New vein at Tulawaka

Drilling by Barrick Gold (ABX-T) at the Tulawaka property in northwestern Tanzania indicates that mineralized intersections encountered previously may have been part of a new vein structure.

Three recent holes cut mineralization in narrow veins in the footwall of the Tulawaka deposit’s East zone, indicating a heretofore unknown vein structure. These intersections line up with an intersection in hole D-002, which had not previously been correlated with any other intersections. There, separate 1-metre intervals ran 31 grams and 4.8 grams gold per tonne.

The new holes carried grades in the grams-per-tonne range over core lengths similar to those encountered in the earlier intersections. In hole D-199, a 0.5-metre intersection ran 7.8 grams gold and a separate 1-metre intersection ran 3.4 grams.

A 1.4-metre intersection in hole D-205 graded 7.2 grams per tonne and a 1.1-metre intersection in D-252 graded 14.4 grams.

Barrick, which holds a 70% interest in the property, and partner Minires du Nord (MDN-T), which holds the rest, plan further drilling up- and down-dip on the structure. An estimate in August placed the indicated and inferred Tulawaka resource at 1.46 million tonnes grading 19.5 grams gold, based on a 1-gram cutoff grade.