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Precipitate Receives Drill Permit for Ponton Gold Project in Dominican Republic
Vancouver, British Columbia--(Newsfile Corp. - January 6, 2021) -   Precipitate Gold C...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate Receives Drill Permit for Ponton Gold Project in Dominican RepublicVancouver, British Columbia--(Newsfile Corp. - January 6, 2021) -   Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (\"Precipitate\" or the \"Company\") is pleased to announce receipt of the government issued permit for diamond drill testing within the Company's Copey Hill Zone at its 100% owned Ponton Project located approximately 25 kilometres (\"km\") due east of Barrick's world-class Pueblo Viejo mining operation and the Company's Pueblo Grande project in the Dominican Republic. The Ministry of Environment and Natural Resources of the Dominican Republic has approved the Company's application and granted a permit for drilling from a total of 10 drill platforms at various key locations within the Ponton Project's Copey Hill Zone. Multiple holes can be collared and drilled from each platform, allowing for the potential for a significant number of possible holes. Importantly, Precipitate has also secured surface access authorizations from local private surface rights landholders, giving the Company access to initiate ground preparations in advance of drilling. Jeffrey Wilson, Company President & CEO stated, \"We are pleased to receive the Copey Hill drill permit as we can now advance ground preparation for this important first phase of drilling. Drilling will focus on locations with high-grade gold surface showings (including 53.0 grams per tonne gold and 17.0 grams per tonne gold*) combined with significant multi-element soil anomalies, identified epithermal style host rock alteration and related geophysical 3D magnetic anomalies; particularly within the high priority South Anomaly. The Company's joint ownership (50/50 with GoldQuest Mining) and immediate access to drilling equipment and personnel allows us to initiate preparations to mobilize drills and crews to site to commence drilling as promptly as possible. With drilling already underway by Barrick Gold at our nearby Pueblo Grande project, as part of an earn-in agreement, we are excited about the potential for an active first quarter of 2021.\"An announcement reporting the mobilization of drills and commencement of drilling will be disclosed as the program gets under way.*Note: Rock grab samples are selective by nature and are unlikely to represent average grades on the property.This...