Midday Tuesday, Precipitate’s stock was up 13% on the TSXV
Barrick’s recent exploration update indicates that preparatory work conducted in advance of drilling included detailed surface geological mapping and geo-stratigraphic modelling in relation to the Pueblo Viejo mine, re-logging historical drill core from 24 previously drilled holes (9,264m) with complementary short wave infrared (SWIR) spectroscope readings, drill site preparation and securing various agreements and approvals including the modification of the Dominican Government drill permit.
On April, Precipitate announced a definitive earn-in agreement with Barrick whereby Barrick has the right to earn a 70% interest in the project. To earn its interest, Barrick must incur a minimum of $10 million in exploration expenditures and deliver a qualifying Pre-feasibility Study prior to the sixth anniversary of the agreement.
Midday Tuesday, Precipitate’s stock was up 13% on the TSXV. The company has a C$22.8 million market capitalization.
