Project Overview
The REN Project (“REN”) is a high-grade deposit currently being developed as the northern, underground extension of the Goldstrike Mine, along the Carlin Trend in Nevada, USA. The project is operated by Barrick Gold Corp. (“Barrick”) and owned by Nevada Gold Mines, a joint venture between Barrick (61.5%) and Newmont Gold Corporation (38.5%).
In 2022, Nevada Gold Mines consolidated the northern extension of its Carlin complex by acquiring 100% of the South Arturo and Rodeo Creek properties through an asset swap with i-80 Gold Corp. The South Arturo and Rodeo Creek properties lie to the northwest of REN and highlight Nevada Gold Mines’ focus on the northern region of the Carlin trend. The Carlin complex includes the Goldstrike Mine, which is the largest gold mine in the United States having produced over 70 million ounces of gold.
Barrick continues to advance the REN project, including conducting exploratory drilling programs and building on-site infrastructure through the introduction of a twin decline alongside a ventilation shaft, surface pad, and other mine utilities. Barrick also aims to advance shaft sinking to support the continued development and production ramp up in the coming years.
Barrick announced in February 2024, that it expects that REN will be in full production by 2027, with an average production of 140,000 oz gold per year and further supported by mineral resource growth at the project.