Precipitate's Surface Sampling Extends Geochemical Trace North Over Ginger Ridge Chargeability Anomaly
Vancouver, B.C. - January 28, 2015 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG) is pleased to announce results from surface rock sampling collected in December 2014 during the Phase 2 induced polarization ("IP") geophysical survey at the Ginger Ridge Zone within the Company's Juan de Herrera project in the Dominican Republic.
During the second phase of IP geophysical surveying at Ginger Ridge field staff collected 96 surface rock grab samples over the surface projection of the new northern extension of the chargeability high anomaly, extending from grid line 10 to line 2; an estimated distance of 850 metres ("m") north of the Company's highlight discovery drill hole 5 ("Hole 5"). Highlights from the rock surface sampling program include:
- Mineralization and/or alteration is predictable and traceable on surface overlying the target chargeability high anomaly;
- Anomalous gold and related pathfinder elements define an expanded NW-SE geochemically anomalous trend measuring about 1.2 kilometres ("km") long;
- The strongest and widest IP chargeability portion of the chargeability anomaly, between lines 6 and 9 (a distance of 300m), is coincident with locally robust surface pyrite/silica mineralization and elevated gold and base metal values in analytical results; and
- Together, the new rock sampling and IP results suggest that mineralization between lines 6 and 9 is near surface and has a similar tenor as a gold anomalous pyrite-rich interval in the upper portion of Hole 5 (located 60m south of line 10).
See the accompanying figure and the Company's website for additional compilation illustrations.
Jeffrey Wilson, Company President & CEO stated, "We are pleased with the surface rock sampling results collected during our Phase 2 IP survey, as they provide an important additional detail to the Ginger Ridge narrative. The latest sample results in combination with previous surface sampling, IP surveying, and the discovery of mineralization reported in Hole 5 provide a compelling and enlarged target for a follow up expansion and delineation drill program. We now have an estimated 1,200 metre surface geochemical anomaly that is coincident with the main IP chargeability anomaly. Surface observations and geochemical tenor of rock samples in the area between lines 6 and 9 are consistent with the anomalous zone (21 metres of 0.62 g/t gold with anomalous copper and other pathfinders) that lies at the top of the 98.5 metre interval of disseminated to massive sulphides in Hole 5."
Focused rock grab sampling was carried out by following the surface projection of the IP chargeability high anomaly in a northwest direction from line 10 to line 2. When combined with earlier surface geochemical samples, an estimated 1,200m long gold (plus other pathfinder elements) anomaly has been delineated; starting from the main trench at line 14 to the northern limit of sampling program north of line 2. Observations by Company technical staff report that these recently collected Tireo volcanic rock samples display local clusters of strong silica alteration and highly elevated pyrite concentrations (fine grain disseminations up to 35% locally). In general, rock samples collected from siliceous and pyritic outcrops typically report elevated values in gold and other pathfinder elements (such as arsenic, antimony, bismuth and base metals). Analytical results for the December rock grab samples report values ranging from nil to a high of 1.8 grams per tonne gold (from a sample collected north of line 2). Rock samples collected between lines 6 and line 9, the area underlain by most of the strongest and widest IP chargeability anomaly, show locally robust surface pyrite/silica mineralization and coincidently elevated gold and base metal analytical values. Together, these new rock samples and the IP survey results suggest that mineralization between lines 6 and 9 is near surface and has a similar geochemical tenor as a gold anomalous pyrite-rich interval in the upper portion of Hole 5 (located 60m south of line 10).
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. All rocks were subjected fire assay for gold analysis (30 g pulp).
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 Corp.,
President & CEO
For further information, please contact:
Jeffrey Wilson, President & CEO
Toll Free: 855-558-0335
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