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Posts, updates and videos about silver – updated automatically.

Precipitate Appoints Former President & Executive Director of Barrick’s Pueblo Viejo Mining Operation as Advisor

Precipitate Gold Corp. (TSXV: PRG) (the “Company” or “Precipitate”) is pleased to announce it has appointed Mr. Mejico Angeles-Lithgow as an advisor and consultant to the Company.

Mr. Angeles-Lithgow is a Dominican national who, until March 2018 held the position of President and Executive Director of the Barrick-Pueblo Viejo mining operation in the Dominican Republic, a joint venture company between Barrick (60%) and Goldcorp (40%) which is the single largest investment in the country’s economic history. Mr. Angeles-Lithgow worked at Barrick-Pueblo Viejo for nearly 11 years, having held the position of Director of Government Affairs before being promoted to President and Executive Director.

As President and Executive Director of Barrick-Pueblo Viejo, Mr. Angeles-Lithgow was responsible for co-managing one of the largest gold mining operations in the world and one of the Dominican Republic’s most important economic drivers, with an initial infrastructure investment of approximately US$4.3 billion and a recent 2017 production rate of approximately 1.0 million ounces gold per year at an all-in-sustaining cost per ounce of US$525*. The Company currently reports existing mining resources of 13.4 million ounces (“Moz”) gold, 74.4 Moz silver, and 298.5 million pounds copper (measured and indicated mineral resource from 169.5 million tons grading 2.46 g/t gold, 13.66 g/t silver and 0.08% copper) and an additional 3.6 Moz gold, 16.0 Moz silver, and 87.2 million pounds copper in the inferred category**. (*March 2018, NI 43-101 report. **Reported annual 2017 production, Barrick website).

Jeffrey Wilson, Precipitate President & CEO, stated, “We are pleased to welcome Mr. Angeles-Lithgow to the Company as an advisor and consultant. In light of our recent announcement to acquire ground adjacent to Barrick’s Pueblo Viejo mining operation, Mr. Angeles-Lithgow will provide critical local and in-country expertise to augment the geological and business acumen of the Company’s management team and Board of Directors. Mr. Angeles-Lithgow’s track record for establishing mutually beneficial relationships between the mining sector and local communities, business leaders and government officials at all levels, will provide invaluable insight to Precipitate as it commences activities at its Pueblo Grande Project. In his prior capacities at Pueblo Viejo, Mr. Angeles-Lithgow established himself as an important leader in the country’s mining sector, while making unique contributions to an admirable precedent for successful and responsible mining in the Dominican Republic.”

Prior to working at Barrick, Mr. Angeles-Lithgow was the Director of Commercial and Regulatory Affairs at Empresa Generadora de Electricidad Haina, S.A. (E.G.E. Haina), one of the two power generation companies formed as a result of the capitalization of the former state-owned power utility in the Dominican Republic and the reform of the power sector. He worked in the power sector for over 8 years.

Prior to his experience in the power sector, Mr. Angeles-Lithgow held various positions in the private sector in the Dominican Republic from which his involvement in marketing, sales, economic development, investment promotion, and community development, add to his broad-based management experience.

Mr. Angeles-Lithgow received a B.Sc. in Business Administration from the Pontificia Universidad Católica Madre y Maestra (PUCMM) in Santo Domingo, followed by a Master of Science in Finance from the University of Lancaster, England and a Master’s Degree in Power Sector Economic Regulation from the Pontifical University of Comillas of Madrid, Spain (program delivered in Santo Domingo). He also completed a Master Degree in Security and Defense Studies from the Dominican Republic’s Ministry of Defense’s Graduate School of Strategic Studies and holds a graduate degree as Geopolitics Specialist from the same academic institution.

The Company also wishes to announce it has granted a total of 3,025,000 incentive stock options to directors, officers, employees and consultants of the Company, subject to TSX Venture Exchange approval and acceptance. Each option is exercisable to purchase one common share of the Company until November 20, 2023 at a price of C$0.08 per common share in accordance with the terms of the Company’s stock option plan.

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 and Pueblo Viejo Camp of the Dominican Republic. The Company also maintains assets in southeast Yukon Territory, specifically the Company’s Reef property located immediately adjacent to Golden Predator’s 3 Aces Project in the Upper Hyland River area. The Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also 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

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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Goldplay Announces Private Placement

Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce that the Company will undertake a private placement of up to 6,818,182 units (the “Units”) at a price of CDN$0.22 per Unit for gross proceeds of up to CDN$1,500,000.  Each Unit shall be comprised of one common share in the capital of the Company (each, a “Share”) and one-half (½) of one common share purchase warrant of the Company (each whole warrant, a “Warrant”), with each Warrant being exercisable into one common share (the “Warrant Shares”) for a period of two years from the date of issuance of the Warrants at an exercise price of $0.25/Warrant Share; except that, from and after the date that is four months and 1 day after the date of issuance of the Warrants, in the event the closing price of the Company’s common shares on the TSX Venture Exchange (the “TSX.V”) is at least $0.65/share for any 10 consecutive trading days during the Warrant exercise period, then the Company may anytime thereafter accelerate the expiry date of the Warrants to the date that is 10 days following the date on which the Company issues notice to all the Warrant holders of the new expiry date (and the Company will also issue a press release on the same date as it issues notice confirming the new expiry date of the Warrants).The proceeds of the private placement will be used for exploration and property taxes on the Company’s properties in Mexico and general and administration costs for its operations in Mexico and Canada.

