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Precipitate Receives Geophysics and Prospecting Permit for the Motherlode Gold Project in Newfoundland, Canada
Vancouver, British Columbia--(Newsfile Corp. - October 5, 2021) - Precipitate Gold Corp. ...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate Receives Geophysics and Prospecting Permit for the Motherlode Gold Project in Newfoundland, CanadaVancouver, British Columbia--(Newsfile Corp. - October 5, 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 traditional prospecting on the Company's Motherlode Gold Project within the Burin Peninsula of southern Newfoundland, Canada.The permit allows the Company to conduct a property-wide heliborne high sensitivity magnetics-radiometrics geophysical survey, which is planned for early October. The airborne geophysical survey results will provide a valuable compliment to the existing historical property data currently being compiled and reviewed by the Company's geological staff. Following review and interpretation of the pending heliborne geophysical data, initial groundwork, including prospecting, mapping and sampling will be conducted over selected geophysical and geochemical anomalies.Jeffrey Wilson, Company President & CEO stated, \"We are pleased to have been granted these important permits in such an efficient and timely manner, only five weeks following the closing of the Option to Acquire the project. Possession of these permits allows the Company to promptly mobilize crews and initiation an important first phase of work aimed at delineating new prospective targets on this exciting new property asset in Newfoundland.\" Motherlode ProjectThe 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 ...