Precipitate Gold (PRG-V)
http://www.precipitategold.com
25.4 million o/s
$2 million in the kitty
Adrian Fleming
Chairman of the Board
Mr. Fleming is a geologist with 35 years diversified experience including exploration, project development and operations of mining projects. He was CEO of Underworld Resources (White Gold discovery in the Yukon), which was acquired by Kinross Gold. Adrian is currently CEO of Smash Minerals Corp and a director of Tarsis Exploration.
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Precipitate plans Dominican Republic concessions work
Sept 12, 2012 - News Release
Precipitate Gold Corp. is finalizing, and expects to execute shortly, the formal contract with the vendors as announced Aug. 16 to acquire 100-per-cent 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 these data has highlighted a number of structural lineaments and colour 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 chief executive officer, commented: "We are rapidly assembling a comprehensive database 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 vice-president, exploration, will allow us to hit the ground running early in the fourth quarter, and start defining and refining gold targets on this exciting new project."
Precipitate's VP exploration and technical adviser 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 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, at its website.
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