Barrick Chile Plans to Launch 62-Hole Exploration Drilling at El Alto in November

en.Wedoany.com Reported - On October 28, Barrick Chile disclosed that it plans to launch drilling operations at the El Alto mineral exploration project in Chile's Atacama Region in November, with an intended investment of approximately US$35 million to drill 62 holes from 43 drilling platforms. The drilling work will continue over two summer operating seasons to obtain new geological and metallurgical data, providing a basis for subsequent studies of ore processing options and evaluation of potential mining investment.

El Alto is located in the Alto del Carmen area. The drilling area lies within existing mining rights inside the closure area of the Pascua project, but will not use Pascua's existing infrastructure or interfere with its closure works. The drilling will utilize existing roads and be supported by a temporary mobile camp.

The project's Environmental Impact Statement was approved by the Atacama Environmental Assessment Commission in January 2026. Under the project plan, the maximum water withdrawal during drilling operations will be 135 cubic meters per day, or approximately 1.56 liters per second; each summer operating season is expected to provide about 75 jobs.

Barrick stated that the drilling will update geological samples obtained in the area about 20 years ago and collect new metallurgical samples to test currently available ore processing technologies. El Alto remains a mineral exploration project at this stage, and after drilling is completed, a decision on whether to proceed with subsequent mine investment will need to be made based on geological, metallurgical, technical and economic results.