Canadian Mining Journal

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GOLD: Barrick updates reserves, resources at Lagunas Norte

PERU – Barrick Gold of Toronto has filed an updated 43-101 report for its Lagunas Norte gold mine in the Alto Chicama district. This operation began production in 2005, producing 582,000 oz of gold in 2014 at an all-in sustaining cost of...



PERU – Barrick Gold of Toronto has filed an updated 43-101 report for its Lagunas Norte gold mine in the Alto Chicama district. This operation began production in 2005, producing 582,000 oz of gold in 2014 at an all-in sustaining cost of US$543 per oz.

Proven and probable reserves stood at 69.7 million tonnes averaging 1.27 g/t Au and 4.42 g/t Ag. Contained metal totaled 2.8 million oz of gold and 9.9 million oz of silver. The figures include ore in stockpiles and heap inventory.

Lagunas Norte has resources of both the oxide and refractory types of ore. The measured and indicated refractory estimate is 22.4 million tonnes grading 2.55 g/t Au, plus 300,000 tonnes of inferred material grading 1.92 g/t Au. Oxide resources includes 19.4 million measured and indicated tonnes at 2.11 g/t Au and 1.6 million inferred tonnes at 0.73 g/t Au.

Barrick says mining will continue through 2017. Approximately 25 million tonnes of ore will be mined in 2015 and 23 million tonnes in 2016. About 25 million tonnes of waste will have to be removed each year.

Full information about the Lagunas Norte project is available at Barrick.com.

Late breaking: A small cyanide spill briefly shut down the Veladero gold mill in Argentina on Sunday. Barrick said the spill from a valve failure was immediately identified and production halted to prevent any further cyanide loss. No workers and nothing in the environment sustained damage due to the leak. The Veladero mine produced 722,000 oz of gold in 2014.