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Precipitate Commences Field Work at Ace Gold Project in Newfoundland, Canada and Grants Stock Options
Vancouver, British Columbia--(Newsfile Corp. - October 18, 2021) - Precipitate Gold Corp. ( ...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate Commences Field Work at Ace Gold Project in Newfoundland, Canada and Grants Stock OptionsVancouver, British Columbia--(Newsfile Corp. - October 18, 2021) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the \"Company\" or \"Precipitate\") is pleased to announce it has commenced exploration field work on the Ace Project (or the \"Project\") located at the northern end of the highly prospective Exploits Subzone (Dunnage Tectonic Zone) of north-central Newfoundland, Canada.With a Newfoundland government permit to conduct prospecting and ground geophysics, the Company has started a project-wide prospecting and geological mapping program. Initially field crews will focus on the newly identified Ace Zone; a 10 - 20 metre wide alteration and shear zone that trends northeast-southwest, with select grab rock samples up to 5.4 g/t gold. Crews will then expand the exploration focus to cover prospective areas where limited past exploration, including government till samples that reported anomalous pathfinder elements (located approximately 2.5 kilometres north of the Ace Zone) and outcropping rocks on the western side of the project(see accompanying map in Figure 1).Figure 1 - Ace Project Highlight ZonesTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/1718/99981_1bedfd8ca4c9499b_003full.jpgPrecipitate's President & CEO, Jeffrey Wilson stated, \"We are very pleased to commence field work on the Ace Project, which is located within the highly prospective Exploits Subzone geological district of Newfoundland. One of the many benefits of the recently announced option agreement for the Project is the pre-existing permit to conduct field work, which allows us to start our work immediately, with the goal of establishing potential drill targets as efficiently as possible.\"Precipitate's core objective for this phase of work is to utilize detailed prospecting and surface sampling to discover new mineralized zones to complement the existing Ace zone as potential areas for follow up ground geophysical surveying, which ultimately would refine prospective drill targets for an initial first phase of drilling. Additionally, the Company has submitted an exploration permit application for project-wide airborne geophysical and geochemical (till and lake) sampling surveys, which the Company intends...