EXPLORATION & DEVELOPMENT

Barrick unveils rich discovery in Peru

BARRICK has quadrupled its 2002 exploration and development budget for Alto Chicama to US$20 million after announcing a significant gold discovery at the Peruvian property.

Greg Tubby

Based on widespread drilling, Toronto-based Barrick has calculated an inferred resource of 55 million tonnes grading 1.78gpt for a total of 3.5 million ounces of gold. "At this stage the similarities...

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