Vancouver, B.C. – August 26, 2024 – Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG, OTCQB: PREIF) is pleased to announce results from an initial follow up program of prospecting and sampling within multiple newly identified gold-in-soil anomalies within its 100% owned Juan de Herrera Project (“Juan de Herrera” and the “Project”) in the Dominican Republic.
As previously reported, results from recent soil and rock sampling identified eight new zones of elevated gold and/or base metals (copper, lead and zinc) anomalies within the Juan de Herrera Project. As follow up, crews commenced a more detailed program of sampling and mapping within these new zones and the latest results have outlined two zones of near-term priority interest, the CN zone and the GM Zone. To date the CN zone has emerged as a top priority based on its elevated gold grades, geological affinities, and overall size.
CN Zone
Selective high grade rock grab samples (float) with very strong iron oxides (after pyrite) and silica-quartz yielded values of 73.8 g/t gold, 34.9 g/t gold, 11.7 g/t gold, and 8.7 g/t gold*, with more representative outcrop grab samples yielding values ranging from 2.2 to 6.3 g/t gold. Located within the north-central region of the Project area, rock and soil sampling has demarked an area measuring about 700 metres (north-south) by up to 300 metres (east-west), where the multi-element soil anomaly is open to the north and south. Thirteen of the 31 rock samples collected to date (float-subcrop and three outcrop) report anomalous to highly anomalous gold values, with associated pathfinder elements silver, arsenic, barium, copper, mercury, lead, antimony and zinc. The soil and rock float samples are affected by significant down slope dispersion, directed from east to west, measuring at least 200-metre displacements. * Rock grab samples are selective by nature and are unlikely to represent average grades on the property.
GM Zone
Seven of the 21 rock samples (float/subcrop and one outcrop) report anomalous gold values, including 4.3 g/t gold and 1.4 g/t gold, with associated pathfinder elements of arsenic, copper, selenium, lead and zinc. Located at the northern end of the Project area, rock and soil sampling has outlined an area measuring approximately 450 metres (northwest-southeast) by up to 250 metres (southwest-northeast) where the multi-element soil anomaly is open to the north and the east. Here too, the soil and rock float samples are affected by down slope dispersion, directed from north to south, measuring at least 50-metre displacements.
Recently received analytical results from over 8,000 soil samples submitted to the lab had identified eight new zones of elevated gold and/or base metals (copper, lead and zinc) anomalies within the Juan de Herrera Project. Field crews recently returned to these anomalous zones to conduct follow up prospecting and sampling within these areas to better determine their geological potential and to prioritize the zones for follow up work.
The Company has initiated a follow up program at the CN, GM and CdN zones, where exploration work will include additional prospecting, rock sampling, infill and extension soil sampling, coarse geological mapping and where warranted, selective hand trench channel sampling.
The Company’s website has additional information, maps and figures of recent and historical Pueblo Grande project data.
* Rock grab samples are selective by nature and are unlikely to represent average grades on the property.
For reference: g/t = grams per tonne, Au = gold, m = metres, millivolts per volt = mv/v, IP = induced polarization
This news release has been reviewed by Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person 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 Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The Company has entered into an Earn-In Agreement with Barrick Gold Corporation, whereby Barrick can earn a 70% interest in the Company’s Pueblo Grande Project by incurring US$10M within six years and producing a qualifying Pre-feasibility Study. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company’s portfolio and increase shareholder value, in other favourable jurisdictions.
Additional information can be viewed at the Company’s website www.precipitategold.com.
On Behalf of the Board of Directors of Precipitate Gold Corp.,
“Jeffrey Wilson”
President & CEO
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com
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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.
