Precipitate Re-Commences Field Work over Multiple New Prospects at Juan de Herrera Project in the Dominican Republic
Vancouver, B.C. -- May 25, 2016: Precipitate Gold Corporation (the "Company" or "Precipitate" or "PRG") (TSXV: PRG) is pleased to announce the commencement of follow up exploration on its Juan De Herrera Project in the Dominican Republic.
The Company has initiated follow-up geochemical sampling that will cover five (5) newly identified early-stage geochemically anomalous zones hosted within favourable Tireo volcanic lithologies (see Company news release dated May 10, 2016). These new target areas are part of an expanding and developing prospective regional mineral trend that cuts through several portions of Precipitate and GoldQuest Mining Corp's Tireo Gold Camp landholdings (see attached map for details).
Precipitate's field work will include prospecting and detailed follow-up grid and ridge-spur soil sampling of multiple new anomalously mineralized areas which show similar geochemical and geophysical characteristics to known mineralized zones throughout the region. Of particular interest is the recently identified South East Zone, which measures approximately 1.4 kilometers in length and shows many geological similarities to the Company's Ginger Ridge Zone located along trend only six (6) kilometres to the northwest. Additionally, in light of GoldQuest Mining's recently reported results from its Loma El Cachimbo zone (located about 2.5 kilometres northwest of Precipitate Gold's Ginger Ridge discovery) the Company is also contemplating re-evaluation and possible local field work around and along trend from the Ginger Ridge discovery area.
Precipitate's President & CEO, Jeffrey Wilson stated, "We are pleased to commence the next phase of work on the five new anomalies as they represent immediate opportunities for Precipitate to enhance Juan de Herrera's potential through the possible delineation of additional drill worthy targets to augment the Ginger Ridge discovery zone. The advancement of these targets in tandem with GoldQuest's recent announcement of the new Loma El Cachimbo prospect and its reported high-grade rock grab samples located near PRG's Ginger Ridge Zone, reinforces our belief in the Tireo Gold Camp as an emerging, underexplored gold district with numerous gold and copper prospects that have the potential to host meaningful mineralization over a regionally significant trend."
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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