With barrick now onboard funding the project with there experience being the biggest gold company this could be massive.
I think they must have some idea of what is there or they wouldn't waste time.
http://www.barrick.com/operations/exploration/default.aspx
Exploration expertise is a competitive advantage for Barrick.
Since 1990, we have found 142 million ounces of gold for an overall discovery cost of $25 per ounce, or roughly half the average finding cost across the industry. This includes two of the largest gold deposits discovered in recent decades — Lagunas Norte in Peru, and Goldrush in Nevada — as well as our new Alturas discovery in Chile.
These results are driven by the Barrick Exploration System (BXS), a proprietary system for identifying, evaluating, and ranking exploration projects that has been developed over two decades. This system significantly increases the chances for success and ensures our exploration dollars are allocated to the projects with the best potential returns at the lowest risk.
Approximately 80% of our total exploration budget of $125-$155 million is allocated to the Americas. Our exploration programs strike a balance between high-quality brownfield projects, greenfield exploration, and emerging discoveries that have the potential to become profitable mines.
The current metal price environment also presents new opportunities to gain access to attractive exploration projects through earn-ins, acquisitions, and other partnerships. Evaluating these third-party opportunities will be a focus in 2016.
looking forward to the coming announcements.
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