By Charlotte Reid 
They plan to begin internal work on the mine in 2026.
Barrick Mining, one of the world’s largest gold companies, announced that its Fourmile project, located in the heart of the Carlin-Cortez belt in Nevada, could become the most important gold discovery of the century.
According to the updated studies presented, the deposit has the potential to produce between 600,000 and 750,000 ounces of gold per year, positioning it among the mines of the highest quality and scale worldwide.
In addition, the results confirm that the Fourmile project contains exceptionally high-quality ore, has a long life and access to existing infrastructure through its Nevada Gold Mines joint venture with Newmont.
Unique combination
Currently, the resource estimate stands at 1.4 million ounces in the measured and indicated category, and 6.4 million ounces in the inferred category. Ongoing drilling suggests that up to 15 million additional ounces could still be defined, which would significantly expand its projection.
At a mining conference in Colorado Springs, Barrick CEO Mark Bristow was emphatic: ‘Fourmile is quickly becoming the largest and highest-grade gold discovery of the century. Very few projects in the world today can offer this combination of grade, scale and cash flow.’
Low costs and long life
The company expects underground development to begin in 2026, once the ongoing permitting process is complete. Estimated development capital is between $1.5 billion and $1.7 billion, a moderate figure thanks to the project’s location adjacent to existing processing plants.
Barrick estimates that maintenance costs will remain between $650 and $750 per ounce, below current industry averages, making Fourmile one of the most profitable gold mines globally.
Favourable geology
Geological studies highlight that Fourmile is located in an area of breccias with a steep incline, offering solid geotechnical conditions for large-scale exploitation. In addition, much of the ore would be monorefractory, simplifying and reducing the cost of processing compared to other more complex deposits in Nevada.
If projections are met, Fourmile could reposition Barrick Mining among the world’s leading gold producers. With sustainable production and competitive costs, the discovery reinforces the company’s vision of focusing on first-rate assets with the capacity to generate value for decades.