Precipitate Gold Corp. is a Vancouver, British Columbia-based gold exploration company currently focused on its 100% interest in two mineral concessions in the Dominican Republic that are currently under application. The concessions are located within the highly prospective "Tireo Gold Trend" in the western portion of the Dominican Republic. The Gold Trend runs northwesterly and ending north of the Dominican-Haitian border and is underlain by Upper Cretaceous Tireo formation volcanic and sedimentary rocks. Precipitate's Juan de Herrera concession directly adjoins the Tireo belt holdings of GoldQuest Mining Corp on their southwest and south sides. The second concession, Higos Blancos, covers part of a large exposure of Tireo formation rocks to the east.
Precipitate's first pass programs of sampling and mapping, have refined and expanded two priority target areas, the Melchor and Ginger Ridge gold zones on the Juan de Herrera concession.
- Sampling and mapping at the Ginger Ridge zone has identified a prospective area extending at least 1,100 metres long, with rock grab samples up to 11.8 grams per tonne ('g/t') gold and >100 g/t silver.
- Precipitate's rock and soil sampling at the Melchor zone, has identified an area of surface quartz vein outcrop and float, where rock grab samples have yielded results of 6.3 g/t gold and 4.0 g/t gold.
The planned follow up program at Ginger Ridge and Melchor is expected to commence before the end of February and will include geological mapping, detailed ridge and spur soils, and rock chip sampling.
Precipitate recently announced that the Company has reached an agreement with Gunpoint Exploration Ltd. whereby Precipitate can acquire a 100% interest in the Cecilia gold-silver project in northeastern Sonora state, Mexico. The Cecilia project is a low sulphidation epithermal gold-silver target hosting a large number of historic workings centered on gold-silver bearing quartz veins and breccias. Work by previous operators has included sampling, mapping, trenching, geophysics, and diamond drill programs. Highlight results reported by prior operators include:
- Rock chip samples 101.6 metres grading 0.96 g/t gold, including 30 meters grading 2.0 g/t gold.
- Drill hole 88-03 returning 180 metres @ 1.2 g/t gold and 20 g/t silver from surface.
- Drill hole 88-04 returning 100 metres @ 0.7 g/t gold and 15 g/t silver.
- Rock grab samples reporting up to 52.6 g/t gold and up to 1,128 g/t silver.
Widespread low sulphidation epithermal mineralization on Cerro Magallanes is indicative of a complex system that was subjected to several episodes of fluid flow. All prior work, such as that reported above has focused on outcrops of the impressive Cerro Magallanes. However, there is unexplored potential surrounding Cerro Magallanes, particularly on main structural trends beneath shallow cover which is an order of magnitude larger than the known exposure of the Magallanes zone. These peripheral areas have never been explored by modern methods. Precipitate's initial priority will be to confirm many of the existing gold/silver zones and generate new targets "off the Cerro" in search of new and potentially larger zones.
Corporate Profile on Stockhouse
Jeffrey R. Wilson
President & CEO
Jeffrey R. Wilson has 20 years of experience in the mineral exploration and mining investment industry. Mr. Wilson brings to Precipitate a wealth of contacts throughout the investment community including institutional investors, retail brokers, investment bankers, mining analysts and private investors. During his career, Jeffrey has been involved in numerous equity financings, ranging from IPOs to private placements and syndicated brokered financings. Mr. Wilson began his career in the early 1990's as an Investor Relations Manager and eventual Director of two public companies, namely Welcome Opportunities Ltd. (which was bought out by Endeavour Mining Capital in 2002) and Aquiline Resources Ltd. (which was bought out by Pan American Silver in 2009). In 2005, Mr. Wilson was involved in the formation of Silver Quest Resources Ltd., which was bought out in 2012 by New Gold Inc. Most recently, Mr. Wilson was VP Corporate Communications at Geologix Explorations Inc.