Announcement Date: 2023-02-14
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Precipitate Gold Corp.
Project name: Motherlode
Location: Canada
Commodities: Gold
Highlight: Drilling results incl. 12.10m at 1g/t Au from 91.40m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, B.C. – February 14, 2023 – Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG, OTCQB: PREIF) is pleased to announce results from its fall 2022 diamond drill program comprised of 2,716 metres of drilling in 12 drill holes from the Company’s Motherlode Gold Project (“Motherlode” or the “Project”) located within the Burin Peninsula of southern Newfoundland, Canada. Highlight core sampling results include drilled intercepts yielding 12.1 metres of 1.0 gram per tonne gold (hole ML22-03), including 3.0m of 2.2 g/t Au and 4.5m of 0.94 g/t Au (hole ML22-04), including 3.5m of 1.07 g/t Au. Though modest in thickness and grade, these results support a reinterpretation of the Motherlode Zone’s gold mineralization model type from the originally postulated orogenic gold model to a low sulphide replacement style model. The latest drill program tested an area less than one third of the more than threekilometer-long Motherlode structural corridor, leaving much of the corridor open for possible future drilling, should the Company elect to test the reinterpreted model. See the table below of highlight core sample results and the accompanying maps and figures.
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