The Goldrush discovery is located approximately 6 kilometers from our Cortez mine in Nevada. Drilling in 2012 doubled and upgraded the resource base. The measured and indicated resource of 8.4 million ounces as of December 31, 2012, represents a more than 500% increase from 2011. Additionally, there are 5.7 million ounces in the inferred category. The footprint of the deposit has more than doubled to greater than seven kilometers, and the system remains open in multiple directions. The greater Cortez area contains substantial district-scale opportunities.
As this project advances through prefeasibility, a number of development options are being considered, including open pit mining, underground mining, or a combination of both. Drilling is currently focused on establishing confidence in the continuity of high grade portions of the deposit in support of the underground development option. These trade-off studies will provide a better understanding of the potential of this quality asset and the economic drivers for development, which will form the basis of the prefeasibility study. The overall project schedule remains on track.
This district is a cornerstone of Barrick’s current and future success and is located in a mining area well provided with significant infrastructure and expertise.