Precipitate Gold Provides Dominican Republic Progress Update
Vancouver, B.C. -- September 12, 2012 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG) is finalizing, and expects to execute shortly, the formal contract with the vendors as announced August 16th to acquire 100 percent interest in two concession applications located in western Dominican Republic.
Precipitate has acquired regional data and satellite imagery for the two
concession areas. Evaluation of this data has highlighted a number of
structural lineaments and color anomalies that will be investigated
during a preliminary reconnaissance program. An initial program of
geological mapping, prospecting, silt and or bulk leach extractable gold
(BLEG) sampling is currently being designed. The primary focus of this
early exploration phase will be the prospective Tireo formation
lithologies found within the northeastern region of the Juan de Herrera
concession application area. This will be followed by ridge and spur and
detailed sampling and contour and grid soil sampling. Precipitate is
also investigating the use of airborne and ground geophysics to aid in
mapping and target definition. With $1.8 million in working capital,
Precipitate is well positioned to cover all near term exploration
expenditures planned for its newly acquired Dominican Republic assets.
Darcy Krohman, Precipitate's CEO commented that "We are rapidly assembling a comprehensive data base for the Tireo Project area that will give us a strong footing to work from. The addition of historical data from GoldQuest and initial field observations from our VP Exploration will allow us to hit the ground running early in Q4 and start defining and refining gold targets on this exciting new project."
Precipitate's VP Exploration and Technical Advisor are travelling to the Juan de Herrera concession this month to carry out initial ground proofing and set up logistical support for the detailed exploration programs to follow. GoldQuest Mining (GQC-V) is generating a list of historical samples from within the Juan de Hererra concession area taken by GoldQuest during its reconnaissance programs in the Tireo Formation region. This sample list will be used to finalize the data acquisition agreement between Precipitate and GoldQuest.
Additional information can be viewed within Precipitate's recently updated corporate presentation, which includes geological maps and other reference material: www.precipitategold.com.
Precipitate is focused on exploring and developing its gold properties in the Dominican Republic and northwestern Canada. The Company continues to review opportunities in both these and other geological and geopolitically attractive jurisdictions. With a proven management team, a growing portfolio of quality gold assets, including a prospective concession adjacent to GoldQuest's Tireo holdings in the Dominican Republic, and $1.8 million in working capital, the Company is well positioned for continued growth in 2012.
Darcy Krohman, Precipitate's CEO commented that "We are rapidly assembling a comprehensive data base for the Tireo Project area that will give us a strong footing to work from. The addition of historical data from GoldQuest and initial field observations from our VP Exploration will allow us to hit the ground running early in Q4 and start defining and refining gold targets on this exciting new project."
Precipitate's VP Exploration and Technical Advisor are travelling to the Juan de Herrera concession this month to carry out initial ground proofing and set up logistical support for the detailed exploration programs to follow. GoldQuest Mining (GQC-V) is generating a list of historical samples from within the Juan de Hererra concession area taken by GoldQuest during its reconnaissance programs in the Tireo Formation region. This sample list will be used to finalize the data acquisition agreement between Precipitate and GoldQuest.
Additional information can be viewed within Precipitate's recently updated corporate presentation, which includes geological maps and other reference material: www.precipitategold.com.
Precipitate is focused on exploring and developing its gold properties in the Dominican Republic and northwestern Canada. The Company continues to review opportunities in both these and other geological and geopolitically attractive jurisdictions. With a proven management team, a growing portfolio of quality gold assets, including a prospective concession adjacent to GoldQuest's Tireo holdings in the Dominican Republic, and $1.8 million in working capital, the Company is well positioned for continued growth in 2012.
September 12, 2012 (Precipitate Gold Corp.)
http://www.precipitategold.com/s/news.asp?ReportID=547751
Disclosure: Precipitate Gold is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR
team may hold long positions in PRG.V. The editor of GGR participated in a
private placement for Precipitate Gold and holds a long position at the time of
publication.
