Barrick / Precipitate announce advances in new gold development

Dolores

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Feb 20, 2019
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Barrick/ Precipitate announce advances are made in the gold mining project known as Pueblo Grande project, an extension of Barrick Pueblo Viejo operations.

The companies report that the latest drilling has encountered likely sources of mining findings similar to observations of the gold-rich neighboring Pueblo Viejo mine. Soil sample laboratory data received to date reveals several new early-stage gold-in-soil anomalies located on west and central parts of Pueblo Grande Sur.

It is anticipated that results from the latest drilling combined with newly generated geophysical data will provide the basis for delineating specific targets for a potential next phase of diamond drilling in Pueblo Grande Norte.

The drilling is taking place after the Ministry of Energy and Mines authorized the construction of a second tailings storage facility in the province of Sanchez Ramirez where the...

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MoJoInDR

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Aug 23, 2023
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Watch out... Gold rush... Dere's gold in dem der mou'tains.

I guess it's akin to... Call a place paradise and you can kiss it goodbye.
 

Big

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Apr 24, 2019
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The mine has another 40 years of life. As technically changes it has become cheaper to squeeze the gold and silver out of the ore.
 

Ecoman1949

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Oct 17, 2015
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Okay... But people can change their minds regarding how they view things.
They can if the companies make a more concerted effort to limit their environmental impacts and the government actually enforces their environmental regulations. That rarely happens in the DR. The Environmental Assessment for the Maimon cruise ship port was done under the previous administration and it was lacking in scope and public consultation. The government decided the project was going ahead regardless of the environmental impacts and the public protests.

As Bob posted, Barrick Resources had a poor environmental track record in the DR and elsewhere. They are better now in the DR because of pressure to clean up from the locals who live in the areas adjacent to the mining sites. The mining processing waste lagoons contain sediment laced with heavy metals including cyanide. Overflows and breaches over the years resulted in the release of the sediment to local river systems. Barrick does a much better job of controlling their lagoon effluent.

Barrick Resources, a Canadian registered company and it‘s foreign operations must comply with Canadian law and the laws of the countries where they operate. That includes corrupt business practices like bribery. The previous DR administration issued an ultimatum to Barrick years ago. Increase our royalty revenue or we nationalize you. Barrick complied and also improved their management practices to control their environmental impacts.

As you mentioned, it can result in paradise lost. A gold rush can cause major environmental impacts and piracy, if not properly regulated and monitored. That’s what happening in French Guyana now. It’s a world hotspot for gold mining and the French Foreign Legion has a force there constantly searching for pirate gold mining operations in the dense jungle areas. Armed resistance is a constant threat. I don’t think pirate gold mining is a big problem in the DR.
 
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