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Kibali Powers Ahead While Barrick Plans Further Investments in DRC – InvestingNews.com

All amounts expressed in US dollars
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) Africa’s largest gold mine, Kibali, has made a strong start to 2022 and is on track to equal its 2021 production this year. Last year it again replaced the reserves depleted by mining and its prolific KZ trend of orebodies continues to deliver opportunities for significant open pit and underground growth.
Speaking to media here today, Barrick president and chief executive Mark Bristow said Kibali had notched up a number of other key deliverables during the current quarter. These include the signing of a cahier de charge with the surrounding communities to formalize their role in identifying and overseeing the mine’s investment in social development projects.
Another section of the Durba road to Watsa has been completed and the resettlement of the Kalimva-Ikamva and Pamao villages has started with the first group of people moving into their new homes. On the health and safety front, there have been zero lost time injuries during the quarter so far, the malaria and HIV programs continue to deliver infection rate reductions and 60% of our employees have been vaccinated against Covid-19, versus a national average of 1%.
In addition to Kibali’s long-standing support for conservation measures in one of DRC’s leading national parks, African Parks and Barrick are looking to reintroduce the white rhino to the Garamba national park. In what will be the largest exercise of its kind, the plan envisages the relocation of around 50 white rhinos to Garamba creating a new population group which is critical in the long-term plan to protect this species. In line with Barrick’s development strategy, the mine also launched the Garamba Alliance in partnership with the US Agency for International Development (USAID).
Since the project that became Kibali was acquired in 2009, its probable mineral reserves were doubled to more than 10 million ounces 1 of gold in 2010. Construction then started the following year, three hydropower plants were built and the infrastructure – including the road to the Ugandan border – was developed. The mine went into production in 2013 and still today has more than 10 years of mine life ahead, with 2021 total proven and probable mineral reserves of 83Mt at 3.60g/t for 9.6Moz 2 of gold, before considering extensions to known orebodies and new discoveries. Since 2009, Kibali has invested almost $4 billion in the DRC in the form of royalties, taxes and permits; infrastructure and community development; salaries; and payments to local suppliers and contractors, which have created a thriving regional economy.
“Barrick is continuing to invest in the DRC, not only by developing the many new growth opportunities which are extending Kibali’s life, but also through pursuing greenfields exploration and other opportunities across the country as we search for our next world-class discovery,” Bristow said.
Enquiries:
President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386
DRC country manager
Cyrille Mutombo
+243 812 532 441
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Endnotes
Technical Information
The scientific and technical information contained in this press release has been reviewed and approved by Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Resources Manager, Africa & Middle East and Rodney Quick, MSc, Pr. Sci.Nat, Mineral Resource Management and Evaluation Executive.
Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “ahead”, “on track”, “continue”, “envisage”, “strategy”, “pursue”, “expect”, “will”, “maintain”, “growth”, “opportunities”, “design” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Kibali’s production guidance and performance; opportunities to grow reserves net of depletion and extend Kibali’s mine life; the potential for significant open pit and underground growth from the KZ trend of orebodies; the anticipated environmental and operational benefits from Kibali’s investment in its infrastructure including hydropower stations and roads; Kibali’s health, safety and environmental protection programs, including the resettlement of the Kalimva-Ikamva and Pamao villages, its Covid-19 prevention protocols and initiatives to secure Covid-19 vaccines as well as the Garamba Alliance; Barrick’s plan to reintroduce white rhinos to the Garamba national park in partnership with USAID; and Barrick’s commitment to the DRC and potential further growth opportunities.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company’s expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; steps required prior to the distribution of cash and equivalents held at Kibali in banks in the Democratic Republic of Congo; risks associated with projects in the early stages of evaluation, and for which additional engineering and other analysis is required; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick’s targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the DRC and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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Precipitate Gold Corp. (TSXV:PRG) has launched its campaign on the Investing News Network’s resource channel.
Precipitate Gold is a mineral exploration company with district-scale strategic land positions in the Dominican Republic. The company is currently advancing its Pueblo Grande and Juan de Herrera projects in the Dominican Republic, where the company is also working to expand its existing portfolio. Precipitate Gold always works to acquire 100 percent of the properties that it owns, ensuring that there are no outstanding vendor payments or working commitments.
