Mr. Jeffrey Wilson reports
PRECIPITATE COLLECTS OVER 17,000 DETAILED SOIL SAMPLES IN PROPERTY-WIDE SURVEY AT JUAN DE HERRERA PROJECT, DOMINICAN REPUBLIC
Precipitate Gold Corp. has completed a nearly property-wide detailed soil sampling program on its 100-per-cent-owned Juan de Herrera project in the Dominican Republic.
Over a four-month period, ending in December, 2017, field crews collected a total of 17,414 soil samples from the property, achieving a near property-wide systematic and detailed soil sampling survey. A total of 14,759 (or 85 per cent) of these soil samples have been analyzed with a portable XRF unit (X-ray fluorescence) and data are being compiled and evaluated. The new sampling coverage includes the Southeast, South Jengibre, Peak and Melchor zones located in the southern region of the project, as well as the previously underexplored areas in the northern part of the project where sparse prior sampling indicates the areas are underlain by target Tireo volcanic rocks. See the accompanying map or the company's website for the detailed soil sample location figure.
A follow-up soil sampling program is anticipated to commence shortly after the data have been compiled and interpreted, and will expand sampling coverage to include specific open anomalies and to complete comprehensive property coverage of the few remaining areas of known Tireo volcanic which have seen little or no sampling to date.
Jeffrey Wilson, Precipitate's president and chief executive officer, commented: "The completion of the formidable task of a near property-wide detailed soil sampling survey provides the company with an incredible amount of data over much of our extensive property package. Adding over 17,000 new samples to the more than 5,000 already collected increases our total sample coverage by 340 per cent. The new XRF data will complement the current geochemical database and help our team to vector to priority areas where few or no samples had previously been collected. We anticipate compiled results and interpretations to be disclosed in the weeks and months ahead. Results from this round of work, coupled with the drill-ready targets already in-place at Ginger Ridge East and the Southeast zones, will provide the basis for a more substantial future drill program targeting multiple zones throughout the project in 2018."
The purpose of the property-wide detailed soil sampling program is to rapidly and cost-effectively compile an additional layer of geochemical data from multiple prospective areas of the project where little or no systematic exploration had previously been conducted. The derived XRF data will further facilitate the identification of new target areas and refine the scope of known zones. Within the survey, samples were collected at a density of 25 metres by 50 m and analyzed with a portable XRF analyzer by company technicians. Portable XRF instruments collect quality base-metal and various pathfinder-element data, but provide limited precious-metal results. All soil samples from this phase of exploration have been placed in secure storage for future work, which may include laboratory analyses, geological review or clay/alteration studies. Results of the comprehensive soil sampling program will be disclosed as they become available and are interpreted.
This news release has been reviewed by Michael Moore, PGeo, vice-president, 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 Gold is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo gold trend of the Dominican Republic. The company also maintains assets in British Columbia and southeast Yukon, including the company's Reef property located immediately adjacent to Golden Predator's 3 Aces project in the upper Hyland River area. 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, 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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