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Barrick Gold Makes New Discoveries in Nevada

Barrick Gold said that it had found two significant gold discoveries in the state of Nevada. The two discoveries are called Red Hill and Goldrush. They are located 6 km south east of the Cortez Hills mine and 24 km south east of the Pipeline mine. The largest gold producer in the world is now trying to rebuild its focus on gold even as it makes headway into copper mining.

With prices of gold spiralling upwards to new record prices it is hardly surprising that the company would be happy to locate some more of the shrinking gold resources in the world. Barrick Gold like numerous other gold producers is likely to capitalize on any new gold deposits discoveries it makes in the current economic situation.

The company has outlined two zones of gold mineralization based on the results of a wide spaced drilling exploration. The mineralization is spread over a 7 km long trend and is hosted in a carbonate unit. The majority of the mineralization intersected to date is refractory and occurs at depths between 150 and 500 meters. The new discoveries have tabular geometry and are geologically quite a lot like the Cortez Hill and Goldstrike mines owned by Barrick Gold.

Rob Krcmarov, Senior Vice President of Exploration at Barrick Gold said the exploration team was able to draw on deep knowledge and expertise of Carlin-style systems to identify the concealed Red Hill and Goldrush deposits. He added that the mineralization in both deposits remains open in multiple directions. They had more work to do, but these discoveries have the potential to become truly world-class deposits.

Aaron Regent, President and Chief Executive Officer said that these two discoveries highlight the potential value and opportunities that can be created through a well structured and disciplined exploration program. He added that the long-term commitment to exploration and their team's expertise and knowledge had been instrumental in enabling Barrick to grow its reserves and resources on a consistent basis and put in place new development options for the Company.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

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