Precipitate’s Latest IP Results Produce Emerging New Drill Targets at Southeast and South Jengibre Zones
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Precipitate’s Latest IP Results Produce Emerging New Drill Targets at
Southeast and South Jengibre Zones
Vancouver, B.C. – June 5, 2017 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG) is
pleased to announce results and interpretation from the latest geochemical and geophysical surveys at the
“Southeast” and “South Jengibre Zones” within the Company’s 100% owned Juan de Herrera project in the
Dominican Republic. The latest results have elevat ed these zones into emerging possible future drill
targets.
Precipitate has completed a comprehensive interpret ation of recently collected geophysical and
geochemical survey data at the Southeast and South Jengibre zones, both located approximately six
kilometres (‘km’) southeast of the Company’s Ginger Ridge Zone. Collectively, soil and rock sample results,
along with induced polarization (“IP”) and magnetic geophysical survey data have outlined compelling
multi-layered anomalies at both the Southeast and S outh Jengibre Zones. Notably, surface rock grab
sampling at the Southeast Zone has identified a new high-grade copper showing, with laboratory values up
to 13.5% copper, 0.5 grams per tonne (“g/t”) gold, and 52.1 g/t silver *. This early stage Southeast Zo ne
copper showing and other anomalous gold-copper samp le locations eastward into the nearby South
Jengibre Zone are the focus of ongoing follow up exploration work. See the accompanying two maps or the
Company’s website for the Southeast and South Jengi bre Zones gold-in-soil anomalies and IP + magnetics
geophysics illustration maps.
Recently completed interpretation of newly generate d geophysical data along with current exploration
data of the Southeast and South Jengibre Zones has yielded the following highlight results:
Southeast Zone
• 650 metre (“m”) by 125m multi-element soil anomaly with gold up to 144 parts per billion (“ppb”),
plus various pathfinder elements (open in all directions, except to the southeast);
• Northwest trending soil anomaly coincident with important geophysical features, including
moderate-high IP chargeability and resistivity and magnetic low signatures important for potential
gold mineralization in the region;
• Discovery of a new early stage high grade copper showing with strong disseminations of
chalcopyrite (rock grab samples reporting up to 13.5% copper, 0.5 g/t gold, and 52.1 g/t silver*);
and
• Sampling of other areas between Southeast and South Jengibre has reported copper values up to
1.1% and gold values up to 1.1 g/t
South Jengibre Zone
• 350m by 150m multi-element soil anomaly with gold up to 229 ppb, open to the southeast;
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• Gold-in-soil anomaly correlates with pathfinder ele ments, zinc and lead, with lesser silver and
antimony;
• Soil anomaly is coincident with moderate IP chargeability and high IP resistivity and moderate
magnetic low signatures;
• Located only two kilometres south of GoldQuest Mining’s Jengibre zone, where past work reported
highlight rock channel sampling results of 59.5 met res 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
• Rock grab sampling southwest of the main trend has reported gold values up to 5.2 g/t and 1.25 g/t
across a 4.0 metre outcrop
* NOTE: Surface rock grab samples are selective by n ature and are unlikely to represent average grades of
the zone.
Jeffrey Wilson, Precipitate’s President and CEO com mented, “We are pleased that our extensive IP and
ground exploration work over recent months is yield ing positive results and delineating prospective ne w
targets. The identification and refinement of the multi-layered geophysical-geochemical anomalies at both
the Southeast and South Jengibre Zones substantiall y expands the scope and scale of our ongoing
exploration on the project with additional potentia l drill targets emerging to augment our current wor k at
Ginger Ridge. In addition, the discovery of a new h igh-grade copper showing at the Southeast Zone is an
important development, as it is the first time fiel d crews have identified a significant surface volca nic rock
exposure enriched with chalcopyrite (copper) within our Juan de Herrera property.”
