VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 20, 2017) – Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSX VENTURE:PRG) is pleased to announce results from its recent hand-trench sampling program within 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 channel samples collected from four hand-dug trenches located within the Ginger Ridge East Zone, with a highlight interval of 16.0 metres (“m”) of 1.1 grams per tonne (“g/t”) gold including 4.0m of 2.27 g/t gold. Trenching results also show elevated silver, lead and zinc values, replicating the multi-element character of the overlying soil anomalies. In addition to gold, zinc values are also highly anomalous with highlight intervals of 10.0m of 0.18% zinc (Trench 1) and 18.0m of 0.16% zinc (Trench 3); separated by approximately 180 metres. See the accompanying map or the Company’s website for the Ginger Ridge East Trench location map.
Highlight hand trenching results on the East anomaly within the Ginger Ridge Zone are as follows:
- Trench 1: 16.0m of 1.12 g/t gold including 4.0m of 2.27 g/t gold within a broader 24.0m of 0.80 g/t gold; also 10.0m of 0.18% zinc;
- Trench 2: 8.0m of 0.64 g/t gold; also 48.0m of 0.11% zinc, including 12.0m of 0.16% zinc; 12.0m of 21.8 g/t silver;
- Trench 3: 4.0m of 0.59 g/t gold, also 16.0m of 0.28 g/t gold; 10.0m of 0.17% zinc and 18.0m of 0.15% zinc; and,
- Trench 4: 24.0m of 0.45 g/t gold, 6.0m of 13.7 g/t silver and 6.0m of 0.17% zinc
* The true width of the mineralised intervals is uncertain as the orientation of mineralization observed to date is not fully understood.
Jeffrey Wilson, Company President & CEO stated, “We are pleased that our preliminary trenching has confirmed the multi-element tenor of the extensive and robust East Zone soil anomaly. The density of our previous soil sampling within the zone indicated consistent and robust mineralization in the soils throughout the anomaly. Although current trenching only sampled a small portion of the broader (1,000m by 100m) soil anomaly, we are pleased once again with the consistencies and seeming continuity of mineralization identified in this limited selection of trench sample results. It’s equally compelling to note that Trench 4 is located beyond the limits of the initial soil anomaly near its current northwest extent, evidencing the zone’s potential to be increased and/or expanded through ongoing future work. Results from the trenching have provided valuable information which will greatly assist with the targeting for the ongoing drill program.”
Geological mapping shows the East Zone soil anomaly to be underlain by northwest trending intermediate to felsic volcanic rocks (ash, lapilli and fragmental tuffs) with an estimated dip of 45 to 60 degrees northeast, which are overlain by andesite-basalt volcanics to the east. The eastern limit of the gold-in-soil anomaly closely maps the contact between the underlying mineralized intermediate volcanics and the andesite-basalt rocks. The amygdaloidal andesite-basalt rocks show pervasive chlorite-epidote-quartz, with disseminated magnetite-pyrite.
Trenches 1 to 3 are located in the southeast portion of the lengthy multi-element East Zone soil anomaly, while the smallest trench 4 is located about 80 metres north of a barite occurrence at the northwest end of the anomaly. Collectively the trench channel sampling includes 322 metres of sampling or 161 samples at two metre sample widths. Sampling exposures were predominantly variable saprolitized rock. Sampling of “fresh” (unweathered) material in the region generally requires drilling, which will begin shortly within this zone as part of the ongoing drill program.
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 (74μ). 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 1,000 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.,
President & CEO
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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.
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