Precipitate Completes Regional Field Work at Juan de Herrera in the Dominican Republic
Vancouver, B.C. -- April 20, 2016: Precipitate Gold Corporation (the "Company" or "Precipitate" or "PRG") (TSXV: PRG) is pleased to announce the completion of an extensive regional exploration program on its Juan de Herrera project within the Tireo Gold Trend in the Dominican Republic.
On March 15, 2016, the Company announced the commencement of a field program aimed at testing multiple newly identified prospective target areas within the Company's Juan de Herrera project. These new targets emerged from the Company's data sharing collaboration with GoldQuest Mining Corp. and the Company's recent airborne geophysical survey over land acquired since Precipitate's Ginger Ridge discovery. Multiple underexplored zones with favorable coincident geological, geophysical, and geochemical signatures were selected for further evaluation.
During the month-long field program, crews completed a combination of gridded and ridge-spur soil sampling, detailed stream sediment sampling, prospecting, and geological mapping over several prospective zones and collected a combined total of 1,545 soil, rock, and stream sediment samples for analysis. Ground verification of airborne magnetic geophysical data has shown magnetics to be an effective tool for distinguishing prospective volcanic lithologies, particularly dacite, andesite and rhyolite rocks.
Precipitate's President & CEO, Jeffrey Wilson stated, "It was great to get back in the field and be able to apply targeting intelligence attained through our own work and the data collaboration with GoldQuest, particularly over new concession areas staked in 2014. Insights gained from the collaboration have saved Precipitate valuable time and expense by expediting our exploration efforts and focusing on the most prospective ground within our project. Given the geological and geophysical characteristics already evidenced over these newly sampled zones, the pending analytical results should provide significant guidance and identify priority targets for follow-up as we seek additional drill-worthy targets to augment the Ginger Ridge discovery."
With this phase of property-wide prospecting and geological mapping now complete, technical staff will compile incoming data and refine interpretations. Analytical results from the recently completed program will be reported as they become available. Zones reporting anomalous mineralization within favorable geology will be prioritized for follow-up exploration as soon as practical. The next phase of ground work over selected targets will include a combination of detailed geochemical sampling, trenching, and ground geophysical surveying to generate potential drill targets in any new areas of interest.
This news release has been reviewed and Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Persons for the technical information in this news release under NI 43-101 standards.
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
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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