Precipitate Gold Corporation is pleased to announce the commencement of follow up exploration on its Juan De Herrera Project in the Dominican Republic.
The Company has initiated follow-up geochemical sampling that will cover five (5) newly identified early-stage geochemically anomalous zones hosted within favourable Tireo volcanic lithologies (see Company news release dated May 10, 2016). These new target areas are part of an expanding and developing prospective regional mineral trend that cuts through several portions of Precipitate and GoldQuest Mining Corp's Tireo Gold Camp landholdings (see attached map for details).
Precipitate's field work will include prospecting and detailed follow-up grid and ridge-spur soil sampling of multiple new anomalously mineralized areas which show similar geochemical and geophysical characteristics to known mineralized zones throughout the region. Of particular interest is the recently identified South East Zone, which measures approximately 1.4 kilometers in length and shows many geological similarities to the Company's Ginger Ridge Zone located along trend only six (6) kilometres to the northwest. Additionally, in light of GoldQuest Mining's recently reported results from its Loma El Cachimbo zone (located about 2.5 kilometres northwest of Precipitate Gold's Ginger Ridge discovery) the Company is also contemplating re-evaluation and possible local field work around and along trend from the Ginger Ridge discovery area.
Precipitate's President & CEO, Jeffrey Wilson stated, "We are pleased to commence the next phase of work on the five new anomalies as they represent immediate opportunities for Precipitate to enhance Juan de Herrera's potential through the possible delineation of additional drill worthy targets to augment the Ginger Ridge discovery zone. The advancement of these targets in tandem with GoldQuest's recent announcement of the new Loma El Cachimbo prospect and its reported high-grade rock grab samples located near PRG's Ginger Ridge Zone, reinforces our belief in the Tireo Gold Camp as an emerging, underexplored gold district with numerous gold and copper prospects that have the potential to host meaningful mineralization over a regionally significant trend."
This news release has been reviewed and Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Persons for the technical information in this news release under NI 43-101 standards.