Precipitate Gold Corp. (TSXV:PRG) has staked additional mineral concessions within the Dominican Republic’s Tireo gold belt. The company has therefore acquired an estimated total of 3,114 hectares, increasing the company’s landholding in the Tireo Gold camp by roughly 40%.
According to the company’s press release:
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.
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.