The Company may pay finders’ fees comprised of cash and/or warrants in connection with the private placement, subject to compliance with the policies of the TSX.V. Completion of the private placement and the payment of any finders’ fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX.V.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a historical resource estimate has been previously disclosed.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project with an ongoing drill program. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Mr. Marcio Fonseca,
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Cision View original content:http://www.prnewswire.com/news-releases/goldplay-announces-private-placement-300752650.html

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com, Website: www.goldplayexploration.com, 999 West Hastings Street, Suite 900, Vancouver, British Columbia V6C 2W2

Related Links

http://www.goldplayexploration.com/

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Goldplay Announces Ms. Diaz Nieves’ Appointment as Next General Director of Mines, Mexico

Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) (“Goldplay” or the “Company”) is very pleased to congratulate its director, Ms. Laura Cristina Diaz Nieves, on her appointment as the next General Director of Mines in Mexico.  As a result of this appointment, Ms. Diaz Nieves is required to relinquish her position as director of the Company at the end of this month. 

Ms. Diaz Nieves has been a director of the Company since March 2013, helping to steer the Company through its start-up to going public stages of development. With the Company’s principal properties being in Mexico, Ms. Diaz Nieves, who is also a lawyer, has been integral in providing the Company with guidance on its various Mexican property transactions during her tenure on the Board.

Marcio Fonseca, President of the Company stated: “We would like to take this opportunity to thank Laura for her valued contributions to the Company over the past five years and we wish her all of the best with this appointment.”

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a historical resource estimate has been previously disclosed.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project with an ongoing drill program. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Mr. Marcio Fonseca,
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Cision View original content:http://www.prnewswire.com/news-releases/goldplay-announces-ms-diaz-nieves-appointment-as-next-general-director-of-mines-mexico-300748752.html

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com, Website: www.goldplayexploration.com, 999 West Hastings Street, Suite 900, Vancouver, British Columbia V6C 2W2

Related Links

http://www.goldplayexploration.com/

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Triumph Gold Reports Results from Drilling of the Nucleus Au-Ag-Cu Deposit, Freegold Mountain Property, Yukon Territory

Triumph Gold Corp., (TSX-V: TIG) (OTCMKTS: TIGCF) (“Triumph Gold” or the “Company”) is pleased to announce the results from 4,159 metres of diamond drilling, in twenty-one holes, conducted in the Nucleus gold, silver, copper (Au-Ag-Cu) deposit area. Highlights of the 2018 Nucleus drill program include:

  • Four high-grade gold intersections:
    — 19.8 grams per tonne (g/t) gold (Au) over 0.84 metres*** (m) in N18-06 (39.62 – 40.46m)
    — 15.93 g/t Au over 1.00 metre*** in N18-17 (150.00 – 151.00m)
    — 13.67 g/t Au over 1.67 metres*** in N18-04 (28.51 – 30.18m)
    — 9.13 g/t Au over 2.00 metres*** in N18-16 (106.00 – 108.00m)
  • Mineralized intervals from sixteen of the twenty-one holes drilled in 2018 returned gold grades that exceed the average grade (0.544 g/t Au) of the current inferred mineral resources estimated in December 2014*. Examples include:
    — 1.196 g/t Au over 45.19 metres*** in N18-08 (19.81 – 65.00m)
    — 1.184 g/t Au over 59.50 metres*** in N18-17 (149.00 – 208.50m)

Highlighted intersections are noted below in Table 1, a full list of significant intersections is contained in Table 2, and the location and orientation of the drill holes are listed in Table 3 and displayed on Figure 1.

Table 1 – Highlighted results from 2018 Diamond Drilling at the Nucleus Au-Ag-Cu Deposit
Drill HoleFromToLength***AuAgCu
 metremetremetreg/tg/t%
N18-0138.1051.8213.720.9660.90.040
N18-0423.0935.0511.963.0301.90.307
Including28.5130.181.6713.67010.00.542
N18-0638.1051.3013.201.9800.40.146
Including39.6240.460.8419.8000.00.164
N18-082.04150.11148.070.6190.10.046
Including19.8165.0045.191.1960.10.052
N18-16106.00108.002.009.1300.00.120
N18-17149.00208.5059.501.1841.60.081
Including150.00151.001.0015.9305.00.551
Also Inc.166.00176.0010.003.2127.00.227
N18-18155.45166.7311.281.0754.10.314
N18-1985.0095.5010.501.6440.00.187

The 2018 drill program at Nucleus was designed to optimize a future pit-constrained estimate of mineral resources by targeting:

  1. Near-surface mineralized areas that had insufficient drill density to support estimates of mineral resources.
  2. Near-surface mineralized areas where additional delineation drilling could facilitate upgrading of Inferred mineral resources to an Indicated category.
  3. Areas prospective for high-grade mineralization.

Triumph Gold Corp. has contracted SIM Geological Inc. to provide updated estimates of mineral resources for the Nucleus, Revenue and Tinta deposits, to be completed in 2019. All three deposits are located on Triumph Gold’s 100% owned, road accessible, two hundred square kilometre Freegold Mountain property, Yukon Territory. The updated resource estimate at Nucleus will incorporate all drill results prior to 2014, the results from sixteen holes completed in 2017 (press release PR18-01, dated January 18, 2018), as well as 4,159 metres of diamond drilling, in twenty one holes, conducted in 2018 (as described in this news release).

