Precipitate Extends Trench to 32.5 m of 1.0 g/t Gold and 18 g/t Silver as IP Geophysical Survey Continues
25 März 2014 - 4:00PM
Marketwired
Precipitate Extends Trench to 32.5 m of 1.0 g/t Gold and 18 g/t
Silver as IP Geophysical Survey Continues
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 25, 2014) -
Precipitate Gold Corp. (the "Company" or "Precipitate")
(TSX-VENTURE:PRG) is pleased to announce follow up trench sampling
results from ongoing exploration programs at the Ginger Ridge zone
within the Company's Juan de Herrera concession in the Dominican
Republic.
Previously, the Company reported continuous rock chip channel
(trench) sampling results from Ginger Ridge that yielded a
highlight interval of 13.0 metres of 1.5 grams per tonne ('g/t')
gold and 20 g/t silver, and remained open in all directions (see
news release dated April 16, 2013). The latest program of hand-dug
trench sampling has extended the same trench and expanded the gold
zone from 13.0 metres to 32.5 metres of 1.0 g/t gold and 18 g/t
silver; including 23.0 metres of 1.3 g/t gold and 22 g/t
silver.
The follow-up trenching and rock chip sampling program at Ginger
Ridge has returned the following results (see the accompanying map
or the Company's website for a detailed trench illustration
map):
- 32.5 metres of 1.0 g/t gold and 18 g/t silver (1.3 g/t gold
equivalent* ('AuEq')); including 23.0 metres of 1.3 g/t gold and 22
g/t silver (1.6 g/t AuEq) in continuous rock chip channel samples;
mineralization remains open to the north and weakly to the
south.
- A second new trench was dug perpendicular to the initial trench
in an east-west direction, bisecting the centre of the original
north-south trench, and returned 15.0 metres of 1.6 g/t Au and 25
g/t silver (1.9 g/t AuEq); mineralization remains open to the west
and east.
- Analyses of all 37 rock samples collected over an area
measuring about 33 x 15 metres have a numerical average of 1.2 g/t
gold and 27 g/t silver (1.6 g/t AuEq).
Jeffrey Wilson, Company President & CEO stated, "We are
pleased with these latest results as the sampling work being
reported here was initiated as an addendum to grid preparation for
the IP survey that is currently underway. Field crews increased the
length of the previously reported trench by 150% to over 32 metres
and added a second cross-cutting trench that reported even greater
length and grade than last year's original trench. The new results
provide stronger evidence of a zone of robust and consistent
gold-silver mineralization at Ginger Ridge. The Ginger Ridge zone
continues to evolve into a compelling epithermal gold-silver
target, and we're eagerly anticipating the forthcoming results of
the ongoing IP geophysical survey as a final tool in delineating
targets for a first-phase drill program."
Follow up hand trenching focused on the 2013 trench highlight
gold zone by (a) digging extensions to the north and the south and
(b) creating a new second trench roughly perpendicular (east-west)
to the original trench. Continuous rock chip channel samples were
collected from variably clay weathered (saprolite) dacite rocks at
depths ranging from 0.2 to 0.9 metres. Analytical results show that
gold-silver mineralization local to this priority trench area is
open to the north, west and east. All samples, including end
samples in all trenches, are weakly to strongly anomalous in gold
and silver.
Early stage geological mapping at Ginger Ridge indicates that
the main trench area and the aerially much more extensive
gold-in-soil anomaly is underlain by variably altered intermediate
volcanic Tireo formation rocks (dacitic flows and tuffs) which
appear to be cut by north, northeast and eastward trending fault
structures. Observed mineralization includes irregular quartz
veins, veinlets and stockworks with varying pyrite (±
hematite-limonite) contents up to 40% locally; alteration includes
associated clay, barite, calcite and chlorite.
* Gold equivalent (AuEq) calculation: Au g/t + (Ag g/t) x
(1/66). $US 20.30 silver and $US 1,335 per ounce gold = 1Ag :
66Au.
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 samples were bagged, sealed and delivered directly to Acme
Labs preparation facility in Maimon, Dominican Republic where they
were dried, crushed 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 (74μ). A 15
gram sub-split from the resulting pulp was then subjected to aqua
regia digestion and multi-element ICP-MS analysis. 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.
Jeffrey WilsonPresident & CEOTel: 604-558-0338Toll Free:
855-558-0335investor@precipitategold.com
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