Precipitate Completes Data Review and Delineates Multiple Drill Targets for Pueblo Grande Project in Dominican Republic
TSX VENTURE: PRG
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2019) - Precipitate Gold Corp. (TSXV: PRG) ("Precipitate" or the "Company") is pleased to announce it has completed an extensive program of data compilation and review and has delineated and prioritized multiple highly prospective target areas for drill testing within the Company's Loma Cuaba Lithocap Zone at its 100% owned Pueblo Grande Project adjacent to Barrick's world-class Pueblo Viejo gold-silver mine in the Dominican Republic.
Eight distinct drill target areas have been selected within the Lithocap area, based on detailed review of all geological, geophysical and geochemical data available to the Company. These prospective areas evidence certain geological and/or geophysical characteristics commonly associated with high-sulphidation epithermal and in one case porphyry style mineralization, including a combination of a geophysical magnetic inversion low anomaly, favourable host rock or structure, silica/clay alteration and rock-soil geochemical anomalies. See figure 1 or the website at www.precipitategold.com
Jeffrey Wilson, Company President & CEO stated, "We are pleased to complete our extensive data compilation and review and successfully establish multiple key zones for our maiden phase of drilling at these largely untested target areas. Our in-house technical teams have worked diligently to understand the geological and geophysical affinities of this large lithocap area in order to vector efforts toward the most prospective locations for drill testing. The relative proximity of these targets to the adjoining Pueblo Viejo mining operation makes this a very compelling opportunity to establish and conduct, in the weeks and months ahead, a meaningful first phase of drilling. Additionally, the Company's field staff has initiated a program of prospecting and stream sediment sampling on the east portion of the Pueblo Grande property; a region where there is no pre-existing sampling or modern geological data."
Drill target delineation and prioritization are based on critical technical characteristics which include a varying combination of a magnetic inversion low anomaly (possible magnetite destruction), silica and clay alteration (particularly high temperature clays such as alunite & advance argillic facies), permeable/reactive volcanic host rock or possible structure, prominent topographic linear, coincident surface soil-rock geochemical anomalies, nearby anomalous historical drill hole results and proximity to the Pueblo Viejo property's concealed Arroyo Hondo exploration target. Of the eight drill targets, five are classified as primary priority, being near surface and/or having a unique mix of important vectoring attributes.
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. 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.