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Barrick's Phase Two Drill Program Update
Drilling is in progress on three porphyry and epithermal targets within the
Lithocap Zone (now being calledPuebloGrande Norte ), immediately adjacent to Barrick’s Pueblo Viejo mining pits;
Two holes for more than 800 metres have been completed to date;
Barrick expects to complete up to 3,000m of diamond drilling in up to 10 holes in this second phase of drilling;
Drilling is expected to be completed by the end of
November 2023
New Target Delineation and Ongoing Exploration
A new area of interest calledPueblo
Grande Sur is emerging to the southeast of Barrick’s Pueblo Viejo mining concessions;
Within Pueblo
Grande Sur , Barrick has conducted initial phases of field mapping, soil sampling and ground geophysics;
Work to date is delineating drill-worthy targets in this emerging area of the project, with additional detailed groundwork anticipated in the months ahead;
An initial phase of drilling within Pueblo
Grande Sur is expected to commence during H1 2024
See accompanying property map figure for location details.
Figure 1: Pueblo Grande Location Map
To date, Barrick has drilled approximately 800 metres in two holes in the Pueblo
In accordance with the Earn-in Agreement between Precipitate and Barrick, as announced
The Company’s website has additional information, maps and figures of recent and historical Pueblo Grande project data.
For reference: g/t = grams per tonne, Au = gold, m = metres, millivolts per volt = mv/v, IP = induced polarization
This news release has been reviewed by
About
Additional information can be viewed at the Company’s website www.precipitategold.com.
On Behalf of the Board of Directors of
“Jeffrey Wilson”
President & CEO
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com
Neither the
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 expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words 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 achieved. 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-looking information is subject to known and unknown risks, 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 all; 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 environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilledlabouror loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, 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.
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