Barrick Plans Significant Gold and Copper Exploration in Jamaica This Year

Barrick is set to explore gold and copper in Jamaica through a collaboration with Geophysx Jamaica. Plans involve significant drilling activities scheduled for 2025, contingent upon permitting. This initiative is part of Barrick’s broader strategy to discover new mineral deposits globally.

Barrick, the world’s second-largest mining firm specializing in gold and copper, has announced its plans to initiate drilling for these minerals in Jamaica this year. This venture is a result of a partnership established in 2024 with local company Geophysx Jamaica, aimed at exploring the island for potential mineral resources.

According to Barrick’s latest annual report, ongoing analysis of Geophysx’s extensive data has led to the identification of large targets with promising geological characteristics. They anticipate commencing drilling operations in 2025, contingent upon receiving the necessary permits.

Geophysx, directed by Robert Stewart, the son of the late hotelier Gordon ‘Butch’ Stewart, has invested significantly in developing an extensive ore map of Jamaica. The company has acquired multiple exploration licenses from the Ministry of Mining to facilitate its operations.

Barrick regards this initiative in Jamaica as a pivotal opportunity for discovering gold and copper, enabled by their agreement with Geophysx, which grants access to a substantial land area of approximately 4,000 km². The company also recognizes geological similarities between Jamaica and the Dominican Republic, where the prominent Pueblo Viejo gold mine is located.

Established in 1983, Barrick operates internationally across four continents, maintaining mining interests in several countries including Canada, the United States, and various regions in Latin America and Africa. The company’s commitment to exploring Jamaica reflects its strategic vision to expand its global mining portfolio.

In conclusion, Barrick’s exploration of gold and copper in Jamaica represents a significant investment in the local mining sector, driven by a strategic partnership with Geophysx. The planned drilling activities are expected to enhance mineral resource identification and align with the company’s global growth objectives. Jamaica is poised to emerge as a key site for potential mineral discoveries, leveraging its geological similarities to other successful mining regions.

Original Source: jamaica.loopnews.com