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 April 10, 2025, Precipitate Gold Corp. has commenced the establishment of control grid lines for a ground induced polarization geophysical survey planned over multiple zones within its 100-per-cent-owned Juan de Herrera project in the Dominican Republic.

Precipitate field staff has started cutting control grid lines for an ensuing induced polarization geophysical survey. A combined total of about 35 line kilometres of grid lines will be created over four priority areas, including Ginger Ridge East, Southeast, Centro and Jengibre South. The new grid lines are strategically placed to:

• Refine known 2-D pole-dipole IP geophysical anomalies by increasing surveying density from 200-metre line intervals to 100-metre intervals (particularly over the Southeast and Centro zones);
• Expand the grid areas to survey possible on-strike extensions of known mineralization (particularly within the Ginger Ridge East and Jengibre South zones).

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "It is well established that IP geophysical surveying is a very effective tool for identifying potential gold and copper mineralization in the Dominican Republic's Tireo formation volcanic rocks, as evidenced by the concealed, at-depth discoveries at Romeo and Cachimbo (Goldquest), Candelones (Unigold) and Ginger Ridge (Precipitate Gold). IP chargeability and resistivity anomalies, augmented by surface rock-soil samples and geological mapping, provide the company with critical information applicable towards delineation of high-quality drill targets. Exploration at Juan de Herrera is progressing along a proven and systematic course that will lead to superior future drill targets. We look forward to completing the gridlines and initiating the IP geophysical survey."

On April 02, 2025, Adrian Fleming has resigned from Precipitate Gold Corp.'s board of directors and has stepped down from his role as non-executive chairman of the board, effective April 1, 2025.

The board and management thank Mr. Fleming for his contributions during his tenure and wish him the best in his future endeavours.

On April 01, 2025, Precipitate Gold Corp. announced the results from ongoing hand trenching and outcrop sampling, within the CN Zone at the Company’s 100% owned Juan de Herrera Project (“ Juan de Herrera ” or the “ Project ”) in the Dominican Republic.

Ongoing exploration of the priority CN Zone continues to refine and expand the gold-enriched structure, where recent new hand trench sampling has yielded a highlight result of 7.2 g/t gold over 2.0 metres (‘m’). Additionally, this latest phase of work has extended the surface trace of the gold-rich structure beyond 285 metres , having identified an offset extension of the zone near its previously identified southern extent. The gold enriched structure remains open to the south and follow up sampling will continue to focus on this southern region.

Jeffrey Wilson, Precipitate’s President and CEO stated, “Trench work at the CN Zone continues to advance and expand this newly identified gold target. We are especially pleased that detailed follow up work by field crews led by VP Exploration, Michael Moore, further traced this lengthy gold-enriched structure along trend, and identified the offset, evidencing the structure remains open and continues southward. Importantly, the newly identified offset is in close proximity (about 30 metres west) to the Trench 5 exposure that returned 83.6 g/t gold and 29.0 g/t silver over 1.0m . These latest results combined with multiple previous high-grade gold sample results reported from the CN zone speaks to the ongoing potential of this newly discovered zone as an emerging target area within an already highly prospective property package. We look forward to continuing our work at the CN zone, especially to the south along this newly identified structural offset, as well as other prospective areas throughout the project and reporting future exploration results as they become available.”

On March 21, 2025, Precipitate Gold Corp. has received, from Barrick Gold Corp., final analytical results from the latest phase of drilling, as well as notification from Barrick of its 30-day advance written notice of termination of its right, by way of an earn-in agreement, to earn a 70-per-cent interest in Precipitate's Pueblo Grande project, located immediately adjacent to the Pueblo Viejo gold mine, operated by Barrick in the Dominican Republic. Upon expiration of the 30-day notice period, the agreement will terminate and each company's obligations under the agreement will cease, except as specifically provided therein.

Jeffrey Wilson, president and chief executive officer of Precipitate Gold, commented: "Although our Pueblo Grande project did not meet Barrick's threshold for continued exploration, we believe the project retains geological potential to host additional gold and copper mineralization. We appreciate the extensive and detailed work conducted on the project by Barrick's exploration team over the past several years. The data generated by Barrick represents a significant contribution to our geological understanding of the project, and we are eager to conduct a thorough compilation and review of the new and historic data sets to assess the potential for conducting future exploration. While the termination of the earn-in is not the outcome we were seeking from our partnership with Barrick, we are pleased that after acquiring the Pueblo Grande project in 2019 for just $25,000 (Canadian) and some shares of Precipitate, and spending less than $380,000 (Canadian) in our own exploration work, we were able to attract Barrick to invest $1.3-million (Canadian) in a private placement, spend $7.0-million (U.S.) in exploration, pay Precipitate $5.0-million (U.S.) in a cash payment as part of an amendment to the earn-in agreement and grant Precipitate a 3-per-cent NSR on ground now comprising a portion of the Pueblo Viejo mining licences."

On February 26, 2025, Barrick Gold Corp. has commenced a diamond drilling program designed to test two distinct, high-priority target areas within Precipitate Gold Corp.'s 100-per-cent-owned Pueblo Grande project, located immediately adjacent to the Pueblo Viejo gold mine operated by Barrick in the Dominican Republic.