Work on the Southeast Zone has identified a northwe st trending, 650m by 125m multi-element soil
anomaly which is open in all directions, except to the southeast. The soil anomaly is characterized by a
correlation of gold with various pathfinder element s which include silver, arsenic, antimony, selenium and
moderate lead and zinc. The zone is coincident with (i) moderate high and locally variable IP chargeab ility
and resistivity anomalies and (ii) a magnetic low s ignature. At the Zone’s new copper showing, five roc k
grab samples were collected from outcroppings over an estimated area measuring 10m by 5m, where
volcanic rocks host strong disseminations and fract ure infills of chalcopyrite, yielding up to 13.5% c opper,
0.5 g/t gold, 52.1 g/t silver and greater than 100 g/t selenium *.
The South Jengibre Zone is marked by a 350m by 150m multi-element soil anomaly which is open to the
southeast. The soil anomaly is characterized by a c orrelation of gold with several pathfinder elements
which included zinc and lead, with lesser silver an d antimony; the relative strength of the zinc-in-so il
anomaly is notable. The South Jengibre Zone is coin cident with (i) moderate IP chargeability and high IP
resistivity anomalies and (ii) a modest and diffuse magnetic low signature. Cursory sampling of small local
rock outcrops, located about 200 metres south of th e gold-in-soil anomaly, report gold results from ni l to
four metres grading 1.25 g/t gold from an exposure of sheeted and stockwork veins accompanied by
disseminated pyrite and silica flooding.
Soil sampling at Southeast – South Jengibre Zones c overs an expanse measuring about 2.5 km by 0.5 km
covering the most prospective Cretaceous aged Tireo volcanic rocks in the area. Current soil sample density
ranges from 25m to 50m intervals along northeast or iented lines at 50m to 200m line spacing; additiona l
soil sampling is essential and planned for the area . The gold-in-soil anomalies are defined by values
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exceeding the 70 th percentile or 4.7 ppb. To date, gold-in-soil values for the two zones range from nil to 229
ppb.
Rock and soil samples were bagged, sealed and deliv ered directly to Bureau Veritas (“BV”) preparation fa cility 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. Sa mples were
crushed (or sieved) to with up to 80% passing 2mm a nd split using a riffle splitter (code PRP70-250). An approximate
250 gram sub-sample split was pulverized to minus 2 00 mesh (74μ). A 15 gram sub-split from the resulti ng pulp was
then subjected to aqua regia digestion and multi-el ement ICP-MS analysis (code AQ201). Rock sample res ults with
gold greater than 1,000 ppb were subjected to fire assay (ICP-ES finish) analysis (30 g pulp; code FA3 30-Au). The
induced polarization/resistivity survey was carried out by Matrix Geotechnologies Ltd of Toronto Ontar io, using a 10
kW generator Time Domain IP system using the Elrec Pro 10 channel receiver with a receiver dipole spac ing of 25
metres, (pole-dipole array), which provides quality subsurface resolution for 2D Quantitive Sections a nd 3D voxel
modelling for exploration drill targeting. The figu re accompanying this release shows a plan view of i nterpreted
gradient chargeability.
This news release has been reviewed by Michael Moor e P. Geo., Vice President, Exploration of Precipita te
Gold Corporation, the Qualified Person for the tech nical information in this news release under NI 43- 101
standards.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration com pany focused on exploring and advancing its mineral
property interests in the Tireo Gold Trend of the D ominican Republic. The Company also maintains asset s
in British Columbia and southeast Yukon Territory a nd is actively evaluating additional high-impact
property acquisitions with the potential to expand the Company's portfolio and increase shareholder value.
Additional information can be viewed at the Company’s website www.precipitategold.com .
