Turquoise Ridge
The Turquoise Ridge property is located in the Potosi Mining District, about 70 kilometres northeast of Winnemucca, Nevada, on the eastern flank of the Osgood Mountains. Barrick owns a 75% interest and is the operator; Newmont owns the remaining 25%.
Turquoise Ridge consists of two underground mines – the Turquoise Ridge and Getchell mines. Mining at Turquoise Ridge uses underhand cut-and-fill mining methods due to the relatively low rock quality in the ore zones. The Getchell mine was placed on care and maintenance in early 2008. Ore is transported to Newmont’s Twin Creeks mill for processing. The refractory gold ore is treated using pressure oxidation technology and gold is recovered using conventional carbon-in-leach technology.
In 2008, the Company’s 75% share of Turquoise Ridge’s production totaled 124,000 ounces of gold at total cash costs of $515 per ounce1. Barrick’s share of proven and probable mineral reserves as of December 31, 2008 is estimated at 4.0 million ounces of gold2.