Fourmile team members with core samples: Stephanie Mills, Paul Dobak, Kendle Fraley, Keith Testerman, Robert Wilson, and Johnny Muir.
Momentum continues
With the positive result from hole 427 in hand, the Fourmile drilling program continued. A series of new holes was sunk 300 meters to the north and south of hole 427, an activity known as wide-space drilling.
“In simple terms, we’ve got a fish on a hook, hole 427,” says Kevin Creel, Vice President, North American Discoveries. “Now we’re casting the net to try to see if there’s a school of fish in the area and how big it might be.”
In 2016, eight holes were drilled to depths of more than 900 meters, deeper than Barrick typically drills in Nevada. Two of those holes returned samples with high-grade gold mineralization. Last year, eight more holes were drilled with six returning high-grade gold mineralization.
As drilling progressed, the project team continued detailed mapping of the surface, interpreted the geology, and created 3-D models of subsurface rock formations. “You start with a blank slate and you slowly paint a picture that helps determine the potential scope of the deposit and where to drill next,” Richter says.
In June, drill results hit another geyser so to speak. The hole in question, hole 18-01, which is located about 120 meters from hole 427, intersected even higher-grade mineralization than hole 427. Testerman, Richter, and Creel are all highly-experienced geologists who rarely betray their emotions. Yet, even as they preach caution, noting that it’s still early days for Fourmile, their enthusiasm sometimes bubbles to the surface, like when they talk about hole 18-01.
“It was just like, ‘yes!’” Richter says. “This is what we’re looking for.”
In July, during its second-quarter conference call, Barrick confirmed that Fourmile is now considered a high-grade discovery with a footprint more than 600 meters long by 200 meters wide and growing. More positive results were announced in the Company’s recently completed third quarter
Based on this success, Barrick increased the budget for the Fourmile project by more than $10 million, allowing for a significant increase in drilling activity. The Company expects to drill 47 holes by year end, and it also expects to provide an ‘initial modest inferred resource’ for the deposit at that time. An inferred resource is a preliminary estimate of the total number of ounces in areas drilled to date. As drilling continues, in-depth studies will be conducted to confidently determine the size of the deposit.
Keith Testerman, Nancy Richter, and Kevin Creel.
A bright future in Nevada
At this stage, it is too early to answer questions such as whether Fourmile and Goldrush could eventually be mined together, says George Fennemore, Manager of Growth for Barrick Nevada. However, what is clear is that Fourmile is a potential world-class deposit that enhances Barrick’s already compelling growth story in a attractive mining jurisdiction where Barrick has extensive infrastructure, experience, and deep partnerships. That story will, Fennemore acknowledges, take time to play out and rely on sound execution as Barrick works to secure permits, obtain water rights, build infrastructure, preserve habitats, and ensure the sustainable benefits are shared by all.
“We have a really fascinating story in terms of what the future of Barrick Nevada looks like,” Fennemore says. “We’re not gold limited. We’re only limited by our ability to make good plans and get the work done.”