Precipitate Expands Land Position at Island Zinc Property in British Columbia
Page 1 of 3
Precipitate Expands Land Position at Island Zinc Property
in British Columbia
Vancouver, B.C. – November 28, 2017 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV:
PRG) is pleased to announce the Company has acquire d by staking additional land at its Island Zinc proj ect
located near Port Hardy, north Vancouver Island, British Columbia.
Precipitate has increased the size of project by st aking an additional 675 hectares of prospective gro und
west of the original claim block. The new claim blo ck covers an on-strike extension of the same favourable
target limestone rocks found at the property’s Main Zone and includes three historical zinc-lead-silver
mineral showings (collectively known as the “ South Shore Zone ”). Select South Shore Zone historical
highlights include:
Rock chip channel samples:
- 9.5% zinc, 0.1% lead, and 75.4 grams per tonne (“g/t”) silver over 2.4 metres (1966); and
- 7.1% zinc, 0.3% copper, trace lead, and 6.9 g/t silver over 6.1 metres (1966)
Diamond drill hole 1952-02:
- 3.0% zinc, and 0.15% lead over 12.3 metres*
The Island Zinc Property now includes two non-contig uous claims covering a combined total of 1,023
hectares. See the accompanying map figure or the Company’s website for the additional information.
Jeffrey Wilson, Company President & CEO states, “We are pleased to have identified this ground proxima l
to our initial Island Zinc land position as this area hosts multiple historic showings and was not available for
staking at the time we acquired our initial project holdings. The increased land position and increase d
number of prospective mineral showings within the expanded project provides the Company a significantly
broader area to test with a first phase of ground g eophysical surveying which may provide an increased
number of potentially drill-worthy targets to explo re and refine. In the meantime, our very extensive soil
sampling program is ongoing at our Juan de Herrera project in the Dominican Republic.”
South Shore Zone Details:
The Island Zinc Project claims are located within th e east-west trending Nahwitti Lake Mineral Belt whi ch
hosts various high-grade zinc-lead-silver carbonate replacement and skarn type mineral occurrences. T he
South Shore Zone includes three modest size histori cal zinc-lead-silver-copper surface skarn showings
hosted in shallow south dipping, east-west trending limestone rocks, which extend an estimated 1.5
kilometres length within the new claim block. The t hree South Shore showings span an on-strike distanc e
exceeding 850 metres and are described as surface e xposures of disseminations, bands and pods of mixed
sphalerite-galena-chalcopyrite-pyrite-pyrrhotite mi neralization. Incomplete historical records* indica te
that much of the zone’s the exploration work was ca rried out during the 1950’s to 1960’s and includes
TSX VENTURE: PRG | www.precipitategold.com
625 Howe Street, Suite 1020, Vancouver, BC, V6C 2T6
Toll free: 855 558 0335
Direct: 604 558 0335
Page 2 of 3
surface rock/soil sampling, mapping, trenching, mod est geophysics, and perhaps up to 13 shallow depth
diamond drill holes (“X-ray” diameter core).
Historical work in the Island Zinc Property region h as been hindered by a pervasive, but relatively thi n
veneer of glacial till. Property outcrop exposures and showings are generally limited to the area’s fe w
narrow incised creeks and as a result much of the property geology is inferred by indirect means.
Precipitate’s initial exploration priority is to co mplete a detailed geophysical gravity survey over m uch of
the property to identify any potential large and de nse sphalerite-galena mineral bodies within the hos t
limestone rocks near, distal, or down dip from know n mineral surface occurrences. Selective ground
geophysical magnetic surveying may follow the gravity work as a means to identify drill worthy targets with
combined non-magnetic and gravity positive signatur e. Results of this work will be reported on as it i s
completed and interpreted.
* Note : Certain information and data in this news release concerning the Island Zinc property and past
work completed thereon and results therefrom are historical, being derived from publicly available sources
including assessment reports and British Columbia M inister of Mines Annual Reports. The reliability of
some historical data is unknown but is considered r elevant by Company management. The historical data
may be non-NI 43-101 compliant and should not be relied upon. It is the Company’s intention to verify the
historical data; however confirmation work may prod uce results that differ substantially from the hist oric
results. There is a risk that current exploration a nd test work will not result in the Company replica ting
historical results. Additionally, rock grab samples are selective by nature and are unlikely to repres ent
average grades on the property.
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, including the Company’s Reef property located
immediately adjacent to Golden Predator’s 3 Aces Pr oject in the Upper Hyland River area. The Company
has granted Golden Predator an option to earn a 100% interest in the Reef claims by making certain staged
payments in cash and shares and warrants. Precipita te is also actively evaluating additional high-impa ct
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]
Page 3 of 3
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, politi cal 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.