Precipitate Gold’s current projects are strategically located in highly-prospective and active gold and copper mining camps in the Dominican Republic. The company’s flagship Pueblo Grande project is next to Barrick Gold (TSX:ABX) and Newmont Goldcorp’s (TSX:NGT,NYSE:NEM) Pueblo Viejo mine, which is the eighth-largest gold mine in the world and the largest gold mine operating in Latin America. Pueblo Viejo is projected to produce approximately 600,000 ounces of gold at an all-in sustaining cost of US$650 per ounce in 2019.
Precipitate Gold’s company highlights include the following:
Click here to learn more about Precipitate Gold Corp. (TSXV:PRG) and to request an investor presentation.
Beauce Gold Fields Inc. (TSXV:BGF) has launched its campaign on the Investing News Network’s resource channel.
Beauce Gold is a gold exploration company focused on placer and hard rock exploration in the Beauce region of southern Quebec. Beauce is using a model similar to that used in the Klondike and Cariboo gold districts with the hopes that the model will allow the company to trace the placer gold back to its source, sparking a new gold rush. The Beauce region was home to Canada’s first gold rush in 1860, which was host to the largest historical placer gold deposit in the eastern half of North America.
The Beauce Gold region’s historical significance is part of the reason both major and junior mining companies are paying close attention to the area. Major gold companies like Barrick Gold (TSX:ABX), Newmont Mining (NYSE:NEM) and Osisko Gold Royalties (TSX:OR) have all made previous investments in the Klondike and Cariboo, leading juniors to believe there is significant potential for mergers and acquisitions in the future. In the meantime, Beauce Gold is expected to continue to explore the Beauce Gold project. The company recently completed a large-scale gravimetric survey over the fault on the property, revealing that the fault extends over 4.5 kilometers in alignment with other placer gold mines.
Beauce Gold’s company highlights include the following:
Click here to connect with Beauce Gold Fields (TSXV:BGF) for an Investor Presentation.
Antler Hill Mining (TSXV:AHM.H) has launched its campaign on the Investing News Network’s resource channel.
Antler Hill is a junior exploration company in the process of acquiring two properties in San Juan Province, Argentina. The country is viewed as a mining-friendly jurisdiction thanks to the federal government’s clear support of the mining industry through pro-mining tax incentives. The Amiches goldsilver project is located in the El Indio gold belt approximately 100 kilometers south of Barrick Gold’s (TSX:ABX,NYSE:GOLD) Veladero mine. Amiches remains predominantly unexplored with small trenching and sampling projects previously conducted on the property. In 2018 Antler Hill collected grab samples that graded 15 g/t gold and 190 g/t silver as well as 3.3 g/t gold and 70 g/t silver.
Antler Hill’s second project is a copper-gold-molybdenum property that was previously drilled, revealing copper porphyry mineralization. Historical drill results have returned 20 meters grading 0.47% copper, 0.21 g/t gold and 248 ppm molybdenum, as well as 10 meters grading 0.65% copper, 0.26 g/t gold and 246 ppm molybdenum. Antler Hill is lead by Chairman Matthew Wood, who has over 25 years of experience in the mining industry.
Antler Hill’s company highlights include the following:
Click here to see the educational profile for Antler Hill (TSXV:AHM.H) and to request an investor presentation.
David Erfle: Technical Bottom in for Gold Stocks, Where to Find Opportunityyoutu.be
Interesting gold price action has been brought on in recent weeks by factors like the ongoing war between Russia and Ukraine, as well as last week’s US Federal Reserve meeting.
The yellow metal is still trading at elevated levels, but will its gains stick? David Erfle, editor and founder of Junior Miner Junky, said he sees support trying to hold at the US$1,900 or US$1,920 per ounce level.
However, he told the Investing News Network, he wouldn’t be surprised to see gold test US$1,850 since it was facing “strong resistance” there before the conflict allowed it to break out.
Erfle is bullish overall moving forward, and noted that when the Fed begins a new cycle of hiking interest rates, that tends to mark a low point in the gold market. In this case, the central bank’s plans were telegraphed far in advance, and gold companies began to bottom about six months ago.
“The gold stocks have now technically put in a bottom — both the VanEck Gold Miners ETF (ARCA:GDX) and the VanEck Junior Gold Miners ETF (ARCA:GDXJ) have technically put in six month bottoms,” he said.
