PRG.V Precipitate Increases Dominican Republic Landholding by Staking Additional Ground in the Tireo Gold Belt
The new concession applications, totalling approximately 3,114 hectares, increase Precipitate's total landholding in the Tireo Gold Camp by approximately 40%, and extend the Company's land position 12 kilometres to the northwest along the prospective Tireo formation. The northern extension of Precipitate's new concession coverage runs immediately adjacent to the western boundary of GoldQuest Mining Corp's Las Tres Palmas property and is within four kilometres of GoldQuest's Romero, Romero South, and Guama discoveries. Other new Precipitate concession applications include areas of Tireo exposures located on the east side of GoldQuest's holdings, south of GoldQuest's Jengibre showing and west of Precipitate's Melchor discovery. See the accompanying map (media3.marketwire.com) for detailed concession locations and geometry, or visit the Company's website ( www.precipitategold.com).
Jeffrey Wilson, Precipitate's President & CEO stated, "We're pleased to have secured these new concessions as they increase the amount of prospective ground now held by the Company, including ground that until very recently was held by another applicant and not available for acquisition. Our work in the region over the past 2 years has increased our understanding of the Tireo's geology, so we were swift in submitting our applications when this ground became available. Given the success achieved to date with a modest exploration budget at our Juan de Herrera project, we're pleased to have several kilometres of additional Tireo belt exposures to explore. Additionally, with the recent appointment of the country's first Minister of Mines and Energy, we expect to see acceleration in the concession approval and exploration permitting process going forward."
Precipitate is continuing preparations for a first phase drill program at the Ginger Ridge Zone of the Company's Juan de Herrera project in the Tireo belt. Details of the program will be announced as plans are finalized. |
