Mr. Jeffrey Wilson reports
PRECIPITATE'S LATEST IP RESULTS PRODUCE EMERGING NEW DRILL TARGETS AT SOUTHEAST AND SOUTH JENGIBRE ZONES
Precipitate Gold Corp. has released results and interpretation from the latest geochemical and geophysical surveys at the Southeast and South Jengibre zones within the company's 100-per-cent-owned Juan de Herrera project in the Dominican Republic. The latest results have elevated these zones into emerging possible future drill targets.
Precipitate has completed a comprehensive interpretation of recently collected geophysical and geochemical survey data at the Southeast and South Jengibre zones, both located approximately six kilometres southeast of the company's Ginger Ridge zone. Collectively, soil and rock sample results, along with induced polarization (IP) and magnetic geophysical survey data, have outlined compelling multilayered anomalies at both the Southeast and South Jengibre zones. Notably, surface rock grab sampling at the Southeast zone has identified a new high-grade copper showing, with laboratory values up to 13.5 per cent copper, 0.5 gram per tonne gold and 52.1 g/t silver.* This early-stage Southeast zone copper showing and other anomalous gold-copper sample locations eastward into the nearby South Jengibre zone are the focus of continuing follow-up exploration work. See the company's website for the gold-in-soil anomalies at the Southeast and South Jengibre zones and IP plus magnetic geophysics illustration maps.
Recently completed interpretation of newly generated geophysical data along with current exploration data of the Southeast and South Jengibre zones has yielded the following highlight results:
Southeast zone
650-metre-by-125-metre multielement soil anomaly with gold up to 144 parts per billion, along with various pathfinder elements (open in all directions, except to the southeast); Northwest-trending soil anomaly coincident with important geophysical features, including moderate to high IP chargeability and resistivity and magnetic low signatures important for potential gold mineralization in the region; Discovery of a new early-stage high-grade copper showing with strong disseminations of chalcopyrite (rock grab samples reporting up to 13.5 per cent copper, 0.5 g/t gold and 52.1 g/t silver*); Sampling of other areas between Southeast and South Jengibre has reported copper values up to 1.1 per cent and gold values up to 1.1 g/t.
South Jengibre zone
350-metre-by-150-metre multielement soil anomaly with gold up to 229 ppb, open to the southeast; Gold-in-soil anomaly correlates with pathfinder elements, zinc and lead, with lesser silver and antimony; Soil anomaly is coincident with moderate IP chargeability and high IP resistivity and moderate magnetic low signatures; Located only two kilometres south of Goldquest Mining's Jengibre zone, where past work reported highlight rock channel sampling results of 59.5 metres grading 1.58 g/t gold (see Goldquest's news release dated October 7, 2009) and rock samples to 17.7 g/t gold and 1.4 per cent copper; Rock grab sampling southwest of the main trend has reported gold values up to 5.2 g/t and 1.25 g/t across a 4.0-metre outcrop.
Jeffrey Wilson, Precipitate's president and chief executive officer, commented: "We are pleased that our extensive IP and ground exploration work over recent months is yielding positive results and delineating prospective new targets. The identification and refinement of the multilayered geophysical-geochemical anomalies at both the Southeast and South Jengibre zones substantially expands the scope and scale of our ongoing exploration on the project with additional potential drill targets emerging to augment our current work at Ginger Ridge. In addition, the discovery of a new high-grade copper showing at the Southeast zone is an important development, as it is the first time field crews have identified a significant surface volcanic rock exposure enriched with chalcopyrite (copper) within our Juan de Herrera property."
Work on the Southeast zone has identified a northwest-trending, 650-metre-by-125-metre multielement soil anomaly that is open in all directions, except to the southeast. The soil anomaly is characterized by a correlation of gold with various pathfinder elements that include silver, arsenic, antimony, selenium, and moderate lead and zinc. The zone is coincident with: (i) moderate high and locally variable IP chargeability and resistivity anomalies; and (ii) a magnetic low signature. At the zone's new copper showing, five rock grab samples were collected from outcroppings over an estimated area measuring 10 metres by five metres, where volcanic rocks host strong disseminations and fracture infills of chalcopyrite, yielding up to 13.5 per cent copper, 0.5 g/t gold, 52.1 g/t silver and greater than 100 g/t selenium.*
The South Jengibre zone is marked by a 350-metre-by-150-metre multielement soil anomaly that is open to the southeast. The soil anomaly is characterized by a correlation of gold with several pathfinder elements that include zinc and lead, with lesser silver and antimony; the relative strength of the zinc-in-soil anomaly is notable. The South Jengibre zone is coincident with: (i) moderate IP chargeability and high IP resistivity anomalies; and (ii) a modest and diffuse magnetic low signature. Cursory sampling of small local rock outcrops, located about 200 metres south of the gold-in-soil anomaly, reported gold results from nil to four metres grading 1.25 g/t gold from an exposure of sheeted and stockwork veins accompanied by disseminated pyrite and silica flooding.
Soil sampling at the Southeast-South Jengibre zones covers an expanse measuring about 2.5 kilometres by 500 metres, covering the most prospective Cretaceous-aged Tireo volcanic rocks in the area. Current soil sample density ranges from 25-metre to 50-metre intervals along northeast-oriented lines at 50-metre to 200-metre line spacing; additional soil sampling is essential and planned for the area. The gold-in-soil anomalies are defined by values exceeding the 70th percentile or 4.7 ppb. To date, gold-in-soil values for the two zones range from nil to 229 ppb.
Rock and soil samples were bagged, sealed and delivered directly to the Bureau Veritas (BV) preparation facility in Maimon Dominican Republic, where they were dried, crushed (or sieved in the case of soils) and pulped. Sample pulps were then delivered to BV facilities in Vancouver, B.C. (an ISO 9001-accredited facility), for analyses. Samples were crushed (or sieved) to with up to 80 per cent passing two millimetres and split using a riffle splitter (code PRP70-250). An approximately 250-gram subsample split was pulverized to minus 200 mesh (74 microns). A 15-gram subsplit from the resulting pulp was then subjected to aqua regia digestion and multielement ICP-MS analysis (code AQ201). Rock sample results with gold greater than 1,000 ppb were subjected to fire assay (ICP-ES finish) analysis (30-gram pulp -- code FA330-Au). The induced polarization/resistivity survey was carried out by Matrix Geotechnologies Ltd. of Toronto, Ont., using a 10-kilowatt generator time-domain IP system using the Elrec Pro 10 channel receiver with a receiver dipole spacing of 25 metres (pole-dipole array), which provides quality subsurface resolution for 2-D quantitative sections and 3-D voxel modelling for exploration drill targeting.
This news release has been reviewed by Michael Moore, PGeo, vice-president, exploration, of Precipitate, the qualified person for the technical information in this news release under National Instrument 43-101 standards.
* Surface rock grab samples are selective by nature and are unlikely to represent average grades of the zone.
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