Precipitate Commences Exploration within the Lithocap Zone of the Pueblo Grande Gold Project in Dominican Republic
Precipitate Commences Exploration within the Lithocap
Zone of the Pueblo Grande Gold Project in Dominican
Republic
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2019) -
Precipitate Gold Corp.
(TSXV: PRG) (the “Company” or
“Precipitate”) is pleased to announce it has commenced exploration at the Lithocap Zone within the Company’s 100% owned
Pueblo Grande project within the Pueblo Viejo Mining Camp in the Dominican Republic.
The Company has initiated exploration programs on its priority Lithocap Zone located three kilometres west of Barrick’s world-
class Pueblo Viejo gold-silver mine. Near term work to be completed by the Company’s field crews will include the collection of
over 1,100 individual soil samples from within the Lithocap Zone to facilitate greater surface sample density and a more
comprehensive geochemical database from within the priority target area. In addition, crews will begin preparation for a ground
magnetic geophysical survey expected to focus primarily within the Lithocap Zone.
Jeffrey Wilson, Precipitate President & CEO, stated, "We are pleased to commence our exploration program at the Lithocap
Zone, an area where we postulate a potential parallel high sulphidation epithermal system with similarities to the neighbouring
Pueblo Viejo gold-silver mine. The Lithocap Zone was sampled by prior operators with samples taken at 100 metre by 100
metre spacings. The goal of our current program is to expand the scope of the geochemical data from this area by tightening up
the sample spacing to 50 metres by 50 metres for greater sample density to refine existing and notable concentrations of
anomalous mineralization and/or important trace or pathfinder elements that will aid in prioritizing target areas within the lithocap.
Results from this initial exploration phase will provide a strong foundation and guidance for subsequent stages of work which will
likely include ground magnetic geophysical surveying and high-level alteration-geological mapping in advance of drill hole
targeting."
Field work is focusing on the portion of the regionally extensive high-level advanced argillic Lithocap alteration which coincides
with a notable geophysical magnetic high; a target area measuring approximately 2.5 km by 3.0 km which has seen little past
systematic exploration (see
accompanying image
or the Company's website for more details
www.precipitategold.com
).
Figure 1
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The Lithocap Zone, west of the Pueblo Viejo mine, is interpreted to be a high-level advanced argillic lithocap alteration type
environment which lacks significant known surface gold-silver mineralization but has an anomalous trace element suite that
typifies the adjacent Pueblo Viejo mineralization style. The lithocap alteration is dominated by pervasive quartz-pyrophyllite-
pyrite with numerous and widespread irregular pods, veins, and veinlets of massive hematitized magnetite. Magnetite/hematite,
silicification and various pathfinder elements associated with Pueblo Viejo style high sulphidation epithermal gold-silver-copper
mineralization offer key exploration vectors into and through the extensive altered Lithocap Zone.
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.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the
Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The Company also maintains the Reef property
located immediately adjacent to Golden Predator's 3 Aces Project in the Upper Hyland River area, Yukon Territory. The
Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100%
interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also 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
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 expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words 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 achieved. 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-looking information is subject to known and unknown
risks, 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 all; general business, economic, competitive, political and social uncertainties; the concessions 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 environmental legislation affecting mining; timing and availability of
external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of
key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be other factors that cause results not to be as
anticipated, 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.
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