Major Gold Discovery at Barrick Ivory Coast Mine

[PinkDiamond]

Although I looked for this story at mining.com, they haven't done an article on it yet, and this one I saw in a Newsmax headline so that's where this one comes from. This is great news since it means the mine which was to close in 2020 will continue to operate until around 2030. Here's what they found, and where they found it.

Major Gold Discovery at Barrick Ivory Coast Mine


Gold recently mined (Dreamstime)
Friday, 07 July 2023 11:44 AM EDT

"Barrick Gold Corp.'s Tongon mine in Ivory Coast will continue operating until at least 2030 following a significant discovery of new deposits, its director general said.

The country's biggest industrial mine, located north of the port city of Abidjan, started production towards the end of 2010 and was due to close in 2020.

But the discovery in 2021 and 2022 of four new pits around the mine, as well as a significant deposit with an exploration permit in the nearby region of Boundiali, will extend its life and boost output, Hilaire Diarra said in an interview.

Barrick Gold planned to process gold mined in Boundiali in Tongon. But the company is considering building a new mine in Boundiali in 2025 if the deposit turns out to be larger than the one in Tongo, he added.

The mine's output is expected to rise above 200,000 ounces of gold in 2023 and continue to increase gradually until at least 2026, Diarra said.

Production stood at 206,000 ounces of gold in 2021 and 200,000 in 2022.

Ivory Coast, the world's top cocoa producer, is seeking to develop its long-neglected mining sector to diversify its revenue.

Gold output has been climbing steadily for several years, and the country produced a record high of about 48 tons of gold in 2022, up 14% from the previous year.

Production is expected to reach ... "
https://www.newsmax.com/finance/streett ... 05138mxmcc

[SwordfishMining]

They are big, really big, in mining. https://www.linkedin.com/company/barric ... rporation/ When it comes to precious metals, small projects sometimes have big discoveries, but BIG projects find Big undiscovered extensions and they have the wherewithal to deal with governments or walk away to another country. I wish my savings were mostly gold bullion instead of large black opal specimens and claims to dig more.
The mine has contributed $2.2 billion to the Ivorian economy in the form of taxes, infrastructure development, salaries and payments to local suppliers since pouring first gold in 2010.


https://www.barrick.com/English/news/ne ... fault.aspx

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) was the lead donor in the translocation as part of its long-standing partnership with African Parks and Garamba National Park, Africa’s oldest wildlife park and a UNESCO World Heritage Site. To date, Barrick has provided more than $2.5 million for tracking collars, fuel for observation planes, rescue and rehabilitation programs as well as improvements to critical infrastructure such as roads and bridges.