Barrick Mining Corporation · TSX:ABX
Barrick Mining — Barrick Gold — National Bank Exploration and Development Conference 2002
40 slides from Barrick Mining's conference presentation, Nov 18, 2002
Slide 1: Exploration & Development Projects Update
EXPLORATION & DEVELOPMENT PROJECTS UPDATE November 2002 VELADERO PROJECT UPDATE – OCTOBER 2, 2002
Slide 2: Exploration Philosophy
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 EXPLORATION & DEVELOPMENT PROJECTS UPDATE Alan R. Hill Alex J. Davidson Executive Vice President, Development Senior Vice President, Exploration EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 EXPLORATION PHILOSOPH
Slide 3: Exploration Philosophy
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 EXPLORATION PHILOSOPHY ! Countries with the best potential for: - >2 million ounce deposits - Low-cost orebodies ! Primary: Peru, Tanzania, Australia, USA ! Secondary: Canada, Chile, Argentina, Russia EXPLORATION &
Slide 4: Exploration Philosophy and Team
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 EXPLORATION PHILOSOPHY ! Reinvigorated grassroots exploration: - Peru - Tanzania - Australia - Chile / Argentina EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 EXPLORATION TEAM Moscow Toronto Elko ! 100 Geoscienti
Slide 5: 2002 Budget $100M by Region
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 2002 BUDGET $100M BY REGION (millions of dollars) Chile/ Canada Argentina 3 22 Nevada 11 7 Australia 9 Tanzania Peru 35 3 Former S.U. & other 10 Corporate Development and other EXPLORATION & DEVELOPMENT UPDATE – NOV
Slide 6: Replacing Reserves 1990-2002
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 REPLACING RESERVES 1990 – 2002 (millions of ounces) 82 ! Mined 37 million ounces ! Acquired 46 million ounces 60 ! Discovered 60 million ounces 20 4 46 37 1990 Total Acquisitions Divestitures Reserve 12/31/01 P&P Re
Slide 7: Technology in Exploration
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 TECHNOLOGY IN EXPLORATION BLEG ! Regional geochemical sampling technique ! Works in most terrains ! Covers large areas efficiently ! Other geochemical methods ! Identified Alto Chicama EXPLORATION & DEVELOPMENT UPDA
Slide 8: Balanced Exploration Pipeline
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 BALANCED EXPLORATION PIPELINE Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development Patagonia Tanami Kirondatal Eskay Creek Lagunas N. and 6 others and 15 others Buly Area and 4 others
Slide 9: Target Selection
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development TARGET SELECTION Weights of Evidence 1 Assemble data from all sources, landsat, govt. maps, etc. 2 Assign favourable criteria a “s
Slide 10: Patagonia
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development Valdivia LOS MENUCOS Viedma Puerto Montt Rio Negro PATAGONIA Chubut Puerto Madryn Esquel ANGELA COSTA ! Field visits to areas Como
Slide 11: Tanzania
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development Lake Victoria Greenstone Belt MUSOMA-TARIME Lake Victoria MWANZA TANZANIA Kabanga Geita GEITA Tulawaka Bulyanhulu TULAWAKA Golden
Slide 12: Bulyanhulu District
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development BULYANHULU DISTRICT ! Consolidated land 7K M position around Buly REEF 1 ! New strong and long Bulyanhulu anomalies parallel to Go
Slide 13: 2002 Results - North and South Eskay
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development 2002 Results - North Eskay C02-1159/975X Deep Adrian ∗ ! Good evidence for C02-1103W C02-1146 14.9 gpt/1.5m 9.5 gpt/2.0m continuat
Slide 14: Peru
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development PERU Cajamarca Huamachuco Trujillo Alto Chicama Cajamarca Pacific Ocean Pierina Huaraz La Libertad Huamachuco Alto Chicama Trujill
Slide 15: Lagunas Norte - Grade Thickness
