Precipitate Receives Drill Permit for Ponton Gold Project in Dominican Republic
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Precipitate Receives Drill Permit for Ponton Gold Project
in Dominican Republic
Vancouver, B.C. – January 6, 2021 - Precipitate Gold Corp. (“Precipitate” or the “Company”) (TSXV: PRG,
OTCQB: PREIF) is pleased to announce receipt of the government issued permit for diamond drill testing
within the Company's Copey Hill Zone at its 100% own ed Ponton Project located approximately 25
kilometres (“km”) due east of Barrick’s world-class Pueblo Viejo mining operation and the Company’s
Pueblo Grande project in the Dominican Republic.
The Ministry of Environment and Natural Resources o f the Dominican Republic has approved the
Company’s application and granted a permit for dril ling from a total of 10 drill platforms at various key
locations within the Ponton Project’s Copey Hill Zone. Multiple holes can be collared and drilled from each
platform, allowing for the potential for a signific ant number of possible holes. Importantly, Precipitate has
also secured surface access authorizations from loc al private surface rights landholders, giving the
Company access to initiate ground preparations in advance of drilling.
Jeffrey Wilson, Company President & CEO stated, "We are pleased to receive the Copey Hill drill permit as
we can now advance ground preparation for this impo rtant first phase of drilling. Drilling will focus on
locations with high-grade gold surface showings (in cluding 53.0 grams per tonne gold and 17.0 grams per
tonne gold* ) combined with significant multi-element soil anomalies, identified epithermal style host rock
alteration and related geophysical 3D magnetic anom alies; particularly within the high priority South
Anomaly. The Company’s joint ownership (50/50 with GoldQuest Mining) and immediate access to drilling
equipment and personnel allows us to initiate prepa rations to mobilize drills and crews to site to
commence drilling as promptly as possible. With dri lling already underway by Barrick Gold at our nearb y
Pueblo Grande project, as part of an earn-in agreem ent, we are excited about the potential for an acti ve
first quarter of 2021.”
An announcement reporting the mobilization of drill s and commencement of drilling will be disclosed as
the program gets under way.
*Note: Rock grab samples are selective by nature an d are unlikely to represent average grades on the
property.
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.
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
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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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, 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 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.