Precipitate Identifies Several Multi-Element Soil Geochemical Anomalies at the Pueblo Grande Gold Project in Dominican Republic
TSX VENTURE: PRG
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2019) - Precipitate Gold Corp. (TSXV: PRG) ( "Precipitate" or the "Company") is pleased to announce results of the detailed infill geochemical soil sampling survey conducted within the Loma Cuaba 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 detailed infill soil sampling program conducted within the highly altered Loma Cuaba Lithocap Zone has identified and refined numerous multi-element anomalies of surface mineralization within the target zone; several of which have an important northwest trend. Northwest trending geological structures at the neighbouring Pueblo Viejo gold mine frequently host high-grade feeder-style gold mineralization. See the accompanying map or the Company's website (www.precipitategold.com) for the Loma Cuaba soil anomaly illustration map.
Highlight results are as follows.
- The largest northwest trending multi-element soil geochemical anomaly exceeds 2,000 metres ("m") in length, by 400m width, and is open to the southeast, projecting from the eastern property boundary shared with the Pueblo Viejo mine site;
- Soil anomalies contain elevated gold, silver, molybdenum, copper, zinc and lead values, with important pathfinder elements associated with high-sulphidation epithermal systems, such as arsenic, antimony, mercury, selenium and tellurium. Soil anomalies on the north portion of Loma Cuaba have a stronger base metal signature;
- Many of the northwest trending soil anomalies are coincident with silica enriched (erosion resistant) topographic high ridges, which provide clear linear early stage exploration targets; and
- Historical drilling has tested only small portions of these large soil anomalies, or in some cases not at all, leaving large areas prospective for future drill testing.
Jeffrey Wilson, Precipitate's President & CEO stated, "We are very pleased that our first phase of field work within this highly prospective zone has identified and refined numerous multi-element soil anomalies enriched with many of the important elements commonly associated high sulphidation epithermal mineralization. The infill soil sampling program provides us with an important layer of high-resolution data that will greatly assist with our ongoing geological interpretation of the Loma Cuaba Lithocap Zone. We look forward to augmenting this new geochemical data with pending results from our ground magnetic survey and geological mapping program as we compile critical components for plotting our initial drill targets in the months ahead."
Detailed soil sampling now encompasses an area measuring about 3.3km by 2.6km covering much of the prospective Loma Cuaba Lithocap alteration zone. The recent infill soil samples augment the historical samples with an updated soil sampling dataset collected at 50m intervals along east-west oriented grid lines at 100m line intervals, resulting in a current soil sample density for most of the prospective target area of 50m by 50m. The multi-element soil anomalies outline overlapping clusters of anomalous element zones, which collectively demark the multi-element anomalous regions of modest strength (with local spot high values). Anomalies are defined by element values exceeding the 80th percentile as follows: gold (14.3 ppb), silver (91 ppb), arsenic (27.0 ppm), antimony (0.9 ppm), copper (46.4 ppm), lead (14.0 ppm), zinc (13.5 ppm), mercury (138 ppb), molybdenum (4.6 ppm), selenium (8.1 ppm) and tellurium (1.2 ppm).
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.
Soil samples were bagged, sealed and delivered directly to Bureau Veritas ("BV") preparation facility in Maimon Dominican Republic where they were dried, sieved and pulped. Sample pulps were then delivered to BV facilities in Vancouver BC (an ISO 9001 accredited facility) for analyses. Samples were sieved to with up to 80% passing 2mm and split (code SS80). A 15 gram sub-split from the resulting pulp was then subjected to aqua regia digestion and ultra-trace multi-element ICP-MS analysis (code AQ251).
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
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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.