Vancouver, British Columbia--(Newsfile Corp. - August 17, 2021) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the "Company" or "Precipitate")
is pleased to announce it has secured, by a combination of staking and
property option agreements, exclusive rights to acquire a 100% interest
in mineral exploration licenses totalling 12,350 hectares making up the Motherlode Gold Project (the "Motherlode Project" or the "Project") located within the Burin Peninsula of southern Newfoundland, Canada.
Motherlode Project Highlights: *
Select Historical Sampling Results
- High grade gold 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
- Trench/Channel Results: 0.5m of 4.5 g/t Au, 1.5m of 10.1 g/t Au, 6.2m of 3.6 g/t Au (incl. 0.9m of 7.7 g/t Au)
- 2007 Diamond Drill Results (8 holes, 902m): 0.7m of 3.2 g/t Au, 10.4m of 0.82 g/t Au, 1.5m of 2.8 g/t Au
Gold Mineralization, Geology, Regional Geochemistry
- 11 historical mineral occurrences, including 8 gold showings;
- District-scale potential within an estimated 16.5-kilometre-long exploration trend hosted in late Proterozoic-age Burin Group volcanic and ultramafic rocks;
- Major northeast trending, sub-vertical dipping shear-fault zones up to 30 metres wide;
- Gold enriched quartz veins and quartz-silica stockworks are strongly associated with 'high strain' rocks (i.e. shears, schists, folds) with a generally low pyrite content;
- Project regional government till, lake & stream sample geochemistry anomalies include gold, arsenic, antimony, copper, nickel and zinc.
