15:47:36 EDT Mon 21 Sep 2020
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Precipitate Gold Corp
Symbol PRG
Shares Issued 106,313,031
Close 2020-09-14 C$ 0.30
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Precipitate resumes exploration at Juan de Herrera

2020-09-14 10:40 ET - News Release

Mr. Jeffrey Wilson reports


Precipitate Gold Corp. is renewing exploration work on its Juan de Herrera (JDH) volcanogenic massive sulphide (VMS) gold and copper project, located within the Tireo gold camp of the Dominican Republic. The Tireo gold camp is a highly prospective geological terrain that hosts GoldQuest Mining's Romero project, Unigold's Neita/Candelones project and Newmont's La Miel project (Haiti).

The first phase of activity at Juan de Herrera will include submittal for full laboratory analysis of over 5,000 previously untested soil samples collected from multiple zones within the project. These prioritized samples have been selected from over 17,000 individual soil samples collected by the company in 2017 on 25-metre-by-50-metre spacings within multiple known areas of interest. Over 14,000 of these soil samples were previously analyzed with a hand-held X-ray fluorescence (XRF) scanner which assisted in delineating numerous zones of important base metal and pathfinder elements, but were not tested for gold and silver. Full analyses and evaluation of these newly tested samples in conjunction with existing geological and geophysical data is expected to assist in delineating and prioritizing targets for a future drilling at Juan de Herrera.

Based on results from the company's work conducted between 2012 and 2018, the Juan de Herrera project hosts an extensive collection of both advanced-stage, high-priority zones and early-stage surface rock/soil geochemical anomalies.

Juan de Herrera project highlights:

  • Ginger Ridge zone: Highlight DDH GR14-05: 13.4 grams per tonne gold over five metres within 4.5 g/t gold over 18 metres.
  • Ginger Ridge East zone: Trench, 18 m at 2.2 g/t Au, including 8.0 m at 3.52 g/t Au. Not drill tested. Highlight DDH EA17-03: 10.5 m at 0.83 g/t Au. EA17-06: 1.5 m of 3.18 per cent Zn and 0.4 per cent Cu.
  • Southeast zone: Rock sample highlight up to 13.5 per cent Cu, 0.5 g/t Au and 52.1 g/t Ag. Trench sampling 18 m at 0.7 per cent Cu, including three m at 2.78 per cent Cu.
  • South Jengibre zone: Rock sample highlight up to 5.2 g/t Au. Surface gold plus pathfinder elements plus induced polarization geophysical anomalies over an estimated 300 m by 600 m area.
  • Peak and Melchor zones: Rock sample highlight up to 7.7 g/t Au. Surface gold plus pathfinder elements plus induced polarization geophysical anomalies, with a trend exceeding 3,900 m.
  • JT zone: Rock sample highlight 3.7 g/t Au. Surface gold plus pathfinder elements plus induced polarization geophysical anomalies over an estimated 200 m x 350 m area.

Geochemical anomalies, Ginger Ridge North, Guamita, Cruz del Negro, Cienega and Aguacate

Surface rock and combined XRF and laboratory soil samples, with various results up to 0.25 g/t gold, 1 per cent copper and 845 parts per million Zn; XRF soil anomalies exceeding 1,000 m by 650 m, from five established early stage target areas.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "We are pleased to resume our exploration efforts at our Juan de Herrera project as the current precious metals environment combined with recent political developments in the Dominican Republic have compelled management to revisit the potential of this advanced exploration play as an augment to our rapidly progressing Ponton project in the central part of the country. Juan de Herrera hosts multiple advanced stage exploration targets that have been delineated by our extensive and detailed geochemical sampling (soil, rock, trenching), geophysical surveying (magnetic and induced polarization), detailed geological mapping and selective drill testing. Though drilling to date has been limited to the Ginger Ridge and Ginger Ridge East zones, Precipitate currently holds drilling permits to drill several existing and emerging zones throughout the project. We anticipate the data resulting from the pending soil sample analysis will supplement our existing data to yield compelling multi-layered anomalies, such that a substantial drill program, targeting multiple zones, could be contemplated in the months ahead; particularly at our near term drill targets at Ginger Ridge East and the southeast zones. The potential to activate our newly acquired and jointly owned drilling equipment at two projects in the months ahead in the current market environment is an exciting prospect for the company and its shareholders."

This news release has been reviewed by Michael Moore, vice-president of exploration of Precipitate Gold, the qualified person for the technical information in this news release under National Instrument 43-101 standards.

Rock grab samples are selective by nature and are unlikely to represent average grades on the property.

Core, rock and soil samples were bagged, sealed and delivered directly to Bureau Veritas (BV) 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 BV's facility (an ISO 9001-accredited facility) in Vancouver, B.C., Canada, for analyses. Samples were crushed (or sieved) with up to 80 per cent passing two millimetres and split using a riffle splitter (code PRP70-250). An approximate 250 gram subsample split was pulverized to minus 200 mesh (74 micrometres). A 15-gram subsplit from the resulting pulp was then subjected to aqua regia digestion and multielement ICP-MS analysis (code AQ201). Rock sample results with gold greater than 10,000 parts per billion were subjected to fire assay (gravimetric finish) analysis (30-gram pulp, code FA530-Au, FA530-Ag).

About Precipitate Gold Corp.

Precipitate Gold 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 is actively exploring its 100-per-cent-owned Ponton and Juan de Herrera projects. The company's Pueblo Grande project is subject to an earn-in agreement with Barrick Gold Corp., whereby Barrick can earn a 70-per-cent interest by incurring $10-million (U.S.) within six years and producing a qualifying prefeasibility study. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the company's portfolio and increase shareholder value, in the Dominican Republic and other favourable jurisdictions.

We seek Safe Harbor.

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