Precipitate Re-Commences Drilling at Expanded Ginger Ridge Targets
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Precipitate Re-Commences Drilling at Expanded Ginger Ridge Targets
Vancouver, B.C. – May 24, 2017 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG) is
pleased to announce the re-commencement of its diam ond drill program at the Ginger Ridge Zone within
the Company's 100% owned Juan de Herrera project in the Dominican Republic.
Precipitate’s technical team has designed an adapta ble program of approximately 3,500 metres (“m”) of
diamond drilling. The primary objectives of this pr ogram will be, (i) to test select portions of the G inger
Ridge Main anomaly area that were not tested in pri or drill programs; and (ii) test the newly identifi ed
Ginger Ridge East soil anomaly, situated approximat ely one kilometre east of prior drilling. Program
budgeting allows for the possible expansion of dril ling within any new priority exploration zones
successfully intersected during the program. Conc urrent with the Ginger Ridge Drill program, Precipi tate
will be updating shareholders on results from the o ther five target areas on Juan de Herrera where IP
geophysics, soil geochemical surveys and geological mapping were recently completed. The Company may
extend the drill program to include some of these o ther areas if deemed prudent, based on results and
budgets.
Jeffrey Wilson, Precipitate's President and CEO stated, "We are very pleased to re-commence drilling at the
Ginger Ridge Zone, as we test multiple new targets w ith what is budgeted to be the largest drill phase
conducted by the Company to date on the project. Th e combination of our Phase I drill discovery along
with subsequent drilling data and geochemical and g eophysical work in and around the Main zone has
provided a better understanding of the system and o ffered multiple new targets for the current drill
program. Prior drilling at Ginger Ridge has focused almost solely on exceptionally high chargeability
signatures within the centre of the Zone. Drilling in this round at the Main Ginger Ridge anomaly will test
undrilled portions at the north and southern extent s of the anomaly, particularly areas with stronger
surface geochemical signatures, while holes planned at the East anomaly will target the most significa nt
surface soil geochemical anomaly identified to date on the Project.”
Drill Target Highlights:
Ginger Ridge East Anomaly:
/square4 The most significant soil geochemical anomaly identified to date at the Project, with gold up to 842
ppb, zinc up to 2,461 ppm and lead up to 305 ppm;
/square4 Strong and consistent multi-element anomaly measuring 1,100m by 100m; and
/square4 Soil geochemical anomaly is coincident with a stron g magnetic low geophysical signature; an
important geophysical feature for potential gold mineralization in the region.
Ginger Ridge Main Anomaly:
/square4 Extensive northwest trending Induced Polarization ( “IP”) geophysical chargeability anomaly,
measuring at least 1,000m long by up to 200m wide. The combined geophysical and geochemical
target is untested on the north and south extents;
TSX VENTURE: PRG | www.precipitategold.com
625 Howe Street, Suite 1020, Vancouver, BC, V6C 2T6
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/square4 Host to Drill Hole 5 - The Discovery Hole, with multiple gold-rich intervals, including 13.4 grams per
tonne gold over 5.0 metres within 4.5 grams per tonne gold over 18.0 metres;
/square4 New geophysical target interpretation provides mult iple untested prospective target areas within
anomaly; and
/square4 Geological affinities to both volcanogenic massive sulphide ("VMS") and intermediate sulphidation
epithermal deposit models; Correlation of gold mineralization with strong IP chargeability signature
and silica alteration.
Drilling will start at the Ginger Ridge Main zone where an initial 3 to 4 holes are contemplated to test (i) the
northern limit of the IP chargeability anomaly, (ii ) a strong surface geochemical alteration zone near
previous drill hole GR14-03 and (iii) the strong an d discrete gold-in-soil anomaly located 1,200 metre s
southeast of the previous drill area. Following work at the Main zone, drilling will move to the Ginger Ridge
East soil anomaly to test parts of the anomaly which have coincidental high gold-in-soil values and a strong
magnetic geophysical low signature. An initial five drill holes are planned for this new priority area . As
previously stated, the number of holes and total me tres in this program could adapt as the program
progresses. Drill assay results will be reported as they become available.
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.