Precipitate Reports 83.6 g/t Gold over 1.0m Extending the CN Zone's Gold-Enriched Structure to over 285 metres, at the Juan de Herrera Project, Dominican Republic
Vancouver - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG, OTCQB: PREIF) is pleased to announce results of additional surface mapping and hand trench rock channel sampling, within the recently identified CN Zone at the Company's 100% owned Juan de Herrera Project ("Juan de Herrera" or the "Project") in the Dominican Republic. See accompanying figure and photos below. Follow up exploration work on the priority CN Zone area has significantly expanded the gold-enriched surface structure over a distance of 285 metres ('m'). Laboratory results from select rock grab samples and two new hand trenches within the CN Zone, T4 and T5, have yielded highly anomalous gold values up to 83.6 g/t gold and 29.0 g/t silver over 1.0m. The gold enriched structure remains open to the south as indicated by a sizeable on-trend multi-element soil anomaly. Follow up trenching and sampling to test for the possible continuation of the gold-enriched structure is ongoing. Highlight results from the latest work at the CN Zone are as follows:
CN Zone Highlights
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To date, five hand trenches have been established and channel sampled on the gold-enriched structure, with the latest two trench results reporting as follows
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Trench 5: 83.6 g/t Au, 29.0 g/t Ag over 1.0m and 0.13 g/t Au over 7.0m
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Trench 4: 0.2 g/t gold, 2.1 g/t silver over 1.0m
Previously reported CN Zone trench results returned:
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Trench 3: 32.2 g/t gold, 286.0 g/t silver over 5.1m, (including 38.5 g/t Au, 347.0 g/t Ag over 4.1m
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Trench 2: 1.5 g/t gold, 12.6 g/t silver over 3.0m
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Trench 1: 1.0 g/t gold, 8.8 g/t silver over 4.0m
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The gold enriched structure has a current verified strike length of approximately 285 metres via the five hand dug trenches (Trench 1 to Trench 5) and likely exceeds this length as indicated by on-trend gold anomalous soil samples to the south. The structure has a northwest-southeast trend and dips about 50 degrees to the northeast, with an apparent width ranging from 0.5 to 6.0 metres.
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Rock grab samples collected between Trench 4 and Trench 5, a distance of 210 metres, have reported gold values ranging from 0.1 to 4.5 g/t*, suggesting intervening continuity of gold mineralization and providing targets within the known structure for additional hand trenching.
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The gold enriched structure is located on the east limit (up slope side) of the gold-in-soil anomaly which covers an estimated area measuring about 725 metres (north-south) by up to 300 metres (east-west). Soil samples are affected by significant down slope dispersion, directed from east to west.
Jeffrey Wilson, Precipitate's President and CEO stated, "We're pleased that ongoing sampling at the CN Zone continues to advance and expand this newly identified gold target. The consistency of mineralization along this extensive structure, combined with multiple high-grade gold sample results speaks to the ongoing potential of this newly discovered zone as an emerging target area within an already highly prospective property package. The ability to add the CN Zone as an augment to previously identified zones throughout the project, evidences the Juan de Herrera project's prospectivity for ongoing exploration and possible discovery. We look forward to continuing our work at the project and reporting additional results as they become available."
Figure 1: CN Zone Geochemical map including CN Trench locations and Soil-Rock Gold results
Photo 1: Hand trench rock channel sampling within the CN Zone of the Juan de Herrera Project
Photo 2: Locally sourced field crew for mapping and sampling at the Juan de Herrera Project
Geological mapping indicates that the gold enriched structure has a brittle to locally ductile character and is hosted in mixed volcanics rocks (dacite and andesite), at or very near an underlying limestone sediment contact. The gold+silica structure is subparallel to sediment bedding, having a northwest - southeast trend and a 50 degree northeastward dip (ranging 40 to 70 degrees), with an apparent width ranging from 0.5 to 6.0 metres. The structure appears to pinch out to the northwest near the sediment-dacite contact (near Trench 1) and is open to the southeast as indicated by soil sample data. Within the gold+silica structure, the dominant sulphide is strongly weathered pyrite occurring as disseminations and local centimetre scale pods or laminations. The gold enriched rock samples commonly contain elevated pathfinder elements including silver, arsenic, barium, copper, mercury, lead, antimony and zinc.
The Company continues to explore certain zones within the Juan de Herrera Project with near term work focussed on the CN and Southeast zones, where ongoing exploration will include additional prospecting, rock sampling, detailed geological mapping and additional selective hand trench channel sampling.
The Company's website has additional information, maps and figures of recent and historical Juan de Herrera project data.
* Rock grab samples are selective by nature and are unlikely to represent average grades on the property.
For reference: g/t = grams per tonne, Au = gold, m = metres, millivolts per volt = mv/v, IP = induced polarization
This news release has been reviewed by Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards.
Rock and soil samples were bagged, sealed and delivered directly to Bureau Veritas ("BV") preparation facility in Maimon Dominican Republic where they were dried, crushed (or sieved in the case of soils; preparation code SS80) and pulped. Sample pulps were then delivered to BV facilities in Vancouver British Columbia Canada for analyses (an ISO 9001 accredited facility). Rock samples were crushed to with more than 70% passing 2mm mesh and split using a riffle splitter (code PRP70-250). An approximately 250-gram sub-sample split was pulverized to minus 200 mesh (74?m). A 15-gram sub-split from the resulting pulp was then subjected to aqua regia digestion and multi-element ICP-ES/MS analysis (code AQ201); samples with results with gold greater than 2 g/t were subjected to a gold (and selective silver) fire assay analysis and a gravimetric finish (30 g pulp; ICP-ES finish; code FA530-Au, Ag). All coarse rejects and pulps are currently stored at BV.
About the Juan de Herrera Project:
The Juan de Herrera Project is owned 100% by Precipitate Gold Corp. and comprised of approximately 12,706 hectares located immediately adjacent to GoldQuest Mining's Romero gold-copper project within the Upper Cretaceous aged package of volcanic and sedimentary Tireo Gold Formation in San Juan Province of Dominican Republic. The project hosts intermediate sulphidation epithermal and VMS style exploration targets. Work to date, including extensive project wide geochemical and geophysical surveying and limited diamond drilling, has delineated and outlined multiple anomalous zones of gold and/or copper mineralization warranting additional exploration and drilling. Approximately 5.0 million gold equivalent ounces have been discovered and advanced in the Tireo Formation belt in the last decade, while vast areas of similarly prospective and proximal terrain, such as that situated within Precipitate's Juan de Herrera project, remain largely underexplored.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The Company has entered into an Earn-In Agreement with Barrick Gold Corp., whereby Barrick can earn a 70% interest in the Company's Pueblo Grande Project by incurring US$22M within 10 years and producing a qualifying Pre-feasibility Study. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value, in other favourable jurisdictions.
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
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com
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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