Precipitate Gold Corp. Announces Results and Interpretation of the Airborne Geophysical Survey Conducted over the Entire Motherlode Gold Project, Within the Burin Peninsula of Southern Newfoundland, Canada
December 01, 2021 at 09:27 am EST
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Precipitate Gold Corp. announced results and interpretation of the airborne geophysical survey conducted over the entire Motherlode Gold Project, within the Burin Peninsula of southern Newfoundland, Canada. Interpretation of the high sensitivity magnetic and radiometric geophysical survey data, in tandem with the recently completed Project-wide analysis of surface geochemical samples (soil, rock, till and lake) and surface structural lineaments, has successfully delineated numerous exploration target areas: 7 high priority targets, 11 secondary targets and 7 lower priority target areas. See the accompanying maps or the Company's website for additional illustrations of the Motherlode magnetic and historical data illustration maps. These prioritized target areas are characterized by combinations of important coinciding characteristics for vectoring structurally related orogenic gold style mineralization observed at Motherlode. Favourable characteristics include magnetic linears and their crosscutting intersections that denote potential quartz-silica-gold mineralization structural hosts (contacts, faults, shears and folds), surface sample geochemistry with elevated concentrations of gold and arsenic, and various other pathfinder elements, and preferred host rock types, particularly metavolcanic or gabbro lithologies. Interestingly, a number of the high and secondary priority areas have little to no reported historical surface sampling and none of the target zones have seen a modern ground geophysical survey. Additionally, the Company plans to conduct 3D inversion computer modelling of the magnetic data to gain insight on the sub-surface geophysical characteristics of the various linear features in advance of ground geophysical surveying and future drill target selection. The airborne geophysical survey was carried out by Precision GeoSurveys. A total of 1,745 line kilometres were surveyed, with 135?/315? oriented lines, at 75 metre wide line spacing and a mean terrain clearance of 40 metres. Motherlode Gold Project, Major Attributes: 11 historical mineral occurrences, including 8 gold showings; Select Historical sampling highlights*: 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. Channel samples: 0.5m of 4.5 g/t Au, 1.5m of 10.1 g/t Au, 6.2m of 3.6 g/t Au; Airborne magnetic geophysics, surface geochemical samples (elevated gold and arsenic) and surface structural lineaments, identifies 7 high priority and 11 secondary priority target areas; Located within Newfoundland's Burin Peninsula, a current gold exploration focus of many other junior explorationists; District-scale potential within a 12,350 hectare project, an estimated 16.5-km long exploration trend hosted in late Proterozoic-age Burin Group volcanic and ultramafic rocks; Structurally related orogenic gold style mineralization, where gold enriched quartz veins-stockworks are strongly associated with shears, faults and folds containing low pyrite and arsenopyrite sulphide concentrations; and Excellent year-round road access, with highway access, a high-power electrical line bisecting the project, and nearby Atlantic Ocean ports. The helicopter-borne (Bell 206) geophysical survey was completed by Precision GeoSurveys (Langley, British Columbia) using high sensitivity magnetic and radiometric detectors. Specifically, a Scintrex CS-3 cesium vapor airborne magnetometer sensor; sensitivity >0.01 nT and sampling rate of 20 Hz providing sample spacings of 1-2 meters, in a nose-mounted stinger configuration with 3-axis real-time compensation and a 8.4 liter of self-calibrating downward-looking NaI(Tl) gamma radiation detection crystals with 256 channel output at 1 Hz sampling rate. A total of 1,745 line kilometres were surveyed, with 135?/315? oriented lines, at 75 metre wide line spacing and a mean terrain clearance of 40 metres.
Precipitate Gold Corp. is a Canada-based mineral exploration company focused on exploring and advancing its mineral property interests in the Dominican Republic. The Company's gold exploration projects include Pueblo Grande, Juan de Herrera and Ponton, which cover a combined area of approximately 23,061 hectares. The Company owns a 100% interest in the Pueblo Grande Project, which surrounds the high sulphidation epithermal Pueblo Viejo gold mine on the west, north and east sides. The Company, through its subsidiary, 0945044 BC Ltd., has 100% ownership of the Juan de Herrera Project, which is located within the prospective Tireo Gold Trend of western Dominican Republic, directly adjoining GoldQuest Mining Corp on the south and west sides of its Tireo Gold Project. The Ponton Project, located approximately 25 kilometers east of Pueblo Grande, is an early-stage gold epithermal exploration target hosted in similar Los Ranchos Formation volcanic rocks as found at Barrick's Pueblo Viejo.
Precipitate Gold Corp. Announces Results and Interpretation of the Airborne Geophysical Survey Conducted over the Entire Motherlode Gold Project, Within the Burin Peninsula of Southern Newfoundland, Canada