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Precipitate's Magnetic 3D Inversion Study Identifies Multiple New Geophysical Targets at the Pueblo Grande Gold Project in Dominican Republic
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2019) - Precipitate Gold Corp. (TSXV...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate's Magnetic 3D Inversion Study Identifies Multiple New Geophysical Targets at the Pueblo Grande Gold Project in Dominican RepublicVancouver, British Columbia--(Newsfile Corp. - June 24, 2019) - Precipitate Gold Corp. (TSXV: PRG) (\"Precipitate\" or the \"Company\") is pleased to announce results and interpretation of the geophysical magnetic 3D inversion study conducted on the highly prospective advanced argillic altered Loma Cuaba Lithocap Zone of the Company's 100% owned Pueblo Grande Project located adjacent to Barrick's world-class Pueblo Viejo gold-silver mine in the Dominican Republic. Highlight results from the survey and interpretation are as follows.Identification of five magnetic low anomalies (near surface and concealed at depth) likely associated with magnetite destruction characteristics of Pueblo Viejo style high sulphidation epithermal alteration;Identification of a sizeable egg-shaped magnetic low anomaly possibly associated with porphyry style magnetite destruction alteration (possibly potassic) measuring up to 450 metres in diameter, at an estimated depth of 400 metres from surface to the top of the anomaly;Identification of a large magnetic low anomaly in the southeast lithocap area, concealed at depth (+400 metres) appearing to extend eastward to Barrick's new exploration target called Arroyo Hondo which is a high sulphidation epithermal target situated between Barrick's mining pits and Precipitate's claim boundary; andNone of the aforementioned geophysical anomalies have been drill tested by prior operators, making them compelling targets for the Company to prioritize for drill testing.The computer-generated 3D inversion study utilized the combination of historical airborne data with newly derived ground geophysical data to aid interpretation of lithology, alteration and structural features. The inversion study was completed by Tom Weis (ex-Chief geophysicist Newmont) and Carl Wendels of Thomas Weis and Associates Inc. See the accompanying two magnetic inversion anomaly maps or visit www.precipitategold.com for additional illustrations of the Loma Cuaba Lithocap Zone illustration maps.Jeffrey Wilson, Precipitate's President & CEO stated, \"We are very pleased that this magnetic 3D inversion study has identified multiple untested magnetic low anomalies which vector toward potential high sulphid...