Barrick to Commence Drilling with Two Drills at Precipitate’s Pueblo Grande Project, Dominican Republic
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Barrick to Commence Drilling with Two Drills at Precipitate’s
Pueblo Grande Project, Dominican Republic
Vancouver, B.C. – December 15, 2020 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV:
PRG, OTCQB: PREIF) is pleased to announce that Barr ick Gold Corporation (“Barrick”) has mobilized two
drill rigs to the Company’s Pueblo Grande Project t o commence an initial phase of exploration drilling .
Barrick has also provided Precipitate an update on exploration activities conducted to date as part of its
earn-in agreement (the “Agreement”) whereby Barrick has the right to earn a 70% interest in the
Company’s Pueblo Grande Project located immediately adjacent to Barrick’s world-class Pueblo Viejo gold-
silver mine in the Dominican Republic.
Barrick has advised Precipitate that it will initia te a first phase exploration drilling program of up to 3,750
metres (“m”) in 12 to 15 holes testing targets with in the area the Company delineated as the “Lithocap
Zone”, located immediately west and northwest of Bar rick’s Pueblo Viejo mine. Barrick has advised the
Company that drilling will be conducted by two drill rigs simultaneously testing two distinct areas.
Jeffrey Wilson, Precipitate’s President & CEO state d, “We are excited to see drilling get underway at our
Pueblo Grande project and we are pleased with the w ork completed to date by Barrick’s Dominican
exploration team. The opportunity to see several ta rgets previously delineated and prioritized by
Precipitate’s exploration team now being the subjec t of a substantial exploration drill program is an
exciting and positive step forward for the project as part of our earn-in agreement with one of the wo rld’s
premier gold mining companies. With two drills turn ing, we anticipate an efficient drill program with
analytical results to follow in due course.”
Barrick’s recent exploration update to the Company indicates that preparatory work conducted in advance
of drilling included detailed surface geological ma pping and geo-stratigraphic modelling in relation t o the
nearby Pueblo Viejo Mine, re-logging historical dri ll core from 24 previously drilled holes (9,264m) w ith
complementary short wave infrared (SWIR) spectrosco pe readings, drill site preparation and securing
various agreements and approvals including the modification of the Dominican Government drill permit.
In accordance with the terms of the Agreement (see the Company’s news release dated April 14, 2020 ),
Barrick has the right to earn a 70% interest in the project by, among other things, incurring a minimu m of
US$10.0 million in qualifying Work Expenditures, co mpleting a minimum of 7,500 metres of drilling, and
delivering a qualifying Pre-Feasibility Study all before the sixth anniversary of the Agreement.
Results from Barrick’s ongoing work as part of the earn-in agreement will be reported as received.
This news release has been reviewed by Michael Moor e, Vice President, Exploration of Precipitate Gold
Corporation, the Qualified Person for the technical information in this news release under NI 43-101
standards.
TSX VENTURE: PRG | www.precipitategold.com
625 Howe Street, Suite 1020, Vancouver, BC, V6C 2T6
Toll free: 855 558 0335
Direct: 604 558 0335
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About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration com pany focused on exploring and advancing its mineral property
interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The Company i s actively
exploring its 100% owned Ponton and Juan de Herrera projects. The Company’s Pueblo Grande Project is subject to an
Earn-In Agreement with Barrick Gold Corporation, wh ereby Barrick can earn a 70% interest by incurring US$10M
within six years and producing a qualifying Pre-fea sibility Study. Precipitate is also actively evalua ting additional high-
impact property acquisitions with the potential to expand the Company's portfolio and increase shareho lder value, in
the Dominican Republic and other favourable jurisdictions.
Additional information can be viewed at the Company’s website www.precipitategold.com .
On Behalf of the Board of Directors of Precipitate Gold Corp.,
“Jeffrey Wilson”
President & CEO
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 ex pected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such w ords 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 ac hieved. 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-loo king information is subject to known and unknown ri sks, 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 a ll; general business, economic, competitive, politi cal 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 enviro nmental legislation affecting mining; timing and av ailability of external financing on acceptable
terms; conclusions of economic evaluations; and lac k of qualified, skilled labour or loss of key indiv iduals. Although Precipitate has attempted to
identify important factors that could cause actual results to differ materially from those contained i n forward-looking information, there may be
other factors that cause results not to be as antic ipated, 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.