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Precipitate's IP Geophysical Survey Identifies Drill Targets at Motherlode Gold Project in Newfoundland, Canada
Vancouver, British Columbia--(Newsfile Corp. - September 8, 2022) - Precipitate Gold Corp.&#x...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate's IP Geophysical Survey Identifies Drill Targets at Motherlode Gold Project in Newfoundland, CanadaVancouver, British Columbia--(Newsfile Corp. - September 8, 2022) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the \"Company\" or \"Precipitate\") is pleased to announce it has completed induced polarization (\"IP\") and magnetic geophysical surveying at the Motherlode Gold Project (\"Motherlode\" or the \"Project\") within the Burin Peninsula of southern Newfoundland, Canada.IP geophysical surveying conducted at the high priority Motherlode Zone has yielded new and important information that will guide a planned diamond drilling program. The IP survey was conducted using both pole-dipole and gradient arrays, aimed at generating both near surface detailed geophysical information and deep penetrating (+250 metre depth) data. Collectively, the analysis of geological and geophysical data demonstrates the surveys have successfully identified geophysical signatures related to rock types, contacts, fault-shear structures and importantly, increased chargeability readings reflecting elevated sulphide concentration related to probable mineralization. These newly delineated untested anomalies represent prospective targets that are being refined and prioritized for near-term drill testing. See the accompanying figures and the Company's website for additional compilation illustrations. Motherlode Zone IP Geophysical Survey Highlights:Identified +500 metre long gradient chargeability highs extending northeast from the Motherlode surface gossan;Gradient chargeability high anomalies are open along strike to the northeast and below the estimated survey depth limit of 300 metres vertically below surface;No historical drill testing of the newly identified gradient chargeability high; most historical drill holes appear to have missed other prospective chargeability anomalies; Untested discrete chargeability high clusters within the main target Motherlode Structural Corridor, a zone of mixed quartz-sericite schists, shears and faults with sub-vertical to steep northwest dips; andSufficient technical data has now been compiled to commence planning a diamond drill program.Jeffrey Wilson, Precipitate's President & CEO stated, \"We're pleased with the results of the Motherlode Zone IP survey, as it has delineated an untes...