Precipitate Granted Concession to Explore Juan de Herrera Project in the Dominican Republic
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 16, 2014) - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSX VENTURE:PRG) is pleased to report it has received, from the Dominican Republic's Ministry of Industry and Commerce, notice of the final granting of the exploration concession for the Company's Juan de Herrera project in the Dominican Republic's Tireo gold belt. Precipitate will now plan to commence more advanced and detailed exploration at Juan de Herrera with the objective of defining priority targets for a possible initial program of drilling.
Precipitate's President & CEO, Jeffrey Wilson stated "We are pleased to have received this critical concession grant for our Juan de Herrera project and we're keen to initiate follow up exploration and gold target delineation. Although the process and timeline to this point has been lengthier than anticipated, we're appreciative of the efforts of the Dominican Government's Ministry of Industry and Commerce, and specifically its Director of Mining, Mr. Alexander Medina, whose department worked diligently to facilitate this grant. With the concession now granted, Precipitate is fully funded to initiate and complete the next phase of work at Juan de Herrera."
The Juan de Herrera concession covers an area of 6,542 hectares adjacent to GoldQuest Mining's Las Tres Palmas (Romero) Project within the highly prospective Tireo formation. Precipitate's initial programs of sampling and mapping at Juan de Herrera in late 2012 and early 2013 delineated two mineralized areas of interest within the concession boundaries. The priority, Ginger Ridge zone hosts a gold-rich geochemical anomaly measuring more than 1,000 metres by 400 metres, with highlight individual grab samples of 11.8 g/t gold and 39.0 g/t silver, and continuous channel samples returning 1.5 grams per tonne ('g/t') gold and 20 g/t silver over 13.0 metres (open at both ends). These encouraging initial results warrant follow-up exploration to better delineate potential low to intermediate sulphidation gold-silver targets at Ginger Ridge.
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.
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.
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.
Additional information can be viewed at the Company's website www.precipitategold.com.