Precipitate Commences Induced Polarization (IP) Survey at Ginger Ridge Zone in Dominican Republic
February 18 2014 - 11:00AM
Marketwired
Precipitate Commences Induced Polarization (IP) Survey at Ginger
Ridge Zone in Dominican Republic
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 18, 2014) -
Precipitate Gold Corp. (the "Company" or "Precipitate")
(TSX-VENTURE:PRG) is pleased to announce it has initiated a ground
Induced Polarization ("IP") geophysical survey at the Company's
100% owned Juan de Herrera project in the Dominican Republic.
Insight Geophysics Inc. ("Insight") has been contracted to
conduct the survey and crews have commenced grid line cutting and
ground preparations in advance of the project's maiden geophysical
survey. Crews will establish a control grid over the project's
Ginger Ridge Zone, where the Company's previous surface work
outlined a gold-rich geochemical anomaly measuring 1,000 metres by
400 metres and yielded highlight rock grab sample values up to 11.8
grams per tonne ("g/t") gold and 100 g/t silver, as well as a 13.0
metre continuous channel sample that returned 1.5 g/t gold and 20
g/t silver, open in both directions.
Precipitate's President & CEO, Jeffrey Wilson stated "We're
excited to commence this program, as induced polarization
geophysical surveying has proven to be an effective exploration
technique at other projects within the Tireo volcanic belt. It was
an important targeting tool at other notable recent discoveries
within the Tireo belt, particularly those of GoldQuest Mining and
Unigold Inc. We're pleased to be working with Insight on this
important next phase of exploration work at our Juan de Herrera
concession, as its local experience and expertise offers
Precipitate an advantage in data compilation aimed at identifying
anomalies and delineating possible drill targets."
Insight's IP survey will measure the relative chargeability and
resistivity of underlying rock and highlight areas that may contain
higher sulphide and/or resistive silica concentrations. Previous
work in the Tireo belt, by Insight and others confirmed a
correlation between high chargeability and sulphide mineralization
at the Romero and Candelones discoveries. The attached map shows
the approximate outline of the proposed grid to be emplaced in
relation to existing soil geochemical anomalies and grab/channel
sample results at Ginger Ridge. IP surveying will start near the
centre of the grid and can be expanded based on interpretation of
results as they are generated. The survey is expected to provide a
greater understanding of the subsurface mineralization and geometry
and assist in prioritizing targets for follow up trenching and/or a
first-phase drill program.
Michael Moore, VP Exploration of the Company and Qualified
Person for purposes of National Instrument 43-101 has reviewed the
technical information in this news release.
Note: Rock grab samples are selective by nature and are unlikely
to represent average grades on the property.
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 and Sonora State,
Mexico. The Company also maintains assets in northern British
Columbia and southeast Yukon Territory and is 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.,
Jeffrey Wilson, President & CEO
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.
Precipitate Gold Corp.Jeffrey Wilson604-558-0335 or Toll Free:
855-558-0335investor@precipitategold.comwww.precipitategold.com
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