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development Lagunas Norte – Grade Thickness (grams x metres) EN OP GRADE THICKNESS (grams x metres) er n p att > 500 rill .d 225 – 500 0m 10 1
Slide 16: Nevada
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Development EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 Grassroots Target Drill Advanced Reserve Delineation Testing Exploration Developm
Slide 17: Barrick Gold Exploration
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 BARRICK GOLD EXPLORATION ! >2 million ounce gold deposits ! High priority countries ! Robust project pipeline ! Sustained exploration budget ! Low-cost reserve replacement and growth ! Latest technology + old fashio
Slide 18: Growth Pipeline
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Pascua-Lama GROWTH PIPELINE 800 (thousands of ounces @ cost per ounce) @ $85 Alto Chicama Veladero 500 530 @ @ $130 $155 Cowal 270 @ $170 2005 2005 2006 2008 EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 GROWTH P
Slide 19: Alto Chicama Project
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 PERU Cajamarca Huamachuco Trujillo Alto Chicama Cajamarca Pacific Ocean Pierina Huaraz La Libertad Huamachuco Alto Chicama Trujillo LIMA Ancash Pierina Arequipa EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 Huara
Slide 20: Alto Chicama Project Overview
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 ALTO CHICAMA PROJECT OVERVIEW ! Project status: pre-feasibility ! 136 million tons grading 0.054 oz/ton ! Resource: 7.3 million ounces ! Average annual production: 500,000 oz ! Average cost per ounce: $130 ! Initial
Slide 21: Lagunas Norte
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Lagunas Norte – Diamond Drill Holes (50-meter radius of influence) EN OP MINERALIZED INFILL PROGRAM tt er n pa BARREN rill .d 0m 10 Volcanics and Sediments OPEN EN OP EXPLORATION & DEVELOPMENT UPDATE 1 – NOVEMBER km
Slide 22: Cowal Project
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 AUSTRALIA Orange Bathurst Cowal Project SYDNEY West Wyalong New South Wales Orange Pacific Ocean Goulburn Cowal Wagga CANBERRA Wagga West Wyalong EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 COWAL PROJECT EXPLOR
Slide 23: Cowal Project Overview
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 COWAL PROJECT OVERVIEW ! Project status: optimization of feasibility ! 56 million tons grading 0.049 oz/ton ! Reserves: 2.77 million ounces ! Average annual production: 270,000 oz ! Average cost per ounce: $170 ! In
Slide 24: Cowal Property Plan
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 COWAL PROPERTY PLAN EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 CHILE/ARGENTINA Pascua-Lama Veladero Project Project La Serena Cordoba San Juan Pacific Ocean ! 375 km. NNW. of San Juan, Argentina Rosario SANTIA
Slide 25: Chile/Argentina
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 CHILE/ARGENTINA Pascua-Lama Veladero Project Project Atacama La Serena San Juan Pascua-Lama Veladero Potrerillo Cordoba Pass San Juan (4,500 m) Despoblados Pass (4,500 m) Pacific Ocean El Indio Mine ! 120 km. access
Slide 26: Veladero Project Overview
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 VELADERO PROJECT OVERVIEW ! Project status: feasibility completed ! 254 million tons grading 0.037 oz/ton ! Reserves: 9.4 million ounces ! Average annual production: 530,000 oz ! Average cost per ounce: $155 ! Initi
Slide 27: Geological Data Base
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 AMABLE SCHEMATIC ALTERATION CROSS SECTION, LOOKING NORTH West Colluviu Cerro Pelado Silica West Steam Heated Silica Silica Alunite Alunite Silica Amable Illite Silica Propyllitic 0 1000 2000 Meters Zone 203 East Pro
Slide 28: Drill Hole and Tunnel Locations
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 DRILL HOLE AND TUNNEL LOCATIONS Filo Federico Cuatro Esquinas Amable EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 EXPLORATION area area enlarged enlarged DRIFT Filo Federico Filo Federico Decline Plan View 55m @