When asked where he’s focusing right now in terms of stocks, Erfle said he’s been acquiring later-stage junior developers that are at the feasibility stage, or at or close to the financing phase. Many have experienced significant selloffs, but he believes that looks set to change with financing becoming more accessible, and with market participants realizing that the assets held by these companies have good margins with a more elevated gold price.
Erfle anticipates more gold M&A this year, and noted that single asset developers and producers will likely continue to be taken out by larger companies. Earlier-stage companies are also gaining attention from global miners.
“I expect to see a couple more mergers of equals as well, because let’s face it — this sector needs more consolidation. To attract generalist capital, these companies need to get bigger,” he explained.
Watch the video above for more from Erfle on gold and gold stocks.
Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX: TPRFF) announced today that it has completed updated Mineral Resource and Mineral Reserve estimates for its Segovia Operations prepared in accordance with the Canadian Institute of Mining Metallurgy and Petroleum (“CIM”) Definition Standards incorporated by reference in National Instrument 43-101 (“NI 43-101”) with an effective date of December 31, 2021.
Highlights of the updated Mineral Resource Estimate as of December 31, 2021 (the “2021 MRE”) include:
The following table summarizes the 2021 MRE with an effective date of December 31, 2021 for the Segovia Operations and the changes by category in tonnes, grade and ounces of gold compared with the previous total MRE as of December 31, 2020:
(1) The Mineral Resources are reported at an in situ cut-off grade of 2.9 g/t Au over a 1.0 m mining width, which has been derived using a gold price of US$1,800 per ounce and suitable benchmarked technical and economic parameters for the existing underground mining (mining = US$99.0/t, processing = US$26.0/t, G&A = US$22.0/t, Royalties = US$6.1/t) and conventional gold mineralized material processing (90.5%). Each of the mining areas have been sub-divided into Pillar areas (“Pillars”), which represent the areas within the current mining development, and long-term resources (“LTR”), which lie along strike or down dip of the current mining development. Mineral Resources are reported inclusive of the Mineral Reserve. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate. All composites have been capped where appropriate. Some production at Segovia is sourced from mining areas that are not currently included in the Company’s MRE.
(2) Sourced from the NI 43-101 Technical Report, Prefeasibility Study Update, Segovia Project, Colombia dated May 13, 2021 and effective as of December 31, 2020, prepared by SRK Consulting (US) Inc. (“SRK”).
The 2021 MRE reflects an increase in the diamond drilling database of 412 holes for 93,868 meters compared to December 2020. A new vein has been added to the Mineral Resource at the historical Vera mine, which includes an additional 63 holes for 9,640 meters (including 27 holes for 7,509 meters of new drilling), bringing the total cumulative drilling database to 2,553 holes for 378,846 meters. All diamond core drilling during 2021 has been logged and sent for preparation at the SGS laboratories in Medellin, with associated Quality Control Programs. In addition to the drilling, a total of 13,001 channel samples totalling some 11,485 meters in length were added to the database in 2021, including 4,588 channel samples totalling 3,326 meters from historical FGM sources, and 92 channels for 106 meters of GCM check sampling for Vera.
The 2021 MRE was prepared using a block model constrained with 3D wireframes of the principal veins, which have been sub-domained using high-grade mineralisation wireframes to constrain the influence of higher grade material. Assays are capped prior to compositing. Values were interpolated using ordinary kriging for well informed areas and inverse distance squared methodology for smaller veins with limited data. All models have been depleted using projections of the mining faces through the entire width of the veins. Classification has been applied based on a combination of data quality, confidence in the spatial location, and confidence in the mining depletion shapes. Only material reporting above a cut-off of 2.9 g/t over a minimum stope width of 1.0 m has been included in the 2021 MRE. The MRE for Las Verticales has not been updated as no new information is currently available and the previous estimate for this project remains valid.
Ben Parsons, Principal Consultant (Resource Geology) with SRK, prepared the Segovia MRE according to CIM Definition Standards and will be supported by a NI 43-101 independent report which will be published and filed on the Company’s website and SEDAR profile within 45 days. Mr. Parsons is a Qualified Person as defined by NI 43-101. The NI 43-101 independent report will include detailed information on the key assumptions, parameters and methods used to estimate the mineral resources.
