![]() ![]() ![]() Although Precipitate wants to do its own drill targeting work, management was impressed enough to start the drill permitting process two months ago. PRG immediately decided to design a follow up program to properly map the area and extend the soil grid. The area within the anomaly displayed classic signs of the upper reaches of an epithermal system at surface including broad areas of argillic alteration, silica flooding and quartz veining with open spaced and cockscomb textures, indicative of a near-surface low temperature environment. That visit, while short, immediately elevated Copey Hill as a potential target. Whatever the case, PRG personnel did not get most of the Ponton data cleaned up (that’s still in progress, actually) until recently and didn’t get on the ground there until a field visit in December. And perhaps the fact that past workers chose not to drill at Copey lowered its priority level too. The areas immediately surrounding PV received priority when it came to importing, cleaning and integrating historic data, which was a very large job in itself. Precipitate concentrated its efforts and money there for the past year. The main reason for acquiring ground in the region was to get access to the area immediately surrounding Pueblo Viejo. So why wasn’t Copey focused on sooner by PRG? In simple terms, it wasn’t the reason for the Everton deal. One of the first things PRG wants to do is expand the soil grid in that direction to close the anomaly off. ![]() The anomaly is roughly 1 by 1.2 kilometres in size and is still open to the NE. The anomaly is defined by Gold, its common fellow traveler Arsenic, as well as by Antimony and Mercury, both volatile elements often associated with the upper level of epithermal systems. You can see the obvious strong multi-element anomaly that defines Copey Hill as a target. The maps are small scale here and harder to read (much better versions on the company website) but they get the point across. The target PRG will concentrate on is Copey Hill, and it’s easy to see why based on the geochem maps reproduced below. Majagual generated only middling drill results and doesn’t hold a lot of interest for me. I think that was due to copper being more in vogue at the time, and perhaps a simple preference for the porphyry model by EVR’s technical crew. It’s the porphyry target that received most of the follow up attention by EVR and all of the drill budget. The broad soil surveys that generated the gold target also generated a copper porphyry target 2.5 km to the northeast, Majagual. I remember Ponton from back then, but Everton’s focus was never gold targets. HRA followed predecessor Everton way, way back in the day. That increases my level of interest in the geochemical target outlined in the release and, frankly, makes it a bigger head scratcher why past workers didn’t drill test it. Ponton is mainly underlain by the same rocks and PV. The green outlines are the surface outline of the Los Ranchos formation, the volcanic sequence that hosts Pueblo Viejo. The map below shows the location of Ponton relative to Pueblo Grande and the Pueblo Viejo and other regional mines. Precipitate clearly isn’t out of targets yet. While there are still traders who feel stung by the recently announced Pueblo Grande JV, I think today’s news about Ponton makes the decision by PRG’s board to JV Grande easier to understand. Precipitate Gold (PRG-V, PRIEF-OTC, up 2 cents on 1.23 million shares at $0.145) gave its Ponton project a proper introduction in a news release this morning. sĮxtracted from HRA Special Delivery #924 - Apr 23, 2020
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