Precipitate’s Assets in the Dominican Republic Continue to Deliver
Yesterday, Precipitate Gold Corporation (PRG.V) announced impressive results from its recent exploration program at its Juan de Herrera concession application in the Dominican Republic’s Tireo Gold Trend. This follow-up program of sampling and mapping at the newly discovered Ginger Ridge Zone returned the following highlight results:
- 13.0 metres of 1.48 g/t gold and 20.38 g/t silver in continuous rock chip channel samples; mineralization remains open in all directions
- Definition of a gold-enriched multi-element geochemical anomaly measuring about 1,000 metres long by up to 400 metres wide
- Potential on-strike expansion of the Ginger Ridge soil anomaly to greater than 1,700 metres long
Expanding the Ginger Ridge anomaly and identifying consistent gold distribution over 13.0 meters indicates that the Ginger Ridge zone is evolving into a compelling epithermal gold-silver target warranting further exploration work. The Company anticipates future work will include additional sampling, mapping, and an induced polarization (“IP”) survey aimed at delineating first-phase drill targets.
For those who have followed the success of Precipitate’s neighbors (GoldQuest and Unigold), the commencement of IP work is a significant catalyst in the exploration process, as IP surveys have proven highly effective in delineating drill targets and eventual discoveries for others in the Tireo Gold Trend.
In the meantime, Precipitate may benefit from the commencement of IP work just across the concession boundary where GoldQuest has announced it has initiated IP work at their Jengibre zone located less than 10 kilometers from Precipitate’s Ginger Ridge. GoldQuest has also reported a drill rig will be allocated to Jengibre this summer to test any targets their IP identifies. Any additional success at GoldQuest’s ground could translate to added traction for the Precipitate story.
Today’s news validates Precipitate’s mandate to rapidly and systematically advance its assets from a “location play” to prospective exploration target with increasingly encouraging results and follow up stages of work to maintain its momentum and continue to deliver news.
In related news, earlier in the same day, Precipitate’s Dominican Republic Tireo Gold Trend neighbor, Unigold Inc., issued a news release announcing a proposed strategic investment from the IFC, a member of the World Bank Group, of $5,000,000. I’m encouraged by this, as it appears to validate the opportunities being identified within this region, and indicates that in spite of recent metal price depression and seemingly receding investment capital, there are groups who see opportunity in this environment and are willing to deploy capital for the right situations.