Mr. Jeffrey Wilson reports
PRECIPITATE'S GEOLOGICAL MAPPING YIELDS EXTENSIVE IMPORTANT SURFACE SILICA ZONES AT THE PUEBLO GRANDE GOLD PROJECT IN DOMINICAN REPUBLIC
Precipitate Gold Corp. has released results and preliminary interpretations of the geological mapping survey conducted at the Loma Cuaba lithocap zone of the company's 100-per-cent-owned Pueblo Grande project, which is adjacent to Barrick's world-class Pueblo Viejo gold-silver mine, in the Dominican Republic.
The geological mapping survey has identified multiple surface exposures of untested, strong silica alteration zones, which are commonly recognized indicators and vectors for epithermal feeder structures and potentially related mineralization. Notably, many of these silica alteration zones align with, or are parallel topographic ridge trends that have similar orientations as the main mineralization structures found at, the neighbouring Pueblo Viejo gold mine.
Jeffrey Wilson, Precipitate's president and chief executive officer, commented: "We are pleased to see the prevalent presence of surface silica zones within the target area, as silica represents an important geological indicator for possible high-sulphidation, epithermal mineralization. Completion of this detailed geological mapping survey has provided us with yet another important layer of technical data to apply to our ongoing evaluation and interpretation of this extensive target area. We are now completing a comprehensive data review, with particular emphasis on our new and exciting 3-D magnetic inversion computer model. We expect the compilation of critical components of recently derived data will lead to refinement of favourable areas for delineation of drill targets in the near term."
The geological mapping survey was carried out over most of the prospective, advanced, argillic-altered Loma Cuaba lithocap zone, with the primary goals of: (i) assessing previous historical mapping studies; and (ii) providing a strong base for continuing interpretation of generated data related to lithology, alteration and structure, along with geochemical and geophysical features as important factors for drill target delineation. The geological mapping study was completed by Warren Pratt and Tom Rowe of Specialised Geological Mapping Ltd.
Initial interpretation indicates that many of the strong silica alteration zones: (i) have trends to the northwest, north and northeast, similar to the main mineralization structures at the adjacent Pueblo Viejo mine; and (ii) are often coincident with modest-strength pathfinder element geochemical rock/soil anomalies, including combinations of silver, mercury plus/minus gold, antimony, molybdenum, tellurium and selenium. Geological mapping of rock exposures shows that the Loma Cuaba lithocap zone is dominantly underlain by advanced, argillic-altered, mixed intermediate volcanic rocks with a pervasive and varied metamorphic schistosity (a postalteration penetrative deformation fabric). Additionally, exposures of younger, conformable, overlying Hatillo limestone rocks are found on the south regions of the lithocap zone and "postschistosity" dacitic intrusive rocks are observed in the western region.
This news release has been reviewed by Michael Moore, PGeo, vice-president of exploration of Precipitate Gold, the qualified person for the technical information in this news release under National Instrument 43-101 standards.
About Precipitate Gold Corp.
Precipitate 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. The company has entered into an option to purchase agreement with Golden Predator, whereby Golden Predator can earn a 100-per-cent 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.
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