VANCOUVER, British Columbia, Feb. 13, 2018 (GLOBE NEWSWIRE) -- Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV:PRG) is pleased to announce regionally compiled results of its near property-wide soil sampling program conducted on its 100% owned Juan de Herrera project in the Dominican Republic.
The combination of previously collected soil sampling analyses with recent XRF (X-ray fluorescence) scanning data from a nearly property-wide regional scale survey has identified numerous new and very extensive base metal anomalies (copper, lead and zinc) on the Company’s Juan de Herrera property. The Southeast and Peak-Melchor areas host some of the more significant new base-metal-in-soil anomalies, being kilometre-scale in size and open along strike in at least one direction. These and other new zones will require follow up soil sampling programs to better define the full extent of their surface expressions and assist in vectoring drill targets to identify the source of mineralization.
The soil anomalies shown on the accompanying map emphasise the dominant northwest-southeast regional stratigraphic and mineralized trends and demonstrate the extraordinary relative size and tenor of these new anomalies in comparison to others within the regional Tireo Gold Camp. See the accompanying map or Company’s website for the regional-scale soil sample figure.
Jeffrey Wilson, Precipitate’s President and CEO commented, “We’re pleased with these latest results from our extensive soil sampling survey as they once again support, and in fact expand the project’s potential to host multiple mineralized zones warranting detailed follow up and future drill testing. Identification of these base-metal-in-soil anomalies is an effective and efficient vectoring tool for identifying prospective VMS (volcanogenic massive sulphide) and epithermal styles of mineralization in the Tireo Gold Camp, as almost all significant mineralized zones within the Camp have an obvious soil anomaly signature.”
XRF soil samples were collected at a density of 25 metres by 50 metres, with over 17,000 individual soil samples collected and over 14,000 samples analyzed with a portable XRF device. Portable XRF instruments collect quality base metal and various pathfinder element data but provide limited precious metal results. All soil samples from this phase of exploration have been placed in secure storage for future work, which may include laboratory analyses, geological review or clay/alteration studies. Prior laboratory soil samples collected by Precipitate and GoldQuest Mining Corp. were collected on a wide range of densities (up to a detailed 25m x 50m) and were submitted to Bureau Veritas (“BV”) for multi-element ICP-MS analysis. Comprehensive data evaluation is ongoing and individual zone-specific detailed compilation interpretations and illustrations are anticipated in the near future.
This news release has been reviewed by Michael Moore P. Geo., 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 Tireo Gold Trend of the Dominican Republic. The Company also maintains assets in British Columbia and southeast Yukon Territory, including 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:
Precipitate Gold Corp.
Toll Free: 855-558-0335
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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.