Precipitate Extends Trench to 32.5 m of 1.0 g/t Gold and 18 g/t Silver as IP Geophysical Survey Continues
Vancouver, B.C. -- March 25, 2014 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG) is pleased to announce follow up trench sampling results from ongoing exploration programs at the Ginger Ridge zone within the Company's Juan de Herrera concession in the Dominican Republic.
Previously, the Company reported continuous rock chip channel (trench) sampling results from Ginger Ridge that yielded a highlight interval of 13.0 metres of 1.5 grams per tonne ('g/t') gold and 20 g/t silver, and remained open in all directions (see news release dated April 16, 2013). The latest program of hand-dug trench sampling has extended the same trench and expanded the gold zone from 13.0 metres to 32.5 metres of 1.0 g/t gold and 18 g/t silver; including 23.0 metres of 1.3 g/t gold and 22 g/t silver.
The follow-up trenching and rock chip sampling program at Ginger Ridge has returned the following results (see the accompanying map or the Company's website for a detailed trench illustration map):
- 32.5 metres of 1.0 g/t gold and 18 g/t silver (1.3 g/t gold equivalent* ('AuEq')); including 23.0 metres of 1.3 g/t gold and 22 g/t silver (1.6 g/t AuEq) in continuous rock chip channel samples; mineralization remains open to the north and weakly to the south.
- A second new trench was dug perpendicular to the initial trench in an east-west direction, bisecting the centre of the original north-south trench, and returned 15.0 metres of 1.6 g/t Au and 25 g/t silver (1.9 g/t AuEq); mineralization remains open to the west and east.
- Analyses of all 37 rock samples collected over an area measuring about 33 x 15 metres have a numerical average of 1.2 g/t gold and 27 g/t silver (1.6 g/t AuEq).
Jeffrey Wilson, Company President & CEO stated, "We are pleased with these latest results as the sampling work being reported here was initiated as an addendum to grid preparation for the IP survey that is currently underway. Field crews increased the length of the previously reported trench by 150% to over 32 metres and added a second cross-cutting trench that reported even greater length and grade than last year's original trench. The new results provide stronger evidence of a zone of robust and consistent gold-silver mineralization at Ginger Ridge. The Ginger Ridge zone continues to evolve into a compelling epithermal gold-silver target, and we're eagerly anticipating the forthcoming results of the ongoing IP geophysical survey as a final tool in delineating targets for a first-phase drill program."
Follow up hand trenching focused on the 2013 trench highlight gold zone by (a) digging extensions to the north and the south and (b) creating a new second trench roughly perpendicular (east-west) to the original trench. Continuous rock chip channel samples were collected from variably clay weathered (saprolite) dacite rocks at depths ranging from 0.2 to 0.9 metres. Analytical results show that gold-silver mineralization local to this priority trench area is open to the north, west and east. All samples, including end samples in all trenches, are weakly to strongly anomalous in gold and silver.
Early stage geological mapping at Ginger Ridge indicates that the main trench area and the aerially much more extensive gold-in-soil anomaly is underlain by variably altered intermediate volcanic Tireo formation rocks (dacitic flows and tuffs) which appear to be cut by north, northeast and eastward trending fault structures. Observed mineralization includes irregular quartz veins, veinlets and stockworks with varying pyrite (± hematite-limonite) contents up to 40% locally; alteration includes associated clay, barite, calcite and chlorite.
* Gold equivalent (AuEq) calculation: Au g/t + (Ag g/t) x (1/66). $US 20.30 silver and $US 1,335 per ounce gold = 1Ag : 66Au.
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 samples were bagged, sealed and delivered directly to Acme Labs preparation facility in Maimon, Dominican Republic where they were dried, crushed 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. 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
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.
For further information, please contact:
Jeffrey Wilson, President & CEO
Toll Free: 855-558-0335