Precipitate Provides Exploration and Drill Targeting Update from Multiple Zones at Juan de Herrera Project, Dominican Republic
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Precipitate Provides Exploration and Drill Targeting Update from
Multiple Zones at Juan de Herrera Project, Dominican Republic
Vancouver, B.C. – February 22, 2017 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG)
is pleased to provide an update on exploration and drill targeting activities ongoing at the Company’s 100%
owned Juan de Herrera Project in the Tireo gold district of the Dominican Republic.
Exploration and target vectoring work is ongoing at multiple key areas throughout the project. The
Company’s technical team continues to progress with exploration and evaluation of multiple prospective
zones that have not yet been drill tested (see acco mpanying maps for details). The systematic
advancement and ranking of these targets leading to future drill testing is the primary directive of t he
Company’s current exploration efforts.
Current exploration is focused on eight (8) primary areas of interest, specifically:
/square4 Ginger Ridge Main Trend , where the Company believes targets with significa nt potential remain
untested to the north and south (and to depth) of p revious drill testing. To date, the majority of
drill holes at Ginger Ridge have been focused within an area equating to approximately one quarter
of the IP geophysical anomaly, where the chargeabil ity readings were strongest, and drill Hole 5
intersected 13.4 grams per tonne gold over 5.0 metres within a broader intercept of 4.5 grams per
tonne over 18.0 metres. Elsewhere within the IP ano maly, where chargeability is more modest but
resistivity readings are higher, new targets are being reviewed. Additionally, the more detailed and
deeper-reading ground geophysics that was conducted at Ginger Ridge in advance of the Phase 2
drilling shows a substantial depth extension of the chargeability, particularly at the north portion of
the anomaly. Multiple areas within Ginger Ridge remain viable targets warranting follow-up;
/square4 East of Ginger Ridge , is situated along the regional trend to the south east of GoldQuest Mining’s
recent polymetallic drill discovery (drill hole TIR -16-09) at the Cachimbo zone. Limited geophysical
surveying by Precipitate in this area indicates a b roadly similar IP geophysical environment to that
found at Cachimbo. Sampling and mapping is currentl y being conducted over this area to
determine geological stratigraphy and surface geochemistry for the potential to host mineralization
similar to Cachimbo;
/square4 South of Ginger Ridge , previous geochemical surveying outlined a signifi cant soil anomaly
approximately 1.0 kilometer in length, situated rou ghly 250 metres south of the Company’s
southernmost Ginger Ridge drill locations. IP geoph ysical surveying over the area has outlined a
notable chargeability anomaly coincident with a gol d-in-soil geochemical anomaly, separate from
the Ginger Ridge Main Trend. With exploration effor ts to date having focused largely on the main
target at Ginger Ridge, this southern anomaly has s een little follow-up since its detection in 2014;
and
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/square4 All five of the previously outlined geochemical tar gets beyond the greater Ginger Ridge area
(namely the JT, Southeast, Jengibre South, Peak and Melchor zones) are situated within a
substantial host-rock volcanic environment, where d etailed induced polarization (”IP”) ground
geophysical surveying is currently being conducted as a final step in prioritizing the zones for
possible drill targeting.
Jeffrey Wilson, Precipitate’s President & CEO state d, “The Tireo gold district is an expansive belt of
mineralized terrain requiring a systematic and dete rmined approach. Ginger Ridge’s drill results to da te
show a mix of enriched gold mineralization (Phase 1 Holes 5 and 6) and important pathfinder elements and
rock textures indicating the possible presence of a VMS or intermediate sulphidation epithermal system. In
spite of the size and multitude of prospective targ ets in the Ginger Ridge vicinity, drilling to date has been
contained to a very small area, leaving several imm ediately prospective targets to be tested. GoldQues t
Mining’s recent polymetallic discovery hole (TIR-16 -09) at Cachimbo collared just 2 kilometres northwe st
from Ginger Ridge, provides a compelling precedent for the area’s potential. Substantial exploration targets
remain within the broader Ginger Ridge anomaly and its periphery and those targets are continuing to b e
explored. In addition, we continue to advance multi ple supplementary targets elsewhere throughout the
property, specifically in the southern region of the project. We’re excited to continue advancing and testing
our growing slate of targets in the coming months. The Company’s extensive land package, expanding pool
of targets, and healthy working capital put Precipi tate in good stead as we continue our immediate and
longer term exploration efforts.”
Phase 2 drill program was planned to consist of up to 2,500 metres and up to 12 holes. To date, only 1 ,310
metres and 5 holes have been completed, leaving ove r 1,000 metres of drilling still to be contemplated as
part of this phase. The drill remains onsite at Ginger Ridge and is available for re-commencement of drilling
upon completion of final evaluation and delineation of immediately worthy targets. It is the Company’s
intent to resume drilling as soon as current comprehensive target vectoring efforts are completed.
In addition, the Company is further analyzing and evaluating recently announced drill assay results and core
from the first five (5) drill holes reported from t he Phase 2 drill program (see the Company’s news re lease
dated January 19, 2017). Though initial assay resul ts from these holes did not return gold grades as r obust
as was reported in the 2014 discovery hole (“Hole 5 ”), the intervals of sulphide-silica alteration com bined
with anomalous gold (and local copper-zinc) enrichm ent appears to show various characteristics often
associated with a volcanogenic massive sulphide (“V MS”). Current follow-up work is seeking to utilize this
analysis as a means of better understanding the mineralization and vectoring toward an interpreted source
or feeder, which, if discovered, could host substantially richer mineralization.
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 northern British Columbia and southeast Yukon Te rritory and is actively evaluating additional high-
impact property acquisitions with the potential to expand the Company's portfolio and increase
shareholder value.
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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.
-2800
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1
2
3 & 4
-1100
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9
5 & 6
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8 10
11
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0 500 1000
metres
JDH Project border
GoldQuest Mining Tireo Property
GoldQuest Mining Tireo Property
limestone
limestone
thrust fault
thrust fault
Tireo
Volcanics
Tireo
Volcanics
February 2017
Ginger Ridge
Juan de Herrera Project
Ginger Ridge
Juan de Herrera Project
Ginger Ridge
Juan de Herrera Project
2017 Compilation
Expanded Exploration Area
0.7
5.0
4.0
3.0
IP Geophysics
Total Chargeability
(mV/V)
Diamond Drillhole Location
Gold Geochemical Anomaly
(rock+soil >70th percentile)
2017 Ongoing Exploration Area
GQC Cachimbo Zone ~ 2 km NW
DDH
TIR16-09
4.5m @ 13.8 g/t
Au, 1
1.8% Zn, 1.1% Cu
0 5 10
kilometres
Cachmibo
Jengibre
Ginger Ridge
Fortuna
Mineros Ridge
Toribio
Loma Viejo
Pedro East
South
Guama
Imperial
Romero
Au-Cu Mineral Resource
Romero South
Au-Cu Mineral Resource
regional thrust
Tireo V
olcanics
Tireo V
olcanics
Tireo V
olcanics
Tireo V
olcanics
GoldQuest Mining - Tireo Project
Precipitate Gold - Juan de Herrera
Current Exploration Zones
2017 Regional Exploration
Juan de Herrera
JT
Peak
Jengibre South
South East
Tireo Gold Trend Prospect
Geochemical Anomalous Area
February 2017
Melchor
Current Exploration Area
IP & Magnetic Geophysics, Mapping, Sampling