Precipitate Gold Corporation (the "Company" or "Precipitate" or "PRG") is pleased to announce it has commenced a comprehensive ground geophysical survey program on its 100% owned Juan de Herrera project in the Tireo Gold Camp within the Dominican Republic.
A ground geophysical program of both magnetic and induced polarization ("IP") surveying has been initiated by the Company. The primary object of this geophysical program is to survey multiple newly delineated geochemical anomalies (see the Company's website or news release dated August 16, 2016 for location details), for specific geophysical characteristics which may lead to the identification of priority drill worthy targets
In advance of testing the five new geochemical anomalies, IP geophysical work will commence at the Ginger Ridge Zone where surveying will cover select intermediate grid lines not previously included in the 2014 IP surveys. This follow-up work at Ginger Ridge will tighten the IP coverage and broaden the Company's geophysical understanding of the target anomaly in advance of drill-hole planning for the upcoming drill campaign planned for Ginger Ridge. Upon completion of the infill geophysical work at Ginger Ridge, drilling is expected to commence, while geophysical surveying moves sequentially to the five new geochemical anomalies outlined by the Company in recent months, namely the JT, South East, Jengibre South, Peak and Melchor areas. Precipitate expects the regionally comprehensive IP survey may take more than two months to complete, as the scope and emphasis of the many survey areas will be dynamically ascertained as results are received, reviewed and interpreted. This survey will cover substantially more line-kilometers and an extensively greater area than the previous survey's conducted at Ginger Ridge. IP surveying will be carried out by Matrix Geotechnologies of Toronto Ontario.
Jeffrey Wilson, Precipitate's President & CEO stated, "We're excited to get back to work at Ginger Ridge with infill IP geophysical surveying as a vital and final step before initiating a follow up drill program. IP geophysics has proven to be an essential exploration tool for intelligently selecting quality drill targets at Ginger Ridge and elsewhere in the Tireo Gold Camp region. We also look forward to the geophysical testing of our five new target areas as part of our ongoing effort to identify new drill-worthy targets to augment Ginger Ridge and further increase the significance of the Juan de Herrera project."
This news release has been reviewed by Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards.