Sep 24 2015
Precipitate Gold Corporation is pleased to announce the results of its regional airborne geophysical survey at its 100% owned Juan de Herrera project located within the Dominican Republic's Tireo Gold Camp.
The Company completed a helicopter-borne geophysical survey covering two prospective areas underlain by target Tireo volcanic rocks, host to all known gold resources in the trend. The survey was conducted using high sensitivity magnetic and radiometric detectors. A total of 487 line kilometres were surveyed, with north-south oriented lines at 120 metre wide line spacing and a mean terrain clearance of 30 metres.
The survey successfully identified multiple new geophysical anomalies with similar magnetic signatures to those found at numerous known mineralized zones within the Company's project and throughout the Tireo belt. Several of these newly identified anomalies and trends compare favorably to known mineralized areas in the belt and/or underlie areas where prior reconnaissance sampling returned anomalous gold values. As such, these prospective new anomalies warrant follow-up exploration and are currently being assessed and prioritized in advance of the next phase of ground work expected to commence in the coming weeks.
Highlights of Precipitate's airborne geophysical survey include:
- Three new magnetic trends identified: Ginger Ridge, Jengibre and Melchor Magnetic Trends;
- All three new magnetic trends are "on-strike" from multiple known mineralized zones within the Tireo belt, such as Ginger Ridge, Melchor and GoldQuest's Jengibre and Loma Viejo Pedro;
- The new magnetic trends range in estimated length from 3.5 to 15 kilometres long; and
- Large contiguous exposures of Tireo volcanics delineated within Precipitate's project, defining prospective priority targets for follow up ground work.
See the accompanying map illustration showing the combined 2014 GoldQuest Mining Corp ('GoldQuest" or 'GQC') and 2015 Precipitate Total Magnetic Intensity airborne geophysics: http://media3.marketwire.com/docs/1026025_map.pdf
Jeffrey Wilson, Precipitate's President and CEO stated, "We are very pleased with the results of the airborne geophysical survey, as we've achieved our objective in identifying multiple new geophysical anomalies with magnetic signatures analogous to those found at known mineralized zones throughout the belt, including the Company's Ginger Ridge zone and other nearby areas of gold-copper mineralization. The delineation of these new anomalies not only increases the size potential of the project but provides a proven vectoring tool for streamlining the Company's follow-up ground work and delineating additional drill worthy targets at Juan de Herrera."
Within the Tireo Gold Camp, both airborne and ground based magnetic geophysical surveying has proven to be a quick and highly effective guide to highlighting areas of rock alteration with the potential to host economic gold-copper mineralization. Regionally, many of the Tireo Gold Camp's gold-copper showings are associated with magnetic lows (blue colour contours) indicating zones of magnetite destructive alteration. Precipitate's recent airborne geophysical survey has outlined three magnetic anomalous trends that the Company has labeled Ginger Ridge, Jengibre and Melchor trends. These trends have a northwest-southeast orientation and extend through both Precipitate's and GoldQuest's concessions.