Precipitate Receives Diamond Drill Permit for Ginger Ridge Zone in Dominican Republic
15 4월 2014 - 1:15AM
Marketwired
Precipitate Receives Diamond Drill Permit for Ginger Ridge Zone in
Dominican Republic
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 14, 2014) -
Precipitate Gold Corp. (the "Company" or "Precipitate")
(TSX-VENTURE:PRG) is pleased to announce that is has received
government authorization to diamond drill test its Ginger Ridge
zone within the Company's Juan de Herrera concession in the
Dominican Republic.
The Ministry of Environment and Natural Resources of Dominican
Republic has granted Precipitate a diamond drilling permit to drill
test the Ginger Ridge zone from up to fifteen drill pad locations.
Importantly, the Company has also obtained drilling authorization
from local surface land holders and the support of the region's
major municipal representatives. Precipitate has commenced planning
for an initial diamond drill program at Ginger Ridge, where recent
geochemical and geophysical results have provided multiple priority
targets for an initial phase of drill testing.
Jeffrey Wilson, Company President & CEO stated, "We are
pleased with the recent work conducted on our Dominican assets and
the pace of work in advancing the Ginger Ridge zone to an initial
drill stage in less than three months from receipt of the
concession grant from the Dominican government. This diamond drill
permit is a critical step in the Company's progression toward drill
testing multiple priority targets generated via the recent
geochemical and geophysical programs conducted at Ginger
Ridge."
In March 2014, grid-based soil sampling defined a
northwest-southeast trending gold enriched multi-element anomaly
measuring more than 2,000 metres ('m') by 450 m, with a robust
multi-element central core measuring 1,000 m by 450 m. Within the
surface gold anomaly, recent work extended a 13.0 m mineralized
trench to 32.5 m grading 1.0 g/t gold and 18 g/t silver, including
23.0 m of 1.3 g/t gold and 22 g/t silver, while remaining open to
the north and weakly to the south. At the same time, a new trench
was dug perpendicular to this trench and returned open ended
mineralization over 15.0 m grading 1.6 g/t gold and 25 g/t silver.
An IP geophysical survey was recently completed over the central
core of the gold anomaly, and returned encouraging results
indicating a strong correlation between the surface gold-in-soil
anomaly and sub-surface chargeability and resistivity highs over a
measured strike length exceeding 800 m. The geophysical
chargeability anomaly remains open in both directions and at depth
and will be the primary target of proposed diamond drill
testing.
The Company also wishes to announce it has granted a total of
510,000 incentive stock options to directors, officers, employees
and consultants of the Company, subject to TSX Venture Exchange
acceptance. Each option is exercisable to purchase one common share
of the Company until April 14, 2019 at a price of C$0.20 per common
share in accordance with the terms of the Company's stock option
plan.
Michael Moore, VP Exploration of the Company and Qualified
Person for purposes of National Instrument 43-101 has reviewed the
technical information in this news release.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused
on exploring and advancing its mineral property interests in the
Tireo Gold Trend of the Dominican Republic and Sonora State,
Mexico. The Company also maintains assets in northern British
Columbia and southeast Yukon Territory and 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
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.
Precipitate Gold Corp.Jeffrey WilsonPresident &
CEO604-558-0338 or Toll Free:
855-558-0335investor@precipitategold.comwww.precipitategold.com
Precipitate Gold (TSXV:PRG)
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