Precipitate Delineates New Priority Epithermal Gold Target at Ponton Project, Dominican Republic
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Precipitate Delineates New Priority Epithermal Gold Target
at Ponton Project, Dominican Republic
Vancouver, B.C. – April 23, 2020 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG) is
pleased to announce its new high priority explorati on focus at its 100% owned Ponton project , located
approximately 20 kilometres (“km”) due east of the Company’s Pueblo Grande project in the Dominican
Republic.
Recent data compilation and interpretation of the P onton property’s historical surface geochemical
sampling (soil, rock and stream sediment) highlight ed the project’s Copey Hill Zone as the region’s
strongest multi-element geochemical anomaly (gold, silver, arsenic, mercury, antimony) which is likely
reflective of a near surface epithermal gold system . The zone has never been drill tested and will be the
focus of the Company’s near-term drill targeting plans.
Copey Hill Epithermal Gold Zone, Major Attributes
Coincident surface soil-rock geochemical anomalies, including gold, silver, arsenic, mercury,
antimony and thallium, over an area measuring about 1,200 by 1,000 metres and open to the east .
Early stage rock sampling with gold values up to 4.1 grams per tonne (“g/t”) , associated with fine
grain silica (+/- pyrite) veins, often with boxwork and cockscomb textures.
Large distinctive areas of white clay argillic alteration .
Proximal to the Majagual Copper-Gold porphyry system 2.5 km to the northeast.
Hosted in Los Ranchos Formation volcanics, similar to the host rocks at the Pueblo Viejo Gold Mine
located about 35 kilometres to the west.
Excellent logistics and road access, with a high-power electrical line bisecting the property.
Jeffrey Wilson, Precipitate’s President and CEO commented, “We’re excited to pursue the Copey Hill Gold
Exploration Zone at our Ponton Property. With the Company’s Pueblo Grande project and its extensive
prospective target areas now being explored and fun ded by Barrick Gold Corp. as part of an earn-in
agreement, we’re keen to shift our focus to a new, large, and nearly drill ready epithermal gold target just
20 kilometres to the east. Within the Ponton Project itself, and the immediate surrounding area, the Copey
Hill Gold Zone stands out as the region’s top gold geochemical exploration target, having the stronges t
multi-element surface soil-rock anomaly. The figure s (maps) accompanying this news release show
Ponton’s location within the Los Ranchos geological formation and clearly evidence Copey Hill’s elevat ed
concentrations of gold, silver, and other important epithermal pathfinder elements. Access to the
Company’s recently purchased drilling equipment will expedite the path toward a cost efficient first p hase
of drilling at Copey Hill once target definition is complete. We continue to compile and assess the ex isting
data and intend to immediately commence fieldwork o nce the current Covid-19 virus related restrictions
are removed. Further comprehensive details of the C opey Hill Gold Zone and the Company’s near-term
plans will be provided in the coming weeks.”
TSX VENTURE: PRG | www.precipitategold.com
625 Howe Street, Suite 1020, Vancouver, BC, V6C 2T6
Toll free: 855 558 0335
Direct: 604 558 0335
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"The Ponton project hosts a robust, 1.2 km-diameter epithermal gold anomaly, the Copey Hill target, wi th
no history of drilling," commented Quinton Hennigh, Director of Precipitate Gold . "Given its close
proximity to the world class Pueblo Viejo mine oper ated by Barrick, it is astonishing such a target ha s not
yet been tested, especially given the fact this system is hosted by the same prospective host rocks, the Los
Ranchos Formation. Based on the existing available data, the Company’s initial assessment suggests the
Copey Hill anomaly possesses the geochemical charac teristics to host a significant untested epithermal
target and warrants accelerated advancement toward a first phase of drill testing. Precipitate aims to soon
fully develop this drill target in preparation for drilling using the Company's recently acquired dril l
equipment. Having now closed the Pueblo Grande tran saction with Barrick, Precipitate is well cashed up
with approximately $2.3M to aggressively pursue this high value target."
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The Ponton Project location map and property surface anomaly locations are shown on the accompanying
maps illustrating the Project’s prospective geologi cal location, with the Los Ranchos Formation as wel l as
the scope of the surface gold anomaly and coinciden t epithermal pathfinder elements. Map figures
demonstrate the size and tenor of these anomalies w ithin the permissive Los Ranchos formation which
hosts the nearby Pueblo Viejo mine. See also the Company’s website for these and additional Ponton
related figures.
Project work completed by past operators includes b oth property-wide reconnaissance scale exploration
and detailed follow up work on two of the three sur face geochemically anomalous zones identified on the
Project. The three notable exploration zones are (i) Copey Hill, an epithermal gold target, (ii) Majagual Hill,
a copper-gold porphyry target (tested in 2017 with five diamond drill holes) and (iii) a broad area of early
stage rock and stream sediment anomalies , which require follow up investigation.
The Ponton Project is located about 20 kilometres east of the Company’s Pueblo Grande gold project or 45
kilometres north of Santo Domingo, the capital of D ominican Republic. The Project covers 3,250 hectare s,
has excellent road access, is bisected by a high po wer electrical line and importantly is underlain by the
similar prospective Cretaceous to Lower Tertiary ag ed Los Ranchos Formation volcanic rocks that host
Barrick’s Pueblo Viejo Gold-Silver Mine. At the Copey Hill Zone, topography is generally modest, with small
hills and ridges varying from 100 to 220 meters abo ve sea level. The Project’s historical surface
geochemical database includes 2,880 grid/auger soil, 1,403 rock and 317 stream sediment samples. At th e
Majagual Hill copper-gold porphyry zone prior work includes surface trenching, 4.7 line-kilometers of
induced polarization (IP) geophysical surveying, and 1,666 metres of diamond drilling (5 holes in 2017).
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The Ponton Project historical soil, rock, stream se diment and core samples collected by past operators
were collected on a wide range of surface or drill hole densities and were submitted to Bureau Veritas
(previously Acme Labs) for multi-element ICP-MS analysis, all data is stored in various digital formats and is
in the Company’s possession.
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 Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The
Company is actively exploring its 100% owned Ponton and Juan de Herrera projects. The Company’s Pueblo
Grande Project is subject to an Earn-In Agreement with Barrick Gold Corporation, whereby Barrick can earn
a 70% interest by incurring US$10M within six years and producing a qualifying Pre-feasibility Study.
Precipitate is also actively evaluating additional high-impact property acquisitions with the potentia l to
expand the Company's portfolio and increase shareho lder value, in the Dominican Republic and other
favourable jurisdictions.
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
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.