Precipitate Gold Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

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. 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 the potential to expand the Company's portfolio and increase shareholder value, in other favourable jurisdictions.

The Company's Pueblo Grande Project in the Pueblo Viejo Mining Camp, offers a district-scale land package strategically located immediately adjacent to Barrick's Pueblo Viejo mine, which is among largest active gold mining operation in Latin America.

The Company's Juan de Herrera Project situated within the prospective Tireo Gold Trend in western Dominican Republic, adjacent to GoldQuest Mining's Romero project, establishing the Company with substantial landholdings in the country's two most significant gold and copper camps – the Pueblo Viejo Mining Camp and Tireo Gold Trend.

Projects

Pueblo Grande Project, Dominican Republic

Barrick's 2024 Exploration Plans:

• Targeting both:
• Near surface high-sulphidation epithermal Pueblo Viejo style gold mineralization; and
• A possible concealed copper-gold porphyry style target at depth.
• Follow up drilling within the Pueblo Grande Norte Zone in 2024
• Newly delineated targets within Pueblo Grande Sur Zone to be drill tested late 2024 or early 2025
• Testing multiple prospective targets delineated by surface sampling (geochemistry), geological features (rock types and various fault structures), geophysics (IP and magnetic) and spectrometric studies (clay alteration)

Pueblo Grande Norte Zone: Barrick's Diamond Drilling

• Barrick completed 4 diamond drill holes totalling approximately 1,200 metres immediately west of Barrick's Pueblo Viejo mining pits.
• 3 of the 4 holes encountered encouraging permeable volcanic lithologies affected by high-sulphidation type alteration with several events of strong sulfide disseminations, similar to observations at the neighbouring Pueblo Viejo Mine.
• The favourable high-sulphidation type alteration encountered in these holes warrants follow up geophysics and diamond drilling and supports the Zone's potential to host gold mineralization.
• Barrick plans to conduct a detailed ground magnetic survey and a follow up drilling program within the Zone as part of a planned follow up drilling program at Pueblo Grande Norte.

Barrick's Pueblo Grande Sur Zone Plans

New Gold Anomalies Identified:

• Several new early-stage gold-in-soil anomalies located on west and central parts of Pueblo Grande Sur; these gold anomalies are often coincident with important silver, arsenic, antimony and thallium pathfinders.
• Largest soil anomaly measures 2.8km x 1.0km (as defined by 90th percentile values >13 ppb gold) and is open to the west, trending in the vicinity of Barrick's Zambrana exploration target, which is located southeast of the Pueblo Viejo Mine Area.
• Barrick's ongoing exploration work for 2024 for the Pueblo Grande Sur will delineate and refine potential drill-worthy targets in this emerging area of the Project, with Pueblo Grande Sur diamond drill permits expected during 2024 or 2025.

Pueblo Grande Sur Target:

• Barrick has delineated a concealed and untested IP chargeability target at depth
• Interpretation of the geophysical response and associated favorable alteration and permeable host rocks
• The anomaly is open to the south
• Barrick intends to further delineate the anomaly with an additional IP line to the south to evaluate the possible extension of the chargeability anomaly
• A drilling permit application has been submitted for an initial diamond drill program expected to commence in late 2024

Juan de Herrera Project, Dominican Republic

Juan de Herrera Project Targets

Multiple New Targets Delineated in 2024

• 8 new priority zones of elevated gold and/or base metals (copper, lead and zinc) in soil anomalies
• Prioritized 3 zones for immediate follow up exploration, those being CN, CdN, and GM zones
• Targets identified following collection of over 17,000 individual soil samples on 25 metre by 50 metre spacings. Over 14,000 of these soil samples were previously analyzed with a handheld XRF which led to the identification of approximately 8,000 samples showing elevated base metal and pathfinder elements, therefore warranting full laboratory analysis

CN Zone Sample Highlights

• High grade rock grab samples yielded values of 73.8 g/t gold, 34.9 g/t gold, 11.7 g/t gold, and 8.7 g/t gold
• More representative outcrop grab samples yielding values ranging from 2.2 to 6.3 g/t gold
• Sampling has demarked an area measuring 700 metres (north-south) by up to 300 metres (eastwest), where the multi-element soil anomaly is open to the north and south
• 13 of the 31 initial rock samples collected report anomalous to highly anomalous gold values, with associated pathfinder elements silver, arsenic, barium, copper, mercury, lead, antimony and zinc.

