Precipitate Gold identifies multiple targets at Motherlode, Newfoundland
Precipitate Gold Corp. [PRG-TSXV; PREIF-OTCQB] announced the latest target refinement results derived from an expanded compilation and review of historical data from the company’s Motherlode Gold Project within the Burin Peninsula of southern Newfoundland.
Interpretation of the project’s historical surface geochemical sampling data (soil, rock, till and lake) in combination with a modern surface lineament structural study confirms and enhances at least 11 priority target areas characterized by elevated concentrations of gold and arsenic combined with underlying or nearby structural features. These attributes are important characteristics for the structurally related orogenic gold style mineralization observed at Motherlode.
None of the target zones have seen a modern ground geophysical survey, and only one zone has been drill tested in the past, by way of a shallow drill program in 2007.
In addition to the data compilation, a property-wide high sensitivity airborne magnetic-radiometric geophysical survey was recently completed. Following receipt and review of the airborne magnetic data, the company expects to commence a follow up field program of detailed sampling, geological mapping and ground geophysical surveying within prioritized areas of the project for ongoing advancement and target delineation.
Jeffrey Wilson, President and CEO, commented, “We’re pleased to complete this important compilation of existing data as a cost-effective means of advancing the project. The data derived from the first fully comprehensive digital desktop review of the Motherlode’s historical geochemical and geological data in conjunction with our structural study has refined and improved our understanding of the Project’s potential for hosting gold mineralization. We’re excited to apply the insight derived from this new data compilation with pending airborne magnetic data in identifying prospective zones for follow up groundwork and prioritizing potential drill targets.”
Historical data identifies at least 11 newly prioritized target areas characterized by elevated concentrations of gold and arsenic with underlying or nearby structural features. Select Historical sampling highlights: Rock grab samples: 25.0 g/t gold, 15.7 g/t, 11.6 g/t, 6.3 g/t and 4.5 g/t gold. Channel samples: 0.5 metres of 4.5 g/t gold, 1.5 metres of 10.1 g/t gold and 6.2 metres of 3.6 g/t gold.
The project is located within Newfoundland’s Burin Peninsula, a current gold exploration focus of many other junior explorationists with district-scale potential within the 12,350-hectare project, an estimated 16.5-km long exploration trend hosted in late Proterozoic-age Burin Group volcanic and ultramafic rocks. There is excellent year-round road access, with highway access, a high-power electrical line bisecting the project, and nearby Atlantic Ocean ports.
By way of a combination of staking and property option agreements, the company has exclusive rights to acquire a 100% interest in the project mineral exploration licenses, subject to a 1.5% and a 2.5% NSR.
The Motherlode project covers a ~16.5-kilometre-long gold exploration trend of late Proterozoic-aged Burin Group volcanic and ultramafic rocks. Exploration by Precipitate and predecessors indicates that the project’s northeastward trending Burin Group lithologies host at least eight known gold occurrences of structurally related orogenic gold style mineralization, where gold enriched quartz veins and quartz-silica stockworks are strongly associated with shears, schists and folds containing a generally low sulphide concentration.