Precipitate Gold drilling new target at Pueblo Grande Project, Dominican Republic
Precipitate Gold Corp. [TSXV: PRG; OTCQB: PREIF] reported that diamond drilling has commenced at the Pueblo Grande Norte zone of the 100%-owned Pueblo Grande Project, Dominican Republic.
The drill campaign is budgeted to consist of an initial four holes, each with an estimated average drill depth of approximately 450 metres for a total expected program of approximately 2,000 metres. The drill campaign is designed to test a newly identified cluster of induced polarization (IP) geophysical chargeability-high anomalies that were recently delineated through a comprehensive review of historical exploration data and follow-up IP geophysical surveying completed by Precipitate late last year. See figures and photographs below.
Jeffrey Wilson, President and CEO of Precipitate Gold, commented, “We are pleased to have successfully advanced this compelling geophysical target from data interpretation through to drilling in a relatively short period of time. The identification of a sizeable and untested cluster of chargeability anomalies located immediately adjacent to a world-class mining operation represents an exciting exploration opportunity for the company. With drilling now underway, we look forward to testing this target and evaluating initial results to determine its potential to host meaningful gold mineralization.”
Drilling is being conducted by Energold Drilling, an international drilling contractor with operational experience throughout Latin America and the Caribbean, including significant prior work on the Pueblo Grande Project in the Dominican Republic. The selected diamond drill rig is well suited for the anticipated hole depths and ground conditions and is operated by Energold’s experienced workforce familiar with the region and project operating environment.
The drill program is expected to run for approximately eight to 12 weeks, depending on various circumstances, with assay results to be reported as they become available.
Precipitate Gold is advancing its mineral property interests in the Dominican Republic, including its 100% owned Juan de Herrera project located immediately adjacent to GoldQuest Mining’s Romero Project, its Pueblo Grande project located immediately adjacent to the Pueblo Viejo mine operated by Barrick Mining, and its 100%-owned Ponton project located 30km east of the Pueblo Viejo mine.
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