VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 17, 2017) – Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSX VENTURE:PRG) is pleased to announce it has completed an extensive Induced Polarization (“IP”) geophysical survey program over multiple anomalous zones within its 100% owned Juan de Herrera project in the Tireo Gold Camp in the Dominican Republic.
The Company has completed a sizeable IP geophysical program focused on Ginger Ridge and the five target areas generated by airborne mag and last year’s first past mapping and soil and rock geochemical program that covered areas within the Juan de Herrera property known to be underlain by favourable Tireo volcanic rocks. Initiated in late September 2016 and completed in various stages, IP surveying covers the Ginger Ridge, Southeast, South Jenigbre, Peak, Melchor and JT zones. Company consultants are now processing and modelling all geophysical data and generating maps and various models as part of the interpretive process.
Jeffrey Wilson, Precipitate’s President & CEO stated, “We are pleased to have completed IP geophysical surveying on all six of our priority zones. This is a significant milestone for our exploration work in the Dominican Republic, as IP geophysics is an essential tool for gold exploration in the Tireo Gold Camp and the survey completed by the Company is the most extensive to date on the project. We are now compiling and interpreting the IP data in combination with our considerable geochemical data base and newly created detailed geological maps, as part of the ongoing process of delineating and prioritizing prospective zones for a future program of exploration drilling. Results of the ongoing interpretation and assessment work will be reported as completed.”
Property-wide, a total of 80 line kilometres have been IP surveyed, including the 2014 Ginger Ridge IP geophysical work (which consisted of gradient, pole-dipole and Insight arrays). In addition, the Company has collected ground magnetic readings from 73 line kilometres surveyed within the project; selective magnetic geophysical surveying is ongoing.
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.
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