UPDATE 1-Barrick CEO Bristow says Nevada gold find shows big potential [Reuters]
Barrick Gold Corporation (BC) (GOLD)
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Source: Reuters
Barrick CEO Bristow says Nevada gold find shows big potential DENVER (Reuters) - A fresh gold discovery by Barrick Gold Corp in Nevada is “fantastically significant” and shows there still is rich potential in the region for exploration, Chief Executive Officer Mark Bristow said in an interview on Tuesday. Barrick announced the discovery hole on Tuesday and said its proximity about 1.25-mile (2 kilometers) from the company’s Fourmile project points to at least one more Tier 1 gold mine through the combination of Fourmile with the nearby Goldrush development project. “We’re super excited about that,” Bristow said on the sidelines of the Denver Gold Forum. “That’s the potential that’s there in Nevada, still for me.” Bristow also said the company is on track to achieve by the end 2019 half of expected cost savings of $450 million to $500 million at its Nevada joint venture with Newmont Goldcorp Corp. Bristow said 2019 gold production is trending toward the top end of its guidance range of
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