Donlin assays extend higher trends for Barrick
Barrick (TSX:ABX; NYSE:GOLD) has released results from the remaining 30% of the 2020 drilling program at the Donlin gold project in Alaska. Both the grade and thickness of the intercepts were higher than predicted.
The data collected also resulted in an better understanding of the controls on mineralization.
Drill collar locations of the five best recent holes at Donlin. Credit: Barrick Gold.
The five top intervals of the latest results drilled between March and October 2020 are as follows:
DC20-1930 - 51.2 metres grading 4.6 grams gold per tonne, including 7.6 metres at 12.4 grams;DC20-1932 - 47.7 metres grading 4.8 grams gold, including 4.0 metres of 19.5 grams;DC20-1948 - 22.6 metres grading 8.7 grams gold, including 10.1 metres at 15.5 grams;DC20-1938 - 18.0 metres grading 10.5 grams gold, including 4.0 metres at 28.0 grams; andDC20-1946 - 35.8 metres grading 4.5 grams gold.Follow-up drilling is planned for 2021.
Located 450 km northwest of Anchorage, the Donlin project is a joint venture of Barrick Gold and NovaGold (TSX:NG; NYSE American: NG). One of the largest and highest grade undeveloped open pit gold deposits in the world, it contains an estimated probable reserve of 33.8 million oz. gold. Mine output could average 1.3 million oz. annually.
The Donlin project has received its major permits from the U.S. Army Corps of Engineers and the U.S. Bureau of Land Management. Agreements are in place with the Calista and TKC native communities providing employment opportunities, scholarships and preferential contract considerations.