![]() Waddell is the founder and former President and CEO of GoldQuest and is responsible for much of GoldQuest’s initial work at the Romero deposit. Alistair Waddell is a geologist with over 20 years of diverse resource industry experience, with 10 years of that centered in the Dominican Republic. Several key targets within Precipitate’s Juan de Herrera are permitted and ready for follow up drilling.Īside from having major mining companies for neighbors, Precipitate Gold also benefits from the experience of its directors. Initial drill campaigns by Precipitate evidenced the existence of mineralization on the Juan de Herrera project that is similar to the mineralization found on GoldQuest’s Tireo project. ![]() The project features numerous gold, copper and zinc targets that require follow up exploration. The project is next to GoldQuest Mining Corp.’s (TSXV: GQC) Tireo project in the western Dominican Republic. The Juan de Herrera project is also adjacent to another major player in another region of the country. Precipitate is fully permitted to drill from up to 30 individual drill locations with this large target area and delineated eight highly-prospective target areas for drilling in its upcoming initial fully-funded 8 to 10-hole drill program. Precipitate Gold has been focusing its exploration on the Loma Cuaba lithocap zone, which abuts the Pueblo Viejo mine. The mine has a projected production of approximately 600,000 ounces of gold at an all-in sustaining cost of US$650 per ounce for 2019. The Pueblo Viejo mine is the eighth-largest gold mine in the world and is the largest gold mining operation in Latin America. The company’s flagship Pueblo Grande project is contiguous to Barrick Gold (TSX: ABX) and Newmont Goldcorp’s (TSX: NGT,NYSE:NEM) Pueblo Viejo mine site on the north, east and west sides. Precipitate Gold’s current projects are strategically located in two of the Dominican Republic’s most prospective and active gold and copper mining camps. Precipitate Gold acquires 100 percent of the properties that it owns and ensures that they are not subject to any underlying vendor payments or work commitments. The company is also looking to acquire additional properties to expand its portfolio. (TSXV: PRG,OTCQB:PREIF) is a mineral exploration company that is advancing its Pueblo Grande and Juan de Herrera gold projects in the Dominican Republic. Top Battery Metals Stocks on the TSX and TSXV.He noted that the mine had exceeded guidance and the companyĬontinued to negotiate a 20-year lease extension with the government.īristow, who took the helm in January 2019, said the work done over the past months had equipped Barrick to become the most valued gold company by 2030. Porgera in Papua New Guinea has tier one potential but faces many challenges in the form of “legacy issues and an unruly neighborhood,” Barrick’s president and chief executive officer, Mark Bristow, said last month. Gold by a substantial margin, delivering a new record of 814,027 ounces. ![]() Gold mine, which last year beat its production guidance of 750,000 ounces of It has also boosted production at Kibali, Congo’s biggest In the past year, Barrick has been focusing on its tier-one assets and has reported strong performance across the group, particularly at Cortez mine in Nevada and Veladero in Argentina. Pueblo Viejo, a joint venture between Barrick (60%) and Newmont (40%), began commercial production in 2013. The asset surrounds the Pueblo Viejo mine site on the west, north and east side, covering roughly 9,863 contiguous hectares, about 50 km north of the capital city of Santo Domingo. The deal comes only a year after Precipitate grabbed all of Everton’s Dominican Republic exploration concessions, which included its now flagship Pueblo Grande project. “Our exploration focus will immediately turn to near term drill targets emerging within the company’s nearby Ponton gold project and the ongoing advancement of existing targets at the Juan de Herrera project, immediately adjacent to GoldQuest’s Romero project,” Wilson said. Republic projects,” president and chief executive, Jeffrey Wilson, said in theīarrick has also agreed to subscribe for $1 million (C$ 1.39m) of Precipitate’s common shares in a private placement Precipitate to continue the advancement of its other 100%-owned Dominican “The injection of additional capital into the company allows As part of the deal, Barrick has also agreed to subscribe for $1 million (C$1.39 million) of Precipitate’s common shares in a private placement, the Vancouver-based junior miner said in a separate statement.
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