NGM Investing In Additional Drilling Programs And Development

TORONTO - Nevada Gold Mines (NGM) reported that 2021 and 2022 are years of investment in the future of NGM, with additional drilling programs and development underway to increase orebody knowledge and test exploration upside. Areas with strong resource expansion potential include North Leeville, Rita K and Ren at Carlin, the corridor between the legacy Turquoise Ridge and Twin Creeks properties, the Fourmile and Goldrush projects, and the land between Pipeline and Robertson at Cortez.

Notably at Barrick’s 100%-owned Fourmile project, the deposit remains open in multiple directions and underground development could provide drill platforms as soon as 2023. Evaluation is ongoing to potentially accelerate first gold pour from Fourmile within our Life of Mine plans.

At Donlin, drilling in 2021 will focus on confirming our understanding of target mineralized zones and the assumptions in our updated geological model.

NGM is the single largest gold mining complex in the world and anchors the production from this region. Barrick operates and owns 61.5% of this joint venture, which includes three of the company’s Tier One assets — Carlin, Cortez and Turquoise Ridge. In 2020, attributable gold production from NGM was 2.1 million ounces.

The development of the Goldrush project and a third shaft at Turquoise Ridge continues to advance on schedule and within budget. Together with Barrick’s Fourmile project, these growth initiatives will secure the Tier One status of Cortez and Turquoise Ridge well into the future.

Nevada Gold Mines is a joint venture between Barrick (61.5%) and Newmont (38.5%) that combined our significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world.