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Exploration & Projects
Barrick has a demonstrated track record of creating value through exploration.
Projects

We have one of the deepest project pipelines in the gold industry, including brownfield projects near existing operations, greenfield exploration discoveries and some of the largest undeveloped gold deposits in the world, providing significant optionality and leverage to gold prices.

Turquoise Ridge

Construction of a third shaft continues to advance.

Turquoise Ridge

Nevada, U.S.A.
Nevada Gold Mines (61.5% Barrick / 38.5% Newmont Goldcorp)

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Construction of the third shaft at Turquoise Ridge, which has a hoisting capacity of 5,500 tonnes per day, continues to advance according to schedule and within budget, with efforts in 2019 focused on surface civil works and shaft sinking.

Shaft pre-sink was completed after reaching a depth of 63 meters out of a total planned depth of 1,052 meters as measured by the depth of concrete liner below collar.

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Cortez Deep South

Expand mining into the Deep South area below currently permitted levels of the Cortez Hills underground mine, bringing forward production.

Cortez Deep South

Nevada, U.S.A.
Nevada Gold Mines (61.5% Barrick / 38.5% Newmont Goldcorp)

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Under the current Life of Mine plan, the Deep South project starts to contribute to Cortez production from 2020.

The draft Environmental Impact Statement for the project was published in late October 2018, and the public comment period concluded in December 2018.

Deep South will utilize infrastructure which has already been approved under current plans to expand mining in the Lower Zone of the Cortez underground mine, including the new Rangefront twin declines, and other underground infrastructure already in use and under construction.

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Goldrush

Development of an underground mine at Goldrush.

Goldrush

Nevada, U.S.A.
Nevada Gold Mines (61.5% Barrick / 38.5% Newmont Goldcorp)

Construction of twin exploration declines at Goldrush continued in the second quarter of 2019, and each decline has now advanced approximately 1,200 meters of the planned 4,000 meters.

These declines will provide access to the ore body, allowing for further drilling, and the potential conversion of existing resources to reserves. The exploration declines can be converted to production declines in the future, subject to further permitting.

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Greenfield
Projects
Massawa

The Massawa project continues to be advanced and work is ongoing to bring this asset to account.

Massawa

Senegal
(83.25% Barrick)

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The feasibility study of a Massawa standalone operation was completed in the fourth quarter of 2018 and, subsequent to the original feasibility model, an update of reserve pricing to $1,200/oz resulted in a total Probable Mineral Reserve of 20.9Mt @ 3.94g/t for 2.6Moz as at December 31, 2018 (100% basis), with lower strip ratios and higher proportions of low cost ore fed to the plant, relative to the $1,000/oz Mineral Reserve.

At this time, the project does not currently pass the Company's investment hurdles. Work continues to bring this asset to account, including additional exploration work, while the application for the exploitation permit to develop the project has been submitted and engagement with the government of Senegal has commenced.

Technical Report

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Donlin Gold

The project represents one of the world’s largest undeveloped gold deposits, at an advanced stage of permitting in a stable jurisdiction, underscoring its unique potential.

Donlin Gold

Alaska, U.S.A.
(50% Barrick / 50% NOVAGOLD)

Donlin Gold, located in Alaska, contains 39.0 million ounces of measured and indicated gold resources (Barrick 50% equity 19.5 million ounces1). A federally permitted project, Donlin Gold is one of the largest, undeveloped open pit gold deposits in the world. With key permitting activities largely advanced, the current focus is on integrating scoping-level optimization work into a study that will form the basis for an updated project development plan. The Donlin team is continuing its work, in collaboration with Barrick and NOVAGOLD, with a strong focus on furthering our geological understanding, engineering optimization, environmental stewardship and safety.

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Norte Abierto

The joint venture is now advancing an optimized project design.

Norte Abierto

Atacama Region, Chile
(50% Barrick / 50% Newmont Goldcorp)

Norte Abierto, our joint venture with Newmont Goldcorp in Chile, contains 11.6 million ounces1 of proven and probable gold reserves, and 13.3 million ounces1 of measured and indicated gold resources (Barrick’s 50 percent share). The joint venture is now advancing an optimized project design.

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Pascua-Lama

Located on the border between Argentina and Chile, Pascua-Lama contains 21.3 million ounces of measured and indicated gold resources.1

Pascua-Lama

San Juan Province, Argentina / Atacama Region, Chile

Pascua-Lama, located on the border between Argentina and Chile, Pascua-Lama contains 21.3 million ounces1 of measured and indicated gold resources. Barrick has been studying the optimization of the Pascua-Lama project. Barrick will continue to evaluate opportunities to de-risk the project while maintaining Pascua-Lama as an option for development in the future if economics improve, and related risks can be mitigated.

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  1. Estimated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2018, unless otherwise noted. Complete mineral reserve and mineral resource data for all mines and projects referenced in this presentation, including tonnes, grades, and ounces, can be found on pages 33-45 of Barrick’s Annual Information Form for the year ended December 31, 2018.