Barrick(GOLD) Prnewswire·2025-02-11 12:26Core Insights - The company is actively drilling at the Providencia target to explore extensions of high-grade mineralization beneath historical mine workings, with plans for three additional drillholes in an expanded target area [1][5] - Historical mining at Providencia in the 1930s focused on high-grade copper and cobalt, with recent exploration revealing a new gold zone [2] - Significant channel sampling results indicate high gold grades and confirm mineralization extends east beyond the main historical mine workings [5] Exploration and Sampling Results - A total of 79 continuous twin saw-cut channel samples were collected from two historical adits, with significant results including 3.11 g/t Au over 37m and high grades in surface trench samples [3][5] - Channel sampling in Gallery 1 revealed a 37-meter-wide gold interval with assays up to 14.95 g/t Au, indicating good expansion potential [5] - Surface trench sample results confirmed near-surface mineralization extending east of the Providencia target, with assays up to 2.59 g/t Au over 6m [5] Project Overview - The Cármenes Project, located in northern Spain, covers 5,653 hectares and is prospective for multiple bodies of carbonate-hosted mineralization [7] - The project area includes former mines that produced copper and cobalt, highlighting the potential for additional breccia pipes [7] - The company is targeting copper-rich mineral deposits, aligning with strong long-term price outlooks for copper as a critical metal for global electrification [8]