Barrick Gold Corporation plans to commence drilling for gold and copper in Jamaica in 2023 through a partnership with Geophysx Jamaica. This initiative follows extensive data analysis identifying promising mineral targets. Drilling is projected to begin in 2025, pending permits. Barrick regards this venture as a pivotal step in their exploration efforts, enhancing their global mining portfolio.
Barrick Gold Corporation, recognized as the second-largest global miner of gold and copper, has declared its intentions to initiate drilling for these minerals in Jamaica within the current year. The company has formed a partnership with Geophysx Jamaica, which they established in 2024, to embark on extensive exploration for potential mineral resources available on the island.
The partnership emerged from the analysis conducted on Geophysx’s substantial dataset, which identified significant targets characterized by porphyry and epithermal prospects. Barrick intends to pursue additional exploratory activities, with drilling operations anticipated to commence in 2025, contingent upon receiving the necessary permits.
Geophysx, under the leadership of Robert Stewart, who is the heir of the late hotelier Gordon ‘Butch’ Stewart, has committed considerable capital towards the development of a thorough ore map for Jamaica. To bolster its exploration initiatives, Geophysx has secured multiple licenses from the Ministry of Mining.
Barrick perceives its operations in Jamaica as a pioneering advancement in gold and copper exploration, facilitated through an earn-in agreement with Geophysx. This agreement affords Barrick access to 4,000 square kilometers of sampled land. The company has also noted geological resemblances between Jamaica and the Dominican Republic, home to the notable Pueblo Viejo gold mine, one of the largest in the Americas.
Founded in 1983, Barrick has established itself as a dominant force within the global mining industry, operating across four continents. Its portfolio includes mining ventures not only in Jamaica but also in countries such as Canada, the United States, Argentina, and various others across Europe, Africa, and South America.
In conclusion, Barrick Gold Corporation is poised to enhance its mining operations in Jamaica, focusing on exploring for copper and gold. Through its collaboration with Geophysx Jamaica, the company is expected to set the groundwork for significant drilling and exploration activities, unveiling potentially rich mineral deposits that could further solidify its global presence in the mining sector. The strategic agreements and established geological similarities with neighboring regions underscore Barrick’s confidence in Jamaica as a viable area for mineral development.
Original Source: jamaica.loopnews.com
