Barrick’s Fourmile Project Poised to Become Century’s Largest Gold Discovery
Barrick Mining’s Nevada Fourmile Project Could Rank Among World’s Top 10 Gold Producers
Barrick Mining has positioned its Nevada Fourmile project as one of the most important gold discoveries in decades, with new studies indicating it could become a global top-tier producer and reshape the industry’s cost curve.
On Tuesday, the Toronto-based miner released an updated preliminary economic assessment (PEA), highlighting Fourmile’s rare combination of grade, scale, and longevity. The report confirmed the project’s potential to qualify as a Tier 1 mine — reserved for large, low-cost, long-life operations.
“Fourmile is emerging as a multi-generational project,” said Barrick president and CEO Mark Bristow, speaking at the Mining Forum Americas in Colorado Springs. He added that ongoing drilling could double the resource base by year-end, with exploration pointing to 32–34 million tonnes grading 15–16 g/t outside the current 2024 mineral resource estimate. “Fourmile is rapidly competing to be the largest and highest-grade gold discovery this century.”
According to Bristow, the updated PEA shows Fourmile could become one of the world’s top 10 gold producers, delivering 600,000–750,000 ounces per year with industry-leading operating cash flows.
“Very few projects anywhere in the world today can offer this combination of grade, scale, and cash flow,” he said. “Fourmile has the potential to reset the industry cost curve.”
The project’s location next to the Carlin-Cortez complexes of Nevada Gold Mines — co-owned by Barrick and Newmont — provides access to critical processing infrastructure, reducing capital requirements.
Another key advantage is geometallurgy. Unlike the nearby Goldrush deposit, which is double refractory, a significant portion of Fourmile’s ore is single refractory, allowing for lower-cost, more flexible processing at existing Nevada facilities.
“Finding gold at these grades anywhere is exceptional — finding it at this scale, next to multiple existing plants, is truly remarkable,” Bristow said.
Barrick plans to accelerate exploration with 20+ drill rigs and approximately 120 km of directional drilling in 2026. By 2028, the company targets 370 km of surface drilling and 80 km of underground drilling to define indicated and inferred resources.
In parallel, Barrick is advancing the permitting of the Bullion Hill exploration decline, with portal construction and underground development set to begin in 2026. From 2027, the ongoing Goldrush development will provide underground drill access to deeper ore zones.
By 2029, Barrick expects to have 34 km of underground development linking Bullion Hill and Goldrush, paving the way for test stoping and eventual production ramp-up.
As Fourmile comes online, it will displace lower-grade stockpiles (1.8 g/t) feeding the Carlin-Cortez processing facilities, adding significant low-cost production to the Nevada Gold Mines portfolio.
According to Mineral Resource Management executive Simon Bottoms, the project’s geology sets it apart. “The steeply dipping, structurally controlled breccia domain is both high grade and technically favourable for large-scale mining,” he said.
Bristow concluded: “We believe Barrick represents one of the most compelling investment cases in gold and copper. Fourmile, alongside our other growth projects, exemplifies how our Tier 1 asset strategy sets Barrick apart and underscores the significant upside that lies ahead.”
