PRG-V
Precipitate Enters Final Stages of Concession Application for Additional Property in Dominican Republic
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 22, 2014) -Precipitate Gold Corp. (the "Company" or "Precipitate") (TSX VENTURE:PRG) is pleased to announce it has reached the important and concluding application stage of its Hato Nuevo property. In advance of a final concession grant, the Company has reached the penultimate "Extracto stage" in the application process. Known internally to Precipitate as the Hato Nuevo property, the concession application is officially named "Los Pinalitos" by Dominican Republic authorities.
The Hato Nuevo property comprises 1,444 hectares and is contiguous to and northwest of Precipitate's Juan de Herrera concession and immediately adjacent to the west of Goldquest's Las Tres Palmas project. Early stage reconnaissance sampling at Hato have yielded gold results up to 3.7 g/t in rock grab samples (Note: Rock grab samples are selective by nature and are unlikely to represent average grades on the property).
Precipitate's President & CEO, Jeffrey Wilson stated, "We're pleased to have advanced a second concession application to the Extracto Stage, as part of our intention to increase our holdings in the favourable Tireo Gold Belt of the Dominican Republic. Upon receipt of the final concession grant, the Company will design a follow up program at Hato Nuevo with a view to expanding on newly identified geochemical anomalies which were discovered during the Company's 2013 reconnaissance exploration work."
Receipt of the Extracto represents a critical threshold in the concession approval process. Precipitate will complete the remaining applicant obligations in anticipation of final grant of the concession, expected in the coming months.
Michael Moore, VP Exploration of the Company and Qualified Person for purposes of National Instrument 43-101 has reviewed the technical information in this news release.
Rock samples were bagged, sealed and delivered directly to Acme Labs preparation facility in Maimon Dominican Republic where they were dried, crushed and pulped. Sample pulps were then delivered to Acme labs facilities in Vancouver BC (an ISO 9001 accredited facility) for analyses. Samples were crushed to with up to 80% passing 2mm and split using a riffle splitter. An approximately 250 gram sub-sample split was pulverized to minus 200 mesh (74µ). A 15 gram sub-split from the resulting pulp was then subjected to aqua regia digestion and multi-element ICP-MS analysis.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend of the Dominican Republic and Sonora State, Mexico. The Company also maintains assets in northern British Columbia and southeast Yukon Territory and is actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value.
Additional information can be viewed at the Company's website www.precipitategold.com.
On Behalf of the Board of Directors of Precipitate Gold Corp.,
Jeffrey Wilson, President & CEO
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