The Ministry of Energy and Mines highlights the corporation’s confidence in the Dominican Republic after promising findings
The Ministry of Energy and Mines (MEM) has valued the recent discoveries of the Canadian company Precipitate Gold Corporation in the Pueblo Grande area, close to the Pueblo Viejo deposits in Cotuí, Sánchez Ramírez province, as a sign of confidence in the authorities. and the Dominican mining environment.
Minister Antonio Almonte has congratulated Precipitate Gold for the positive results obtained to date, highlighting that these findings would lay the foundations for a next phase of drilling, supported by Barrick Gold Pueblo Viejo, with whom Precipitate Gold maintains a collaboration agreement.
“Geochemical anomalies are promising signs of deposits of precious metals such as gold,” explained Minister Almonte. “The Government and the Ministry are closely monitoring these works to ensure that they are carried out in accordance with environmental regulations, and that, if their exploitation is viable, the benefits have a positive impact on the country and nearby communities.”
Technical collaboration and future expectations
Technicians from the Vice Ministry of Mines are collaborating closely with Precipitate Gold, who have expressed their satisfaction with the preliminary results to its headquarters in Vancouver, Canada, and to the Dominican authorities.
In a recent statement, Precipitate Gold detailed that studies carried out in the southern area of Pueblo Grande have revealed new gold anomalies in the ground, especially in the western and central areas of the project. These anomalies coincide with other important tracers such as silver, arsenic, antimony and thallium.
Exploration plans and agreement with Barrick Gold
The company has consolidated its collaboration agreement with Barrick Gold, granting the latter the right to acquire a 70% stake in the project.
According to the statement, Barrick will continue to outline and refine potential drilling targets in 2024 at Pueblo Grande Sur, pending obtaining the necessary permits this year.
Precipitate Gold’s website offers additional information, including recent and historical maps and data on the Pueblo Grande project, as well as details of the agreement signed with Barrick Pueblo Viejo in April 2020.
About Precipitate Gold Corporation
Precipitate Gold Corp. is a mineral exploration company focused on advancing its mineral property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend, southern Dominican Republic.
What is a Geochemical Anomaly?
A geochemical anomaly is a variation in the normal chemical distribution of a specific geographic area. Strictly speaking, a mineral deposit is a geochemical anomaly in itself. The distribution of chemical elements related to the formation or erosion of a mineral deposit is also considered a geochemical anomaly.
