From GlobeNewswire: 2024-11-22 07:00:00

Barrick Gold Corporation announced a significant increase in mineral resources at its Fourmile project in Nevada, with indicated resources up 192% and inferred resources up 137% compared to 2023. The project’s grade also increased by 35%. The company added 25 new drill holes to the 2023 estimate.

Speaking at an investor event, Barrick’s CEO highlighted Fourmile as a world-class asset comparable to the original Goldstrike deposit. He emphasized the company’s strategy of investing in organic growth through exploration. Since 2019, Barrick has added over 19Moz of mineral reserves at Nevada Gold Mines.

The updated mineral resource estimate for Fourmile covers only one-third of the orebody defined by drilling. A preliminary economic assessment showed potential for Fourmile to generate over 70% higher annual operating cash flows than the Goldrush project. A prefeasibility study is planned for 2025 to further define resources and reserves.

Proven and probable reserve gains at Nevada Gold Mines totaled 19Moz from 2019 to 2023. The estimates were calculated on a 100% basis and include acquisitions, divestments, and depletion. The figures reflect Barrick’s commitment to sustainable growth and value creation through exploration and resource management.



Read more at GlobeNewswire: Barrick’s Fourmile Project Shows Further World-Class