Precipitate Doubles Strike Length of Ginger Ridge Gold Zone to 2,000 Metres
April 01 2014 - 11:00AM
Marketwired
Precipitate Doubles Strike Length of Ginger Ridge Gold Zone to
2,000 Metres
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 1, 2014) -
Precipitate Gold Corp. (the "Company" or "Precipitate")
(TSX-VENTURE:PRG) is pleased to announce the latest results from a
follow up soil and rock sampling program, completed in connection
with ongoing exploration activities at the Ginger Ridge Zone within
the Company's Juan de Herrera concession in the Dominican
Republic.
As part of the Company's current Induced Polarization ('IP')
geophysical survey at Ginger Ridge, additional soil and rock
samples were collected on the expanded IP control grid. These
follow-up grid-based soil and rock sampling results at Ginger Ridge
have substantially expanded and refined the zone with the following
notable results.
- Ginger Ridge's gold-in-soil anomaly has been extended from
1,000 metres ('m') to more than 2,000m, while remaining open to
southeast;
- A robust gold-enriched multi-element central core within the
anomaly has been refined to approximately 1,000m by 450m;
- Two parallel gold zones hosted within prospective Tireo
volcanics have been demarked.
See the accompanying compilation map or the
Company's website for the gold anomaly illustration map.
Jeffrey Wilson, Company President & CEO stated, "We are
pleased with these latest sampling results from Ginger Ridge which
substantially increased the size of this emerging target. The
doubled strike length of the geochemical anomaly in tandem with
recently announced expanded trench results substantiates the
prospective nature of this zone, which is the primary focus of the
Company's current IP geophysical survey. The latest sampling
results, in combination with pending IP survey results, should
provide sufficient technical data for management to initiate a
first-phase drill program for the project."
As part of the recent geophysical grid establishment, additional
soil and rock samples were collected along two grid lines to the
north and four grid lines to the south (200m line intervals) off
the pre-existing soil grid. The recent soil and rock sampling has
extended and refined the northwest-southeast trending gold anomaly
to more than 2.0 kilometres long and remains open to the southeast.
The gold in soil anomaly has identified two parallel and laterally
extensive gold zones hosted within what is interpreted to be steep
northeastward dipping Tireo volcanic lithologies. The enriched
multi-element core anomaly, centred in the control grid, is
characterized by a correlation of gold and silver with several
pathfinder elements which variably include arsenic, antimony,
barium, lead, copper and zinc.
Surface sampling at Ginger Ridge now covers an estimated area
measuring 2,200m by 750m, blanketing most of the eastern slope of
Ginger Ridge. To date, 167 rock samples and 538 soil samples have
been collected and analyzed. Applying the same statistical
threshold used to delineate the previously reported anomaly, the
gold in soil anomaly is set to greater than the 70th percentile,
incorporating both rocks and soils (greater than 242 ppb and
greater than 6 ppb gold respectively). Both grab or continuous chip
rock samples were collected from weathered saprolite and rare
outcrops. Soil samples are of clay weathered saprolite (depths
ranging from 10 to 30 cm) and were collected on ridge-spur
traverses or at regular intervals along an established grid.
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.
Rock and soil samples were bagged, sealed and delivered directly
to Acme Labs preparation facility in Maimon Dominican Republic
where they were dried, crushed (or sieved in the case of soils) and
pulped. Sample pulps were then delivered to Acme labs facilities in
Vancouver BC (an ISO 9001 accredited facility) for analyses.
Samples were crushed to with up to 80% passing 2mm and split using
a riffle splitter. An approximately 250 gram sub-sample split was
pulverized to minus 200 mesh (74 micron). A 15 gram sub-split from
the resulting pulp was then subjected to aqua regia digestion and
multi-element ICP-MS analysis. Rock results with gold greater than
1,000 ppb were subjected to fire assay analysis (30 g pulp).
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 WilsonPresident &
CEO604-558-0338 or Toll Free:
855-558-0335investor@precipitategold.comwww.precipitategold.com
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