Precipitate Contracts Former Pueblo Viejo Chief Geologist and Completes Ground Preparations in Advance of Drilling at Pueblo Grande Project, Dominican Republic
Vancouver, British Columbia--(Newsfile Corp. - December 17, 2019) - Precipitate Gold Corp. (TSXV: PRG) ("Precipitate" or the "Company") is pleased to announce it has engaged Darren O'Brien P.Geo. to provide a project geology review and assist with the selection of drill collar locations and orientations within the Company's Loma Cuaba Lithocap Zone of its Pueblo Grande Project adjacent to Barrick's Pueblo Viejo gold-silver mine. Mr. O'Brien was the Pueblo Viejo Chief Geologist (2002-2006) for Placer Dome (now Barrick) at the time the positive production decision was made. In addition, Company field crews have completed clearing and repairs to the area's main access roads, while establishment of the necessary pathways and drill site preparations in advance of drilling is ongoing. See accompanying photos of field crews conducting ground preparations and prospecting, or visit the Company's website at www.precipitategold.com.
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Precipitate's ground team, led by Vice President, Exploration, Michael Moore, P. Geo., consists of Darren O'Brien and two additional Canadian geologists with extensive Dominican Republic exploration experience. In addition, a 14 man crew of locally-sourced field helpers and managers are clearing access routes and conducting final field preparations in advance of the commencement of the upcoming diamond drill program.
Jeffrey Wilson, President & CEO, stated, "We are pleased to be nearing commencement of this highly anticipated drill program. The addition of Darren O'Brien, a former Placer Dome geologist, during this critical stage of target refinement, heightens our team's knowledge and understanding of the local geological environments that will be tested in the upcoming drill program. Access to this level of expertise in this stage of preparation is a vital tool in finalizing the drill plan."
Subsequent to the completion of the Loma Cuaba Lithocap Zone drill program preparations , the technical team will visit other prospective but underexplored zones within the broader Pueblo Grande property package to conduct mapping and sampling surveys to identify and prioritize additional areas that could emerge as future targets for exploration.
This news release has been reviewed by Michael Moore P. Geo., Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards.
About Precipitate Gold:
Precipitate Gold Corp. 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.
Additional information can be viewed at the Company's website www.precipitategold.com.
On Behalf of the Board of Directors of Precipitate Gold Corp.,
President & CEO
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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, skilled labour or 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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