VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 9, 2017) – Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSX VENTURE:PRG) is pleased to announce results from recent continuous rock chip channel hand sampling at the Ginger Ridge East Zone at the Company’s 100% owned Juan de Herrera Property in the Dominican Republic.
The Company has received laboratory results for continuous rock chip channel samples collected from two new trenches located within the Ginger Ridge East Zone, with a Trench 6 highlight interval of 18.0 metres (“m”) of 2.20 grams per tonne (“g/t”) gold including 4.0m of 3.95 g/t gold. Mineralization is currently open in both trench sampling directions and results for 32 follow up channel samples, for 64m of sampling, are pending. Laboratory results also show elevated copper, lead and zinc values, replicating the multi-element character of the surrounding soil anomaly. See the accompanying map or the Company’s website for the Ginger Ridge East Trench location map.
Highlight continuous rock chip channel results from the two latest trenches sampled at the East anomaly are as follows:
- Trench 5: 5.5m of 0.25% zinc including 2.0m of 0.5% zinc; and
- Trench 6 (partial): 18.0m of 2.20 g/t gold, including 8.0m of 3.52 g/t gold, or 4.0m of 3.95 g/t gold.
The true width of the mineralised intervals is uncertain as the orientation of mineralization observed to date is not fully understood.
Jeffrey Wilson, Precipitate’s President & CEO stated, “We’re excited about these latest trench sampling results as they underscore the prospective nature of the Ginger Ridge East zone. Results from Trench 6 are encouraging as they represent richer gold grades over greater lengths than any prior trench results reported from this, or any other zone within the project. The continued presence of copper, lead and zinc accompanying elevated gold values is in-keeping with the characteristics previously identified in this area. With additional samples from each end of trench 6 now submitted for analysis and drill assay results forthcoming, we’re optimistic about the ongoing potential of this emerging new area.”
Continuous rock chip channel samples were collected from two incised creeks within the main target area. Sample results from Trench 6 identified an interval of significant gold values which is currently open in both directions. A recent follow up sampling program collected additional continuous rock chip samples, extending Trench 6 sampling 36m to the northeast and 28m to the southwest from the initial work, for a combined total sampling extent of 82m. In advance of receiving the pending East Zone analyses, field crews have mobilized to the southern portion of the project to the Southeast, South Jengibre, Peak and Melchor zones to complete follow up detailed soil sampling, rock chip sampling and focused prospecting to advance these zones for possible drilling.
Rock and soil samples were bagged, sealed and delivered directly to the Bureau Veritas (“BV”) preparation facility in Maimon Dominican Republic where they were dried, crushed (or sieved in the case of soils) and pulverized. Sample pulps were then delivered to BV facilities in Vancouver BC (an ISO 9001 accredited facility) for analyses. Samples were crushed (or sieved) to with up to 80% passing 2mm and split using a riffle splitter (code PRP70-250). An approximate 250 gram sub-sample split was pulverized to minus 200 mesh (74 μ). A 15 gram sub-split from the resulting pulp was then subjected to aqua regia digestion and multi-element ICP-MS analysis (code AQ201). Rock sample results with gold values greater than 500 ppb were subjected to fire assay (ICP-ES finish) analysis (30 g pulp; code FA330-Au).
This news release has been reviewed by Michael Moore P. Geo., Vice President, Exploration of Precipitate Gold Corporation, 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 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.
