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Precipitate's Initial Field Work Identifies Six Early-Stage Target Areas at Ace Gold Project in Newfoundland, Canada
Vancouver, British Columbia--(Newsfile Corp. - November 23, 2021) - Precipitate Gold Corp. (...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate's Initial Field Work Identifies Six Early-Stage Target Areas at Ace Gold Project in Newfoundland, CanadaVancouver, British Columbia--(Newsfile Corp. - November 23, 2021) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the \"Company\" or \"Precipitate\") is pleased to announce it has completed first phase prospecting and rock sampling exploration field work on the Ace Gold Project (or the \"Project\") located at the northern end of the highly prospective Exploits Subzone (Dunnage Tectonic Zone) of north-central Newfoundland, Canada.Experienced local field crews have successfully identified five new areas of compelling surface mineralization, in addition to the recently discovered Ace Zone where rock grab samples report up to 5.4 g/t gold. Much of the first-pass prospecting, geological mapping and rock sampling work was carried out on easily accessible coastlines and roads, as these areas have ample rock exposures. Limited prospecting was carried out in the central project claims; these under-explored regions will be examined during the next work phase. A total of 127 rock samples have been shipped to the laboratory for multi-element analysis. The accompanying figures illustrate the Ace Project target areas and rocks, identified to date.Figure 1: Ace Project Early-stage Prospecting TargetsTo view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/1718/104778_figure%201%20pgc.jpg.Figure 2: Ace Project Mineralization RocksTo view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/1718/104778_figure%202%20pgc.jpg.Jeffrey Wilson, Company President & CEO stated, \"We are very pleased that our first phase of field work at Ace has yielded such favourable results. Initial visual assessments indicate the project could be an extension of the highly prospective Exploits Subzone geological district of Newfoundland, which is host to several high-grade gold samples recently reported from neighbouring projects. Having permits in place to carry out project-wide airborne and ground geophysical surveys and systematic till and lake sampling allows us to rapidly initiate the next stages of follow-up exploration. Upon receipt and review of the pending rock sample data, we plan to initiate an accelerated exploration program aimed at establishing potential drill ...