VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 24, 2017) - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSX VENTURE:PRG) is pleased to announce completion of an extensive and detailed soil sampling program throughout the southern portion the Company's 100% owned Juan de Herrera project in the Dominican Republic.
As part of a substantial ongoing property wide detailed soil sampling program, field crews have collected approximately 8,500 new soil samples from within the southern portion of the project and are now analyzing the samples with a portable XRF (X-ray fluorescence analyzer). Sampling covers the Southeast, South Jengibre, Peak and Melchor zones where geochemical anomalies had previously been delineated by sparse and uneven sampling coverage. Additional sampling is ongoing, with crews now focusing on multiple areas to the north and northwest of Ginger Ridge, as crews execute on our objective to complete property-wide sampling coverage by December of this year. See the accompanying map or the Company's website for the detailed soil sample location figure.
Jeffrey Wilson, Precipitate's President and CEO commented, "Over the past month and half our Dominican field crews have been very busy collecting detailed soil samples; working expeditiously to survey an extensive area in a short amount of time. Collectively, the XRF results for new soil samples, plus the earlier geochemical sample results, along with induced polarization ("IP") and magnetic geophysical survey data will assist in outlining any compelling multi-layered anomalies that exist throughout the JDH Property. To truly appreciate the scale and scope of this sampling program, I encourage readers to view the accompanying map to get a true sense of the sampling density. Given the known northwest/southeast trending nature of mineralized zones in the region, it's additionally compelling to note the relationship between several Precipitate zones and those recently noted by GoldQuest as emerging targets within its project area. As we increase our ongoing exploration, we expect to identify additional potential drill targets within this portion of the project, augmenting our existing drill targets at Ginger Ridge East and the Southeast Zones such that a more substantial drill program, targeting multiple zones, could be contemplated in the months ahead."
The purpose of the property wide detailed soil sampling program is to rapidly and cost-effectively compile an additional layer of geochemical data. The derived XRF data will further facilitate the identification of new target areas and refine the scope of known zones; in particular areas of alteration and/or mineralization related to Volcanogenic Massive Sulphide ("VMS") and Epithermal-Gold deposit models. Within the current survey, samples are being collected at a density of 25 metres by 50 metres and analyzed with a portable XRF analyzer by Company technicians to identify a selection of anomalous samples to forwarded to the laboratory for analyses. Portable XRF instruments collect quality base metal and various pathfinder element data, but limited precious metal results. All soil samples from this phase of exploration will be placed in secure storage for future analyses. Results of the comprehensive soil sampling program will be disclosed as they become available and are interpreted.
This news release has been reviewed by Michael Moore P. Geo., Vice President, Exploration of Precipitate Gold Corp., the Qualified Person for the technical information in this news release under NI 43-101 standards.
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 British Columbia and southeast Yukon Territory, including the Company's Reef property located immediately adjacent to Golden Predator's 3 Aces Project in the Upper Hyland River area. The Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also 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.
