Vancouver, British Columbia--(Newsfile Corp. - May 7, 2019) - Precipitate Gold Corp. (TSXV: PRG) ("Precipitate" or the "Company") is pleased to announce it has commenced a ground magnetic geophysical survey at the Lithocap Zone of the Company's 100% owned Pueblo Grande Project located three kilometres west of Barrick's Pueblo Viejo gold-silver mine in the Dominican Republic.
The Company's field crews have completed a grid line cutting program in advance of a minimum 38 line kilometre ground magnetic geophysical survey to be conducted over the highly prospective Lithocap Zone. The magnetic survey will consist of an estimated 24 east-west oriented parallel lines extending up to 2.6 kilometres in length, at both 100 and 200 metre line spacing. The purpose of the survey is to provide detailed ground magnetic data to augment existing airborne magnetic data along with pending results from the Company's recently completed infill soil sample survey conducted over the same Lithocap Zone area. Results from the recently completed soil sampling program will be released as they become available.
Jeffrey Wilson, Precipitate's President & CEO stated: "We are pleased to initiate the ground magnetic survey over the highly prospective Lithocap Zone as it will provide quality geophysical data for us to utilize in combination with the exiting regional airborne magnetic information generated by a prior operator. When combined, the new ground and airborne data will improve our subsurface knowledge, particularly via the use of 3D inversion computer modelling. Collecting and modelling this important geophysical data in conjunction with the pending geochemical results will assist vectoring toward priority target areas and specific drill target delineation for an anticipated initial phase of drilling."
This news release has been reviewed by Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company 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 also maintains the Reef property located immediately adjacent to Golden Predator's 3 Aces Project in the Upper Hyland River area, Yukon Territory. The Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also 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.,
President & CEO
For further information, please contact:
Toll Free: 855-558-0335
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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.
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