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Precipitate contracts ex-Pueblo Viejo geologist

Precipitate Gold (TSXV: PRG) has again tapped into local knowledge, contracting former Pueblo Viejo chief geologist Darren O'Brien as it prepares to drill its neighbouring Pueblo Grande project in the Dominican Republic.
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Ground preparations at Precipitate Gold’s Pueblo Grande project in the Dominican Republic

Staff reporter

The company raised C$1.3 million (US$1 million) last month at 13c per unit for drilling at the Loma Cuaba lithocap zone of Pueblo Grande, which it describes as adjacent to the world-class, Barrick Gold-run Pueblo Viejo gold-silver mine.  

It said it had engaged O'Brien to provide a project geology review and assist with the selection of drill collar locations and orientations.

"Access to this level of expertise in this stage of preparation is a vital tool in finalising the drill plan," president and CEO Jeffrey Wilson said.

Precipitate had appointed Pueblo Viejo's former president and executive director Mejico Angeles-Lithgow as an advisor and consultant in November last year.
 
Field crews had completed clearing and were continuing with drill site preparations ahead of the permitted drilling programme, Precipitate said.

The junior acquired 100% of Pueblo Grande and the Ponton project, 30km to the east, from Everton Resources in January.

Pueblo Viejo is owned 60% by Barrick and 40% by Newmont Goldcorp and is forecast to produce 550,000-600,000 ounces for Barrick this year.

Precipitate shares closed up 6.7% to C16c, 1c shy of a one-year high reached in September, capitalising it at $15.7 million (US$11.9 million).