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Barrick to Commence Drilling with Two Drills at Precipitate's Pueblo Grande Project, Dominican Republic
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2020) - Precipitate Gold Corp. ...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Barrick to Commence Drilling with Two Drills at Precipitate's Pueblo Grande Project, Dominican RepublicVancouver, British Columbia--(Newsfile Corp. - December 15, 2020) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the \"Company\" or \"Precipitate\") is pleased to announce that Barrick Gold Corporation (\"Barrick\") has mobilized two drill rigs to the Company's Pueblo Grande Project to commence an initial phase of exploration drilling. Barrick has also provided Precipitate an update on exploration activities conducted to date as part of its earn-in agreement (the \"Agreement\") whereby Barrick has the right to earn a 70% interest in the Company's Pueblo Grande Project located immediately adjacent to Barrick's world-class Pueblo Viejo gold-silver mine in the Dominican Republic.Barrick has advised Precipitate that it will initiate a first phase exploration drilling program of up to 3,750 metres (\"m\") in 12 to 15 holes testing targets within the area the Company delineated as the \"Lithocap Zone\", located immediately west and northwest of Barrick's Pueblo Viejo mine. Barrick has advised the Company that drilling will be conducted by two drill rigs simultaneously testing two distinct areas.Jeffrey Wilson, Precipitate's President & CEO, stated, \"We are excited to see drilling get underway at our Pueblo Grande project and we are pleased with the work completed to date by Barrick's Dominican exploration team. The opportunity to see several targets previously delineated and prioritized by Precipitate's exploration team now being the subject of a substantial exploration drill program is an exciting and positive step forward for the project as part of our earn-in agreement with one of the world's premier gold mining companies. With two drills turning, we anticipate an efficient drill program with analytical results to follow in due course.\" Barrick's recent exploration update to the Company indicates that preparatory work conducted in advance of drilling included detailed surface geological mapping and geo-stratigraphic modelling in relation to the nearby Pueblo Viejo Mine, re-logging historical drill core from 24 previously drilled holes (9,264m) with complementary short wave infrared (SWIR) spectroscope readings, drill site preparation and securing various agreements and approvals including the modification of the Domini...