Barrick Gold ends Pueblo Grande offtake deal

Sánchez Ramírez.- Barrick Gold Corporation has completed its drilling program and decided to terminate its exploration rights on Precipitate Gold Corp’s Pueblo Grande project in the Dominican Republic. The decision follows final analytical results from the latest drilling phase, which did not yield significant gold mineralization. As a result, Barrick has issued a 30-day written notice to end its purchase agreement for a 70% interest in the project, located adjacent to the Pueblo Viejo mine.

Precipitate Gold confirmed that once the notice period expires, all obligations under the agreement will cease, except for specific provisions outlined in the contract. Barrick’s extensive exploration activities—spanning surface mapping, geochemical sampling, geophysical surveying, and drilling in both the Pueblo Grande North and South zones—did not support its geological expectations for continued investment.

Despite this setback, Barrick remains focused on expanding its resource base through exploration. The company continues to seek new targets and projects that align with its long-term strategy of extending mine life and enhancing production through organic growth.