphyry include*:
• 420 m @0.91 g/t Au, 1.16 g/t Ag, 0.04% Cu from 30 m in hole AK-DDH-02-17
o including 81 m @ 3.17 g/t Au, 2.12 g/t Ag, 0.07% Cu from 342 m
• 66 m @ 1.23 g/t Au, 0.36 g/t Ag, 0.03% Cu from 27 m in hole AK-DDH-02A-17
• 60 m @ 0.77 g/t Au, 3.28 g/t Ag, 0.14% Cu from 10 m in hole RC-012-ARI-002
o including 26 m @ 1.29 g/t Au, 4.48 g/t Ag, 0.12% Cu from 44 m*
*Best historical drill intercepts at Arikepay Project (Source: Enrique Bernuy, 2020)
There has been no follow-up drilling on these past drill holes, including high-grade AK-DDH-02-17, in over 10 years and it constitutes the priority for the inaugural drilling program that Precore Gold is currently planning.
Image 2. Map including best historical drill intercepts at Arikepay (Source: Enrique Bernuy, 2020).
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, P.Eng (OIQ #107538), Lead Technical Advisor of Precore Gold, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Precore Gold Corp.
Precore Gold is a Canadian junior gold exploration company focused on building a solid portfolio of exploration projects with strong gold discovery potential, in order to capture the strength of the gold market and to generate long-term shareholder returns. The Company is focused on their flagship properties, the Arikepay property, in Arequipa, Peru and the Lac Big-Rush property in Chibougamau, Quebec. The Company plans to seize opportunities, whereby promising properties are located in prolific mining camps, in politically stable jurisdictions, that contain important historical drilling results that have not seen any follow-up work in years. Precore Gold’s mission is underpinned by diligent environmental, social and corporate governance (ESG) standards.
For shareholder inquiries, please contact:
Paul A. Dumas, Executive Chairman
Email: padumas@precoregold.com
Tel: 514-994-1069
www.precoregold.com
Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the completion of the Second Tranche, future geological work or exploration programs, the potential positive exploration results, the timing of the exploration results, the ability of the Company to finance exploration programs and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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Image 1
Map of Arikepay Project located among major deposits/mines in Southern Peru.
Photo 1
Access road to the Arikepay Project: easy, unobstructed, direct access at 1,200m above sea level.
Photo 2
Historical DDH core warehoused in the town of El Toro.
Photo 3
High-grade core samples taken from three different 3-meter sections from historical hole AK-DDH-02-17.
Image 2
Map including best historical drill intercepts at Arikepay (Source: Enrique Bernuy, 2020).
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