VANCOUVER — It took junior Precipitate Gold (TSXV: PRG; US-OTC: PREIF) roughly two years of sociopolitical wrangling to get its drills turning, but only a fraction of that time to make a discovery at its 125 km2 Juan de Herrera concession within the Dominican Republic’s emerging Tireo gold trend. On Sept. 23 Precipitate announced results from a six hole drill program at its Ginger Ridge zone that unveil the potential for a gold rich volcanogenic massive sulphide (VMS) deposit.
The company grabbed the ground in 2012 following GoldQuest Mining‘s (TSXV: GQC; US-OTC: GDQMF) nearby Romero discovery, which has evolved into a deposit that hosts 19.4 million indicated tonnes grading 2.63 g/t Au, 0.63% Cu, 0.29% Zn, and 3.7 g/t Ag for 2.4 million oz contained gold equivalent.
“We were sort of handcuffed by permitting delays for the better part of 18 months,” comments president and CEO Jeffrey Wilson during an interview. “We did some surface work and geochemistry, but couldn’t proceed with trenching, geophysics or drilling. We got the green light in January, and were off to the races.”
The company sent vice-president exploration Michael Moore and his team down to literally walk the ground and get a grasp on potential areas of interest, and ended up with two prospective targets in the Ginger Ridge and Melchor showings.
Read the complete article at NorthernMiner.com/news/precipitate-gold