Precipitate Reports Results for 2,050 metre Diamond Drill Program at Pueblo Grande Norte Target, Dominican Republic
Rhea-AI Summary
Precipitate Gold (OTCQB: PREIF) reported final results from its 2,050 metre, five‑hole diamond drill program at the Pueblo Grande Norte zone in the Dominican Republic. The campaign tested newly identified induced polarization chargeability and resistivity anomalies within the central Pueblo Grande North zone.
According to Precipitate Gold, drilling intersected strong alteration, elevated pyrite and extensive silicification that correlate well with the geophysical anomalies, effectively validating the IP survey. However, laboratory assays returned no economically significant mineralization in any hole. With this phase complete, management plans to refocus exploration on the flagship Juan de Herrera project while reviewing new and historical data to decide on any future work at Pueblo Grande.
Positive
- 2,050 metres in 5 diamond drill holes completed at Pueblo Grande Norte
- IP anomalies validated by strong correlation with pyrite, silicification and alteration in core
- Core recovery averaged 97%, with near 100% of each hole sampled
- Refocus on flagship Juan de Herrera project following completion of this drill phase
Negative
- No economically significant mineralization intersected in any of the 5 drill holes
- Initial Pueblo Grande Norte drill test did not meet management’s mineralization expectations
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Vancouver, British Columbia--(Newsfile Corp. - July 29, 2026) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the "Company" or "Precipitate") announces the final results of its diamond drill program at the Pueblo Grande Norte zone of the Company's
The completed drill campaign consisted of five diamond drill holes totaling 2,050 metres and was designed to test a newly identified cluster of induced polarization ("IP") geophysical chargeability-high anomalies located within the central portion of the Pueblo Grande North zone. Drilling successfully tested several of the IP geophysical anomalies. Final laboratory results indicate that no economically significant mineralization was intersected in any of the holes. A plan map and sections of IP chargeability anomalies, drill collar locations, and drill hole traces are illustrated in the accompanying Figure 1 below.
Michael Moore, Precipitate's Vice President, Exploration stated, "Since January, we swiftly delineated compelling untested IP geophysical anomalies warranting further investigation. We efficiently moved to drill test the main portions of these chargeability and resistivity anomalies in a targeted and cost-effective drill program. All drill holes intersected lengthy intervals of strong rock alteration and highly elevated pyrite concentrations which coincide with the recently identified IP geophysical anomalies, even so, the drill core sampling results have fallen short of our aspirations. This new drill data provides the Company with important geological, alteration and structural information which is currently being compiled, interpreted and assessed for the merit of additional drill testing. Notwithstanding, our technical team will now focus its attention on the Company's primary gold and copper exploration Juan de Herrera project."
Jeffrey Wilson, President and CEO of Precipitate Gold Corp., stated: "While the results from this initial drill program did not identify the level of mineralization we had hoped to encounter, the program successfully tested an important exploration target and has provided valuable geological information that enhances our understanding of the Pueblo Grande project. With this phase of drilling now complete, we intend to refocus our efforts on our flagship Juan de Herrera Project, where multiple compelling exploration targets have been delineated and advanced through ongoing target refinement and community engagement activities. We remain confident in the long-term exploration potential of Juan de Herrera and look forward to reporting progress as work advances."
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The Pueblo Grande Project is strategically located within one of the world's premier gold mining districts.
The 2026 Pueblo Grande Norte (also known as Loma la Cuaba or the Lithocap zone) drill campaign achieved its primary objective of testing the newly delineated IP chargeability and resistivity anomalies. In most cases, the IP geophysical anomalies correlate well with core observations of notably elevated concentrations of pyrite mineralization, strong silicification and advanced argillic alteration, as well as the laboratory analytical data, evidently, validating the IP geophysical survey data. Drill core logging indicates that pyrite mineralization is dominated by very fine grained pyrite as strong disseminations, millimeter-scale clots, laminations, veinlets, mm-scale vuggy infills and local near semi-massive centimeter-scale laminations. Silicification occurs as (i) a overlying fine grained massive cap or blanket (from surface to depths exceeding 110 metres vertically) and (ii) as variably diffuse flooding and/or millimeter to centimeter scale discrete veinlets or veins, commonly with the pyrite sulphide mineralization, hosted within mafic volcanic rocks that underlie the silica cap rocks. Both alteration and sulphide mineralization show no obvious rock type preference within the local mixed andesitic volcanic stratigraphy host rocks.
The drill program totalled 2,050 metres of diamond drilling in 5 holes from five drill platforms. Hole depths ranged from 330 to 459 metres, with hole inclinations ranging from vertical to -55 degrees. HQ and NQ diameter core quality and recovery was excellent. Rock core sampling included near
For the 2026 Pueblo Grande drill program, HQ and NQ diameter core were descriptively logged on site, aligned, marked for sampling and then cut in half longitudinally using a rock saw. Core recovery was excellent, averaging
The scientific and technical information contained in this news release has been reviewed and approved by Michael Moore, P. Geo., Vice President, Exploration of Precipitate Gold Corporation, a Qualified Person ("QP") as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Moore is not independent of the Company within the meaning of NI 43-101. The QP has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Dominican Republic, including its
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
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.'s ("Precipitate" or the "Company") current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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