- Precipitate Gold Corp. (PRG) has begun a diamond-drilling program at the company’s Motherlode Gold Project in Newfoundland
- The drill campaign will involve a minimum of 2,000 metres of diamond drilling from up to 22 permitted drill platforms within the Project’s perspective Motherlode Zone
- The program is designed to test multiple induced polarization (IP) geophysical chargeability high anomalies located within the Motherlode Structural Corridor
- The Motherlode Zone hosts the project’s most notable gold mineralization
- Precipitate Gold Corp. is a mineral exploration company
- Precipitate Gold Corp. was unchanged at $0.06 at 1:56 PM ET
Precipitate Gold Corp. (PRG) has begun a diamond-drilling program at the Motherlode Gold Project in Newfoundland.
The drill campaign will involve a minimum of 2,000 metres of diamond drilling from up to 22 permitted drill platforms within the Project’s perspective Motherlode Zone.
Multiple holes can be drilled from each platform, allowing for a significant number of possible holes and flexibility to adjust drill targeting as the program progresses.
The program is designed to test multiple induced polarization (IP) geophysical chargeability high anomalies located within the Motherlode Structural Corridor, with planned hole depths ranging from 70 to 300 metres.
“Our groundwork to date has successfully delineated favourable geological shear structures and coincident IP geophysical anomalies, which are potential hosts for gold mineralization. Drilling by prior operators reported gold mineralization within the Motherlode Zone but failed to intersect any of the newly identified chargeability anomalies identified in our recent IP survey,” noted Jeffrey Wilson, Precipitate’s President and CEO.
“The potential to drill-test those anomalies now offers to precipitate an exciting opportunity at discovery,” he added.
The primary focus of the drilling program will be testing the recently delineated IP geophysical chargeability high anomalies located within the ‘Motherlode Structural Corridor’.
The estimated three-kilometre-long northeast trending Motherlode Structure Corridor hosts structurally-related orogenic gold style mineralization, where gold-enriched quartz veins-stockworks are associated with an anastomosing series of quartz-sericite shears and faults with sub-vertical to steep northwest dips, containing low pyrite and arsenopyrite sulphide concentrations.
The Motherlode Zone hosts the project’s most notable gold mineralization and related surface colour gossan identified to date, with rock grab sample values up to 25.0 g/t gold and historical drill results, including 3.5m at 1.4 g/t gold.
Precipitate Gold Corp. is a mineral-exploration company focused on exploring and advancing its mineral property interests in Newfoundland and the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic.
Precipitate Gold Corp. was unchanged at $0.06 at 1:56 PM ET.