On Behalf of the Board of Directors of Precipitate Gold Corp.,
“Jeffrey Wilson”
President & CEO
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other
than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the
use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is ex pected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such w ords and phrases, or by the use of words or
phrases which state that certain actions, events or results may, could, would, or might occur or be ac hieved. This forward-looking information
reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company”) current beliefs and is based on information currently available to Company and on
assumptions it believes are reasonable. Forward-loo king information is subject to known and unknown ri sks, uncertainties and other factors that
may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied
by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be
granted on terms acceptable to the Company, or at a ll; general business, economic, competitive, political and social uncertainties; the concessions
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acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory
approvals; changes in legislation, including enviro nmental legislation affecting mining; timing and av ailability of external financing on acceptable
terms; conclusions of economic evaluations; and lac k of qualified, skilled labour or loss of key indiv iduals. Although Precipitate has attempted to
identify important factors that could cause actual results to differ materially from those contained i n forward-looking information, there may be
other factors that cause results not to be as antic ipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-
looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities
laws.
2,092,0002,091,000
273,000 274,000 275,000
inferred regional fault
Peralta sediments
Tireo V
olcanics
inferred regional fault
Copper Showing
rock grab samples
up to 13.5% Cu, 0.5 ppm Au, 52.1 ppm Ag *
4m @ 1.25 g/t Au
* Surface rock grab samples are selective by nature and are unlikely to represent average grades of the zone
470
748
1,125
5,217
1.1% Cu
0.3% Cu 0.2% Cu
June 2017
0 250 500
metres
GoldQuest Mining
Jengibre Zone
rocks: gold to 17.7 g/t
copper to 1.4%
Precipitate Gold
Juan de Herrera
GoldQuest Mining - Tireo Project
Juan de Herrera Project
Ginger Ridge 6 km
Gold
Gold Soil Geochemistry (ppb)
19.7 to 229.2 (>95th percentile)
10.8 to 19.7 (90-95th %tile)
6.1 to 10.8 (80-90th %tile)
4.7 to 6.1 (70-80th %tile)
< 4.7 (< 70th %tile)
Gold Rock Geochemistry (ppb)
19.7 to 229.2 (>95th percentile)
10.8 to 19.7 (90-95th %tile)
6.1 to 10.8 (80-90th %tile)
4.7 to 6.1 (70-80th %tile)
< 4.7 (< 70th %tile)
>70th percentile
Southeast & South Jengibre Zones
Gold Anomalies + Airborne 1st Vertical Derivative Magnetics
1st Vertical Derivative
Magnetics
HIGH
LOW
Time Domain IP (PDP Array, 25m, 10 channel)
mV/V
1.5 1.8 2.0 2.3 2.6 2.8 3.0 3.2 3.4 3.7 4.0 4.5 7.1
Low
Chargeability
High
Chargeability
2,092,0002,091,000
273,000 274,000 275,000
inferred regional fault
Peralta sediments
Tireo V
olcanics
inferred regional fault
Copper Showing
rock grab samples
up to 13.5% Cu, 0.5 ppm Au, 52.1 ppm Ag *
4m @ 1.25 g/t Au
* Surface rock grab samples are selective by nature and are unlikely to represent average grades of the zone
470
748
1,125
5,217
1.1% Cu
0.3% Cu 0.2% Cu
June 2017
0 250 500
metres
GoldQuest Mining
Jengibre Zone
rocks: gold to 17.7 g/t
copper to 1.4%
Precipitate Gold
Juan de Herrera
GoldQuest Mining - Tireo Project
Juan de Herrera Project
Ginger Ridge 6 km
Gold
Gold Soil Geochemistry (ppb)
19.7 to 229.2 (>95th percentile)
10.8 to 19.7 (90-95th %tile)
6.1 to 10.8 (80-90th %tile)
4.7 to 6.1 (70-80th %tile)
< 4.7 (< 70th %tile)
Gold Rock Geochemistry (ppb)
19.7 to 229.2 (>95th percentile)
10.8 to 19.7 (90-95th %tile)
6.1 to 10.8 (80-90th %tile)
4.7 to 6.1 (70-80th %tile)
< 4.7 (< 70th %tile)
>70th percentile
Southeast & South Jengibre Zones
Gold Anomalies + IP Chargeability