VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 15, 2016) – Precipitate Gold Corporation (the “Company” or “Precipitate” or “PRG”) (TSX VENTURE:PRG) is pleased to announce the commencement of regional exploration work on its Juan De Herrera Project in the Dominican Republic.
The Company has started a property wide exploration program on its Juan de Herrera Project, where more than 10 new target areas have been identified for follow up work. The integrated Precipitate and GoldQuest Mining satellite, geochemical and magnetic geophysical Tireo Gold Trend databases have outlined a number of high priority locations for Company exploration.
Field crews will be focusing on areas that have compelling gold or copper values from previously collected stream sediment or rock grab samples gathered in areas which are underlain by magnetic anomalies, all within the favoured Tireo volcanic rock units (see attached map). Particularly notable gold in stream sediment anomalies report values of 55 ppb, 224 ppb and 272 ppb, with a number in the 12 to 39 ppb range. For reference, sediment sampling in 2003 from GoldQuest Mining’s Romero South and Loma Viejo Pedro occurrence areas show gold anomalies ranging 12 to 42 ppb and 32 to 99 ppb, respectively; and early 2013 Ginger Ridge Zone stream sediment samples yielded gold values from 7 to 17 ppb. Company field crews will also follow up on a 200 metre long gold in soil contour anomaly and two areas with elevated copper in rock grab samples. Work will include gridded and ridge-spur soil sampling, detailed stream sediment sampling and prospecting.
Precipitate’s President & CEO, Jeffrey Wilson stated, “We are very pleased to commence follow up field work on the Juan de Herrera project of the Dominican Republic’s Tireo Gold Trend. The merged Precipitate/GoldQuest technical dataset, which covers more than 50 kilometers of the Tireo Gold Trend, is now paying off by guiding our field staff directly and efficiently to prospective areas. It is encouraging to see that in addition to the Ginger Ridge Zone, we have a number of very strong surface gold anomalies providing high priority targets for immediate work. Several of these new target areas boast highlight sample numbers substantially greater than any highlight samples reported from known zones, such as Romero, Romero South, and Ginger Ridge. By using the same exploration methods and technical crew that lead to the discovery of the Ginger Ridge Zone, we are optimistic that these additional project areas could yield compelling exploration results and delineate additional future drill targets.”
Precipitate’s core objective for this phase of work is to identify and discover new mineralized zones for near term detailed surface geochemical sampling and IP geophysical surveying with the potential to generate new drill test targets, as a compliment to the Ginger Ridge zone.
This news release has been reviewed and Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Persons for the technical information in this news release under NI 43-101 standards.
Rock and stream sediment samples were bagged, sealed and delivered directly to Acme Labs preparation facility in Maimon Dominican Republic where they were dried, crushed (or sieved in the case of soils) and pulped. Sample pulps were then delivered to Acme Labs facilities in Vancouver, BC (an ISO 9001 accredited facility) for analyses. Samples were crushed to with up to 80% passing 2mm and split using a riffle splitter. An approximately 250 gram sub-sample split was pulverized to minus 200 mesh (74µ). A 15 gram sub-split from the resulting pulp was then subjected to aqua regia digestion and multi-element ICP-MS analysis. Rock results with gold greater than 1,000 ppb were subjected to fire assay analysis (30 g pulp).
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend of the Dominican Republic. The Company also maintains assets in northern British Columbia and southeast Yukon Territory and is actively evaluating additional high-impact property acquisitions with the potential to expand the Company’s portfolio and increase shareholder value.
Additional information can be viewed at the Company’s website www.precipitategold.com.
On Behalf of the Board of Directors of Precipitate Gold Corp.,
Jeffrey Wilson, President & CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company”) current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.