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Barrick Gold Corp.
Summary
| Project: | Massawa | |
|---|---|---|
| Deposit: | Massawa | |
| Location: | Senegal | |
| Commodities: | Gold | |
| Date: | 7/23/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-7-2019: Barrick Gold Corp. announces a Feasibility Study report for its Massawa deposit at the Massawa project. Feasibility study results incl. post-tax NPV (0%) of $258M, IRR of 12%. The Massawa Gold Project (Massawa or the Project), located in Senega | |
| Resources: | (Reserve, Prob.): 18Mt @ 4.17g/t Au | |
| CP/QP: | [Resources]: Simon Bottoms (Internal) | |
| ABSTRACT: | The Massawa Gold Project (Massawa or the Project), located in Senegal, was discovered by Randgold Resources Limited (Randgold), an exploration and mining company that explored, developed, and operated mines in West and East Africa. On 24th September 2018, Barrick Gold Corporation (Barrick) agreed to merge with Randgold in a zero premium, share-for-share deal. The merger was completed on the 1st January 2019 and resulted in Randgold becoming a wholly-owned subsidiary of Barrick and delisting from the London Stock Exchange and NASDAQ. Randgold is now part of the Barrick group which is listed on the Toronto and New York stock exchanges, and is one of the largest gold mining and exploration companies in the world. Randgold continues to be the owner of the Massawa Permit. On 22nd January 2019, Randgold changed its name to Barrick Gold (Holdings) Limited. This Technical Report conforms to National Instrument 43-101 Standards for Disclosure of Mineral Projects (NI 43-101) and has been prepared to support the 2018 year-end Mineral Resource and Ore Reserve estimation at Massawa based on feasibility level studies. Recent targeted project development work programmes, including resource drilling and metallurgical testwork in 2017 and 2018, have made a material impact on the understanding of the mineralised bodies and potential of the Project to provide significant economic returns at a range of gold prices. All currency in this report is US dollars ($) unless otherwise noted. | |
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