WHITEHALL, Mont., March 21, 2019 (GLOBE NEWSWIRE) -- The Golden Sunlight mine, operated by Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”), has been approaching the end of its operational life in recent years, with the mine’s remaining gold reserves nearly depleted. Following a detailed review of the Golden Sunlight operation, new underground development has ceased, and mining is limited to existing areas only. A final mill run to process gold ore is currently scheduled for May 2019.
Underground and surface exploration drilling will continue at the operation, with a focus on the southern extension of the Sunlight vein. The Company will also complete metallurgical test work and a structural geological model associated with the APEX target.
In addition, Barrick will be evaluating the potential to reprocess historic tailings, while conducting hydrological and geochemical studies to support ongoing water treatment and reclamation work as part of our commitment as responsible owners of the Golden Sunlight mine
Our workforce and community partners’ interests remain a priority and we will continue with responsible environmental stewardship and management of our social and economic commitments as we work through this evaluation process. In the coming months, Barrick will review the findings from these different work streams and determine the path forward for the operation, at which time a further update will be communicated.
President and Chief Executive Officer
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Investor and Media Relations
Kathy du Plessis
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Golden Sunlight General Manager
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Cautionary Statement on Forward-Looking Information
Certain information contained in this press release constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “schedule”, “will”, “evaluate” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking information relating to future mining and processing operations, exploration activity, and environmental and social and economic commitments at the Golden Sunlight mine. Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned not to put undue reliance on forward-looking statements which are not guarantees of future events, and speak only as of the date made. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.