Precipitate Engages Geological Consultant Dr. Stewart Redwood for Review and Recommendations on New Pueblo Grande Project, Dominican Republic
Vancouver, B.C. – December 11, 2018 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG) is pleased to announce it has engaged independent geological consultant Dr. Stewart D. Redwood for project review and preparation of a geological report and recommendations on the Company's newest property acquisition, the Pueblo Grande Project in the Dominican Republic.
Dr. Redwood is a renowned economic geologist, having worked for numerous mining and exploration companies in over 35 countries around the world, with a specific focus and expertise within Latin America. During his 30+ year career, Dr. Redwood has authored multiple technical reports and published papers in Economic Geology and other journals and has authored (or co-authored) 11 reports on Dominican Republic geology and ore bodies, including the Pueblo Viejo gold deposit located immediately adjacent to Precipitate's new Pueblo Grande Project in central Dominican Republic. Several of Dr. Redwood's published reports on Pueblo Viejo and its surrounding areas were co-authored by other notable geological consultants, including Richard Sillitoe, David Hall, and Precipitate Director, Alistair Waddell.
Jeffrey Wilson, Precipitate President & CEO, stated, "We are thrilled to engage Dr. Redwood to review, evaluate, and provide recommendations on our newly acquired Pueblo Grande Project. As we complete the transaction to acquire a 100% interest in the ground and embark on our first phases of work, Dr. Redwood's geological expertise and extensive experience in and around the Pueblo Viejo region will provide a substantial benefit for Precipitate in understanding the geological setting of the project and implementing our near-term plans and long-term objectives for this prospective new landholding. Combining Dr. Redwood's intimate understanding of the neighbouring Pueblo Viejo deposit and surrounding regional geological and structural characteristics with our newly attained historic project data package, will provide our technical team with invaluable guidance to identify and prioritize areas within our large new land package for detailed initial ground work leading to drill target delineation."
In the early 2000's Dr. Redwood served as the first President & CEO of GoldQuest Mining, where he worked extensively exploring and evaluating multiple projects throughout the Dominican Republic.
Stewart Redwood, BSc (Hons), PhD, FIMMM, FGS specializes in minerals exploration and project evaluation. He has a degree in geology from Glasgow University (1982) and obtained his Ph.D. from Aberdeen University (1986) for his work on the gold and silver deposits of Bolivia. Over the course of his career, Dr Redwood has worked for the British Geological Survey, was the Director of Exploration for Mintec S.A., the largest mining consulting company in Bolivia, worked at Metall Mining Corporation / Inmet Mining Corporation as a Project Geologist then a Senior Geologist in South and Central America, including secondment to the Antamina copper and zinc project in Peru, where he supervised the reserve drilling program for the feasibility study that increased mineable reserves fourfold to 500 million tonnes grading 1.2% copper and 1.0% zinc, and was Chief Geologist South America for AngloGold Ltd. (now AngloGold Ashanti).
Dr. Redwood is a Fellow of The Institute of Materials, Minerals and Mining (FIMMM), a Fellow of the Geological Society of London (FGS), a Fellow of the Society of Economic Geologists, and a Member of the Geological Society of America. The FIMMM is recognized as a Qualifying Person under Canadian NI 43-101 rules.
Full details of Dr. Redwood's credentials, work history and published reports can be found on his website at sredwood.com.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its two district scale landholdings in the Dominican Republic's two most significant mining and exploration camps, specifically its flagship Pueblo Grande Project immediately adjacent to Barrick's world-class Pueblo Viejo mine operation, and its Juan de Herrera Project adjacent to GoldQuest's Romero Project. The Company also maintains assets in southeast Yukon Territory, specifically the Company's Reef property located immediately adjacent to Golden Predator's 3 Aces Project in the Upper Hyland River area. The Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also 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:
Tel: 604-558-0335 Toll Free: 855-558-0335 firstname.lastname@example.org
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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.