Mr. Jeffrey Wilson reports
PRECIPITATE RECEIVES DRILL PERMIT FOR PUEBLO GRANDE PROJECT IN DOMINICAN REPUBLIC
Precipitate Gold Corp. has received a government-issued permit for diamond drill testing within the company's Loma Cuaba lithocap zone at its 100-per-cent-owned Pueblo Grande project, located adjacent to Barrick's world-class Pueblo Viejo gold-silver mine, in the Dominican Republic.
The Ministry of Environment and Natural Resources of the Dominican Republic has granted a permit totalling 30 drill platforms at various key locations within the broader Loma Cuaba lithocap target area. Importantly, Precipitate has also obtained associated surface access authorization from local private surface rights landholders, giving the company full and immediate access to initiate ground preparations in advance of the commencement of drilling.
Jeffrey Wilson, company president and chief executive officer, commented: "We are pleased to have received this important drill permit, as it provides the company the authorization to begin ground preparations as we advance toward commencement of drilling. As recently announced, our technical team has identified eight distinct prioritized drill target areas within the Loma Cuaba lithocap zone (see company news release dated Sept. 4, 2019). Having permission to drill within all eight of those zones from up to 30 individual drill locations provides the company valuable flexibility in executing a timely and efficient program. Receipt of the permit, along with landholder surface rights, allows crews immediate access to commence ground preparations and pad construction in advance of drill."
Prioritization of specific drill target locations within the identified drill target areas and drill plan details are currently being refined by the company's technical team and are expected to be disclosed in the coming weeks.
This news release has been reviewed by Michael Moore, PGeo, vice-president, exploration, of Precipitate Gold, the qualified person for the technical information in this news release under National Instrument 43-101 standards.
About Precipitate Gold Corp.
Precipitate Gold is a mineral exploration company focused on exploring and advancing its mineral property interests in the Pueblo Viejo mining camp and Tireo gold trend of the Dominican Republic. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the company's portfolio and increase shareholder value.
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