Jun 26 2015
Precipitate Gold Corporation is pleased to announce the expansion of the Company's exploration efforts with the commencement of a regional airborne geophysical survey at its 100% owned Juan de Herrera project within the Dominican Republic's Tireo Gold Camp.
As a complement to its Ginger Ridge Gold Zone discovery, the Company will carry out a regional airborne geophysical survey covering prospective Tireo formation volcanic rocks within the central and east portions of its Juan de Herrera land package. The primary objective of this program is to survey untested portions of the project in search of new geophysical anomalies, similar to Ginger Ridge, for follow up exploration and possible future drill testing. The helicopter-borne survey will cover two proximal areas southeast of Ginger Ridge. The survey will use high sensitivity magnetic and radiometric detectors and will comprise an estimated 450 line kilometres, at 120 metre wide line spacing. See the accompanying map figures at Precipitate's website here http://www.precipitategold.com/i/maps/NR-Mag-Survey-with-GQC-Tireo-and-Airborne-Mag.pdf.
The significance of targeting these two key prospective areas is:
- Both areas are on trend and on strike from multiple known mineralized zones within the Tireo belt, specifically Ginger Ridge, and GoldQuest Mining Corp.'s Jengibre and Jengibre NW;
- The survey areas are underlain by the largest contiguous exposures of Tireo volcanics within Precipitate's project; and
- These areas lie mainly within new additions to the greater Juan de Herrera project, and were not subject to prior exploration work by the Company
Jeffrey Wilson, Precipitate's President and CEO stated "We're eager to expand our exploration efforts to new areas within our substantial Tireo property package as a means of increasing our foothold in this emerging gold-copper mineralized camp. The Tireo region's rare combination of recent multimillion ounce discoveries within otherwise unexplored prospective terrain represents a unique opportunity for additional discoveries. To date, our work has focused almost exclusively on the Ginger Ridge Zone where regionally-proven exploration techniques led to a drill discovery. Recent work by Precipitate and its neighbour GoldQuest Mining Corp. validated geophysical surveying, magnetics in particular, as a highly efficient means of highlighting areas of alteration with the potential to host economic gold-copper mineralization. Recent concession staking has added large areas of Tireo volcanics exposure to our project, in particular in the area between the Ginger Ridge and Melchor discoveries. We hope to identify new geophysical anomalies, similar in make-up to Ginger Ridge and other known mineralized zones in the area, as a means of augmenting the Ginger Ridge target with multiple additional drill-worthy targets for a more substantial follow up drill program."
To date, Precipitate has identified several early stage areas of interest for follow up exploration which are based on the Company's preliminary regional geochemical sampling and GoldQuest Mining's 2014 regional airborne magnetic geophysical map (see the accompanying map figures highlighting the 2014 Total Magnetic Intensity illustration courtesy of GoldQuest Mining Corp.). Regionally, many of the Tireo Gold Camp's gold-copper showings are associated with magnetic lows (blue colour contours) indicating zones of magnetite destruction alteration. Interestingly, Precipitate's Ginger Ridge gold zone is marked by a southeast trending airborne magnetic high anomaly (red coloured contour), which encompasses a subtle magnetic low only identified by Precipitate's more detailed ground magnetic survey (see Precipitate's April 14, 2015 news release). Thus, on a regional basis, both magnetic lows and highs are prospective targets that can be followed up by using the same techniques that led to the Ginger Ridge discovery and numerous other discoveries within the Tireo Gold trend; i.e. prospecting, geological mapping, geochemical sampling and ground geophysical surveying (magnetics and induced polarization). The airborne survey allows the Company to rapidly and efficiently focus its efforts on the most prospective areas.
Source: http://www.precipitategold.com/