Precipitate Gold Corporation (PRG.V)
Recent News out of neighboring GoldQuest sparks increased interest in Precipitate Gold Corp’s Dominican Republic assets.
Last week GoldQuest Mining reported the discovery of a new geophysical trend two kilometers west of the Romero discovery at their Las Tres Palmas Project in the Dominican Republic. The release also reported the commencement of a ground geophysical program over GoldQuest’s “Jengibre” anomaly, which is located just across the concession boundary from Precipitate’s two newly discovered zones, “Ginger Ridge” and “Melchor”. GoldQuest currently operates three drill rigs; a fourth has cleared customs and is expected to begin drilling Jengibre this Spring/Summer. Prior drilling at Jengibre by GoldQuest returned encouraging results, including 22m of 2.0 g/t gold. Meanwhile at Precipitate’s Ginger Ridge target, adjacent to Jengibre, surface grab samples of up to 11.8 g/t gold and over 100 g/t silver were reported by Precipitate in January of this year. Precipitate recently completed a follow-up program of sampling and mapping at Ginger Ridge and Melchor and results are expected in the coming weeks.
Precipitate’s ongoing exploration and pending sample results, combined with GoldQuest renewed interest and increased workload at Jengibre could heighten interest in area play. Both Goldquest and Precipitate Gold shares saw price and volume increases within a very poor overall junior market. This suggests some speculators are still willing to pay up for exploration results.