Slide 29: Probable Reserve Summary
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 OPEN PIT RESERVES Amable Filo Mario Filo Total Federico Total Tonnes (kt) 236,202 9,360 687,785 933,347 Crush Feed Total Tonnes (kt) 35,489 3,184 148,430 187,103 Contained Au Grade (g/t) 2.200 1.438 1.287 1.463 Cont
Slide 30: Gold Recoveries
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 GOLD RECOVERIES Amable Filo Federico Type I 75% 80% Type II 49% 49% Crushed ore 81% Run of mine 19% EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 RESERVES BY DEPOSIT Deposit Tonnes Grade Ounces millions g/t milli
Slide 31: Veladero Project
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 VELADERO PROJECT CHILE Pascua- Penelope Lama Filo Amable VELADERO Federico EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 VELADERO PROJECT Potrerillos Amable Filo Heap Leach Plant Open Pit Federico Area Site Area
Slide 32: Pierina Mine Process Flowsheet
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Truck Loadout Valley Fill Heap Leach Merrill Crowe Dam Process Plant Truckshop & Admin. Pond Dam Pond Dam Merrill Crowe Process Plant Pond PIERINA MINE 4 5 EXPLORATION & DEVELOPMENT Dam UPDATE – NOVEMBER 2002 PROCES
Slide 33: Production Statistics
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 PRODUCTION STATISTICS ! Mining capacity: 80 million tonnes/year ! Crushing: 12.6 million tonnes/year ! Run of mine: 3.5 million tonnes/year EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 DM-M2 Production Drills Op
Slide 34: Pierina crushing and truck loadout
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Crushing Primary Crusher at Pierina 0 1 2 3 4 EXPLORATION Secondary kilometers & DEVELOPMENT Crusher UPDATE at Pierina – NOVEMBER 2002 Truck Loadout Bin Haultruck and Truck Loadout Bin at Pierina 0 1 2 3 4 5 EXPLORA
Slide 35: Pierina heap leach and Merrill Crowe plant
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 Valley-fill heap leach at Pierina Valley-Fill Heap Leach 0 1 2 3 4 5 EXPLORATION kilometers & DEVELOPMENT UPDATE – NOVEMBER 2002 Merrill Crowe process plant at Pierina Merrill Crowe Process Plant 0 1 2 3 4 5 EXPLORA
Slide 36: Schedule to Commissioning
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 SCHEDULE TO COMMISSIONING ! Nov. 2002: Access Road Construction ! May 2003: Environmental Impact Approval ! July 2003: Barrick Board Approval ! Oct. 2003: Mine Prestrip Begins ! Sep. 2005: Pad Loading ! Mar. 2006: P
Slide 37: Operating Costs
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 OPERATING COSTS US$ per ounce Mining $84 Processing 33 G&A 30 Refining 3 Royalties and taxes 5 Total $155 EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER 2002 VELADERO PROJECT ECONOMICS rate of return as percent 14% at
Slide 38: Pascua-Lama Project Location
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 PASCUA-LAMA PROJECT LOCATION area enlarged PASCUA-LAMA CHILE ARGENTINA VELADERO 0 1 2 3 4 5 EXPLORATION & DEVELOPMENTkilometers UPDATE – NOVEMBER 2002 PASCUA-LAMA PROJECT EXPLORATION & DEVELOPMENT UPDATE – NOVEMBER
Slide 39: Pascua-Lama Project Overview
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 PASCUA-LAMA PROJECT OVERVIEW ! Project status: feasibilty ! 296 million tons grading 0.057 oz/ton ! Reserves: 16.9 million ounces ! Average annual production: 800,000 oz ! Average cost per ounce: $85 ! Initial capit
Slide 40: Forward Looking Statement
Barrick Gold Corporation Exploration and Development Projects Update – November 2002 FORWARD LOOKING STATEMENT Certain statements included herein regarding realized gold prices, gold lease rates and contango constitute "forward looking statements" within the meaning of the United States Private Secu
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