Barrick Gold Corporation plans to conduct drilling for copper and gold in Jamaica, partnering with Geophysx Jamaica to explore mineral deposits. The initiative promises extensive exploration backed by comprehensive geological data analysis, with drilling expected in 2025 contingent on permits. Barrick views this as a significant expansion opportunity in the Caribbean mining landscape.
Barrick Gold Corporation, recognized as the second-largest gold and copper mining firm globally, is poised to initiate drilling operations for these minerals in Jamaica this year. The organization has forged a partnership with Geophysx Jamaica, allowing for extensive exploration of the island to uncover potential mineral deposits.
In its recent annual report, Barrick revealed that the analysis of Geophysx’s comprehensive data, alongside field reconnaissance efforts, has pinpointed district-scale targets bearing porphyry and epithermal characteristics. While drilling is anticipated for 2025, it remains contingent upon securing necessary permitting approvals.
Geophysx, helmed by Robert Stewart, the son of the renowned hotelier Gordon ‘Butch’ Stewart, has heavily invested in developing a detailed ore map for Jamaica. This venture is supported by multiple licenses granted by the Ministry of Mining, facilitating Geophysx’s exploration initiatives.
Describing this project as “a new frontier for gold and copper exploration,” Barrick emphasized the significance of its earn-in agreement with Geophysx, which permits access to land samples covering 4,000 square kilometers. The company highlighted geological parallels between Jamaica and the Dominican Republic, particularly referencing the Pueblo Viejo gold mine, one of the most substantial mining sites in the Americas.
Barrick, established in 1983, maintains a robust presence in the global mining industry, with operations across four continents, including existing interests in countries such as Canada, the United States, and several nations in Latin America and Africa. This new exploration initiative signifies its commitment to expanding its mining portfolio in the Caribbean region.
Barrick Gold Corporation is set to advance its exploration of copper and gold in Jamaica in collaboration with Geophysx Jamaica. The project aims to leverage extensive geological data to uncover valuable mineral deposits. With significant investments and permits in place, Barrick’s entry into Jamaica presents an opportunity to tap into new mining prospects, reinforcing its solid standing in the international mining domain.
Original Source: jamaica.loopnews.com
