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Emphasizing this point here today, Mark Bristow, president and chief executive of operator and majority shareholder Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX), said operational highlights of the past year included a record production by the post-merger Cortez and the continuing turnaround at Turquoise Ridge, which is beginning to live up to its Tier One 1 Status again The biggest development was, however, the completion of Goldrush permits at the end 2023. Cortez could now accelerate the development of an important project, which will contribute to production this year.
Bristow said Northern Nevada, far from being a gold district that is mature, was still highly prospective for new discoveries of world-class. Barrick’s Fourmile, which is owned by Barrick, will, for example more than triple its current 0.48 million-ounce mineral resource. 2 At 10.04 g/t, 2.7 million ounces are added to the indicated 10.04 g/t 2 The orebody model and evaluation will continue, with the aim of launching a pre-feasibility at the end 2024. In the meantime, brownfields has provided an exciting pipeline of near mine growth opportunities in Carlin, Cortez, Turquoise Ridge.
Bristow said that the complex has a growth profile in production that extends well beyond 10 years, as geologists replace the ounces mined.
NGM, in line with Barrick’s transition to renewable energies, completed the first 100-megawatt phase of its project in 2023. The second 100-megawatt is scheduled to come online in the second half this year.
NGM continues to invest in the development of a new generation to enter the mining industry. In the last year, 270 people were enrolled in the training mine. 95% of them graduated. 84 % of these people are now employed at NGM.
NGM invested $4.5M to establish three children’s centers in its communities that are aligned with their mining schedules. This was done to address the shortage of childcare in the area around its mines. The inclusion of childcare benefits in a male-dominated and aging industry is expected to attract women and younger employees. Its latest social infrastructure project is a $10-million recreation center, based upon the principle that a healthy community will produce a healthy workforce.
Nevada Gold Mines
Nevada Gold Mines, operated by Barrick Gold Corporation(NYSE:GOLD) (TSX:ABX), is a joint-venture between Barrick (61.5%) & Newmont (38.5%) who combined their significant assets in Nevada in 2019 to form the largest gold-producing complex on the planet.
Barrick COO North America
+1 865 209 0781
NGM Executive Director Managing Director
+1 775 934 3238
Barrick Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
The scientific and technical information contained in this press release has been reviewed and approved by: Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resource Management and Evaluation Executive; and Craig Fiddes, SME-RM, Lead – Resource Modeling, Nevada Gold Mines — each a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects .
Tier One Gold Assets are assets with a $1300/oz reserve, with the potential to deliver at least a 10-year life and a production of at minimum 500,000 ounces per year of gold, with all-in-sustaining costs per ounce that are in the lower half on the industry cost curve.
Estimated in accordance to National Instrument 43-10 – Standards of Disclosure for Mineral Projects As required by Canadian securities regulators. Estimates are based on December 31, 2023 unless otherwise stated. In In Mineral Bar Bar
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