Table 2 Significant Results from 2018 Diamond Drilling at the Nucleus Au-Ag-Cu deposit
Drill HoleFromToLength***AuAgCu
 metremetremetreg/tg/t%
N18-0122.8669.0046.140.4550.60.076
Including38.1051.8213.720.9660.90.040
And206.00216.0010.000.2130.40.111
N18-0287.2089.001.801.2303.00.019
And107.00111.004.000.6030.00.056
N18-0325.0075.0050.000.5150.00.025
And193.00195.002.001.0200.00.007
N18-0423.0935.0511.963.0301.90.307
Including28.5130.181.6713.67010.00.542
And62.0072.0010.000.4810.00.061
N18-053.3016.5013.200.6500.00.022
And180.00181.201.206.8800.00.017
N18-0638.1051.3013.201.9800.40.146
Including39.6240.460.8419.8000.00.164
And94.0096.012.012.0300.00.113
N18-072.7021.3318.630.4220.00.024
And158.00177.0919.090.2560.50.134
N18-082.04150.11148.070.6190.10.046
Including19.8165.0045.191.1960.10.052
N18-0919.0077.7258.720.3890.10.059
N18-1036.4938.001.511.2800.00.020
And111.00113.002.001.4000.00.031
And137.00146.309.300.3801.30.099
N18-11No Significant Results
N18-1241.0051.0010.000.5160.00.044
And80.1581.151.002.2103.00.015
N18-1316.4018.361.961.5500.00.043
And38.6745.727.050.5741.10.007
And125.00129.824.821.1240.00.077
N18-1457.0072.6015.600.3720.30.087
And85.0097.0012.000.3480.00.017
N18-1581.7683.001.241.1100.00.004
And155.00158.003.000.4270.00.047
And194.50201.476.970.4151.10.055
N18-1613.7217.944.221.0370.00.019
And98.72189.0090.280.5350.30.085
Including106.00108.002.009.1300.00.120
N18-1767.5072.004.500.4520.00.018
And82.0086.004.002.2950.00.055
And115.00119.004.000.7900.00.023
And149.00208.5059.501.1841.60.081
Including150.00151.001.0015.9305.00.551
Also Inc.166.00176.0010.003.2127.00.227
N18-1836.5838.101.523.0200.00.018
And47.5553.055.500.9900.00.016
And60.6763.452.780.7020.00.023
And78.0081.863.860.8570.00.042
And155.45166.7311.281.0754.10.314
N18-1985.0095.5010.501.6440.00.187
N18-2052.2172.0019.790.4080.00.029
And93.00106.9513.950.0910.20.162
And134.48152.0417.560.4380.00.038
And193.33206.1212.790.7521.30.124
N18-2137.0038.101.101.5900.00.046
And94.0098.004.000.5880.00.017
And164.45184.0019.550.4880.00.011
And192.03196.003.970.5530.00.010
Table 3 Location and Orientation of Nucleus Drill Holes, 2018
Hole IDEasting**Northing**AzimuthInclinationDepth
N18-013794586913881000-60225.55
N18-023794586913967000-60127.71
N18-033795316913586000-60260.60
N18-043795486913260000-60201.78
N18-053793586913559000-60199.64
N18-063795036913272000-60268.22
N18-073793546913688000-60206.96
N18-083793706913930000-50200.86
N18-093794136913298000-50200.86
N18-103791716913911000-60157.96
N18-113790946913776000-60104.55
N18-123793656913314000-50201.47
N18-133790286913779000-60203.96
N18-143793566913400000-50152.42
N18-153789996913646000-60201.47
N18-163792796913531000-55220.98
N18-173791546913695000-70210.62
N18-183792066913565000-50201.17
N18-193792746913629000-65201.47
N18-203791476913585000-60208.48
N18-213790896913601000-60201.78

Notes:

* Campbell, J., Sexton, A., Armitage, A., Studd, D., (effective date December 15, 2014, publication date February 28, 2015): Technical Report on The Freegold Mountain Project, Yukon Canada, Resource Estimates. 43-101Techincal Report. www.sedar.com 

** Coordinates are given in North American Datum 83 (NAD83), Zone 8.

*** Length/interval refer to drill hole intercept. True widths have not been determined.

Methods and Qualified Person

Drill core samples ranged between 1 and 2 metres length and were cut at Triumph’s core logging facility on the Freegold Mountain Property. The samples were analyzed by SGS Canada of Vancouver, British Columbia. They were prepared for analysis according to SGS method PRP89: each sample was crushed to 75% passing 2mm and a 250g split was pulverized to better than 85% passing 75 micron mesh. Gold was tested by fire assay with atomic absorption finish on a 30g nominal sample (method GE FAA313), and samples that tested over 10 g/t Au were retested using a 30g nominal sample and gravimetric analysis (method GO FAG303). An additional 35 elements were tested by ICP-AES using a four-acid digestion (method GE ICP40B), over limit samples for copper were retested using the same technique but with assay grade four acid digestion and a higher range of detection (method GA AAS42S). Quality assurance and control (QAQC) is maintained at the lab through rigorous use of internal standards, blanks and duplicates. An additional QAQC program was administered by Triumph Gold: at minimum three quality control samples, consisting of blanks, certified reference standards and duplicates, were blindly inserted into each 75 sample batch. QAQC samples that return unacceptable values trigger investigations into the results and reanalyses of the samples that were tested in the batch with the failed QAQC sample.

The technical content of this news release has been reviewed and approved by Tony Barresi, Ph.D., P.Geo., VP Exploration for the company, and qualified person as defined by National Instrument 43-101.

About Triumph Gold Corp.

Triumph Gold Corp. is a growth oriented Canadian-based precious metals exploration and development company. Triumph Gold Corp. is focused on creating value through the advancement of the district scale Freegold Mountain project in Yukon. For maps and more information, please visit our website www.triumphgoldcorp.com

On behalf of the Board of Directors

Signed “Paul Reynolds”
Paul Reynolds, President & CEO

For further information please contact:
John Anderson, Executive Chairman
Triumph Gold Corp.
(604) 218-7400
janderson@triumphgoldcorp.com

Nancy Massicotte
IR Pro Communications Inc.
(604)-507-3377
nancy@irprocommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds, the results of financing efforts, the completion of due diligence and the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/268a441a-d1cd-44c5-90a8-1bccbed24163

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Raw Video from the Bayhorse Silver Mine

Our friend Graeme O’Neill, CEO of Bayhorse Silver, (V.BHS) sent a Go-Pro camera to the face with his miners. Not slick, not edited: just experienced miners looking at a pile of rock after blasting into what they hoped was a “High Grade” zone.

O’Neill hopes to have more video next week.

