- Precipitate Gold (PRG) has received a government permit for diamond drill testing at the Motherlode Gold Project
- The Vancouver-based mineral exploration company will be able to drill from up to 22 drill platforms at various locations within the project’s Motherlode Zone
- The Motherlode Zone hosts the project’s most notable gold mineralization, rock grab sample values up to 25.0 g/t gold and historical drill results, including 3.5 metres at 1.4 g/t gold
- Precipitate Gold Corp. (PRG) is down 7.69 per cent, trading at $0.06 per share as of 9:35 a.m. ET
Precipitate Gold (PRG) has received a government permit for diamond drill testing at the Motherlode Gold Project.
The Vancouver-based mineral exploration company will be able to drill from up to 22 drill platforms at various locations within the project’s Motherlode Zone.
Multiple holes can be collared and drilled from each platform, allowing for a significant number of possible holes. The program is expected to consist of a minimum of 2,000 metres.
The focus of the drill program will be the recently delineated induced polarization geophysical chargeability high anomalies located within the motherlode structural corridor where elevated chargeability readings reflect elevated sulphide concentration related to what the company believes to be probable gold mineralization.
The Motherlode Gold project is located within Newfoundland’s Burin Peninsula, which is a current gold exploration focus for many other junior explorationists.
The Motherlode Zone hosts the project’s most notable gold mineralization, rock grab sample values up to 25.0 g/t gold and historical drill results, including 3.5 metres at 1.4 g/t gold.
Precipitate Gold President and CEO Jeffrey Wilson said that receiving the Motherlode drill permit means the company can now proceed to test several anomalies within the prospective structural corridor.
“Of particular interest is the +500 metre long gradient chargeability high identified at depth and extending northeast from the Motherlode mineralized outcropping surface gossan, which has returned significant gold mineralization through prior sampling and historic drilling.”
Precipitate Gold Corp. (PRG) is down 7.69 per cent, trading at $0.06 per share as of 9:35 a.m. ET.
