Barrick boosts resource estimate for 'world-class' Fourmile project in Nevada

seekingalpha11-23 02:12

Oat_Phawat/iStock via Getty Images Barrick Gold (NYSE:GOLD) shares bounce between small gains and losses Friday after providing an updated mineral resource estimate for its Fourmile project in Nevada,...

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The Fourmile deposit now comprises 1.4M oz of gold grading 11.76 g/ton in the indicated category and 6.4M oz of gold grading 14.1 g/ton in the inferred category, up 192% and 137% on the respective categories shown in Barrick's (GOLD) 2023 year-end resource estimate; also, Fourmile's gold grade was 35% higher. Barrick (GOLD) said the higher resource estimates reflect the addition of 25 new drill holes to the 2023 mineral resource estimate across the southernmost portion of the orebody, immediately adjacent to the Goldrush project at Cortez which is part of the Nevada Gold Mines joint venture with Newmont. The Fourmile mineral resource update covers only about a third of the overall orebody as defined by drilling to date, according to mineral resource management and evaluation executive Simon Bottoms.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485229290"}