Barrick Mining Corporation · TSX:ABX
Barrick Mining — Barrick Gold — Mining Investment Forum – Denver 2002
19 slides from Barrick Mining's conference presentation, Oct 2, 2002
Slide 1: Veladero Project Update
VELADERO PROJECT UPDATE Mining Investment Forum – Denver, Colorado – October 2, 2002 VELADERO PROJECT UPDATE – OCTOBER 2, 2002
Slide 2: Project Location
VELADERO PROJECT UPDATE Alan R. Hill Ray Threlkeld Executive Vice President Development Vice President Project Development Mining Investment Forum – Denver, Colorado – October 2, 2002 PROJECT LOCATION Veladero PA R A GU A CHILE ARGENTINA San Juan ! 375 km. NNW. of San Juan, Argentina ! 600 km. N. of
Slide 3: Access Road / Property Plan
ACCESS ROAD Pascua-Lama Veladero Potrerillo Pass (4,500 m) Despoblados Pass (4,500 m) El Indio Mine Conconta Pass (4,850 m) Tudcum ! 120 km. access road from Tudcum ! $23 million construction ! Complete by June 03 PROPERTY PLAN area enlarged PASCUA-LAMA CHILE ARGENTINA VELADERO 0 1 2 3 4 5 VELADERO
Slide 4: Project Overview
PROJECT OVERVIEW ! Recoverable ounces: 6.8 million ounces ! Mine life: 13 years ! Average annual production: 530,000 oz ! Average cost per ounce: $155 ! Initial capital: $425 million ! IRR: 14% VELADERO PROJECT UPDATE – OCTOBER 2, 2002 Filo Federico ENE GRADE NE CONTOURS N W Grade X thickness > 400
Slide 5: Schematic Alteration Cross Sections
FILO FEDERICO SCHEMATIC ALTERATION CROSS SECTION, LOOKING EAST North The Rid geline So uth Filo Federico Bx Mario Proposed pit outline Stea m Heated Silic a Alteration Alunite Sili c a Alt eratio n Prop yllitic Altera tion Colluvium Silic a Alunit e Alteration Illite Silic a Altera tion Silica Alter
Slide 6: Geological Data Base
GEOLOGICAL DATA BASE ! 110 diamond drill holes ! 747 reverse circulation drill holes ! 509 meters of tunnel in Amable ! 638 meters of tunnel in Filo Federico ! 227,664 samples in total VELADERO PROJECT UPDATE – OCTOBER 2, 2002 DRILL HOLE AND TUNNEL LOCATIONS Filo Federico Cuatro Esquinas Amable VELA
Slide 7: Exploration Drift Longitudinal Section
EXPLORATION area area enlarged enlarged DRIFT Filo Federico Filo Federico Decline Plan View 55m @2.75 g/t N Cuatro Esquinas 187m @5.91 g/t Assays from Channel Samples (~1 meter, in grams per tonne) 48m @ 4.4 g/t 0 1 2 Amable kilometers VELADERO PROJECT UPDATE – OCTOBER 2, 2002 LONGITUDINAL SECTION F
Slide 8: Reserve Information
OPEN PIT RESERVES Amable Filo Mario Filo Total Federico Total Tonnes (kt) 236202 9360 687785 933347 Crush Feed Total Tonnes (kt) 35489 3184 148430 187103 Contained Au Grade (g/t) 2.200 1.438 1.287 1.463 Contained Au Ounces (x 1000) 2510 147 6143 8800 ROM Total Tonnes (kt) 3223 584 39786 43604 Contai
Slide 9: Probable Reserve Summary / Gold Recoveries
PROBABLE RESERVE SUMMARY Ore tonnes (million) 231 Gold (g/t) 1.265 Silver (g/t) 15.05 Contained Gold (million oz) 9.386 Total tonnes mined in-pit (million) 934 Stripping ratio 3.051 Tonnes mined/contained oz Au 99.5 VELADERO PROJECT UPDATE – OCTOBER 2, 2002 GOLD RECOVERIES Amable Filo Federico Type
