Overview
- The 2025 preliminary assessment reports 3.6 Mt at 11.8 g/t (about 1.4 Moz) measured and indicated, plus 14 Mt at 14.1 g/t (about 6.4 Moz) inferred, with exploration potential of 32–34 Mt at 15–16 g/t.
- Barrick models annual production of roughly 600,000–750,000 ounces over a mine life exceeding 25 years.
- Initial capital is estimated at $1.5–$1.7 billion, with a projected sale cost of $850–$900 per ounce and all-in sustaining costs of $650–$750 per ounce.
- The drill program will expand from 16 to more than 20 rigs, targeting about 120 km of surface directional drilling by 2026 and reaching 370 km at surface plus 80 km underground by 2028.
- Permitting is underway for a Bullion Hill exploration ramp in 2026 with deeper drilling access via Goldrush in 2027 and initial exploitation tests around 2029, as Barrick cautions the PEA is preliminary and executives say drilling could double resources by year-end.