African Barrick’s
North Mara gold mine
London, England — MININGREVIEW.COM — 02 December 2010 – African Barrick Gold is aiming to build an underground operation beneath existing open pits, after finding more gold reserves at its North Mara mine in Tanzania.

In a statement released here today, the London-listed company declared an initial resource of
370 000 ounces beneath two open pit operations at North Mara. “The discovery provides the potential to develop a substantial underground operation at the Gokona and Nyabigena deposits with an attractive grade profile,” it added.

The statement went on to say that further drilling early next year was expected to boost the underground resource to more than 1Moz.

“This initial underground resource at North Mara underpins our confidence in the prospectivity of the region, and its potential to deliver significant incremental ounces to our future production profile,” said chief executive Greg Hawkins.

North Mara, consisting of three open pits, is one of four mines run by African Barrick in northwest Tanzania. The company is majority-owned by Barrick Gold Corporation, the world’s biggest gold producer.