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Goldplay reports high-grade silver-lead-zinc-gold mineralization from sampling of a re-opened historical tunnel at San Marcial; including 13 meters @ 1,048 gpt AgEq

Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) (“Goldplay” or the “Company”)is pleased to announce high-grade results from a historical underground tunnel that it has re-opened at the Company’s San Marcial Project in Mexico. The tunnel cuts the San Marcial Main Fault and associated silver-bearing wide breccia approximately 80 meters below the surface near the center of the 500-meter-long historical NI 43-101 resource area (“historic resource”). The exceptional silver-lead-zinc-gold grades over substantial widths reinforce the potential and continuity of mineralization from surface and provide targets for our upcoming drill program.

  • 13.0 meters (true width 7.0 meters) @ 1,048 gpt AgEq (550 gpt Ag)
    • Including 3.0 meters (true width 1.6 meters) @ 1,934 gpt AgEq (1,127 gpt Ag)
Goldplay, V.GPLY, silver, mexico
Figure 1: Drill Hole and Underground Tunnel Location Map San Marcial Project (CNW Group/Goldplay Exploration Ltd)

Goldplay President and CEO Marcio Fonseca commented, “We recently re-opened a historical underground tunnel that cuts through the foot wall sequence of the San Marcial deposit and through the silver-lead-zinc-gold bearing hydrothermal breccia. The high-grade results that we received over substantial widths, including 3 meters at over 1.9 kg/t AgEq, support the high-grade nature of the mineralization. Our understanding of the geological controls on the high-grade mineralization will assist in the planning of our upcoming drill program. The tunnel results support continuity of the polymetallic mineralization from surface and provide positive correlation with our current 3D modeling, which will lead into a new NI 43-101 resource estimate, expected in January 2019.”

The location of the historical underground tunnel – near the center of the historical resource area – along with the location of drill holes completed prior to the historical resource and of sampled 2010 drill holes reported to date, are illustrated below (Figure 1).

The most significant result received from the channel sampling within the historical tunnel, as stated above, included a very high-grade section of 3 meters grading 1,934 gpt AgEq (Table 1). The 13m high-grade mineralization, which includes significant contributions from lead (5.0%) and zinc (5.9%), also contains gold credits (Table 1).

The high-grade mineralization has a strong structural component, associated with the prominent northwesterly dipping San Marcial Main Fault and related hydrothermal breccia bodies, which gives the mineralized zone its substantial width near surface. Section O-P (Figure 2) demonstrates the relationship between the high grades received from the tunnel sampling, and the continuity with the surface trench results and shallow drill results in SM-10-19, SM-10-03 and SM-10-09. All of these samples lie within 100 meters of the surface and hence provide an opportunity for future open pit development.

As previously reported (18 September 2018), a new sub-parallel mineralized zone was discovered in SM-10-09, in the foot wall to the main breccia mineralization. The channel sampling along the length of the historical underground tunnel has confirmed foot wall mineralization near the tunnel entrance with 5 meters at 58 g/t AgEq, including 1 meter at 239 g/t Ag (Figure 2). Although it is a narrow zone, this foot wall mineralization provides encouragement for potential resource additions.

The following table summarizes the most significant intercepts (uncut, undiluted) for this release:

Table 1: Channel Sampling Results from Historical Tunnel – San Marcial Project

Mineralized

Zone

From

(m)

To (m)

Interval

(m)

True

Width

(m)

Ag g/t

Pb %

Zn %

Au g/t

AgEq*

g/t

Main Zone

114.0

127.0

13.0

7.0

550

5.0

5.9

0.23

1,048

     including

120.0

123.0

3.0

1.6

1,127

9.8

8.4

0.27

1,934

New Discovery

2.0

7.0

5.0

5.0

54

0.01

0.07

0.00

58

     including

3.0

4.0

1.0

1.0

239

0.02

0.13

0.00

246

Note: Distances measured from tunnel entrance. All samples were 1 meter channels along the tunnel walls.

 

Note: all numbers are rounded. AgEq (silver equivalent) is calculated from gpt data. AgEq g/t = Ag g/t + Au g/t x (Ag Price per oz/ Au price per oz) + (Pb grade x ((Pb price per lb./Ag price per oz) x 0.0685714 lbs. per Troy Ounce x 10000 g per %)) +(Zn grade x ((Zn price per lb./Ag price per oz) x 0.0685714 lbs. per Troy Ounce x 10000 g per %)). Ag price per oz (US$16.50), Au price per oz (US$1,250), Pb price per lb. (US$0.95) and Zn price per lb. (US$1.15) and 100% Metallurgical Recovery. 

To view the drill hole location map, cross sections and longitudinal section from this news release, please click the following links:

Historical Drill Holes Location Map San Marcial

Cross Section O-P San Marcial

QA/QC Protocols

Thorough QA/QC protocols are followed in all sampling programs and in assays completed by the Company. Goldplay’s management includes routine duplicates, blanks and standard samples in assay lots for all surface and drill hole samples. The samples are submitted directly to the SGS laboratory facilities in Durango, Mexico, for sample preparation and assaying. The assaying at SGS is by Fire Assay with AA finish, for Au (> 10 ppm gravimetric finish), Ag ICP-AES with 4 acid digestion (up to 100 ppm). For Ag results over 100 ppm an ICP-AES 4 acid digestion with detection limit from 100-1,000 g/t is completed at SGS laboratories in Vancouver, Canada. For samples with over limits of Zn and Pb (>10,000 ppm), an ICP-AES with Sodium Peroxide Fusion is performed, to improve recovery.

The Qualified Person under the NI 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, President and CEO of Goldplay, who has reviewed and approved its contents.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a historical resource estimate has been previously disclosed.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project with an ongoing drill program. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Mr. Marcio Fonseca,
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

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SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 31 55, Email: info@goldplayexploration.com, Website: www.goldplayexploration.com, 999 West Hastings Street, Suite 900, Vancouver, British Columbia V6C 2W2

Related Links

http://www.goldplayexploration.com/

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Goldplay continues to intercept new silver-lead-zinc-gold mineralization from sampling of historical core at San Marcial; including 23 meters @ 160 gpt AgEq

Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) (“Goldplay” or the “Company”) is pleased to announce positive results from sampling of the historical core drill holes completed in 2010 (“historical core”), from the Company’s San Marcial Project in Mexico. The results support open pit potential for the initial 500-meter-long historical NI 43-101 resource area (“historic resource”). Results reveal a much wider mineralized zone along strike and down-dip than originally modelled in the historic resource with opportunities for expansion.

