Precipitate Gold Corp.
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. Over 5.0 million gold equivalent ounces have been identified in the Tireo Gold Trend in recent years while vast areas of prospective ground have remained untested.
The Company also maintains assets in 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.
Juan de Herrera Gold Project in the Dominican Republic
The Company is focused on advancing several emerging targets within its 100%-owned flagship Juan de Herrera Project. The Juan de Herrera project is variably road accessible and is well located within the Tireo Gold Trend in western Dominican Republic. The Tireo Gold Trend is a highly prospective and emerging exploration camp with intermediate sulphidation epithermal and VMS styles of mineralization. The Juan de Herrera project concessions cover an estimated 40 kilometres of prospective strike length of target Tireo lithologies.
Current Focus and Goals
Ginger Ridge Main and East Zones Exploration Summary
Precipitate's primary exploration focus is to identify intermediate sulphidation epithermal and VMS styles of mineralization. Since announcing its initial Dominican Republic property acquisitions in August 2012, the Company has completed multiple phases of regional and local scale exploration work.
To date detailed exploration programs have focused on the "Ginger Ridge Main Zone", as well as the recently identified "Ginger Ridge East Zone". The Ginger Ridge South zone has seen limited exploration including surface sampling and trenching and single drill hole GR17-15.
Detailed exploration at Ginger Ridge Main Zone includes geological mapping, rock-soil sampling, hand trenching, multiple phases of induced polarization and ground magnetic geophysical surveying and 15 diamond drill holes totalling 3,270 metres (3 phases).
Early drilling (2014) at the Ginger Ridge Main Zone discovered a new zone of gold-enriched massive sulphide mineralization; ‘discovery hole' GR14-05 cut 98.1 metres of strongly disseminated, semi to massive sulphides (dominantly pyrite), containing an 18.0 metre wide interval of 4.54 g/t gold (including 5.0 metres at 13.37 g/t gold).
Holes reported from Phase 2 drilling (holes 7 to 11) were not as robust as the mineralization identified in the discovery hole. Subsequently completed holes GR17-12 to 15 reported results for the Main and South parts of the Ginger Ridge area. Highlight results include the discovery of mineralization in a previously untested anomaly to the south of the Main zone yielding a 1.1 m interval of 2.59 g/t gold, (including 0.11% copper, 0.6% lead and 0.65% zinc) (GR17-15) and a Main Zone drill intercept of 14.73 m of 1.16 g/t gold, including 2.67 m of 2.23 g/t gold (GR17-13).
Additional Target Zones
Management and Directors
Adrian Fleming, Chairman, Director
Responsible for discovery of Underworld Resources' White Gold deposit. Underworld bought by Kinross for $139.0M in 2010. Current director of multiple resource-focused public companies.
Jeffrey Wilson, President and CEO, Director
Over 20 years experience. Background in IR and finance. Past Director Welcome Opportunities (purchased by Endeavour Mining 2002) and involved in the formation of Silver Quest Res. (bought by New Gold in 2012 for a value of $130.0M). Former VP at Geologix Explorations.
Quinton Hennigh, Ph.D, Director
Economic Geologist and CEO of Novo Resources. Previous President of Evolving Gold Corp.
Alistair Waddell, Director
Former President and CEO of GoldQuest Mining Corp. Former VP, Greenfields Exploration for Kinross Gold Corp.
Darryl Cardey, CA, Director
Co-founder and former director of Underworld Resources. Current Director of multiple resource-focused public companies.
Michael Moore, P.Geo., Vice President of Exploration
Over 25 years experience including work on various gold systems in North America, Cuba, Ghana, Greenland and archean nickel-PGM deposits in Nunavut, and manto-CRD type systems in Mexico.
Lon Shaver, CFA, B.Comm., Director
Over 25 years of capital markets and corporate finance experience, mostly focused on the Canadian mining sector.
On October 24, 2018, Precipitate Gold Corp. announced that it has entered into a purchase-sale agreement with Everton Resources Inc. (“Everton”) (TSX.V: EVR) whereby, subject to closing, Precipitate will acquire a 100% interest in three of Everton’s Dominican Republic exploration concessions, including two highly prospective concessions (the “Pueblo Grande Property”), adjoining Barrick’s and Goldcorp’s world-class Pueblo Viejo gold-silver mine, one of the largest gold mining operations in the world.
On June 6, 2018, Precipitate Gold Corp. announced that it has appointed Lon Shaver to the Company's board of directors. Mr. Shaver has over 25 years of capital markets and corporate finance experience, mostly focused on the Canadian mining sector.
On February 27, 2018, Precipitate Gold Corp. has released details from compiled results and interpretation from the latest geochemical survey at the Southeast and South Jengibre zones located within the company's 100-per-cent-owned Juan de Herrera project in the Dominican Republic. Precipitate's new geochemical data elevates Southeast and South Jengibre zones to high priority targets at the Juan de Herrera project.
On February 15, 2018, with great sadness and regret that Precipitate Gold Corp. announced the sudden death of one of the Company's founding directors, Gary Freeman.
On February 13, 2018, Precipitate Gold Corp. has released regionally compiled results of its near property-wide soil sampling program conducted on its 100-per-cent-owned Juan de Herrera project in the Dominican Republic.
The combination of previously collected soil sampling analyses with recent XRF (X-ray fluorescence) scanning data from a nearly property-wide regional scale survey has identified numerous new and very extensive base metal anomalies (copper, lead and zinc) on the Company's Juan de Herrera property.
On February 8, 2018, Precipitate Gold Corp. announced that Golden Predator Mining Corp. will proceed with its option to earn a 100-per-cent interest in Precipitate Gold Corp.'s Reef property. Golden Predator has delivered to Precipitate certain first-anniversary payment obligations, including:
On November 28, 2017, Precipitate Gold Corp. announced that it has increased the size of its Island Zinc project located in north Vancouver Island, British Columbia, by staking an additional 675 hectares of prospective ground west of the original claim block. The new claim block covers an on-strike extension of the same favourable target limestone rocks found at the property's Main zone and includes three historical zinc-lead-silver mineral showings.
The Island Zinc property now includes two non-contiguous claims covering a combined total of 1,023 hectares.
On October 24, 2017, Precipitate Gold Corp. announced that it has completed an extensive and detailed soil sampling program throughout the southern portion of the Company's 100-per-cent-owned Juan de Herrera project in the Dominican Republic. Field crews have collected approximately 8,500 new soil samples and are now analyzing the samples with a portable XRF (X-ray fluorescence) analyzer.