11/21/2023 0 Comments Precipitate gold preif![]() Project lithologies are part of the major regional Dunnage Tectonostratigraphic Zone, specifically the Exploits Subzone, where claims are dominantly underlain by Ordovician-Silurian age Badger Group sediments and Botwood Group non-marine volcanics, with a general NE-SW trend and sub vertical dip. The region is part of an active gold exploration region that includes high profile gold exploration projects such as Queensway ( New Found Gold Corp), Kingsway ( Labrador Gold Corp), Dog Bay ( Exploits Discovery Corp) and Toogood ( Ethos Gold Corp). The Ace Gold Project is located on the north-central coast of Newfoundland, approximately 80 kilometers north (via combined road and hourly government vehicle ferry) from the community of Gander and its international airport. To view an enhanced version of Figure 2, please visit: ![]() This acquisition strengthens Precipitate's presence in Newfoundland as an augment to its 100% owned property assets in the Dominican Republic."įigure 2 - Ace Project Regional Mineral Showings We're additionally happy to be acquiring this project from well-regarded local prospectors and project generators, the Quinlan family, who are the underlying vendors to Ethos' Toogood project and Exploits' Dog Bay project. Minimal known sampling results from the project have returned encouraging gold grades and support the need for further exploration and targeting with a view to advancing to a first phase of drilling. ![]() The Ace project's location along geological trend from Ethos' Toogood property (and Exploits Discoveries' Quinlan Vein), positions Precipitate within favourable host rocks with significant exploration and discovery potential. Securing the rights to acquire the Ace project establishes the Company within the highly prospective Exploits Subzone geological district, which is host to multiple recent gold and base metal discoveries and known mineral deposits, including New Found Gold's Queensway project (where recent drilling reported an interval of 430.2 g/t gold over 5.25m (3)). Jeffrey Wilson, Company President & CEO stated, "We are excited to bolster Precipitate's project portfolio with another property acquisition in Newfoundland, Canada. Paved highway and high voltage electrical power lines bisects island in a north-south direction.Īccessible subdued topographical terrain, with excellent outcrop exposure on seashores and local hill tops.Īccessible by 20-minute Newfoundland government vehicle ferry departing hourly.įor reference: g/t = grams per tonne, Au = gold, m = metres. Underlain by Exploits Subzone rocks (Dunnage Zone) highly prospective lithologies that host significant gold mineralization across central Newfoundland, including Marathon Gold Corp's Valentine Project which hosts 3.14 Moz M&I at a grade of 1.72 g/t gold. Historical reported visible gold and select rock grab samples up to 164 g/t gold at the ' Change Island' mineral occurrence located about 1 kilometre to northeast of property border. Gold Mineralization, Geology, Regional Geochemistry *Īce Gold Zone: A recent new discovery of a 10-20 metre wide alteration and shear zone that trends northeast-southwest, with select grab rock samples up to 5.4 g/t gold Īce Gold Zone is situated at the northeast end of a gold enriched geological trend which includes numerous high grade gold occurrences ġ3 kilometres northeast along trend from Ethos Gold Corp's Toogood Property (reported high grade grab samples included: 7,877, 1,276, 1,113, 226 g/t Au) (1)ĩ kilometres northeast along trend from Exploits Discovery Corp's Quinlan Veins (reported sample results include: 61.3, 59.0, 14.4, 14.2, and 12.6 g/t Au) ( 1 ) ( TSXV: PRG) (OTCQB: PREIF) (the " Company" or " Precipitate") is pleased to announce it has secured exclusive rights to acquire a 100% interest in three mineral exploration licenses totalling 2,500 hectares making up the Ace Gold Project (the "Ace Project" or the "Project") located at the northern end of the Exploits Subzone (Dunnage Tectonic Zone) of north-central Newfoundland, Canada. October 12, 2021) - Precipitate Gold Corp. Vancouver, British Columbia-(Newsfile Corp.
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