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Precipitate Receives Airborne Geophysics and Sampling Permit for the Ace Gold Project in Newfoundland, Canada
Vancouver, British Columbia--(Newsfile Corp. - November 2, 2021) - Precipitate Gold Corp.
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About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate Receives Airborne Geophysics and Sampling Permit for the Ace Gold Project in Newfoundland, CanadaVancouver, British Columbia--(Newsfile Corp. - November 2, 2021) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the \"Company\" or \"Precipitate\") is pleased to announce that is has received Newfoundland and Labrador government authorization to commence property-wide airborne geophysical surveying and systematic till and lake sediment sampling on the Company's Ace Gold Project located at the northern end of the highly prospective Exploits Subzone (Dunnage Tectonic Zone) of north-central Newfoundland, CanadaThe exploration permit allows the Company to conduct a property-wide heliborne high sensitivity magnetic-radiometric geophysical survey and carry out systematic till and lake sediment sampling. The anticipated airborne geophysical survey data will provide critical information that will help the Company quickly and effectively identify priority areas within the project that warrant follow-up detailed till and lake geochemical sampling and prospecting. With a ground geophysical survey permit in place for the Project, the Company can potentially move rapidly to detailed vectoring for a future diamond drill program. Jeffrey Wilson, Company President & CEO stated, \"We are pleased to have been granted this important permit in such an efficient and timely manner, only three weeks following the closing of the option to acquire the project. The proposed airborne geophysical and till and lake geochemical surveys will complement the current first-pass prospecting and surface sampling program that started at the Ace Zone and has now expanded to cover additional readily accessible areas throughout the project. Rock samples from this program continue to be shipped to the laboratory for analysis and will be reported as they become available.\"Ace Project Highlights *Right to acquire a 100% interest in the Ace Gold Project by way of a four-year Option Agreement;Ace Gold Zone: A new discovery of a 10 - 20 metre wide alteration and shear zone with select grab rock samples up to 5.4 g/t gold;Ace Gold Zone is situated at the northeast end of a gold enriched geological trend which includes numerous high-grade gold occurrences;13 kilometres northeast along trend from Ethos Gold Corp's Toogood Property (reported high gra...