Jul 30 2014
Precipitate Gold Corp. is pleased to announce the commencement of a first-phase drill program at the Ginger Ridge gold zone within the Company's 100% owned Juan de Herrera project in the Tireo Gold Camp in the Dominican Republic.
The drill and crews have been mobilized to site and the Company's maiden drill program at Ginger Ridge is now underway. The program will total approximately 1,200 metres ("m") of diamond drilling and consist of 6 to 8 holes aimed at testing priority near-surface target areas within the central core of the Ginger Ridge gold geochemical anomalies. Drilling will be carried out by Energold Drilling Corp., utilizing the same type of man-portable hydraulic drill rig that has been successfully utilized elsewhere in the region, with minimal environmental footprint.
Initial drilling will focus on the main trench zone and associated geophysical chargeability and multi-element geochemical soil anomalies, with subsequent holes testing target areas on strike to the northwest and southeast. Multiple coincident induced polarization ("IP") and multi-element soil geochemical anomalies exist within the 800 m long central core of the Ginger Ridge zone and drilling will test several of these targets over the course of the expected 4 to 6 week program.
Jeffrey Wilson, Company President & CEO stated, "We are excited at the prospect of initiating this drilling program at the Ginger Ridge zone. Our work to date, including prospecting, mapping, geochemical and geophysical surveys has all systematically and progressively delineated multiple highly prospective drill-worthy targets. Ongoing work continues to expand our geological knowledge of the area, while uncovering additional targets for ongoing exploration and possible drilling. We're excited at the prospect of testing the Ginger Ridge zone as part of the Company's objective to make a bona fide new discovery within the highly prospective and underexplored, Tireo Gold belt in the Dominican Republic, where multiple other significant discoveries have been made in recent years (GoldQuest's Romero, and Unigold's Neita). In addition, our ongoing exploration potential in the region has increased substantially in recent weeks with the addition of several new prospective, underexplored property acquisitions that have enhanced our in-country land package."
Recent mapping carried out in advance of the drill program indicates the target stratigraphy in the main anomaly/trench area appears to be near vertical in orientation, providing potential for near-surface mineralization. In addition, more detailed mapping to the northwest of the initial target area has identified encouraging evidence of a rhyolite dome in the northern portion of the main anomaly. Rhyolite domes are often associated with several types of gold and volcanogenic massive sulphide deposits.