barrick 1q comments on tulawakaTulawaka saw a decline in production largely due to lower equipment availability which reduced the material hoisted to surface and saw an increase in the processing of lower grade stockpiles.
Exploration drilling commenced on near mine targets at Tulawaka, although field activities at most projects in Tanzania were restricted during the quarter due to a lack of access as a result of high rainfall from the current wet season.
At Tulawaka, reverse circulation drilling at the Mojamoja target, approximately 4km northwest of the Tulawaka plant has identified a new zone of gold mineralisation. "Tulawaka style" quartz veining was encountered in several drill holes, with visible gold observed in RC chips associated with higher grade gold assays. Significant intercepts included better results of 12m @ 11.5g/t Au from 89m (including 2m @ 57.1g/t Au), 5m @ 36.4g/t Au from 76m (including 2m @77.5g/t Au), and 1m @ 67.3g/t Au from 48m. Additional step-out and infill drilling will be required prior to resource estimation work.
In addition, the underground exploration drill program at Tulawaka East Zone continued to identify extensions to the known high grade shoots in the AZM-124 Zone. Better results included, 4m @ 18.45g/t Au and 4.6m @ 34.5g/t Au (down-hole intersected width represents approximate true width) between Level 9 and Level 10. These high-grade intersections indicate the potential to identify extensions of the underground reserves and resources beyond currently defined levels, and further extend the Tulawaka mine life beyond 2010.
1q earnings