Results from Precipitate Gold’s (TSXV:PRG; OTC:PREIF) fall 2022 diamond drill program are in, totalling over 2,700 metres of drilling in 12 holes from the company’s Motherlode gold project located within the Burin Peninsula of southern Newfoundland.
Highlight core results include drilled intercepts yielding 12.1 metres of 1.0 g/t gold and 3.0 metres of 2.2 g/t gold at hole ML22-03. Hole ML22-04 boasted 4.5 metres of 0.94 g/t gold, including 3.5 metres of 1.07 g/t gold.
The latest drill program tested an area less than one third of the more than 3.0 km-long Motherlode structural corridor, leaving much of the corridor open for possible future drilling, should the company elect to test the reinterpreted model. The company says 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.
Michael Moore, Precipitate’s vice-president, exploration said the company has been “aggressively” exploring the Motherlode project, since April of last year.
“While these drill results are short of our high grade gold aspirations, drill data has resulted in an interesting reinterpretation of the Motherlode zone’s gold mineralization model type, where the previously postulated orogenic gold model has now been amended to a low-sulphide replacement style. Consequently, much of the untested Motherlode structural corridor may have potential to host lower grade bulk tonnage style gold mineralization. We are now reviewing and assessing the merit of additional drill testing along the corridor’s trend,” Moore said.
To learn more, visit www.precipitategold.com.
April 25, 2024
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