Segovia’s Life-of-Mine (“LOM”) Mineable Gold Reserves Total Approximately 633,000 Contained Ounces Effective December 31, 2020
SRK has also completed preliminary results of an updated Preliminary Feasibility Study (“Segovia PFS”) for the Segovia Operations effective December 31, 2021 and is currently finalizing the technical report. At December 31, 2021, Segovia’s reported Mineral Reserve totaled approximately 745,000 proven and probable ounces of gold, based on 2.3 million tonnes of material at an average head grade of 10.1 g/t, compared with 633,000 ounces at the end of 2020 based on 2.2 million tonnes of material at an average head grade of 9.0 g/t.
For the Segovia PFS, SRK included the geological and resource modelling of the various deposits and mining areas that comprise the operating mine site of the Segovia Operations. A mining study and schedule was prepared by both SRK’s and the Company’s technical professionals to create a LOM production schedule, including both Company-operated areas and contractor-operated areas within the Company’s Providencia, El Silencio, Sandra K and Carla mines. The Segovia PFS production schedule includes only Proven and Probable Reserves, and as such, the annualized level of production over the seven-year projected mine life in the Segovia PFS may be lower than the Company’s current expectations. This is largely due to the exclusion of Inferred Resources in the LOM production schedule in the Segovia PFS which the Company currently mines and intends to continue mining in the future. In addition, the material processed under operating contracts at the Company’s Maria Dama plant from the small-scale mines located in the Company’s mining title is not included in the LOM production schedule in the Segovia PFS as it falls outside the Company’s mines and is therefore not included in the Company’s 2021 MRE or Mineral Reserves.
The following table shows a breakdown of the Mineral Reserve as of December 31, 2021 by area and category compared with the total Mineral Reserve as of December 31, 2020:
(1)   Ore reserves are reported using a gold cutoff grade ranging from 3.20 to 3.51 g/t depending on mining area and mining method. The cutoff grade calculations assume a $1,650/oz Au price, 90.5% metallurgical recovery, $6/oz smelting and refining charges, 3.5% royalty, $21.72/t G&A, $26.06/t processing cost and mining costs ranging from $99.70/t to $114.05/t. The reserves are valid as of December 31, 2021. Note that costs/prices used here may be somewhat different than those in the final economic model. This is due to the need to make assumptions early on for mine planning prior to finalizing other items and using long term forecasts for the life of mine plan. Mining dilution is applied to a minimum mining height and estimated overbreak (values differ by area/mining method) using a zero grade. Reserves are inclusive of Mineral Resources. All figures are rounded to reflect the relative accuracy of the estimates. Totals may not sum due to rounding. Mineral Reserves have been stated on the basis of a mine design, mine plan, and economic model. There are potential survey unknowns in some of the mining areas and lower extractions have been used to account for these unknowns. The Mineral Reserves were estimated by Fernando Rodrigues, BS Mining, MBA, MMSAQP #01405, MAusIMM #304726 of SRK, a Qualified Person.
(2)   Sourced from the NI 43-101 Technical Report, Prefeasibility Study Update, Segovia Project, Colombia dated May 13, 2021 and effective as of December 31, 2020, prepared by SRK.
A summary of the key LOM operating and financial parameters of the current Segovia PFS dated as of December 31, 2021 compared with the previous Segovia PFS prepared as of December 31, 2020 is as follows:
(1) Sourced from the NI 43-101 Technical Report, Prefeasibility Study Update, Segovia Project, Colombia dated May 13, 2021 and effective as of December 31, 2020, prepared by SRK.

Fernando Rodrigues, BS Mining, MBA, MAusIMM, MMSAQP Practice Leader/Principal Consultant (Mining Engineer) with SRK, prepared the Segovia Mineable Reserve according to CIM Definition Standards and will be supported by a NI 43-101 independent report which will be published and filed on the Company’s website and SEDAR profile within 45 days. Mr. Rodrigues is a Qualified Person as defined by NI 43-101. The NI 43-101 independent report will include detailed information on the key assumptions, parameters and methods used to estimate the mineable reserve.
About GCM Mining Corp.
GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is the leading high-grade underground gold and silver producer with several mines in operation at Segovia Operations. Segovia produced 206,000 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024. GCM Mining pays a monthly dividend to its shareholders and has equity interests in Aris Gold Corporation (44%; TSX: ARIS; Colombia – Marmato), Denarius Metals Corp. (27%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources Inc. (26%; TSX-V: WA: Nunavut – Meadowbank).
Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com .
