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Barrick Commences Drill Program at Precipitate's Pueblo Grande Project, Dominican Republic
(TheNewswire) Vancouver, B.C. – February 26, 2025 – TheNewswire -...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Barrick Commences Drill Program at Precipitate's Pueblo Grande Project, Dominican Republic\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, B.C. – February 26,\n2025 –\n \n\n TheNewswire -\n \n\n Precipitate Gold\nCorp.\n \n\n (the “Company” or “Precipitate”)\n(TSXV: PRG, OTCQB: PREIF) is pleased to announce that Barrick Gold\nCorporation (“\n \n\n Barrick\n \n\n ”) has commenced a diamond drilling\nprogram designed to test two distinct, high priority target areas\nwithin Precipitate’s 100% owned Pueblo Grande Project (the\n“\n \n\n Project\n \n\n ”), located immediately adjacent to the Pueblo Viejo gold\nmine operated by Barrick in the Dominican Republic.\n \n\n\n\n The Phase III drill program tests targets at both the\n \n\n Pueblo Grande\nNorte\n \n\n and\n \n\n Pueblo Grande Sur\n \n\n zones within the Project.\nDrilling at the Pueblo Grande Norte zone will follow up on a horizon\nof favorable alteration related to silica and sulphide hydrothermal\nbrecciation intercepted in Barrick’s previous drilling campaigns.\nBarrick has also mobilized a drill rig to Pueblo Grande Sur to test a\nblind target associated with chargeability anomalies identified below\na limestone and sedimentary rock sequence.\n \n\n\n\n Jeffrey Wilson, Precipitate’s President and CEO\nstated, “We’re pleased to see the commencement of a third phase of\ndrilling at our Pueblo Grande project, as Barrick’s geophysical and\ngeochemical work to date within the Project’s\n \n\n Pueblo Grande Norte\n \n\n and\n \n\n Pueblo Grande\nSur\n \n\n zones has delineated priority drill targets.\nThe program is designed to test for postulated high sulphidation\nepithermal style gold mineralization concealed at relatively shallow\ndepths to 250 metres, related to northeast trending structures. We\nlook forward to receipt of assays as results become\navailable.”\n \n\n\n\n Barrick’s work is part of an earn-in agreement\nwhereby Barrick has the right to earn a 70% interest in\nPrecipitate’s Pueblo Grande Project by, among other things, spending\nUS$22.0 million in work expenditures and delivering a Pre-feasibility\nstudy by April 14, 2030. Pursuant to an amendment to the earn-in\nagreement anno...