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Precipitate receives permit to drill near Barrick’s Pueblo Viejo mine

Vladimir Basov

Kitco News

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(Kitco News) - Precipitate Gold (TSXV: PRG) announced today the 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 due east of Barrick's world-class Pueblo Viejo mining operation and the company's Pueblo Grande project in the Dominican Republic.

Precipitate said that 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.

The company added that “multiple holes” can be collared and drilled from each platform, allowing for the potential for a significant number of possible holes.

Precipitate also said that it has secured surface access authorizations from local private surface rights landholders, giving the company access to initiate ground preparations in advance of drilling.

President and CEO Jeffrey Wilson 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. 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."

By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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