CN Zone Trench Sampling Highlights

3 hand trenches returning highlight results:

• Trench 3: 32.2 g/t gold, 286 g/t silver over 5.1 metres (including 38.5 g/t gold, 347 g/t silver over 4.1 metres)
• Trench 2: 1.5 g/t gold, 12.6 g/t silver over 3.0 metres
• Trench 1: 1.0 g/t gold, 8.8 g/t silver over 4.0 metres
• The structure has a current verified strike length of about 50 metres and very likely exceeds this length as indicated by on-trend gold anomalous soil samples to the southeast
• Follow up infill soil sampling of the CN Zone has refined the outline of the gold-in-soil anomaly to an estimated area measuring about 725 metres (north-south) by up to 300 metres (east-west), where the multi-element soil anomaly appears to be open to the southwest

(See news release dated October 2, 2024)

District Scale Potential

High Grade Gold and Copper

The Tireo Formation

• Host to a multi-million ounce Au-Cu deposit
• Striking more than 60km NW-SE
• Highly mineralized belt with values up to 73.8 g/t Au and 34.0% Cu
• Largely underexplored

Summary

Strategic Land Positions Poised for Activation and Drilling

Dominican Republic Assets (owned 100%) Provide Strategic Optionality:

Pueblo Grande:

• Follow up drilling at Pueblo Grande Norte planned for H2 2024 or 2025.
• Initial Phase of diamond drilling planned for Pueblo Grande Sur
• All part US$10M Earn-in Agreement with Barrick

Juan de Herrera Project:

• Strategically located immediately adjacent to Goldquest Mining's Romero Project
• Multiple new geochemical anomalies identified in August 2024
• Multiple advanced and highly prospective drill targets; many with drill permits
• Company-owned drills to test multiple advanced-staged and drill-permitted prospective targets areas

Ponton Project:

• Coincidental Geochemical and Geophysical anomalies
• Significant Epithermal Target Area
• Warranting ongoing advancement toward drilling
• Drill ready and drill permitted
• Company-owned drills for low-cost drilling

Management

Management and Directors

Adrian Fleming, Chairman, Director

Geologist with 40 years experience. Underworld Resources bought by Kinross for $139.0M in 2010. Northern Empire bought by Coeur Mining for $117.M in 2018 Current Director of multiple resource-focused public companies.

Jeffrey Wilson, President and CEO, Director

25 years experience in mining sector. Background in IR and finance. Welcome Opportunities purchased by Endeavour Mining in 2002. Aquiline Resources bought by Pan American Silver. Silver Quest Res. bought by New Gold in 2012 for a value of $130.0M. Current Director of multiple resource-focused public companies.

Alistair Waddell, Director

Exploration Geologist, President and CEO of Inflection Resources. Former President and CEO of GoldQuest Mining Corp. Former VP, Greenfields Exploration for Kinross Gold Corp.

Current Director of multiple resource-focused public companies.

Lon Shaver, Director

President of Silvercorp Mining. Former Investment Banker at Raymond James. Current Director of multiple resource-focused public companies.

Michael Moore, P.Geo., Vice President of Exploration

Exploration Geologist with 30 years experience, Gold, Silver, Base Metal and Green-space Metals Exploration. Canada, USA, Africa and Latin America.

Advisor

Mejico Angeles-Lithgow

A Dominican national who, until March 2018 held the position of President and Executive Director of the Barrick-Pueblo Viejo mining operation in the Dominican Republic, which is the single largest investment in the country's economic history.

