The mining industry in Vancouver, B.C. is buzzing with excitement as Barrick Gold Corporation provides a promising exploration update on Precipitate Gold Corp.’s Pueblo Grande Project. As part of an earn-in agreement, Barrick has the right to earn a 70% interest in the Project.
In the Pueblo Grande Norte Zone, Barrick is conducting a ground magnetic survey to refine drill targets. Recent drilling in the area has revealed encouraging lithologies with high-sulfidation type alteration, reminiscent of the neighboring Pueblo Viejo Mine.
In the Pueblo Grande Sur Zone, Barrick has identified new gold-in-soil anomalies through soil sample laboratory data. These anomalies are often associated with important pathfinders like silver, arsenic, and antimony. The largest soil anomaly measures about 2.8km x 1.0km and is open to the west, trending towards Barrick’s Zambrana exploration target.
Jeffrey Wilson, Precipitate’s President and CEO, expressed his pleasure at Barrick’s continued exploration efforts in the Pueblo Grande project. With ongoing target refinement and potential drill-worthy zones emerging, the project shows great potential for discovery and expansion.
Under the terms of the Earn-In Agreement, Barrick aims to incur a minimum of US$10.0 million in qualifying Work Expenditures and deliver a qualifying pre-feasibility study by the sixth anniversary of the agreement. Exciting times lie ahead for Precipitate Gold Corp. and Barrick as they work towards unlocking the full potential of the Pueblo Grande Project.
