Precipitate Receives Drill Permit for Pueblo Grande Project in Dominican Republic
Vancouver, September 18, 2019 - Precipitate Gold Corp. (TSXV: PRG) ("Precipitate" or the "Company") is pleased to announce receipt of the government issued permit for diamond drill testing within the Company's Loma Cuaba Lithocap Zone at its 100% owned Pueblo Grande Project 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 & CEO stated, "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 (8) distinct prioritized drill target areas within the Loma Cuaba Lithocap zone (see Company's news release dated September 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 P. Geo., Vice President, Exploration of Precipitate Gold Corp., 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
For further information, please contact:
Toll Free: 855-558-0335
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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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