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Barrick Gold Corp.
Summary
| Project: | Cortez | |
|---|---|---|
| Deposit: | Fourmile | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 9/17/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 17-9-2019: Barrick Gold Corp. announces an Exploration/Drilling Update report for its Fourmile deposit at the Cortez project. Drilling results incl. 10.7m @ 24.8g/t Au from 1279.8m. DENVER, Colorado— September 17, 2019 —Barrick Gold Corporation (NYSE:GOLD | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Rob Krcmarov (Internal) | |
| ABSTRACT: | DENVER, Colorado— September 17, 2019 —Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today reported a new discovery hole about 2 kilometers from the best ever drilling intercept at its Fourmile project in Nevada and said this pointed to the delivery of at least one more Tier 1 gold mine through the combination of Fourmile with the nearby Goldrush development project. Barrick did not include Fourmile in the recent combination of its Nevada assets with those of Newmont Goldcorp to create the Nevada Gold Mines joint venture, but has the right to bring it into the joint venture for full market value provided certain agreed investment criteria are met. Speaking at the Denver Gold Forum Americas, Barrick president and chief executive Mark Bristow said diligent exploration and detailed geological modelling had led to effective targeting at Fourmile. The intercept (FM19-11DW14) is of a new orebody a kilometer north of Fourmile. It increases the strike length of the mineralized Goldrush-Fourmile trend to greater than 6 kilometres. Mineralization is open in all directions and significant resource growth is expected from continuing the step-out drilling programme. “Discovery is fundamental to value creation and the latest results from Fourmile confirm the potential for further high-value discoveries in the greater Cortez – Carlin region which has been a prolific source of gold discovery and production for 150 years, and still holds an untapped wealth of geological endowment,” Bristow said. Reporting on Barrick’s performance since the merger with Randgold at the beginning of the year, Bristow said the business was generating significantly higher profits and free cash flows. The business was well supported by six profitable Tier 1 assets with tangible prospects for future value creation, and Barrick now boasts one of the strongest balance sheets among its industry peers. | |
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