Majagual Hill
Project work completed by past operators includes both property-wide reconnaissance scale exploration and detailed follow up work on two of the three surface geochemically anomalous zones identified on the Project. The three notable exploration zones are (i) Copey Hill, an epithermal gold target, (ii) Majagual Hill, a copper-gold porphyry target (tested in 2017 with five diamond drill holes) and (iii) a broad area of early stage rock and stream sediment anomalies, which require follow up investigation.
The Ponton project hosts a robust, 1.2 km-diameter epithermal gold anomaly, the Copey Hill target, with no history of drilling," commented Quinton Hennigh, Director of Precipitate Gold. "Given its close proximity to the world class Pueblo Viejo mine operated by Barrick, it is astonishing such a target has not yet been tested, especially given the fact this system is hosted by the same prospective host rocks, the Los Ranchos Formation. Based on the existing available data, the Company's initial assessment suggests the Copey Hill anomaly possesses the geochemical characteristics to host a significant untested epithermal target and warrants accelerated advancement toward a first phase of drill testing.