During the quarter(Jan-Mar), the Company (Barrick) entered into a JV agreement with Allied Gold on a 200 square
kilometer land package on the Big Tabar and Tatau
Islands in PNG, located between the producing Lihir
and Simberi mines. Barrick can earn up to a 70%
interest by spending $18 million on exploration and
has budgeted $2.1 million in year 1 for 5,000 meters
of diamond drilling, geophysical surveys and a
geochemical and mapping program.
spectacular gold intercept 16m at 15.12 gt au, page-9
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