Barrick drilling hot at Goldstrike

Deep drilling at the Goldstrike property in the Carlin gold belt area of Nevada by operator American Barrick Resources continues to produce significant results.

Six holes have been completed since that terrific hole — P-159 — was pulled in early spring. That hole, all in sulphide ore, intersected 620 ft between a depth of 1,110 ft and 1,730 ft, grading 0.3 oz gold per ton. (N.M., March 23/87).

The six follow-up holes were completed to depths of about 2,000 ft. Five of these holes are within a grid area of 400 ft from the original hole P-159.

Three holes encountered similar grades to Hole P-159 over lengths ranging from about 100 ft to 685 ft. Though values of the holes have not been released, Jerry Garbutt, executive vice-president finance of American Barrick, says these three holes encountered grades of about 0.3 oz gold per ton. Two holes encountered lower grade mineralization.

A single hole drilled about 3,000 ft from P-159 produced an intersection of similar proportions to Hole P-159 and appears to be another significant area of mineralization, he says.

Drilling continues with three drills. Metallurgical testing is also under way. Preliminary testwork on this refractory mineralization indicates that either roasting or autoclave treatment would provide efficient gold recovery.

The depth of this mineralization precludes open-pit mining, the company says. And as there are currently no underground operations in the area, considerable additional engineering information is required to establish a preliminary economic assessment of the mineralization.

Toronto-listed Franco Nevada Mining receives a 4% net smelter royalty and a 5% net profit interest on the Goldstrike property, which has been in continous operation since 1979 at a rate of 44,000 oz a year.