Precipitate Completes Detailed Soil Sampling Program within Lithocap Zone of the Pueblo Grande Gold Project in Dominican Republic
TSX VENTURE: PRG
Vancouver, British Columbia--(Newsfile Corp. - April 11, 2019) - Precipitate Gold Corp. (TSXV: PRG) (the "Company" or "Precipitate") is pleased to announce it has completed the previously announced geochemical survey conducted within the Lithocap Zone of the Company's 100% owned Pueblo Grande Project located three kilometres west of Barrick's world-class Pueblo Viejo gold-silver mine in the Dominican Republic.
The completed geochemical surveying program represents Precipitate's first phase of field work at the newly acquired project and consisted of extensive and detailed soil sampling (more than 1,250 samples) within the highly prospective Lithocap Zone. Samples have been submitted for laboratory analysis and will be reported upon receipt. Results will be utilized to better interpret and understand the Lithocap Zone for follow up ground work, geological mapping and drill target delineation.
Jeffrey Wilson, Precipitate President & CEO, stated, "We are pleased to complete our first phase of work at the new Pueblo Grande project. Completion of this detailed geochemical survey provides the Company with greater technical data from within this large target area and assists in facilitating guidance for our next phases of ground work in advance of delineating targets for our first phase of drilling. This new geochemical data, combined with the ground magnetics and detailed geological mapping planned for the coming weeks, will provide a sound basis for plotting our initial drill targets in the months ahead."
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 Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The Company also maintains the Reef property located immediately adjacent to Golden Predator's 3 Aces Project in the Upper Hyland River area, Yukon Territory. 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:
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.