Precipitate Doubles Strike Length of Ginger Ridge Gold Zone to 2,000 Metres
Vancouver, B.C. - April 1, 2014 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG) is pleased to announce the latest results from a follow up soil and rock sampling program, completed in connection with ongoing exploration activities at the Ginger Ridge Zone within the Company's Juan de Herrera concession in the Dominican Republic.
As part of the Company's current Induced Polarization ('IP') geophysical survey at Ginger Ridge, additional soil and rock samples were collected on the expanded IP control grid. These follow-up grid-based soil and rock sampling results at Ginger Ridge have substantially expanded and refined the zone with the following notable results.
- Ginger Ridge's gold-in-soil anomaly has been extended from 1,000 metres ('m') to more than 2,000m, while remaining open to southeast;
- A robust gold-enriched multi-element central core within the anomaly has been refined to approximately 1,000m by 450m;
- Two parallel gold zones hosted within prospective Tireo volcanics have been demarked.
See the accompanying compilation map or the Company's website for the gold anomaly illustration map.
Jeffrey Wilson, Company President & CEO stated, "We are pleased with these latest sampling results from Ginger Ridge which substantially increased the size of this emerging target. The doubled strike length of the geochemical anomaly in tandem with recently announced expanded trench results substantiates the prospective nature of this zone, which is the primary focus of the Company's current IP geophysical survey. The latest sampling results, in combination with pending IP survey results, should provide sufficient technical data for management to initiate a first-phase drill program for the project."
As part of the recent geophysical grid establishment, additional soil and rock samples were collected along two grid lines to the north and four grid lines to the south (200m line intervals) off the pre-existing soil grid. The recent soil and rock sampling has extended and refined the northwest-southeast trending gold anomaly to more than 2.0 kilometres long and remains open to the southeast. The gold in soil anomaly has identified two parallel and laterally extensive gold zones hosted within what is interpreted to be steep northeastward dipping Tireo volcanic lithologies. The enriched multi-element core anomaly, centred in the control grid, is characterized by a correlation of gold and silver with several pathfinder elements which variably include arsenic, antimony, barium, lead, copper and zinc.
Surface sampling at Ginger Ridge now covers an estimated area measuring 2,200m by 750m, blanketing most of the eastern slope of Ginger Ridge. To date, 167 rock samples and 538 soil samples have been collected and analyzed. Applying the same statistical threshold used to delineate the previously reported anomaly, the gold in soil anomaly is set to greater than the 70th percentile, incorporating both rocks and soils (>242 ppb and >6 ppb gold respectively). Both grab or continuous chip rock samples were collected from weathered saprolite and rare outcrops. Soil samples are of clay weathered saprolite (depths ranging from 10 to 30 cm) and were collected on ridge-spur traverses or at regular intervals along an established grid.
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.
Rock and soil samples were bagged, sealed and delivered directly to Acme Labs preparation facility in Maimon Dominican Republic where they were dried, crushed (or sieved in the case of soils) and pulped. Sample pulps were then delivered to Acme labs facilities in Vancouver BC (an ISO 9001 accredited facility) for analyses. Samples were crushed to with up to 80% passing 2mm and split using a riffle splitter. An approximately 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. Rock results with gold greater than 1,000 ppb were subjected to fire assay analysis (30 g pulp).
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 and Sonora State, Mexico. 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 Corp.,
President & CEO
For further information, please contact:
Jeffrey Wilson, President & CEO
Toll Free: 855-558-0335
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.