Mr. Jeffrey Wilson reports
PRECIPITATE COMMENCES GROUND GEOPHYSICAL IP SURVEY AT MOTHERLODE GOLD PROJECT IN NEWFOUNDLAND, CANADA
Precipitate Gold Corp. has commenced ground geophysical surveying at the Motherlode gold 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 kilometres. 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 grams per tonne (g/t) gold and historical drill results including 3.5 metres (m) at 1.4 g/t gold.
Jeffrey Wilson, Precipitate's president and chief executive officer, 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 seven 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.
The Motherlode zone hosts structurally related orogenic-gold-style mineralization, where gold enriched quartz vein 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.
This news release has been reviewed by Michael Moore, vice-president of exploration for Precipitate Gold, the qualified person for the technical information in this news release under National Instrument 43-101 standards.
About Precipitate Gold Corp.
Precipitate Gold 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 Corp., whereby Barrick can earn a 70-per-cent interest in the company's Pueblo Grande project by incurring $10-million (U.S.) within six years and producing a qualifying prefeasibility 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.
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