Precipitate Gold Corp. (TSXV:PRG) announced that it has commenced its Phase 2 drill campaign at the Ginger Ridge target within its Juan de Herrera
project in the Dominican Republic. As well, the company announced results from its ground magnetic geophysical survey at the JT Zone last week. The
drill program is expected to follow-up on the most recent drilling in 2014 which intersected 4.5 g/t Au over 18m. We expect that if the company is
able to deliver similar results from the planned 2,000m drill campaign it should be a positive catalyst for Precipitate.
Phase 2 drill campaign set out to expand upon the Hole 5 anomaly
. Precipitate’s 2,000m Phase 2 drill program consists of 10-12 step-out
holes targeting the North and South of the projected 1,000m long strike of the sulphide mineralization hosting Ginger Ridge discovery “Hole 5” which
returned 4.5 g/t Au over 18m, including 13.4 g/t Au over 5m, and is just South of GoldQuest’s (TSXV:GQC) Target A and B, discussed in our recent note
. The target’s magnetic anomaly trends Northwest, measuring 1,000m by 200m and remains open and untested to the North
and 200m South of Hole 5.
Magnetic ground survey identifies two prospective targets at the JT zone
. The ground magnetic work outlined two new prospective targets
with similar properties to that of Ginger Ridge. A 900m long open ended geochemical gold anomaly underlain by Tireo volcanic rocks with similar characteristics
to that of the nearby Ginger Ridge discovery was identified at the South target. While it is early days at the North target, which lays ~13 km South
of GoldQuest's Romero deposit (Figure 1), the initial work suggests this target has the potential to host a VMS target.
Company description: Precipitate Gold Corp (TSXV:PRG) is a mineral exploration company focused on exploring its mineral property located
in the Tireo Gold Trend of the Dominican Republic.
Derek Macpherson | VP Mining Analysis
Sunneva Bernhardsdottir | Associate, Mining Analysis
Victoria Ellis Hayes | Associate
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Company Specific Disclosure Details Precipitate Gold Corp. - TSXV: PRG - 3,4
GoldQuest Mining Corp. - TSXV: GQC - 1,2,4
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