  • 61.0 meters (true width 47.8 meters) @ 93 gpt AgEq
    • Including 23 meters (true width 17.3 meters) @ 160 gpt AgEq
  • 56.0 meters (true width 42.0 meters) @ 61 gpt AgEq
    • Including 33.0 meters (true width 24.8 meters) @ 79 gpt AgEq
  • 12.5 meters (true width 9.4 meters) @ 126 gpt AgEq

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–> <!– image and imageTag: Figure 7: San Marcial Longitudinal Section A-B (CNW Group/Goldplay Exploration Ltd) –>

Goldplay President and CEO Marcio Fonseca commented, “Our systematic sampling of available core (not previously sampled) has confirmed much wider and continuous mineralization than previous geological modelling part of the historic resource. The width and shallow depth of intersections associated with attractive grades, hosted in wide hydrothermal breccias and favorable topography, continue to reinforce the open pit development potential at San Marcial. The results also reinforce opportunities for future open pit development and upside exploration potential, as sampling is revealing new, wider polymetallic mineralized zones, continuous along strike and down dip, doubling the footprint of the previously modelled mineralized zone. The sampling results together with an updated geological interpretation are being incorporated in a new 3D Geological Model in preparation for a scheduled new resource estimation.”

The location of drill holes completed prior to the historical resource and the location of sampled drill holes SM-10-01, SM-10-05, SM-10-10, SM-10-13, SM-10-16, SM-10-17 and SM-10-19 are illustrated below (Figure 1).

The most significant result for this release was returned from drill hole SM-10-01 (Figure 2), which intersected 61 meters grading 93 gpt silver equivalent (AgEq), including a high-grade section of 23 meters grading 160 gpt AgEq.

Drill hole SM-10-05 (Figure 2), intersected 56 meters grading 61 gpt AgEq including 33.0 meters grading 79 gpt AgEq. The following table summarizes the most significant drill intercepts (uncut, undiluted) for this release:

Hole No.

From (m)

To (m)

Interval

(m)

True

Width

(m)

Ag g/t

Pb %

Zn %

Au g/t

AgEq*

g/t

SM-10-01

50

111

61.0

47.8

46.8

0.3

0.6

0.02

93

including

60

83

23

17.3

56

2.5

2.6

0.01

160

SM-10-05

163.1

219.1

56.0

42.0

26

0.2

0.3

0.14

61

including

163.1

196.1

33.0

24.7

32.9

0.3

0.5

0.08

79

SM-10-10

159.9

178

18.1

13.7

16.9

0.2

0.5

0.03

49

SM-10-13

161.1

164.1

3.0

2.3

50.8

0.02

0.05

0.12

64

SM-10-16

50

69

19.0

14.2

42

0.1

0.3

0.10

68

SM-10-16

103.4

116.3

12.9

9.7

15

0.9

1.3

0.10

126

SM-10-17

79.2

150

70.8

53.0

11

0.1

0.4

0.03

35

SM-10-19

27

51

24.0

18.0

60

0.2

0.3

0.03

82

Note: all numbers are rounded. AgEq (silver equivalent) is calculated from gpt data. AgEq g/t = Ag g/t + Au g/t x (Ag Price per oz/ Au price per oz) + (Pb grade x ((Pb price per lb./Ag price per oz) x 0.0685714 lbs. per Troy Ounce x 10000 g per %)) +(Zn grade x ((Zn price per lb./Ag price per oz) x 0.0685714 lbs. per Troy Ounce x 10000 g per %)). Ag price per oz (US$16.50), Au price per oz (US$1,250), Pb price per lb. (US$0.95) and Zn price per lb. (US$1.15) and 100% Metallurgical Recovery.

All the results highlighted in this release support a silver-zinc-lead-gold mineralization hosted in a wide and continuous hydrothermal breccia with evidence of a multi-phase mineralizing event along major northwest oriented faults.

The Company is continuing its drill core sampling program, aiming to complete a NI 43-101 compliant resource estimate during the December 2018 quarter. The receipt of the drilling permits (News Release dated 18 October 2018), provides the Company immediate capability to advance drilling along the 3.5 km mineralized trend, outside the historic resource, with the objective of identifying new discoveries.

In addition to the core sampling program, the Company has re-opened historical underground workings where there is evidence of bonanza style mineralization in the center of the historic resource (Figure 7). A sampling program has been implemented with results expected over coming weeks.

To view the drill hole location map, cross sections and longitudinal section from this news release, please click the following links:

Historical Drill Holes Location Map San Marcial

Cross Section K-L San Marcial

Cross Section M-N San Marcial

Cross Section O-P San Marcial

Cross Section Q-R San Marcial

Cross Section S-T San Marcial

Cross Section U-V San Marcial

Longitudinal Section San Marcial

QA/QC Protocols

Thorough QA/QC protocols are followed in all sampling programs and in assays completed by the Company. Goldplay’s management includes routine duplicates, blanks and standard samples in assay lots for all surface and drill hole samples. The samples are submitted directly to the SGS laboratory facilities in Durango, Mexico, for sample preparation and assaying. The assaying at SGS is by Fire Assay with AA finish, for Au (> 10 ppm gravimetric finish), Ag ICP-AES with 4 acid digestion (up to 100 ppm). For Ag results over 100 ppm an ICP-AES 4 acid digestion with detection limit from 100-1,000 g/t is completed at SGS laboratories in Vancouver, Canada. For samples with over limits of Zn and Pb (>10,000 ppm), an ICP-AES with Sodium Peroxide Fusion is performed, to improve recovery.

