Vancouver, B.C. – October 2, 2024 – Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG, OTCQB: PREIF) is pleased to announce results from follow up hand trench rock channel sampling, infill soil sampling and prospecting within the newly identified CN Zone at the Company’s 100% owned Juan de Herrera Project (“Juan de Herrera” and the “Project”) in the Dominican Republic.
As previously reported, results from recent rock sampling, within the large multi-element CN Zone soil anomaly, returned values including 73.8 g/t gold, 34.9 g/t gold and 11.7 g/t gold, and 8.7 g/t gold*, from selective high-grade rock grab samples (float), with more representative outcrop grab samples yielding gold values ranging 2.2 g/t to 6.3 g/t gold. Follow up exploration work in this priority area, including prospecting, rock and hand trench channel sampling, has returned the following highlight information:
CN Zone Trench Sampling Highlights:
- Three hand trenches were created and channel sampled over the gold-silica structure, returning the following highlight results:
- Trench 3: 32.2 g/t gold, 286 g/t silver over 5.1 metres
(including 38.5 g/t gold, 347 g/t silver over 4.1 metres)
- Trench 2: 1.5 g/t gold, 12.6 g/t silver over 3.0 metres, and
- Trench 1: 1.0 g/t gold, 8.8 g/t silver over 4.0 metres
- Trench 3: 32.2 g/t gold, 286 g/t silver over 5.1 metres
- The structure has a current verified strike length of about 50 metres via the three hand dug trenches and very likely exceeds this length as indicated by on-trend gold anomalous soil samples to the southeast.
- The bedrock source of gold mineralization has been identified as a silica – quartz flooded structure located on the east limit (up slope side) of the gold-in-soil anomaly. The gold enriched structure has a northwest-southeast trend and dips 40 to 50 degrees to the northeast, with an apparent width ranging from 3 to 6 metres wide.
- Follow up infill soil sampling of the CN Zone has refined the outline of the gold-in-soil anomaly to an estimated area measuring about 725 metres (north-south) by up to 300 metres (east-west), where the multi-element soil anomaly appears to be open to the southwest. Soil samples are affected by significant down slope dispersion, directed from east to west.
* Rock grab samples are selective by nature and are unlikely to represent average grades on the property.
Jeffrey Wilson, Precipitate’s President and CEO stated, “We’re excited by these latest trenching results as they further advance the newly identified CN Zone with additional validation of the zone’s potential to host significant mineralization. Highly elevated gold and silver results, including 38.5 g/t gold and 347 g/t silver over 4.1 metres adds a compelling grade component to this emerging zone. The technical team, led by Vice President, Exploration, Michael Moore has successfully progressed this, and other new zones within the project through systematic and cost-effective exploration programs. Further work will be conducted within the CN Zone and other prospective areas of the project in the coming months as the Company continues to advance and prioritize various zones at Juan de Herrera.”
Figure 1: CN Zone Geochemical map including CN Trench locations and Soil-Rock Gold results
Preliminary geological mapping indicates that the gold enriched structure is a brittle to locally ductile structure hosted in dacite volcanics rocks, at or very near an underlying limestone sediment contact. The gold-silica structure is subparallel to sediment bedding, having a northwest – southeast trend and a 40 to 50 degree northeastward dip, with an apparent width ranging from 3 to 6 metres. The structure appears to pinch out to the northwest near the sediment-dacite contact (near Trench 1) and is open to the southeast as indicated by soil sample data. Within the gold-silica structure, the dominant sulphide is strongly weathered pyrite occurring as disseminations and local centimetre scale pods or laminations. The gold enriched rock samples commonly contain elevated pathfinder elements including silver, arsenic, barium, copper, mercury, lead, antimony and zinc.
Follow up prospecting of the CN gold-in-soil anomaly in the central and south region has yet to identify mineralized float or outcropping rocks. While lithologies in these regions are analogous to the northern portion of the gold-in-soil anomaly, with volcanics (east) overlying mixed limestone and siltstones (west), a northwest trending gold-silica structure yet to be discovered.
The Company plans to continue exploration programs at the Juan de Herrera Project with work focussed on the CN and GM zones, where ongoing exploration will include additional prospecting, rock sampling, detailed geological mapping and additional selective hand trench channel sampling.
The Company’s website has additional information, maps and figures of recent and historical Juan de Herrera 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.
Rock and soil samples were bagged, sealed and delivered directly to Bureau Veritas (“BV”) preparation facility in Maimon Dominican Republic where they were dried, crushed (or sieved in the case of soils; preparation code SS80) and pulped. Sample pulps were then delivered to BV facilities in Vancouver British Columbia Canada for analyses (an ISO 9001 accredited facility). Rock samples were crushed to with more than 70% passing 2mm mesh and split using a riffle splitter (code PRP70-250). An approximately 250-gram sub-sample split was pulverized to minus 200 mesh (74μm). A 15-gram sub-split from the resulting pulp was then subjected to aqua regia digestion and multi-element ICP-ES/MS analysis (code AQ201); samples with results with gold greater than 2 g/t were subjected to a gold (and selective silver) fire assay analysis and a gravimetric finish (30 g pulp; ICP-ES finish; code FA530-Au, Ag). All coarse rejects and pulps are currently stored at BV.
About Precipitate Gold:
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
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.