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to mineral reserves and resources, LOM production, Segovia PFS financial data and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated as of March 31, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@gcm-mining.com
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Bald Eagle Gold Corp. (” Bald Eagle ” or the ” Company “) (TSXV: BIG) (OTCBQ: BADEF) (FSE: 6W0) is pleased to report new zones of high-grade silver, lead and zinc values in soil samples. These discoveries were made during a regional geochemical sampling program at the Company’s 100% owned Hercules Silver Project in the Heath Mining District of Idaho (” Hercules “, or the ” Property “). Figures 1-4 illustrate the combined historical and 2021 sample results for silver, zinc, lead and manganese.
Bald Eagle Gold Corp. Logo (CNW Group/Bald Eagle Gold Corp.)
View Full News Release with Figures:
https://baldeaglegold.com/news-page/bald-eagle-announces-high-grade-soil-sample-discoveries-extension-of-strike-length-of-hercules-silver-deposit-with-newly-identified-silver-mineralized-zones
Subsequent to the acquisition of the Property, the Company acquired the neighbouring Leviathan property and staked additional ground covering a total contiguous land position of 4,256 acres. Following this district-scale land consolidation, the Company conducted a regional geochemical sampling program, which consisted of 1,575 soil samples across the current and expanded land package. The program comprised confirmation sampling over a 640-acre historical survey grid and also over the full 4,256-acre consolidated project area. The new sampling verified strongly anomalous silver values reported by historical operators in the 1970’s and 1980’s. Additionally, it discovered an important extension of the silver-lead-zinc bearing Hercules Rhyolite over 2.6 kilometers southeast of the Belmont Zone. This extends the total strike length to upwards of 5.5 kilometers of favorable high-grade silver host rock, materially increasing the exploration potential of the Property. This newly acquired information, together with the 3D model comprising approximately 300 historical drill holes, will provide the Company with the key information needed to design its future drilling plans.
Management Commentary
Chris Paul , CEO and Director of the Company, comments: “Our new sampling results highlight the scale of silver mineralization at Hercules and demonstrate the potential for high grade mineralization far beyond the limits of historical drilling. These are very high soil geochemical values. 1,063 of 3,397 historical and 2021 soil samples grade 5.0 ppm or higher across the 4,256-acre consolidated project area. Continuous zones of strong silver grades in historical drilling at the Hercules Adit and Fishpond Zones are associated with soil anomalies of up to 1 ounce per ton silver (35 ppm), while several multi ounce silver in soil anomalies remain to be tested elsewhere on the Property. South of the Belmont Zone, a cluster of soil samples on the order of several hundred ppm remains to be adequately drill-tested. A 600 meter long coincident IP geophysical and soil anomaly between Hercules Ridge and Grade Creek currently represents the largest untested soil anomaly on the Property, with values consistently exceeding 1 ounce per ton silver (35 ppm). Finally, the new high-grade soil discovery 2.6 kilometers southeast of Belmont brings the total target strike length on the Property to 5.5 kilometers and demonstrates the significant scale of silver mineralization at Hercules.
Select High-Grade Soil Samples
The 2021 and historical soil programs cover areas disturbed by previous exploration and mining activities; and as a result, some values may be upgraded or downgraded in these areas to an extent which is difficult to quantify. Silver geochemical values from the 2021 survey range from nil to a high of 305 ppm. The table set forth on the following page highlights some of the select historical and 2021 soil samples returned from the Project.
