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Barrick has commenced an exploration program including induced polarization (“IP”) geophysical surveying and trenching onthe
Barrick Planned Program Highlights (
An exploration program focused onnear surface high sulphidation epithermal Pueblo Viejo style gold mineralization along with a possible concealed copper-gold porphyry style target at depth.
A deep penetrating, 2D pole-dipole IP geophysical surveying comprised of three (3) north-south oriented survey lines, at 400 metre spacing, for a planned survey total of nine (9) line kilometers.
Renewed evaluation of anarea located immediately west of the previous Barrick drill testing at the
Lithocap Zone , by way of re-interpretation of existing Project data, particularly magnetic geophysics, various rock-soil geochemical signatures, surface rock-clay alteration studies, and critical geological features (rock types and various fault structures).Up to ten hand-dug trenches targeting coinciding areas of prospective geology and high temperature clay alteration occurrences, which are often associated with high sulphidation epithermal systems.
Preparation of an estimated 3,000 metre diamond drill program, anticipated for early 2023.
Figure 1: Priority Exploration Area and Barrick’s
In accordance with Earn-in Agreement between Precipitate and Barrick as announced
The Company’s website has additional information and illustrations of recent and historical Motherlode project data.
For reference: g/t = grams per tonne, Au = gold, m = metres
This news release has been reviewed by
About
Additional information can be viewed at the Company’s website www.precipitategold.com.
On Behalf of the Board of Directors of
“Jeffrey Wilson”
President & CEO
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com
Neither the
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company”) current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilledlabouror loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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