Dec 5 2014
Precipitate Gold Corporation is pleased to announce it has commenced ground geophysical surveying at the Ginger Ridge Zone within the Company's 100% owned Juan de Herrera project in the Tireo Gold Camp in the Dominican Republic.
A follow up ground geophysical program of magnetic and induced polarization ("IP") surveying has been initiated by the Company at Ginger Ridge. These two surveys will initially cover the +600 metre long corridor, which extends northwest from the recently announced gold discovery in drill hole 5, and success contingent, could include additional untested areas along the Ginger Ridge geochemical anomaly. The Company's recently announced discovery hole (hole 5) yielded a gold highlight interval of 13.4 g/t gold over 5.0 metres, within an interval of 98.1 metres (starting at 24.9 metres depth) of strongly disseminated, semi to massive pyrite (core measured interval, the true width is not known). The discovery hole represents a gold-enriched semi to massive sulphide body with VMS style affinities and provides an important signature and targeting tool for the next phase of work.
Jeffrey Wilson, Precipitate's President & CEO stated, "We're excited to be able to get back to work at Ginger Ridge with additional IP and magnetics surveying as, to date, geophysics has proven to be a critical exploration tool at Ginger Ridge and throughout the region. The correlation between the gold mineralization and geophysical anomalies coincident in our recent discovery hole provides an important signature and modelling tool for better vectoring of future drill targets. Equipped with this newly discovered signature, this detailed follow-up program of IP and magnetics allows the Company to expand and refine current targets while exploring for additional similar signatures elsewhere within Ginger Ridge."