Precipitate Completes Two Drill Holes and Pauses Program at Ponton Project, Dominican Republic
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Precipitate Completes Two Drill Holes and Pauses Program at Ponton
Project, Dominican Republic
Vancouver, B.C. – February 25, 2021 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG,
OTCQB: PREIF) announces it has completed two initia l drill holes of its planned 10-hole diamond drill
campaign at the Copey Hill Gold Zone, part of the Company’s 100% owned Ponton Project in the Dominican
Republic. Following completion of the first two hol es, a small faction of the local community requeste d
additional information regarding the drill program and the Company’s ongoing exploration plans therefore
the Company has elected to pause the program to allow for additional dialogue and transparency with local
stakeholders.
Two holes were completed as planned within the Nort h Anomaly of the Copey Hill Gold Zone, targeting
potential sub-surface mineralization within coincid ent geological, geophysical and multi-element
geochemical anomalies hosting elevated gold and silver values. Drill core from these holes has been logged,
cut and shipped for laboratory analysis. The potential for technical teams to assess and evaluate data from
these initial holes in the interim will be advantag eous in planning subsequent drill locations in adva nce of
recommencing the balance of the fully permitted and budgeted drill program. The drill will be stored offsite
during the recess period in anticipation of near-term redeployment to resume the program.
The Company wishes to reiterate it has obtained all necessary government permits and licenses from both
the Ministry of Environment and the Ministry of Energy & Mines and has secured all necessary surface access
authorizations required from pertinent local private surface rights landholders to conduct the drill program.
The government is liaising with the Company in support of the local engagement.
Additional information on initial drill hole results and/or an update on the status of the drilling program will
be reported as information becomes available.
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 has entered into an Earn-In Agreement
with Barrick Gold Corporation, whereby Barrick can earn a 70% interest in the Company’s Pueblo Grande Project by
incurring US$10M within six years and producing a qualifying Pre-feasibility Study. Precipitate is also actively evaluating
additional high-impact property acquisitions with t he potential to expand the Company's portfolio and increase
shareholder 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
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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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 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 “Com pany”) 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, perfor mance or achievements of Precipitate to be material ly different from those expressed or implied by
such forward-looking information. Such risks and other factors may include, but are not limited to: th e exploration concessions may not be granted
on terms acceptable to the Company, or at all; gene ral 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 leg islation affecting mining; timing and availability of external financing on acceptable terms;
conclusions of economic evaluations; and lack of qu alified, 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, estima ted or intended. Accordingly, readers should not pl ace undue reliance on forward-looking
information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.