Slide 10: Reserves by Deposit
RESERVES BY DEPOSIT Deposit Tonnes Grade Ounces millions g/t millions Filo Type I 173.9 1.102 6.18 Filo Type II 17.9 1.152 0.66 Amable Type I 29.1 1.811 1.69 Amable Type II 9.7 2.762 0.86 Total 9.39 VELADERO PROJECT UPDATE – OCTOBER 2, 2002 VELADERO PROJECT CHILE Pascua- Penelope Lama Filo Amable VE
Slide 11: Veladero Project Property Plan
VELADERO PROJECT Potrerillos Amable Filo Heap Leach Plant Open Pit Federico Area Site Area Open Pit VELADERO PROJECT UPDATE – OCTOBER 2, 2002 PROPERTY PLAN area enlarged PASCUA-LAMA CHILE ARGENTINA VELADERO 0 1 2 3 4 5 VELADERO PROJECT UPDATE – OCTOBER kilometers 2, 2002 10
Slide 12: Minesite Plan / Pierina Mine
MINESITE PLAN ! 2 Open Pits ! Truck Shop and Crushing located next to Filo Filo Federico Open Pit Crushing Federico Open Pit Waste ! Merrill-Crowe Recovery Plant adjacent to heap leach pad Amable Open Pit Waste Merrill Crowe Process Plant Valley-Fill Heap Leach Administration 0 1 2 3 4 5 and Camp VE
Slide 13: Process Flowsheet / Production Statistics
PROCESS FLOWSHEET SECONDARY CRUSHING PRIMARY CRUSHING Screens (2) 2000 tonne Cone Lime Surge Crushers Stockpile (2) Gyratory Crusher Emitters LEACHING CIRCUIT Dam Valley-Fill Heap Leach REFINING CIRCUIT Pregnant Solution PREGNANT SOLUTION CLARIFICATION Filter Presses (5) NaCN Deaeration Tower Mercur
Slide 14: Open Pit Operations and Crushing
DM-M2 Production Drills Open Pit operations Open Pit operations 0 1 2 3 4 5 VELADERO 240-ton PROJECT UPDATE kilometers haultrucks – OCTOBER 2, 2002and 37 cubic meter shovels Crushing Primary Crusher at Pierina 0 1 2 3 4 VELADERO Secondary PROJECT UPDATE kilometers Crusher – OCTOBER at Pierina 2, 200
Slide 15: Haultruck, Loadout Bin and Valley-fill Heap Leach at Pierina
Truck Loadout Bin Haultruck and Truck Loadout Bin at Pierina 0 1 2 3 4 5 VELADERO PROJECT UPDATE – OCTOBER 2, 2002 kilometers Valley-fill heap leach at Pierina Valley-Fill Heap Leach 0 1 2 3 4 5 VELADERO PROJECT UPDATE – OCTOBER 2, 2002 kilometers 14
Slide 16: Equipment Specifications
Merrill Crowe process plant at Pierina Merrill Crowe Process Plant 0 1 2 3 4 5 VELADERO PROJECT UPDATE – OCTOBER 2, 2002 kilometers EQUIPMENT SPECIFICATIONS Start up Maximum 240-ton haultrucks 8 22 37 cubic meter shovels 2 3 23 cubic meter loaders 1 2 Production drills 2 5 VELADERO PROJECT UPDATE –
Slide 17: Schedule to Commissioning / Capital Cost
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: Process commissioning VELADERO PROJECT UPDATE – OCTOBER 2, 2002 CAPITAL COST OF CONSTR
Slide 18: Operating Costs / Project Economics
OPERATING COSTS US$ per ounce Mining $84 Processing 33 G&A 30 Refining 3 Royalties and taxes 5 Total $155 VELADERO PROJECT UPDATE – OCTOBER 2, 2002 PROJECT ECONOMICS rate of return as percent 14% at $325 gold 12% at $300 gold 8% cost of capital VELADERO PROJECT UPDATE – OCTOBER 2, 2002 17
Slide 19: Forward Looking Statement
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 Securities Litigation Reform Act of 1995. Such Forward-looking statements involve known a