Showcasing the world’s leading gold mining complex
September 19 2019 - 12:22PM
The new Nevada Gold Mines complex is hosting a group of analysts
for their first site visit since the formation of the Barrick /
Newmont Goldcorp joint venture at the beginning of July.
The complex represents the single largest gold
producing operation in the world and includes three Tier 1
mines. In an announcement earlier this week, Barrick reported
a new discovery hole4 about 2 kilometers from the best ever
drilling intercept at its Fourmile project in Nevada and said this
pointed to the potential for at least one more Tier 1 gold
mine through the combination of Fourmile with the nearby Goldrush
development project. Fourmile was not included in the recent
combination of Nevada assets but the company has the right to bring
it into the joint venture for fair market value provided certain
agreed investment criteria are met.
Barrick president and chief executive Mark
Bristow and Nevada Gold Mines executive managing director, Greg
Walker, welcomed the analysts to the operations. The benefits of
combining the assets and infrastructure in Northern Nevada will be
showcased in a presentation by the Nevada team to the visitors
today. A copy of the presentation is available on the Barrick
website at www.barrick.com.
The three day tour includes visits to the third
shaft and autoclave facility of the now combined Turquoise Ridge
and Twin Creeks, the Cortez Hills underground mine including Deep
South and processing facilities at Carlin.
Enquiries:
Mark BristowPresident and CEO+1 647 205 7694+44 788 071 1386 |
Graham ShuttleworthSenior Executive Vice-President and Chief
Financial Officer+1 647 262 2095 +44 779 771 1338 |
Kathy du PlessisInvestor and Media Relations+44 20 7557
7738barrick@dpapr.com |
Website: www.barrick.com
Technical
Information The scientific and technical
information contained in this press release has been reviewed and
approved for release by Rob Krcmarov, FAusIMM, Executive
Vice-President, Exploration and Growth, who is a
“Qualified Person” as defined in National Instrument 43-101 –
Standards of Disclosure for Mineral Projects.
Drill Results from FM19-11DW11 |
Core Drill Hole2 |
Azimuth |
Dip |
Interval (m) |
Width (m)3 |
Au (g/t) |
FM19-11DW14 |
18 |
-74 |
1208.2 - 1209.7 |
1.5 |
8 |
1238.1 - 1239.3 |
1.2 |
73.4 |
1279.8 - 1290.5 |
10.7 |
24.8 |
1304.2 - 1305.7 |
1.5 |
8.1 |
1319.5 - 1321.0 |
1.5 |
5 |
1343.8 - 1348.4 |
4.6 |
49.4 |
1351.5 - 1357.6 |
6.1 |
21.2 |
- All intercepts calculated using a 5
g/t Au cutoff and are uncapped; minimum intercept width is 0.8 m;
internal dilution is less than 20% total width
- Fourmile drill hole nomenclature: FM (Fourmile) followed by the
year (19 for 2019)
- True width of intercepts are uncertain at this stage
- Partial results received
The drilling results for the Fourmile property contained in this
press release have been prepared in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects.
All drill hole assay information has been manually reviewed and
approved by staff geologists and re-checked by the project manager.
Sample preparation and analyses are conducted by ALS Minerals, an
independent laboratory. Industry accepted best practices for
preparation and fire assaying procedures are utilized to determine
gold content. Procedures are employed to ensure security of
samples during their delivery from the drill rig to the laboratory.
The quality assurance procedures, data verification and assay
protocols used in connection with drilling and sampling on the
Fourmile property conform to industry accepted quality control
methods. For previously released significant intercepts at
Fourmile refer to Appendix B and Appendix F of the Nevada Gold
Mines Analyst Presentation, dated as of September 19, 2019,
available at www.Barrick.com.
Cautionary Statement on Forward-Looking
Information
Certain information contained or incorporated by
reference in this press release, including any information as to
our strategy, projects, plans or future financial or operating
performance, constitutes “forward-looking statements”. All
statements, other than statements of historical fact, are
forward-looking statements. The words “potential” “will”, “should”
and similar expressions identify forward-looking statements. In
particular, this press release contains forward-looking statements
including, without limitation, with respect to: potential
mineralization, including in respect of Fourmile; potential for
Goldrush/Fourmile to become a Tier One gold asset; and the expected
impact of the creation of Nevada Gold Mines, including potential
synergies.
Forward-looking statements are necessarily based
upon a number of estimates and assumptions including material
estimates and assumptions related to the factors set forth below
that, while considered reasonable by the Company as at the date of
this press release in light of management’s experience and
perception of current conditions and expected developments, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. Known and unknown
factors could cause actual results to differ materially from those
projected in the forward-looking statements and undue reliance
should not be placed on such statements and information. Such
factors include, but are not limited to: fluctuations in the spot
and forward price of gold, copper or certain other commodities
(such as silver, diesel fuel, natural gas and electricity); the
speculative nature of mineral exploration and development; changes
in mineral production performance, exploitation and exploration
successes; risks associated with projects in the early stages of
evaluation and for which additional engineering and other analysis
is required; the benefits expected from Nevada Gold Mines being
realized; diminishing quantities or grades of reserves; increased
costs, delays, suspensions and technical challenges associated with
the construction of capital projects; operating or technical
difficulties in connection with mining or development activities,
including geotechnical challenges and disruptions in the
maintenance or provision of required infrastructure and information
technology systems; failure to comply with environmental and health
and safety laws and regulations; non-renewal of key licenses by
governmental authorities; timing of receipt of, or failure to
comply with, necessary permits and approvals; uncertainty whether
some or all of Barrick's targeted investments and projects will
meet the Company’s capital allocation objectives and internal
hurdle rate;; changes in national and local government legislation,
taxation, controls or regulations and/or changes in the
administration of laws, policies and practices, expropriation or
nationalization of property and political or economic developments
in Canada, the United States and other jurisdictions in which the
Company or its affiliates do or may carry on business in the
future; damage to the Company’s reputation due to the actual or
perceived occurrence of any number of events, including negative
publicity with respect to the Company’s handling of environmental
matters or dealings with community groups, whether true or not; the
possibility that future exploration results will not be consistent
with the Company’s expectations; risks that exploration data may be
incomplete and considerable additional work may be required to
complete further evaluation, including but not limited to drilling,
engineering and socioeconomic studies and investment; risk of loss
due to acts of war, terrorism, sabotage and civil disturbances;
litigation and legal and administrative proceedings; contests over
title to properties, particularly title to undeveloped properties,
or over access to water, power and other required infrastructure;
business opportunities that may be presented to, or pursued by, the
Company; our ability to successfully integrate acquisitions or
complete divestitures; risks associated with working with partners
in jointly controlled assets; employee relations including loss of
key employees; increased costs and physical risks, including
extreme weather events and resource shortages, related to climate
change; and availability and increased costs associated with mining
inputs and labor. In addition, there are risks and hazards
associated with the business of mineral exploration, development
and mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and
gold bullion, copper cathode or gold or copper concentrate losses
(and the risk of inadequate insurance, or inability to obtain
insurance, to cover these risks).
Many of these uncertainties and contingencies
can affect our actual results and could cause actual results to
differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, us. Readers
are cautioned that forward-looking statements are not guarantees of
future performance. All of the forward-looking statements made in
this press release are qualified by these cautionary statements.
Specific reference is made to the most recent Form 40-F/Annual
Information Form on file with the SEC and Canadian provincial
securities regulatory authorities for a more detailed discussion of
some of the factors underlying forward-looking statements and the
risks that may affect Barrick’s ability to achieve the expectations
set forth in the forward-looking statements contained in this press
release. We disclaim any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
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