The phase III drill program tests targets at both the Pueblo Grande Norte and Pueblo Grande Sur zones within the project. Drilling at the Pueblo Grande Norte zone will follow up on a horizon of favourable alteration related to silica and sulphide hydrothermal brecciation intercepted in Barrick's previous drilling campaigns. Barrick has also mobilized a drill rig to Pueblo Grande Sur to test a blind target associated with chargeability anomalies identified below a limestone and sedimentary rock sequence.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "We're pleased to see the commencement of a third phase of drilling at our Pueblo Grande project, as Barrick's geophysical and geochemical work to date within the project's Pueblo Grande Norte and Pueblo Grande Sur zones has delineated priority drill targets. The program is designed to test for postulated high-sulphidation epithermal style gold mineralization concealed at relatively shallow depths to 250 metres, related to northeast-trending structures. We look forward to receipt of assays as results become available."

On February 05, 2025, Precipitate Gold Corp. has released surface rock sampling results from the continuing prospecting and sampling program conducted over multiple newly identified gold-in-soil anomalies reported in recent months within its 100-per-cent-owned Juan de Herrera project in the Dominican Republic.

Centro zone initial highlights:

Rock grab samples report up to 2.0 per cent copper and up to 2.6 g/t gold collected from andesite volcanic lithologies which show variable silicification and pyrite-chalcopyrite mineralization;

Cluster of three gold-in-soil anomalies, collectively covering a trend of about 1,400 m long by about 100 m wide; open to the northwest;

Coincident with strong resistivity-high anomalies (mapping silica alteration) and modest IP chargeability high anomalies;

Positioned between the southeast and Jengibre South zones and part of three parallel northwest-trending zones (matching the regional rock stratigraphy trend); an overall east-west distance of 2.7 kilometres.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "Since reporting the identification of numerous new zones of elevated gold and/or base metals (copper, lead and zinc) in soil anomalies within the Juan de Herrera project in August of last year and constructing an important new access road into the southern region of the project, field crews have been busy ground truthing and collecting additional surface samples in and around these compelling areas. Recent follow-up sampling programs conducted in recent months have not only expanded our understanding of established zones but yielded new discoveries such as the Centro and CN zones, further evidencing the project's ongoing prospectivity. We look forward to additional positive progress as our work continues."

On January 14, 2025, Precipitate Gold Corp. reported that it construct new access road at Southeast xone of the Juan De Herrera project, Dominic Republic. Equipment has been mobilized to construct and upgrade access roads within the southern region of Precipitate Gold Corp.'s 100-per-cent-owned Juan de Herrera project in the Dominican Republic.

The roads are being constructed and upgraded in advance of future work in and around the Southeast zone to improve access to multiple highly prospective areas within the southern project region where previous results have yielded rock sample results up to 13.5 per cent copper, and a continuous rock chip (trench) sample reported 3.0 metres (m) of 2.78 per cent copper, within 8.0 m of 1.28 per cent copper, within a broader 18.0 m of 0.70 per cent copper. The construction of these access routes will streamline future mobilization of crews and equipment and aid in facilitating follow-up exploration and advancement of several promising underexplored target areas. The equipment and personnel utilized in this initiative were sourced from nearby communities and conducted in full collaboration with various local stakeholders.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "We are pleased to commence this work within an emerging region of the Juan de Herrera project. The newly constructed access routes will not only enhance our exploration capabilities for future and ongoing exploration but provide substantial benefits to the local communities by opening and improving previously challenged and inoperable local infrastructure for improved public use. This initiative, carried out in concert with local groups and using locally sourced road construction equipment, underscores our commitment to responsible exploration through collaborative community partnerships."

On January 07, 2025, Precipitate Gold Corp. has initiated a multistaged fieldwork program at its 100-per-cent-owned Juan de Herrera project in the Dominican Republic. Planned exploration will focus on the project's numerous established and newly developing gold and base metal zones and anomalies.

The 2025 Juan de Herrera exploration program will start with foundational work, including surface sampling, geological mapping and logistical infrastructure, before transitioning to programs of high-level induced polarization ground geophysics targeting potential gold mineralization at select prospective zones, both known and emerging. With the continuing identification and refinement of the project's multilayered geophysical-geochemical-geological anomalies, this work will assist the company in rapidly evaluating and prioritizing various prospective gold and copper zones for possible future drill testing. The pace and progression of the exploration work from one zone to another will be results contingent allowing for timely dynamic changes.

Near-term exploration will focus on the higher-priority gold-copper zones at Southeast, Jengibre South, Ginger Ridge East and CN. Other zones such as Peak, Melchor, JT and various early-stage geochemical anomalies will also undergo additional work to evaluate their potential to warrant additional, more detailed exploration to assist in determining their merit for possible future drill testing.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "We are excited to commence an extensive, cost-effective, multifaceted exploration program at Juan de Herrera. Over the coming months, the company's technical team, led by vice-president, exploration, Michael Moore, will conduct detailed geochemical and geophysical work over numerous existing and newly identified mineralized zones and anomalies throughout the project. Results from this fieldwork will improve the company's understanding of certain prospective target areas and assist in evaluating and prioritizing potential future drill targets. We look forward to commencing this important phase of work and vectoring toward the potential discovery of VMS (volcanogenic massive sulphide) and epithermal-style mineralization in the highly prospective Tireo gold camp."

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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