News Update

On December 17, 2024, Precipitate Gold Corp. announced the results of additional surface mapping and hand trench rock channel sampling, within the recently identified CN Zone at the Company’s 100% owned Juan de Herrera Project (“ Juan de Herrera ” or the “ Project ”) in the Dominican Republic.

It drilled 83.6 g/t Gold over 1.0m Extending the CN Zone's Gold-Enriched Structure to over 285 metres, at the Juan de Herrera Project, Dominican Republic.

Jeffrey Wilson, Precipitate’s President and CEO stated, “We’re pleased that ongoing sampling at the CN Zone continues to advance and expand this newly identified gold target. The consistency of mineralization along this extensive structure, combined with multiple high-grade gold sample results speaks to the ongoing potential of this newly discovered zone as an emerging target area within an already highly prospective property package. The ability to add the CN Zone as an augment to previously identified zones throughout the project, evidences the Juan de Herrera project’s prospectivity for ongoing exploration and possible discovery. We look forward to continuing our work at the project and reporting additional results as they become available.”

On December 04, 2024, Precipitate Gold Corp. and Barrick Gold Corp. have entered into an amendment to the existing exploration earn-in agreement in respect of the company's Pueblo Grande project, located immediately adjacent to the world-class Pueblo Viejo mining operation in the Dominican Republic.

Pursuant to the amendment, Precipitate and Barrick have agreed to, among other things, increase and extend the earn-in's total required work expenditures from the original $10.0-million (U.S.) to $22.0-million (U.S.), representing an increase in expenditures of 120 per cent.

Since entering into the earn-in in April of 2020, Barrick has satisfied work expenditure requirements up to the fourth anniversary, having incurred total work expenditures of greater than $5.0-million (U.S.) to date. Barrick must now expend an additional $17.0-million (U.S.) before completing the earn-in.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "We're pleased to see Barrick increase its work expenditure commitment while maintaining the requisite delivery of a prefeasibility study to earn a 70-per-cent interest in Precipitate's Pueblo Grande project. Barrick's willingness to increase the work expenditures by 120 per cent from $10.0-million (U.S.) to $22.0-million (U.S.), which is approximately $30-million (Canadian), evidences Barrick's interest in continued exploration, specifically at the two current priority drill target areas, Pueblo Grande Norte and Pueblo Grande Sur. We look forward to the subsequent receipt of updates and results as Barrick's exploration programs advance."

On December 02, 2024, Precipitate Gold Corp. has made encouraging developments with respect to mining and environmental policies in the Dominican Republic. The government of the Dominican Republic has recently implemented positive changes to Dominican environmental regulations that streamline processes and enable mineral exploration and development applicants to proceed to the environmental and social impact assessment process prior to being granted an exploitation concession.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "We see this environmental regulation as a significant and positive step forward for mineral exploration and mining in the Dominican Republic. This updated regulation aligns the DR's mining and environmental policies with those already in place in many other environmentally responsible mining jurisdictions. Acknowledging that community engagement and collaboration will always be an integral part of any successful mining scenario, this process allows companies like Precipitate to systematically advance projects from exploration through development and toward an environmentally responsible mining decision with a greater level of confidence. As such, we anticipate increased exploration budgets to be allocated to Precipitate's existing Dominican Republic property assets and look forward to ongoing mutually beneficial alignment with local communities, the Dominican government and all other stakeholders."

October 2, 2024, Precipitate Trenching Yields 32.2 g/t Gold with 286 g/t Silver Over 5.1 Metres in Newly Identified CN Zone at Juan De Herrera Project, Dominican Republic

https://precipitategold.com/precipitate-trenching-yields-32-2-g-t-gold-with-286-g-t-silver-over-5-1-metres-in-newly-identified-cn-zone-at-juan-de-herrera-project-dominican-republic/

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