Table 1 – Select High-Grade Soil Sample Values
SURVEY YEAR
ZONE
Ag (ppm)
Cu (ppm)
Pb (ppm)
Zn (ppm)
1977 Historical Survey
Belmont South
604
NR
NR
NR
1977 Historical Survey
Belmont South
224
NR
NR
NR
1977 Historical Survey
Belmont South
168
NR
NR
NR
1977 Historical Survey
Belmont South
73
NR
NR
NR
2021 Bald Eagle
Belmont South
305
1,502
3,289
3,481
2021 Bald Eagle
Belmont South
165
1,073
2,950
2,743
1987 Historical Survey
Grade Creek
130
1,500
3,400
2,700
2021 Bald Eagle
Grade Creek
89
188
3,559
3,526
1987 Historical Survey
Grade Creek
75
1,200
390
1,700
1987 Historical Survey
Grade Creek
62
380
1,000
1,100
1987 Historical Survey
Grade Creek
62
1,400
1,500
2,200
2021 Bald Eagle
Grade Creek
73
201
4,055
28,230
2021 Bald Eagle
Grade Creek
73
201
4,055
28,230
2021 Bald Eagle
Grade Creek Extension
67
303
2,961
3,560
2021 Bald Eagle
Fishpond
14
243
>10,000
548
2021 Bald Eagle
Fishpond
82
498
758
1,649
1977 Historical Survey
Fishpond Untested Extension
560
NR
NR
NR
2021 Bald Eagle
Haystack
80
316
1,160
1,380
2021 Bald Eagle
Hercules Ridge
70
369
680
2,092
2021 Bald Eagle
Eastern Porphyry Target
6.2
3,175
35
233
2021 Bald Eagle
New Southern Discovery
1.8
84
8,260
20,470
NR = No Assay Reported. Historical Sample
In addition to the strong silver values ranging up to 8.9 troy ounces per ton (305 ppm), the 2021 soils also contain high values of zinc up to 20,470 ppm (~2%), lead up to 8,260 ppm (~0.8%), manganese up to 38,571 ppm (~3.9%), copper up to 3,175 ppm (~0.32%), and molybdenum up to 38 ppm, spanning a total strike length of 5.5 kilometers, and highlighting the large and high-grade nature of the carbonate replacement deposit (CRD) style mineralization at the Project. The closest analogy to the style of mineralization is the Hardshell deposit, part of the Hermosa-Taylor CRD deposit in Arizona . This asset was purchased in 2018 by South32 Limited from Arizona Mining Corp. in a cash deal valued at C$2.1 billion .
High-Grade Silver in Soil Values Confirmed
Strong silver-lead-zinc values reported in historical soil samples between the Belmont and Grade Creek Zones on the Property, which reach up to 605 ppm silver (17.6 troy ounces per ton) in soil have now been confirmed by the Company. The 2021 regional geochemical survey overlaps the historical grid area and confirms the high-grade values reported historically, with 20 soil samples grading over one troy ounce per ton (35 ppm) and 96 samples grading over 10 ppm in soil. Where they overlap, the program results for silver, lead and zinc were compared with a Micromine TM paired data analysis, producing scatterplots that demonstrate comparable results in each campaign.  While the expected and actual variances of individual samples is high, anomaly contours separately generated with each campaign are also broadly coincident.
Figures 1-4 illustrate the combined historical and 2021 sample results for silver, lead, zinc and manganese. The favourable rhyolite host unit responsible for the strong soil grades remains open under cover in both directions, with a major new discovery of outcropping rhyolite now revealed 2.5 kilometers to the southeast, where erosion has partially removed the overlying basalt cover.
Hercules Rhyolite Extension Discovered 2.5 Kilometers to the Southeast
Silver-lead-zinc-manganese mineralization has previously been defined as far southeast as the Belmont Zone, which returned historical drill intercepts of up to 62.5 meters of 70.1 ppm silver and 0.14% zinc in hole 84-4. A north-south trending zone of mineralization was discovered in the final two years of historical drilling at the Belmont Zone in 1983 and 1984. Despite strong silver intercepts in the discovery holes, depressed silver prices at the time precluded any further drilling. The best soil anomaly at Belmont South remains untested, including both historical and 2021 soil sample values grading up to 165 ppm, 168 ppm, 224 ppm, 305 ppm, and 604 ppm (~17.6 ounces per ton in soil).
Southeast of the Belmont Zone, post-mineral cover had precluded any further exploration drilling along strike. However, in late 2021, a reconnaissance soil sampling line detected the geochemical signature of the favourable host rhyolite, with high-grade lead-zinc-manganese. This is approximately 2.5 kilometers to the southeast of Belmont . The new discovery is exposed only by a small and discrete erosional window through the basalt, which went completely undetected by all previous workers. Soil samples over the new discovery returned zinc values of up to 20,470 ppm (~2%), lead up to 8,260 ppm (~0.8%), silver up to 1.8 ppm and manganese up to 20,501 ppm (~2%), evidencing the characteristic rhyolite-hosted CRD style signature of mineralization on the Property. The discovery adds a minimum of 2.5 kilometers of completely untested strike and likely continues well southeast from its discrete surface exposure.