The Qualified Person under the NI 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, President and CEO of Goldplay, who has reviewed and approved its contents.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a historical resource estimate has been previously disclosed.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project with an ongoing drill program. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Mr. Marcio Fonseca,
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/goldplay-continues-to-intercept-new-silver-lead-zinc-gold-mineralization-from-sampling-of-historical-core-at-san-marcial-including-23-meters–160-gpt-ageq-300740109.html

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 31 55, Email: info@goldplayexploration.com, Website: www.goldplayexploration.com, 999 West Hastings Street, Suite 900 Vancouver, British Columbia, V6C 2W2

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Goldplay CEO Marcio Fonseca – New York Presentation

Goldplay (V.GPLY) CEO Marcio Fonseca does a presentation on the Company’s Mexican silver assets at the 121 Mining Investment Event, New York, October 2018.

We’re expecting a steady news flow from Goldplay and this presentation will provide the background for that news.

 

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Precipitate Acquires 100% Interest in Gold and Silver Property Adjoining Barrick and Goldcorp’s Pueblo Viejo Mine in Dominican Republic

Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG) is pleased to announce 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.

Highlights of New Property Acquisition:

  • 100% interest in a strategic land position adjoining Barrick’s Pueblo Viejo mine (largest active gold mining operation in Latin America; fourth largest gold mining operation in the world*)
  • Two historical drill zones (Tres Bocas and La Lechoza) with impressive near surface gold and silver intercepts warranting follow-up;
  • Substantial areas of under-explored Advanced Argillic alteration adjacent to, and on strike from the Pueblo Viejo open pits;
  • Extensive drill dataset from over 200 historic drill holes totalling approximately 29,500 metres;
  • Situated in an active and mining-friendly district within 10 kilometers (“km”) of 3 operating mine sites;
  • Select highlight historic trench samples (from La Lechoza zone):
    • 11.3 grams per tonne (‘g/t’) gold and 310 g/t silver over 18 metres (Linear Gold, 2015)
    • 6.65 g/t gold and 18.8 g/t silver over 22 metres; including 22.1 g/t gold and 48.6 g/t silver over 4 metres
    • 1.13 g/t gold over 18 metres
    • 4.35 g/t gold over 10 metres
  • Select reported historical highlight drill intercepts include:
Metres
(m)
Gold
(g/t)
Silver
(g/t)
Zinc
(%)
ZoneEverton News Source
23.4 m4.7623.0La LechozaJan 27/11 (DDH APV-30)
10.6 m2.96104.99.4Tres BocasMay 17/06 (DDH TBM-07)
27.0 m2.4626.7La LechozaFeb 02/11 (DDH APV11-02)
7.5 m2.5647.24.4La LechozaDec 20/10 (DDH APV10-13)
10.5 m2.2965.03.4La LechozaApr 13/11 (DDH APV11-30)

All above noted intercepts commence at less than 20m drill depth and are drill intercept widths.  The true thickness of the zones has yet to be determined.

Map View of All New Acquired Concessions
Map View of Pueblo Grande Property

Jeffrey Wilson, Precipitate President & CEO, stated, “We are pleased with this new acquisition as it positions Precipitate with an impressive new landholding flush with targets adjacent to one of the largest gold-silver mining operations in the world, in the heart of the Dominican Republic’s most active and mining-friendly district. This acquisition represents much more than an “area play” for the Company, as the project’s geological environment, compelling geophysical signatures and impressive prior results make this an exciting new addition to our project portfolio. Applying our in-country experience and technical expertise, which includes highly-regarded Board members Quinton Hennigh, Alistair Waddell and Adrian Fleming, should allow Precipitate to reinterpret the data and commence systematic programs to test previously unrecognized opportunities within this property package. Our team’s ongoing interaction and dialogue with the country’s decision-makers and industry peers has reinforced our confidence in the outlook for the jurisdiction, such that we believe this acquisition presents a unique and timely opportunity for the Company and its shareholders to be positioned for long-term growth. Pueblo Grande and our existing Juan de Herrera Project, adjacent to GoldQuest Mining’s Romero, combine to establish Precipitate as one of the Dominican Republic’s leading explorers, poised to build near and long-term value through strategic district-scale landholdings and ongoing work programs.” See full CEO Summary video of this news release at the Company’s website.

Michael Moore, Precipitate VP Exploration, states, “The Pueblo Grande property offers near-term discovery potential immediately adjacent to Barrick’s Pueblo Viejo Mine, one of the world’s biggest gold and silver operations. The sizeable historical property dataset gives us an excellent starting point to benefit from past work and to immediately focus on priority gold and base metal prospects identified through geophysics, geology, geochemistry and past drill intercepts with limited follow-up. Our exploration plan will focus on high priority zones for immediate field work and drill target testing. The target-rich project has year-round access and well-developed infrastructure, allowing for consistent, systematic programs and steady future news flow.”

Two concessions, comprising a portion of the Pueblo Grande Property, are contiguous to the Pueblo Viejo mine operated by Barrick Gold via a joint venture between Barrick (60%) and Goldcorp (40%). The third concession (the “Ponton Project”) acquired in this transaction is located approximately 30 km east of Pueblo Grande in a similarly favourable and prospective geological environment. The Company has also submitted exploration concession applications for an additional strategic land position connecting the two main Everton concessions along the eastern boundary of the Pueblo Viejo mine to form the newly consolidated Pueblo Grande Property. As a result, Precipitate’s new land position adjoins Barrick’s Pueblo Viejo mine site on the west, north and east sides, covering about 9,863 contiguous hectares. See the accompanying maps or the Company’s website at www.precipitategold.com for the property location illustration maps.

