Barrick confirms results from drilling on Carlin property

Drilling on the North property, one mile north of Barrick’s immense Goldstrike development, has intersected 120 ft grading 0.463 oz gold per ton. An 800-ft step-out hole on the same trend intersected 540 ft grading 0.406 oz.

The results were remarkably close to the unconfirmed values reported by The Northern Miner on Oct 30. At that time, talk of another rich find sparked a buying binge in the shares of Barrick and Euro-Nevada Mining (TSE), whi ch holds a 4% net smelter royalty and a 5% net profits interest in the property. Over the past several days, traders continued to bid the share price of Euro-Nevada to new highs, hitting $9.13 on Nov 13.

Barrick plans to continue with a series of 200-ft step-out drill holes during the remainder of this year and into 1990. This work will try to delineate the mineralization leading to a reserve calculation.

The rich sections, which come at a depth of more than 1,300 ft, are the most northerly yet of deep sulphide gold mineralization found in the area. The most famous are those in the Betze and Deep Post deposits to the south on Barrick and Newmont Mining claims.

In August, Newmont Mining announced the discovery of the Deep Star deposit just 200 ft south of Barrick’s South block or three miles south of the new Barrick discovery.

]]>