Best Target on the Property at Grade Creek Remains Untested
The Grade Creek target is situated in the north of the project area where the Hercules Rhyolite dips below the overlying Brownlee sedimentary rock cover. Some of the strongest silver-in-soil grades on the Property occur at Grade Creek, ranging up to 130 ppm with 14 samples over 50 ppm silver-in-soil. New sampling also returned the strongest zinc value ever taken from a soil sample on the Property, returning 28,230 ppm (~2.8%) zinc. Grade Creek also returned the highest manganese value of 38,571 ppm (~3.9%), as well as lead values of up to 5,200 ppm (~0.52%) and copper values of up to 1,200 ppm (0.12%), all of which are closely associated with silver mineralization on the Property. The new sampling demonstrates that the strongest soil grades and best targets on the Property remain to be tested. The Hercules Rhyolite is open to the northeast of Grade Creek, where it trends under Brownlee sedimentary rock cover.
Sampling Methodology
Samples were collected at 50-meter grid spacings over areas of known mineralization and 100-meter spacings outside of that. Reconnaissance style traverses were also conducted at 100-meter sample spacings in further reaching areas of the Property. Samples were collected with the use of dutch soil augers, with an effort made to consistently sample the same B horizon material at each sample site. The B horizon typically occurs at approximately 10-30 centimeters depth on the Property and is composed of silt-size material with elevated levels of clay and iron and manganese oxyhydroxides. The B horizon soil is known to preferentially adsorb trace metals such as silver, lead and zinc and is often the preferred sample media in mineral exploration surveys. Following collection, the samples were bagged, dried and shipped to MSA Labs in Langley, BC for analysis.
QAQC
All soil samples were prepped and analyzed at MSA Labs laboratory in Langley, B.C. MSA Labs inserts internal quality control standards, duplicates and blank samples at set frequencies. Samples were dried and sieved to -180 micron (80 mesh). Following preparation, soil assays were determined by IMS-131 method. A 25g aliquot of the prepared pulp is cold digested with HNO3, then HCl is added and the sample is heated at 130˚C for 40 minutes. Digestion is carried out in disposable plastic bottles to eliminate cross-contamination from digestion vessels and heated via graphite block for even heating. The resulting solution is analyzed via ICP-MS and ICP-AES for 51 elements and is corrected for inter element spectral interferences.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron , MSc, a Registered Member of the Society for Mining. Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America and an independent “Qualified Person” for Bald Eagle within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).  To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release is neither inaccurate nor misleading. Some of the technical information presented in this news release was collected prior to enactment of NI 43-101 and comprises paper records maintained by various companies that conducted exploration work on the Property.  Details of the geochemical sampling methods, security, assaying, and quality control methods used in the generation of this historical technical data are unknown to Bald Eagle Gold Corp.; however, in Mr. Cameron’s opinion, the historical geochemical sampling results are verified by the Bald Eagle Gold Corp. sampling program for the purposes of National Instrument 43-101.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho . The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with the Company’s expectations; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com .
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF BALD EAGLE AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BALD EAGLE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Bald Eagle Gold Corp.

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Barrick Gold Corporation (“Barrick”) (NYSE:GOLD) (TSX:ABX) announced today that it has entered into a purchase and sale agreement (the “Purchase Agreement”) dated March 23, 2022 with a Canadian investment dealer (the “Dealer”) pursuant to which Barrick agreed to sell, and the Dealer agreed to purchase, 8,831,250 common shares of Skeena Resources Ltd. (“Skeena”) for resale on a bought deal basis, on and subject to the terms and conditions set forth in the Purchase Agreement (the “Disposition”). The gross consideration for the common shares consists of cash in the aggregate amount of C$132,468,750 (C$15.00 per common share).
Immediately prior to the closing of the Disposition, Barrick will have beneficial ownership of, or control and direction over, 8,831,250 common shares of Skeena, representing approximately 12.9% of the issued and outstanding common shares of Skeena, 2,812,500 of which were acquired as a result of Barrick exercising 2,812,500 common share purchase warrants on March 23, 2022 (based on 68,684,809 issued and outstanding Skeena common shares). Immediately following the closing of the Disposition, Barrick will not have beneficial ownership of, or control or direction over, any of Skeena’s issued and outstanding common shares.
Barrick is proceeding with the Disposition for investment portfolio management purposes. Depending on market conditions and other factors, including Skeena’s business and financial condition, Barrick may, acquire securities of Skeena or dispose of some or all of the securities of Skeena that it may own at such time.
