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Barrick Completes Drill Program and Elects to Terminate Earn-In Right to Precipitate's Pueblo Grande Project, Dominican Republic
(TheNewswire) Vancouver, B.C. – March 21, 202 5 – TheNews...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Barrick Completes Drill Program and Elects to Terminate Earn-In Right to 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. – March 21,\n202\n \n\n 5\n \n\n –\n \n\n TheNewswire -\n \n\n Precipitate Gold Corp.\n \n\n (the “Company” or “Precipitate”) (TSXV: PRG, OTCQB:\nPREIF) announces receipt from Barrick Gold Corporation\n(“\n \n\n Barrick\n \n\n ”) of final analytical results from the latest phase of\ndrilling as well as receipt of notification from Barrick of its 30\ndays’ advance written notice of termination of its right, by way of\nan earn-in agreement to earn a 70% interest in Precipitate’s Pueblo\nGrande project (the “\n \n\n Project\n \n\n ” and “\n \n\n Pueblo Grande\n \n\n ”),\nlocated immediately adjacent to the Pueblo Viejo gold mine operated by\nBarrick in the Dominican Republic. Upon expiration of the 30-day\nnotice period, the Agreement will terminate and each company’\nobligations under the Agreement will cease, except as specifically\nprovided therein.\n \n\n\n\n Barrick’s multi-year exploration efforts at Pueblo\nGrande targeted both high-sulfidation epithermal (Pueblo Viejo mine\ntype) and porphyry styles of mineralization. During the most recent\nphase of drilling, Barrick drilled three (3) diamond drill holes; one\nat the Pueblo Grande Norte zone, and two at the Pueblo Grande Sur\nzone. Drilling at the Pueblo Grande Norte zone followed up on a\nhorizon of favorable alteration related to silica and sulphide\nhydrothermal brecciation intercepted in Barrick’s previous drilling\ncampaigns. Drilling at the Pueblo Grande Sur zone tested a blind\ntarget associated with induced polarization chargeability geophysical\nanomalies identified below a sedimentary rock sequence. No significant\ngold mineralization was reported in the three holes and therefore did\nnot support the geological concepts sought by Barrick’s exploration\nteam.\n \n\n\n\n Jeffrey Wilson, President & CEO of Precipitate\nGold, commented, \"Although our Pueblo Grande project did not meet\nBarrick’s threshold for continued exploration, we believe the\nproject retains geological potential to host additional gold ...