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Precore Gold MagDrone Survey Defines Kilometer-Scale Gold and Copper-Gold Porphyry Systems Along Major Andean Structure at Arikepay, Peru
New high-resolution magnetic model strengthens geological targeting across and beyond Arikepay’s historically drilled gold-copper envelop
VANCOUVER, British Columbia, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Precore Gold Corp. (CSE: PRCG) (the "Company" or "Precore Gold") is pleased to report results from the high-resolution drone magnetic survey (“MagDrone”) that was recently completed (see press release dated September 16, 2026) at its flagship, the Arikepay Gold-Copper Project (“Arikepay” or the “Project”), located in southern Peru.
MagDrone Highlights
Firstly, the 3D magnetic susceptibility model shows a high susceptibility response over the previously interpreted 400 m wide x 3 km long gold bearing envelope, hosted in a quartz diorite porphyry.
This magnetic response is much wider than the initially interpreted auriferous envelope, which was solely based on historic drilling.
The expanded prospective area for gold now represents an area of 800 m wide x 3 km long, elongated according to the Andean structural trend. Only 3 historic drill holes were drilled in this expanded area and outside of the gold envelope.
Secondly, the 3D magnetic susceptibility model outlines a sizeable central area of reduced magnetism coincident with the phyllic alteration zone of the Cu-Au quartz felspar porphyry. The extent of this zone is some 2 km x 1 km with only a dozen drill holes completed historically. Furthermore, historically wide spacing up to 500 m in some places offers significant exploration potential.
Two similar low-mag responses occur to the northeast and southwest, thus offering exploration potential for Cu-Au porphyry mineralization.
Finally, the mag survey identified a 1.5 km long, N-S elongated mag response just east of the main Cu-Au porphyry. The only historic drill hole in this zone cut a fine-grained diorite porphyry that returned 0.24% Cu over 111 m (AK-DDH-09-16) in a vertical hole. This additional magmatic phase demonstrates the multi-phase character of the Arikepay complex. Magnetic mafic porphyry is frequently host to Au porphyry style mineralization. This 1.5 km long x 300 m wide target warrants drilling.
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Figure 1. MagDrone survey at the Arikepay Project; the magnetic susceptibility map at 200-meter depth perspective.
The new magnetic data provides Precore with its clearest view to date of the geological architecture beneath the Arikepay Project. Most importantly, the survey has outlined a major northwest-trending contact between contrasting rock units, an extensive set of cross-cutting southwest-northeast structures, and broad zones where magnetic response has been reduced. Deep Sounding Exploration Geophysics (“Deep Sounding”), which completed and interpreted the survey, considers these reduced-magnetic areas to be potentially related to oxidation and/or hydrothermal alteration of the igneous rocks. Magnetic data does not directly detect gold or copper; however, these structural and alteration patterns can help focus follow-up exploration toward areas considered more prospective for mineralization.
Paul A. Dumas, Executive Chairman of Precore Gold, commented, “These results have significantly increased our excitement about the potential of our upcoming drill campaign at Arikepay. Most importantly, our geological team has now expanded the prospective gold area from the previously interpreted 400-metre-wide zone to approximately 800 metres wide by 3 kilometres long. That is a very large area, and much of this expanded footprint has seen little to no historical drilling. The MagDrone survey has now given us a much better picture of just how much larger the mineralized system could potentially be and, importantly, where we should be looking next.”
Why the 200-Meter Model Matters The 200-metre-depth model is especially useful for exploration planning because it suggests that the interpreted alteration signature is not limited to surface expression. The MagDrone results describe central and western cells as demagnetized and interprets this as potentially reflecting hydrothermal alteration. In many mineral systems, hydrothermal fluids can alter magnetic minerals in the host rock and reduce their magnetic response. This is not evidence, by itself, of gold or copper mineralization, but it provides a valuable vector that can be tested against geology, geochemistry and, ultimately, drilling.
The eastern and southeastern parts of the model contain more strongly magnetic bodies interpreted as comparatively fresh subvolcanic material. This contrast between potentially altered and fresher rocks gives Precore another tool for mapping the possible footprint and boundaries of the hydrothermal system.
Next Steps
In the coming weeks, Precore geologists will initiate a full review and relog of the historical core and chips in order to build in-house knowledge of the deposits and provide a strong basis for the planning of the drill program. Precore is considering an induced polarization (“IP”) survey using 100-metre dipoles, designed for investigation to approximately 600 metres depth, with survey lines oriented southwest-northeast across the principal northwest-trending contact. The timing of this survey is to be determined. The Company will evaluate if it can be conducted before the beginning of the drilling program in order to take advantage of the camp that will be installed.
Precore will continue to integrate MagDrone results with historical drilling, ongoing geological work and other available datasets to prioritize targets for its planned inaugural drill campaign.
About the Arikepay Project
Arikepay is located in the Arequipa region of southern Peru and covers approximately 1,800 hectares. The Project hosts a multiphase mineralized intrusive complex within the Cretaceous porphyry belt of southern Peru. Historical drilling totals 13,738 metres in 32 holes. Previously reported intercepts include 420 metres grading 0.91 g/t gold, 1.16 g/t silver and 0.04% copper from 30 metres in AK-DDH-02-17, including 81 metres grading 3.17 g/t gold, 2.12 g/t silver and 0.07% copper from 342 metres. Readers are cautioned that historical results are not necessarily indicative of future results.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, P.Eng (OIQ #107538), Director & Lead Technical Advisor of Precore Gold, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Precore Gold Corp.
Precore Gold is a Canadian junior gold exploration company focused on building a solid portfolio of exploration projects with strong gold discovery potential, in order to capture the strength of the gold market and to generate long-term shareholder returns. The Company is focused on its flagship properties, the Arikepay property in Arequipa, Peru and the Lac Big-Rush property in Chibougamau, Quebec. The Company plans to seize opportunities whereby promising properties are located in prolific mining camps, in politically stable jurisdictions, that contain important historical drilling results that have not seen any follow-up work in years. Precore Gold's mission is underpinned by diligent environmental, social and corporate governance (ESG) standards.
For shareholder inquiries, please contact:
Paul A. Dumas, Executive Chairman Email: investor@precoregold.com Tel: 514-994-1069 www.precoregold.com
Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the completion of the Second Tranche, future geological work or exploration programs, the potential positive exploration results, the timing of the exploration results, the ability of the Company to finance exploration programs and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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