Interview with Jeffrey Wilson, President & CEO of Precipitate Gold Corp. (TSX-V:PRG)
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Precipitate Gold Corp. is yet another gold mining story looking to take its place in the gold bull environment. Precipitate Gold is a gold developer that owns 3 gold assets in the Dominican Republic: the flagship Pueblo Grande gold project, the early-stage Ponton gold project and the parked Juan de Herrera gold project.
What is the latest news? The ground magnetics geophysical survey conducted at the Copey Hill epithermal gold target of the 100%-owned Ponton Project has reported highlight values of 53g/t gold and 17g/t gold. In general, this project could have some good geological potential. Ponton's tenement measures 3,250 ha and it is excitingly situated just 35km east of Barrick's 'world-class' Pueblo Viejo mine and 20km east of Pueblo Grande Project. Investors should note that Pueblo Viejo is the largest active gold mining operation in Latin America and is one of the top 5 global gold assets. One couldn't really wish for better company. Things appear to be lining up nicely and the share price has been on the rise impressively.
It is clear than Precipitate Gold is trying to leverage the under-explored, highly-prospective nature of Dominican geology to develop Ponton into a de-risked, district-scale gold resource before selling it to a mid-tier/major gold mining company.
Having reached an agreement with Barrick Gold this year, Precipitate Gold has sufficient capital to continue drilling at Ponton whilst developing the 9,863 ha Pueblo Grande land package. Work includes selective surface geochemical sampling, systematic rock-clay alteration surveying (via portable spectral mineral analysers), geological mapping and, most importantly, an initial 2,500 metres of exploration drilling.
Precipitate Gold has recently signed an agreement with gold giant Barrick Gold Corp. for Pueblo Grande: a $10M earn-in agreement for 70% interest. Precipitate Gold has US$2.3M of cash to conduct its drill programme alongside Barrick at Pueblo Grande, while keeping Ponton as the second priority. Juan de Herrera still has regional licensing issues and sits on the backburner.
- Company Overview
- Mining in the Dominican Republic: Change of Government Beneficial to Companies?
- Progress & Potential: The Business Plan
- Financing it All: Options Available
- Progress with Pueblo Grande: Deal with Barrick Gold & Terms
- Ponton Project: Challenges and Progress
- Cash Position, Allocation and Debts
- Acquisition of Equipment: How are They Sharing with Barrick?
- Bull Market's Impact on Timeline, Strategy, & Raises
Company Page: https://www.precipitategold.com/
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