Local June 20, 2024 | 1:54 pm

Mining: vote of confidence in Dominican authorities

Santo Domingo.- The Ministry of Energy and Mines (MEM) hailed the work of the Canadian company Precipitate Gold Corporation in Pueblo Grande as a testament to the trust in Dominican authorities. The company’s efforts have led to the discovery of new gold anomalies near the Pueblo Viejo deposits in Cotuí, Sánchez Ramírez province.

Minister Antonio Almonte praised Precipitate Gold Corporation for its promising results, which provide a foundation for the next phase of drilling with the support of Barrick Gold Pueblo Viejo. The two companies have a longstanding agreement to collaborate on these projects.

“Geochemical anomalies indicate the presence of precious metals like gold. The government and the Ministry are closely monitoring these activities to ensure they comply with environmental standards. If exploitation becomes viable, it will benefit the country and local communities,” stated Minister Almonte.

Almonte highlighted the cooperation between the Vice Ministry of Mines’ technicians and the Canadian mining company, which has expressed satisfaction with the progress to both its headquarters in Vancouver, Canada, and Dominican authorities.

Precipitate Gold Corp. announced that detailed studies conducted in the southern area of Pueblo Grande during the first quarter of this year revealed early-stage gold anomalies in the western and central parts of the project.

“These gold anomalies often coincide with significant traces of silver, arsenic, antimony, and thallium,” the company noted in a statement available on its official website.

The statement also detailed the collaboration agreement with Barrick Gold, which grants Barrick the right to acquire a 70% stake in the project. “Barrick’s ongoing 2024 exploration work at Pueblo Grande Sur aims to refine potential drilling targets in this emerging area of the project,” the company said, noting that it is awaiting drilling permits for later this year.

Additional information, maps, and figures on the Pueblo Grande project, as well as details of the agreement with Barrick Pueblo Viejo dated April 14, 2020, are available on the company’s website.

Precipitate Gold Corp. specializes in exploring and advancing its mineral property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend in southern Dominican Republic.

What is a Geochemical Anomaly?

A geochemical anomaly refers to a deviation from the normal geochemical distribution in a given area or environment. Mineral deposits, as rare and anomalous phenomena, are themselves geochemical anomalies. The geochemical patterns associated with the formation or erosion of these deposits are also considered anomalies.

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Paul Tierney
June 21, 2024 8:48 am

Deep pockets can influence trust.

June 21, 2024 6:46 pm

This mine provided much needed revenue during the pandemic when tourism was low. Expanding it to diversify the economy further is a good thing for the entire country.