(via TheNewswire)
Barrick completed 4 diamond drill holes totalling approximately 1,200 metres at the Project’s
Pueblo Grande Norte Zone , located immediately west of Barrick’s Pueblo Viejo mining pits3 of the 4 holes encountered encouraging permeablevolcanic lithologies affected by high-sulfidation type alteration with several events of strong sulfide disseminations, similar to observations at the neighbouring
Pueblo Viejo Mine Final multi-element laboratory analytical results are pending, but significant gold and silver values are not anticipated from these initial holes. However, the favourable high sulphidation type alteration encountered in these recently completed holes warrants follow up geophysics and diamond drilling with a second rig, and supports the zone’s potential to host gold mineralization
Barrick plans to conduct a detailed ground magnetic survey and a follow up drilling program within the Zone as part of the planned drilling program at Pueblo
Grande Norte
Exploration to date has identified two early-stage targets of coincident soil anomalies and geophysical anomalies (IP chargeability).
Barrick has conducted various phases of geological surface mapping, systematic grid soil sampling and reconnaissance scale IP ground geophysics.
Barrick’s exploration work for 2024 will delineate and refine drill-worthy targets in this emerging area of the Project, with Pueblo
Grande Sur diamond drill testing permits expected during 2024The Pueblo Grande Sur Zone is located several kilometers to the southeast of Barrick’s Pueblo Viejo mining pits
See accompanying property map figure for location details.
Figure 1: Pueblo Grande Location Map
In accordance with the Earn-in Agreement between Precipitate and Barrick, as announced
Grant of Stock Options
In addition, the Company announces that it has granted stock options to certain of its directors, officers and consultants to purchase up to 2,570,000 common shares. Each option is exercisable to acquire one common share of Precipitate at a price of
The Company’s website has additional information, maps and figures of recent and historical Pueblo Grande project data.
For reference: g/t = grams per tonne, Au = gold, m = metres, millivolts per volt = mv/v, IP = induced polarization
This news release has been reviewed by
About
Additional information can be viewed at the Company’s website www.precipitategold.com.
On Behalf of the Board of Directors of
“Jeffrey Wilson”
President & CEO
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com
Neither the
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company”) current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilledlabouror loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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