Precipitate Commences Phase-two Geophysical Surveys at Ginger Ridge
Vancouver, B.C. -- December 03, 2014 - Precipitate Gold Corporation (the "Company" or "Precipitate") (TSXV: PRG) is pleased to announce it has commenced ground geophysical surveying at the Ginger Ridge Zone within the Company's 100% owned Juan de Herrera project in the Tireo Gold Camp in the Dominican Republic.
A follow up ground geophysical program of magnetic and induced polarization ("IP") surveying has been initiated by the Company at Ginger Ridge. These two surveys will initially cover the +600 metre long corridor, which extends northwest from the recently announced gold discovery in drill hole 5, and success contingent, could include additional untested areas along the Ginger Ridge geochemical anomaly. The Company's recently announced discovery hole (hole 5) yielded a gold highlight interval of 13.4 g/t gold over 5.0 metres, within an interval of 98.1 metres (starting at 24.9 metres depth) of strongly disseminated, semi to massive pyrite (core measured interval, the true width is not known). The discovery hole represents a gold-enriched semi to massive sulphide body with VMS style affinities and provides an important signature and targeting tool for the next phase of work.
Jeffrey Wilson, Precipitate's President & CEO stated, "We're excited to be able to get back to work at Ginger Ridge with additional IP and magnetics surveying as, to date, geophysics has proven to be a critical exploration tool at Ginger Ridge and throughout the region. The correlation between the gold mineralization and geophysical anomalies coincident in our recent discovery hole provides an important signature and modelling tool for better vectoring of future drill targets. Equipped with this newly discovered signature, this detailed follow-up program of IP and magnetics allows the Company to expand and refine current targets while exploring for additional similar signatures elsewhere within Ginger Ridge."
Michael Moore, VP Exploration of the Company and Qualified Person for purposes of National Instrument 43-101 has reviewed the technical information in this news release.
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 northern 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 Corporation,
President & CEO
For further information, please contact:
Jeffrey Wilson, President & CEO
Tel: 604-558-0335 Toll Free: 855-558-0335 email@example.com
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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.