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Be the first with the news that moves the market- Precipitate Gold Corp (TSXV:PRG) has advanced off-site work on its Ponton Project in the Dominican Republic
- A review of historic data on the site has allowed Precipitate to identify an anomaly on the site, which could be up to 1200 metres long and 1000 metres wide
- The company has been restricted to desk work due to the coronavirus pandemic, but hopes to being field work as soon as restrictions lift
- Precipitate Gold (PRG) is up 6.45 per cent and is trading at $0.16 per share
Precipitate Gold (TSXV:PRG) has advanced off-site work on its Ponton Project in the Dominican Republic.
The work identified a number of targets on the project, which lies approximately 20 kilometres from Precipitate’s flagship Pueblo Grande project.
The Vancouver based junior miner has been examining the site’s Copey Hill zone. However, coronavirus restrictions have ceased on-site operations at the zone.
Therefore, Precipitate has been reviewing the historical surface geochemical data, which includes soil, rock and stream samples.
The work has shown an anomaly on the site, which stretches up to 1200 metres by 1000 metres, and remains open to the north east.
Jeffrey Wilson, the President and CEO of Precipitate said he was pleased that the company had been able to advance work on the project despite coronavirus restrictions.
“The Copey Hill Epithermal Gold zone is evolving in the right direction as this final compilation and interpretation of the historic surface geochemical sampling data reinforces our belief that the zone reflects a near surface epithermal gold system.
“Refining the specific scope and characteristics of these anomalies allow the company’s technical team to effectively formulate plans for follow up exploration.
“Copey Hill provides the company and shareholders wth an highly prospective gold exploration target with drill-worthy anomalies, in an area of excellent access and logistics,” he said.
Copey Hill has never been drill tested, but the company is working towards a drill program for the site.
The company has stated that once coronavirus restrictions are relaxed in the Dominican Republic, it will immediately commence fieldwork at the site.
Precipitate Gold (PRG) is up 6.45 per cent and is trading at $0.16 per share.
