Precipitate Receives US$5.0M Cash and 3% NSR from Barrick for Relinquishing Non-Core Areas of Pueblo Grande Project in Amendment to Ongoing Exploration Earn-In Agreement
Retrieved on:
Friday, May 13, 2022
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Importantly, in management's assessment, the Subject Areas exhibit limited exploration potential with a low probability of hosting mineable mineralization.
Key Points:
- Importantly, in management's assessment, the Subject Areas exhibit limited exploration potential with a low probability of hosting mineable mineralization.
- Barrick's continued involvement in the revised Pueblo Grande Project along with the exploration potential of the balance of the Company's property portfolio positions Precipitate for future project advancement and value creation."
- The cash consideration paid to Precipitate as part of the Amendment does not impact or reduce the exploration expenditure requirements under the Earn-in Agreement.
- All three of these areas exhibit prospective geological and geochemical attributes but have been subject to limited systematic exploration and/or drill testing.