Fourmile gold project, US – update
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Name of the Project
Fourmile gold project.
Location
Nevada, US.
Project Owner/s
Gold mining company Barrick Mining Corporation.
Project Description
Barrick has reported Fourmile as a “rare combination of grade, scale and exploration upside, confirming its potential to become one of the world’s leading gold producers”.
The preliminary economic assessment (PEA) outlines the potential to achieve globally significant average gold production of between 600 000 oz/y and 750 000 oz/y at low mining rates of 1.5-million to 1.8-million tonnes a year of ore.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
The PEA estimates capital expenditure of between $1.5-billion and $1.7-billion.
Planned Start/End Date
Not stated.
Latest Developments
Underground mining services group Barminco has secured a A$275-million contract to provide underground mining services.
The contract will span 45 months, with work expected to start in July.
Barminco will start development of Fourmile's twin Bullion Hill portals as part of 16 km of planned underground development while providing ground support, surface facilities and associated mining services.
Key Contracts, Suppliers and Consultants
None disclosed.
Contact Details for Project Information
Barrick Mining Corporation, tel +1 416 682 3860 or email investor@barrick.com.
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