EXPLORATION ’99 – NEWS ROUNDUP — Barrick eyes El Valle deposit

Barrick Gold (ABX-T) and Rio Narcea Gold Mines (RNG-T) are discussing a possible joint venture at certain of the latter’s properties in Spain and Portugal.

Among these is the El Valle open-pit project in Spain, where Rio Narcea has blocked out 3.7 million tonnes grading 4.9 grams gold per tonne in a total resource of 6.8 million tonnes grading 6.1 grams gold.

Development is also under way at the Carlos open-pit deposit, 10 km to the north. It hosts a reserve of 1.4 million tonnes grading 4.2 grams gold, within an overall resource of 2.5 million tonnes grading 4.4 grams.