Welcome!

News Feed Item

Precipitate Commences First-Phase Drill Program at the Ginger Ridge Zone in the Dominican Republic

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/28/14 -- Precipitate Gold Corp. (the "Company" or "Precipitate") (TSX VENTURE:PRG) is pleased to announce the commencement of a first-phase drill program at the Ginger Ridge gold zone within the Company's 100% owned Juan de Herrera project in the Tireo Gold Camp in the Dominican Republic.

The drill and crews have been mobilized to site and the Company's maiden drill program at Ginger Ridge is now underway. The program will total approximately 1,200 metres ("m") of diamond drilling and consist of 6 to 8 holes aimed at testing priority near-surface target areas within the central core of the Ginger Ridge gold geochemical anomalies. Drilling will be carried out by Energold Drilling Corp., utilizing the same type of man-portable hydraulic drill rig that has been successfully utilized elsewhere in the region, with minimal environmental footprint.

Initial drilling will focus on the main trench zone and associated geophysical chargeability and multi-element geochemical soil anomalies, with subsequent holes testing target areas on strike to the northwest and southeast. Multiple coincident induced polarization ("IP") and multi-element soil geochemical anomalies exist within the 800 m long central core of the Ginger Ridge zone and drilling will test several of these targets over the course of the expected 4 to 6 week program.

Jeffrey Wilson, Company President & CEO stated, "We are excited at the prospect of initiating this drilling program at the Ginger Ridge zone. Our work to date, including prospecting, mapping, geochemical and geophysical surveys has all systematically and progressively delineated multiple highly prospective drill-worthy targets. Ongoing work continues to expand our geological knowledge of the area, while uncovering additional targets for ongoing exploration and possible drilling. We're excited at the prospect of testing the Ginger Ridge zone as part of the Company's objective to make a bona fide new discovery within the highly prospective and underexplored, Tireo Gold belt in the Dominican Republic, where multiple other significant discoveries have been made in recent years (GoldQuest's Romero, and Unigold's Neita). In addition, our ongoing exploration potential in the region has increased substantially in recent weeks with the addition of several new prospective, underexplored property acquisitions that have enhanced our in-country land package."

Recent mapping carried out in advance of the drill program indicates the target stratigraphy in the main anomaly/trench area appears to be near vertical in orientation, providing potential for near-surface mineralization. In addition, more detailed mapping to the northwest of the initial target area has identified encouraging evidence of a rhyolite dome in the northern portion of the main anomaly. Rhyolite domes are often associated with several types of gold and volcanogenic massive sulphide deposits.

About the Ginger Ridge Zone:

The Ginger Ridge zone is located within the Company's Juan de Herrera project, immediately adjacent to GoldQuest Mining's Las Tres Palmas Project (Romero and Romero South discoveries). Ginger Ridge is marked by an enriched multi-element geochemical anomaly, 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. Highlight trench sampling results reported within the anomaly include 32.5 m 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) and 15.0 m of 1.6 g/t gold and 25 g/t silver. IP geophysical surveying on five parallel grid lines at 200 m intervals centred over the middle of the zone report elevated chargeability readings which correlate well with the surface trace of the gold-in-soil anomalies, likely marking zones of increased sulphide concentrations within the host Tireo volcanic rocks. The IP survey identified a marked chargeability high on line 1400 which correlates well with the previously reported main trench samples. The entire chargeability anomaly remains open along strike to northwest and southeast and to depth below the estimated survey depth limit of 200 metres.

Geological mapping indicates that the Ginger Ridge soil and geophysical anomalies are underlain by steep northeast dipping, variably altered, intermediate volcanic Tireo formation rocks (dacitic flows/tuffs, andesites and a rhyolite dome) which are inferred to be cut by northwest, northeast and eastward trending fault structures. Observed mineralization includes irregular quartz and barite veins, veinlets and stockworks with varying pyrite (+/- related surface oxides) contents up to 40% locally; alteration includes associated clay, barite, calcite and chlorite.

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.

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.

Additional information can be viewed at the Company's website www.precipitategold.com.

On behalf of the Board of Directors of Precipitate Gold Corporation,

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.

Contacts:
Precipitate Gold Corp.
Jeffrey Wilson
President & CEO
604-558-0335 or Toll Free: 855-558-0335
[email protected]
www.precipitategold.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams. In his session at 22nd Cloud Expo | DXWorld Expo, Daniel Jones, CTO of EngineerBetter, will answer: How can we improve willpower and decrease technical debt? Is the present bias real? How can we turn it to our advantage? Can you increase a team’s effective IQ? How do DevOps & Product Teams increase empathy, and what impact does empath...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
You know you need the cloud, but you're hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You're looking at private cloud solutions based on hyperconverged infrastructure, but you're concerned with the limits inherent in those technologies. What do you do?
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...