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Precipitate Closes Agreements to Secures Rights to Acquire Motherlode Gold Project in Newfoundland, Canada with TSX Venture Approval
Vancouver, British Columbia--(Newsfile Corp. - August 26, 2021) - Precipitate Gold Corp. 
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About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate Closes Agreements to Secures Rights to Acquire Motherlode Gold Project in Newfoundland, Canada with TSX Venture ApprovalVancouver, British Columbia--(Newsfile Corp. - August 26, 2021) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the \"Company\" or \"Precipitate\") is pleased to announce, further to the Company's news release dated August 17, 2021, Precipitate has received TSX Venture Exchange (the Exchange\") approval to close the previously announced property acquisitions and option agreements (the \"Agreements\") granting the Company rights to acquire a 100% interest in certain mineral exploration licenses totaling 12,350 hectares making up the Motherlode Gold Project (the \"Motherlode Project\" or the \"Project\") located within the Burin Peninsula of southern Newfoundland, Canada.The effective date of the Agreements, being the date of receipt of Exchange approval, will be August 23, 2021. As per the terms of the Agreements, Precipitate has issued a total of $27,000 and 395,000 common shares of the Company. All securities issues will be subject to such resale restrictions by applicable securities laws, including National Instrument 45-102 of the Canadian Securities Administrators, and the rules and policies of the Exchange.The Motherlode Project:The Motherlode Project 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* include:Gold rock grab samples: 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); and2007 Diamond Drill Results (8 holes, 902m): 0.7m of 3.2 g/t Au, 10.4m of 0.82 g/t Au, 1.5m of 2.8 g/t AuFor reference: g/t = grams per tonne, Au = gold, m = metresThe Company's technical staff are currently conducting a detailed compilation and review of historical property data and have applied for permits to conduct a property-wide heliborne...