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Barrick announces 2 major new gold discoveries at Cortez properties

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User ID: 1376880
United Kingdom
09/08/2011 01:32 PM
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Barrick announces 2 major new gold discoveries at Cortez properties
Barrick officials are excited over the prospect of two potential world class gold discoveries on their own property, located alongside several of their major Nevada operations.

Barrick's annual investor day presentation Thursday presented wonderful news concerning one of the most significant deposits the company has ever discovered, and not so terrific news about a significant increase in the development cost of the Donlin Creek joint venture with NovaGold in Alaska.

Rob Krcmarov, Barrick senior vice president for global exploration, could hardly contain his excitement regarding two new gold discoveries on the company's Cortez property in Nevada, the Red Hill and Goldrush deposits.

The new discoveries are located in the Battle Mountain/Eureka gold trend, which has a long discovery history dotted with world class mines, including Cortez, Cortez Hill, Pipeline, Hilltop, Horse Canyon and Gold Acres. The newest discoveries are near the now defunct Horse Canyon operation in a system, which Krcmarov noted, is laterally open in all directions.

[link to www.mineweb.com]