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Precipitate Announces Geophysical and Geochemical Survey Results from Melchor and Peak Zones

Precipitate Gold Corp. is pleased to announce results and interpretation from the latest geophysical and geochemical surveys at the "Melchor" and "Peak" Zones located at the southeastern end of the Company's 100% owned Juan de Herrera project in the Dominican Republic.

Precipitate has completed a comprehensive interpretation of recently collected geophysical and geochemical survey data at the Melchor and Peak Zones, located approximately 12 kilometres ("km") southeast of the Company's Ginger Ridge Zone. Together, soil and rock sample results, induced polarization ("IP") and airborne magnetic geophysical survey data identify multi-layered target areas for both the Melchor and Peak Zones. See the accompanying two maps or the Company's website for both Zones gold-in-soil anomalies and IP + magnetics geophysics illustration maps.

Highlight results for the combined newly generated geochemical and geophysical data for the Melchor and Peak Zones is as follows:

Melchor Zone

  • Target area measuring 2.2 km by 0.6 km including three parallel and fairly well defined multi-element soil anomalies with gold up to 181 parts per billion ("ppb");
  • Highlight rock grab sampling with gold values up to 7.7 g/t Au;
  • The three southeast trending soil anomalies are further defined by various geophysical features of mixed moderate-high and low IP chargeability-resistivity and magnetic low signatures, important for potential gold mineralization in the region; and
  • Geological mapping indicates much of the area to be underlain by regionally favourable rhyolite and dacite rocks.

Peak Zone

  • Target area measuring 2.0 km by 0.7 km, includes four loosely outlined multi-element soil anomalies with gold up to 286 ppb;
  • Highlight rock grab sampling with gold values up to 1.57 g/t Au and copper values to 0.6%;
  • Geophysical responses including mixed moderate-high and low IP chargeability-resistivity and magnetic signatures; are coincident with the soil anomalies;
  • Located 4.5 km southeast of GoldQuest Mining's Jengibre zone, where past work reported highlight rock channel sampling results of 59.5 metres grading 1.58 g/t gold (see GoldQuest news release of October 7, 2009) and rock samples to 17.7 g/t gold and 1.4% copper; and
  • Sampling of other areas between Peak and Melchor zones has reported gold-in-soil values up to 490 ppb and a rock grab sample with 0.47 g/t gold and greater than 1% zinc.

Jeffrey Wilson, Precipitate's President and CEO commented, "We are pleased that our extensive ground exploration work over recent months continues to yield encouraging results. Collectively, IP and airborne geophysical surveys, early stage geochemical sampling, along with the region's first modern geological mapping work have delineated additional prospective exploration targets that warrant drill targeting in the future. The fact that we have now identified four targets in addition to Ginger Ridge clearly demonstrates the metallogenic potential of this volcanic belt."

Early stage soil sampling at the Melchor and Peak Zones covers an expanse measuring about 6.0 km by 1.5 km covering the prospective Cretaceous aged Tireo volcanic rocks. Current soil sample density is generally wide spread with samples collected at 50-100m intervals along local ridges and paths; additional soil sampling is essential and planned for the area. The gold-in-soil anomalies are defined by values exceeding the 70th percentile or 4.0 ppb. To date, gold-in-soil values for the two zones range from nil to 490 ppb. These two early stage target areas and other nearby anomalous gold-zinc sample locations are the focus of ongoing follow up exploration work.

Rock and soil samples were bagged, sealed and delivered directly to Bureau Veritas ("BV") preparation facility in Maimon Dominican Republic where they were dried, crushed (or sieved in the case of soils) and pulped. Sample pulps were then delivered to BV facilities in Vancouver BC (an ISO 9001 accredited facility) for analyses. Samples were crushed (or sieved) to with up to 80% passing 2mm and split using a riffle splitter (code PRP70-250). An approximate 250 gram sub-sample split was pulverized to minus 200 mesh (74μ). A 15 gram sub-split from the resulting pulp was then subjected to aqua regia digestion and multi-element ICP-MS analysis (code AQ201). Rock sample results with gold greater than 1,000 ppb were subjected to fire assay (ICP-ES finish) analysis (30 g pulp; code FA330-Au). The induced polarization/resistivity survey was carried out by Matrix Geotechnologies Ltd of Toronto Ontario, using a 10 kW generator Time Domain IP system using the Elrec Pro 10 channel receiver with a receiver dipole spacing of 25 metres, (pole-dipole array), which provides quality subsurface resolution for 2D Quantitive Sections and 3D voxel modelling for exploration drill targeting. The figure accompanying this release shows a plan view of interpreted gradient chargeability.

This news release has been reviewed by Michael Moore P. Geo., Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards.


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