Highlights of Pueblo Grande Exploration Potential:

The area to the west of the Pueblo Viejo mine is interpreted to be a high-level advanced argillic lithocap alteration type environment which lacks significant known gold-silver mineralization but has the same highly anomalous trace element suite that typifies the adjacent Pueblo Viejo deposit.  The lithocap alteration is dominated by pervasive silica-pyrophyllite-pyrite with numerous and widespread irregular pods, veins, and veinlets of massive hematitized magnetite. Magnetite, silicification and various pathfinder elements associated with Pueblo Viejo style high sulphidation epithermal gold-silver-copper mineralization offer key exploration vectors into and through the extensive altered lithocap zone (see aster image and airborne magnetics geophysical map). Past drill testing appears to have focused mainly on coincident geochemical and induced polarization chargeability anomalies on the eastern extents of the lithocap, largely overlooking the sizable magnetic-high anomalies within the central lithocap region, leaving much of this target area untested. The prospective lithocap alteration within Precipitate’s concession boundaries, west and northwest from the Pueblo Viejo mine pits, measures roughly 5 km by 3 km, with the coincidental prospective magnetic-high anomaly measuring approximately 2.5 km by 3 km, representing a sizable and highly prospective yet essentially untested target for initial work programs and possible near-term drill testing.

https://precipitategold.com/assets/docs/nr/2018-10-23-nrm3-pg-jft3q6.pdf

Additional magnetic anomalies (both high and low signatures) within the property package, specifically to the southeast of Pueblo Viejo, will undergo future geological mapping and sampling. Previous drilling has also encountered at least two additional key areas of mineralization within the property (namely La Lechoza and Tres Bocas) evidencing the project’s potential to host multiple areas of interest and several styles of mineralization. The size and scale of the property package, combined with its proximity to one of the largest gold mining operations in the world, make this a compelling project for extensive and ongoing exploration.

Highlights of Acquired Pueblo Grande Dataset:

In acquiring the Pueblo Grande Property (previously named the Ampliacion Pueblo Viejo (APV), Mermejal, Jobo Claro, Loma Mate and others) and the nearby Ponton Property from Everton, the Company acquires valuable associated datasets that include:

  • Two high-level historically drilled gold-base metal discovery zones: Tres Bocas and La Lechoza;
  • Drill hole database, including 158 diamond drill holes and 62 shallow RAB drill holes; totalling about 29,500 metres and 10,600 core – rock pulp samples;
  • Heliborne magnetic-GeoTEM geophysical survey (729km of flight lines at 100 metre spacing);
  • Numerous ground geophysical surveys, including magnetics, induced polarization and max-min EM;
  • Approximately 18,050 surface geochemical samples (combined stream sediment, rock, soil, trench);
  • Extensive surface geological mapping at various detail levels; and,
  • A large highly prospective lithocap area of Advanced Argillic alteration located directly to the west of the Pueblo Viejo mine.

Highlights of Barrick’s Pueblo Viejo Gold-Silver Mine:

  • Largest active gold mining operation in Latin America, and fourth largest mining operation in the world in 2017*
  • High sulphidation epithermal gold-silver deposit
  • 13.4 million ounces (“Moz”) gold, 74.4 Moz silver, and 298.5 million pounds copper (measured and indicated mineral resource from 169.5 million tons grading 2.46 g/t gold, 13.66 g/t silver and 0.08% copper)**;
  • Additional 3.6 Moz gold, 16.0 Moz silver, and 87.2 million pounds copper in the inferred category;
  • Annual production of approximately 1.0 million ounces gold at US $525.00 all-in-sustaining cost per ounce***; and,
  • US $4.3 billion project infrastructure investment

*Based on 2017 production figures -Thomson Reuters and stats released by gold miners. **March 2018, NI 43-101 report. ***Based on annual 2017 production, Barrick website.

Pueblo Grande Purchase-Sale Agreement Terms:

As consideration for 100% title to Everton’s three Dominican exploration concessions totalling 9,583 hectares, and extensive geochemical, geophysical, geological and drill data, Precipitate will deliver to Everton the following upon closing:

  • CDN $25,000 cash;
  • Seven million common shares of Precipitate subject to resale legend restrictions for up to 3 years, expiring as follows:
    • 10%    (700,000 shares) with resale legend expiring 6 months from the date of issue;
    • 10%    (700,000 shares) with resale legend expiring 12 months from the date of issue;
    • 10%    (700,000 shares) with resale legend expiring 18 months from the date of issue;
    • 15% (1,050,000 shares) with resale legend expiring 24 months from the date of issue;
    • 15% (1,050,000 shares) with resale legend expiring 30 months from the date of issue; and
    • 40% (2,800,000 shares) with resale legend expiring 36 months from the date of issue

The closing date for the transaction will occur at five business days after the later of (i) the date the TSX Venture exchange accepts the transaction, and (ii) the date the Dominican Republic Ministry of Energy and Mines accepts and completes full legal title transfer of the three exploration concessions to Precipitate. The agreement is subject to a 45-day due diligence period, from the date of execution of the agreement, whereby Precipitate can complete a satisfactory review of project technical and corporate documents and related materials. The Company has 90 days to facilitate completion of the official transfer of legal title of the concessions, after which the Company can elect to extend the closing date by consecutive 30-day periods by delivering 100,000 common shares of the Company (deducted from the payment shares noted above) for each 30-day extension. If the Closing does not occur by March 30, 2019 either party may elect to terminate the agreement.

Additional payment stock conditions include (i) should Everton elect to sell or dispose of any of the payment shares, and in each instance, it will give Precipitate at least 10 business days advance notice, so as to allow the Company to assist in finding a purchaser for such shares and (ii) the selective legend removal of various escrow payment share release restrictions should the Company’s common shares trade at or above $0.20, $0.40 and $0.60 per common share for 10 consecutive trading days on the TSXV (based on a volume weighted average price, “VWAP”). Pre-existing advanced stage or mining-related commitments to a third party include (i) a sliding scale net smelter royalty (NSR) ranging from 1%, where gold is under $US 1,000/oz, to 2%, where gold is over $US1,400/oz and (ii) a sum of cash or shares in the event a resource of 1.0 million gold equivalent ounces or greater are delineated at certain grades and in various indicated and inferred categories.