A copy of the early warning report to be filed by Barrick in connection with the Disposition will be available on Skeena’s profile on SEDAR at www.sedar.com . A copy may also be obtained by contacting Kathy du Plessis at the phone number below. The corporate office of Barrick is Brookfield Place, TD Canada Trust Tower, Suite 3700, 161 Bay Street, P.O. Box 212 Toronto, Ontario, M5J 2S1. Skeena’s head office is located at 650-1021 West Hastings Street, Vancouver, British Columbia V6E 0C3.
Enquiries

Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release, including any information relating to Barrick’s investment in Skeena, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “may” and “will” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the potential for Barrick to acquire common shares or securities of Skeena or to dispose of some or all of the common shares or other securities of Skeena that Barrick owns at the time. Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned not to put undue reliance on forward-looking statements which are not guarantees of future events, and speak only as of the date made. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

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Metals Creek Resources Corp. (TSXV: MEK) (OTCQB: MCREF) (FSE: M1C1) (the “Company” or Metals Creek) is pleased to announce diamond drill results for drill hole DL22-024 from the phase III diamond drill program at the Dona Lake Gold project (See News Release November 08, 2021).
Results from drill hole DL22-024 is the deepest intercept to date from Dona Lake drilling. This hole intersected the Main Zone stratigraphy at approximately 675 meters below surface and 220 meters below the lowermost mine working (455 Level) returning a core length intercept of 8.82 grammes per ton (g/t) gold (Au) over 3.90 meters (m) (723.00 – 726.90m). This was a part of a broader zone of mineralization of 3.42 g/t Au over 19.61m (707.29 – 726.90m). (See Table 1 Significant Results and figure 1 Schematic Longitudinal). This hole demonstrates that the iron formation, with associated alteration, deformation and mineralization continues down plunge, remaining open at depth. Mineralization is hosted within silicate-sulfide iron formation and characterized by stringer to disseminated pyrrhotite ranging from 1 to 15% with local pyrite. Aside from pyrrhotite mineralization, alteration consists of moderate to strong hornblende, garnet and grunerite. DL22-024 was drilled to test the interpreted center of the plunge line, piercing approximately 85 meters below the previously reported deepest hole DL21-016, which intercepted 5.00g/t Au over 3.00m (see MEK news release dated 18 August 2021 and Figure 2 Schematic Section DL21-024).
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Figure 1 Schematic Longitudinal
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Figure 2 Schematic Section DL22-024
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Management is highly encouraged with the assay results from hole DL22-024. This intercept clearly demonstrates the continuity of high-grade gold mineralization and associated silicate-oxide iron formation below current drilling as well as strong alteration and pyrrhotite.
Drilling is ongoing and will continue to target the down plunge extension of the mine stratigraphy as well as test peripheral targets which include the North West Zone and the East Iron Formation.
 
Table 1 – Significant Results
Drill intercepts are core lengths and are believed to be 70-80% true thickness.
Further drill results will be released once they are received and compiled.
The Dona Lake Gold Project was optioned from Newmont Corporation (previously Newmont Goldcorp – see news release dated 13 June 2019) and is located in the Pickle Lake Greenstone Belt which is host to several historic mines including the Dona Lake mine, the Central Patricia mine and the Pickle Crow mine. Dona Lake is accessible by an all-weather road southeast from the Town of Pickle Lake. The Project consists of 32 patented and leased mining claims and 35 map staked claims totaling approximately 1,122 hectares and covers the past producing Dona Lake Mine.
Michael MacIsaac, P.Geo and VP Exploration for the Corporation and a qualified person as defined in National Instrument 43-101, is responsible for this release, and supervised the preparation of the information forming the basis for this release.
All split core samples were sent to Activation Laboratories. The precious metals were analyzed utilizing a standard fire assay with an atomic absorption finish. As part of the Corporations QAQC protocol, approximately 10% of the samples submitted for assay were also sent for check assays. Standards and blanks were inserted randomly into the sample shipments as part of the sampling protocol. Samples with fire assay results above 1.0 g/t gold are re-analyzed using a gravimetric finish and samples with fire assay results above 5.0 g/t gold or samples showing visible gold are analyzed using the pulp metallic method.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration Company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol “MEK”. Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.
Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Corporation’s website. Parties interested in seeking more information about properties available for option can contact the Corporation at the number below.
Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709) -256-6061
email: astares@metalscreek.com
www.MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

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