United States

Goldrush Project

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Overview

Mine TypeUnderground
StageConstruction
Commodities
  • Gold
Mining Method
  • Longhole open stoping
  • Drift & Fill
Backfill type ... Lock
Production Start... Lock
Mine Life... Lock
SnapshotGoldrush Project, at Cortez, is expected to be a long-life underground mine with anticipated annual production in excess of 400,000 ounces per annum once the project reaches commercial production.

On December 11, 2023, the US Bureau of Land Management has issued a Record of Decision (“ROD”) approving Nevada Gold Mines’ (“NGM”) plan of operations for its new Goldrush underground mine at the Cortez Complex.

On April 25, 2024, Barrick Gold Corporation ("Barrick") announced the official opening of the Goldrush underground mine in the Cortez Complex. Barrick reported that Goldrush is on track to produce 130,000 ounces of gold this year, with ramp-up to progressively increase each quarter over 2024, and is expected to reach commercial production in 2026.
Related AssetCortez Complex

Owners

SourceSource
CompanyInterestOwnership
Newmont Corp. 38.5 % Indirect
Barrick Gold Corp. (operator) 61.5 % Indirect
Starting in the first quarter of 2021, Goldrush is reported as part of Cortez as it is operated by Cortez management.

On March 10, 2019, Barrick entered into an implementation agreement with Newmont to create a joint venture, named Nevada Gold Mines.

On July 1, 2019, Cortez was contributed to Nevada Gold Mines.

Barrick is the operator of the joint venture and owns 61.5%, with Newmont owning the remaining 38.5% of the joint venture.

Contractors

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Deposit type

  • Sediment-hosted
  • Carlin-type

Summary:

Goldrush deposit is part of the Cortez deposits, which are Carlin-type sedimentary rock-hosted deposits.

Exploration currently reveals that the deposit has a maximum thickness of 76 m, a width of about 425 m, and extends along strike for approximately 5,275 m. The deepest significant intercept is currently at 1,435 masl. The Goldrush system remains open to the north into Fourmile, to the southeast, and in multiple directions in the Ken Balleweg (KB) Domain.

Exploration to date shows that mineralization at Goldrush is primarily stratigraphically controlled, occurring within subunit 5 of the middle Wenban Formation and to a lesser extent along the contact between the Horse Canyon and Wenban formations.

Mineralization is associated with low-angle thrust faults and their related hanging wall antiforms that typically concentrate gold along fold hinges and/or east-dipping limbs. Gold occurs within extensive zones of decarbonatization and silicification within the Devonian rocks.

The system is marked by a large stratiform silicified and sulfidized breccia horizon from 15– 70 m thick that extends more than 7,000 m on a north–northwesterly strike.

Mineralization
The main gold-bearing mineral is micrometre-sized arsenian pyrite that occurs as individual grains or as rims on pre-existing pyrite. Mineralization is primarily double-refractory and highly preg-robbing with both sulfides and active carbon present in the orebody. Mineralization exhibits low Ag:Au ratios with enrichment in arsenic, antimony, mercury, and thallium, and low base metal contents.

Seven mineralized domains are defined, from north to south, Crow’s Nest, Red Hill, KB North, KB South, 3½, Ranch, and Meadow.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityUnitsAvg. Annual
Gold oz 40,000
All production numbers are expressed as metal in doré.

Production Costs

Commodity production costs have not been reported.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 25, 2024
....................... Subscription required ....................... Subscription required Subscription required May 25, 2024
....................... Subscription required ....................... Subscription required Subscription required May 25, 2024

Total WorkforceYear
...... Subscription required 2024

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