Expanding the Precipitate Gold Project Portfolio:

The acquisition of Pueblo Grande compliments the Company’s existing Juan de Herrera Project situated in the western part of the Dominican Republic, adjacent to the country’s most prominent development-stage project, GoldQuest Mining’s Romero, establishing the Company with substantial landholdings in the country’s two most significant gold and copper camps. Importantly, Precipitate’s complete project portfolio now provides shareholders valuable exposure to three major mining/exploration gold camps with landholdings immediately adjacent to, and contiguous with three prominent operations; the world-class Pueblo Viejo operated by Barrick (central Dominican Republic), the Tireo-Romero operated by GoldQuest (west Dominican Republic), and the Upper Hyland River-3 Aces operated by Golden Predator (southeast Yukon, Canada). All of these Precipitate gold assets are owned 100% by the Company, free of any underlying vendor payments or work commitments, and limited holding costs.

This news release has been reviewed by Michael Moore P. Geo., Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards.

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 and Pueblo Viejo Camp of the Dominican Republic. The Company also maintains assets in southeast Yukon Territory, specifically the Company’s Reef property located immediately adjacent to Golden Predator’s 3 Aces Project in the Upper Hyland River area. The Company has entered into an Option to Purchase Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by making certain staged payments in cash and shares and warrants. Precipitate is also 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

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.

Photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/86f501c4-76c4-46f8-9589-88ae81275261
http://www.globenewswire.com/NewsRoom/AttachmentNg/f3ef5aaf-4b7c-4691-a9f9-07ae877a6738
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http://www.globenewswire.com/NewsRoom/AttachmentNg/14a0f547-48c6-42b7-9e79-7360ab51fe0b
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Goldplay receives permit for drilling of the San Marcial Project

Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF – the “Company” or “Goldplay”) is pleased to announce that it has received approval from the Mexican national environmental agency for its upcoming drill programs at the San Marcial Project, Sinaloa, Mexico. Planning is underway for drilling campaigns to complement the Company’s San Marcial resource estimate, due in December 2018, and the subsequent PEA studies scheduled for completion in 2019.

Goldplay President and CEO Marcio Fonseca commented, “The grant of the drilling permit opens the door for Goldplay to move forward with its objectives to delineate new mineralized zones beyond the historic NI 43-101 resource estimate area (“historic resource”). This will also allow  the identification  of new discoveries in the 3.5 km long mineralized trend and providing additional drilling information to support a Preliminary Economic Assessment (“PEA”) of the San Marcial Project in 2019.”

The drilling approval was granted by SEMARNAT (Secretaria de Medio Ambiente y Recursos Naturales) following the submission by Goldplay of an Environmental Impact Statement specific to the San Marcial Project and upcoming drill plans, and allows for surface geological exploration including trenching and drilling activities. SEMARNAT recognizes that the activities proposed by Goldplay will be beneficial to the local community with opportunities of employment for local residents and will contribute to the socio-economic development of the local community.

Approval has been granted to the Company for the completion of up to 69 drill holes, by either diamond core or reverse circulation methods, in a period of two years ending August 2020, and within a highly prospective area selected by Goldplay. Encouragingly, the positive response to Goldplay’s proposal by the Mexican authorities does not impose any extraordinary conditions on the proposed drill programs. Standard requirements include the rehabilitation of disturbances caused by the exploration activities, as well as minimizing construction of new access tracks and avoiding damage to the local environment.

NI 43-101 Resource Estimate – as announced in a News Release dated 5 October 2018, Goldplay is finalizing the first 3D Geological model (“3D model”) of the San Marcial silver-zinc-lead-gold deposit using high grade results received from recently sampled and assayed historic drill core. The 3D model will be used to complete a NI 43-101 resource estimate, scheduled for completion before the end of 2018.

Preliminary Economic Assessment (PEA) – Goldplay expects to undertake a PEA study in 2019 carrying out preliminary engineering and economic analysis assuming a combined open pit/underground future development of the San Marcial Project.

Drilling under the recently granted permit will allow Goldplay to test down dip and along strike extensions to the mineralization identified in the historic resource, as well as to provide  additional samples for metallurgical, that will feed into the PEA.

The Qualified Person under the NI 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, President and CEO of Goldplay, who has reviewed and approved its contents.

About Goldplay Exploration Ltd.

Goldplay owns a >250 sq. km exploration portfolio in the historical Rosario Mining District, Sinaloa, Mexico. Goldplay’s current exploration focus includes surface exploration and drilling, with a resource update to follow at the advanced-stage San Marcial Project and follow up exploration program at the El Habal Project.

The San Marcial land package consists of 1,250 ha, located south of the La Rastra and Plomosas historical mines and 20 km from the Company’s 100% owned El Habal Project in the Rosario Mining District, Sinaloa, Mexico. San Marcial is an attractive, near-surface high-grade silver, lead and zinc project for which a historical resource estimate has been previously disclosed.

San Marcial exhibits significant exploration upside supported by regional exploration programs completed by previous operators who identified 14 exploration targets similar to San Marcial within its 100% Goldplay-owned concessions. Some of these exploration targets consist of old shallow pits, caved shafts and historical underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures.

The El Habal Project is a drilling stage project with an ongoing drill program. The oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historical shallow underground mining along a 6 km long prospective corridor. The El Habal Project is located near the historical gold-silver Rosario Mine which reportedly operated for over 250 years. Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries. A current NI 43-101 report on the El Habal Project is filed on SEDAR.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GOLDPLAY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Mr. Marcio Fonseca,
P. Geo, President & CEO
Goldplay Exploration Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Cision View original content:http://www.prnewswire.com/news-releases/goldplay-receives-permit-for-drilling-of-the-san-marcial-project-300733293.html

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 31 55, Email: info@goldplayexploration.com; Website: www.goldplayexploration.com; 999 West Hastings Street, Suite 900, Vancouver, British Columbia V6C 2W2

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