Exploration rigs roar at Barrick’s Buly in Tanzania
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Exploration rigs roar at Barrick’s Buly in Tanzania
Barrick continues exploration at Bulyanhulu on the Sukumaland Greenstone Belt.
By Leon Louw founder of WhyAfrica and Endorphin Expeditions and editor of the WhyAfrica magazine
Bulyanhulu Gold Mine continues advancing exploration at Buly, targeting extensions of Bulyanhulu-style mineralisation that occurs on six of the seven license areas that formed part of Canadian listed Lake Victoria Gold’s (LVG’s) Tembo project.
These license areas were acquired by Barrick in an agreement with LVG in 2022.
Strategically located
The project is strategically located near Barrick’s Bulyanhulu Gold Mine. Under the terms of the Asset Purchase Agreement LVG could receive up to USD45-million in contingent payments from Barrick, dependent on future discoveries of mineral ounces.
According to Simon Benstead, Executive Chairman and CFO of Lake Victoria Gold, a combination of Aircore Drilling (AC), geochemical screening and Reverse Circulation (RC) drilling has refined target areas, confirming the prospectivity of key geological structures.
“As Buly advances its exploration efforts, we are excited by the potential scale of the project. With systematic drilling, Buly is unlocking key geological structures that may host significant mineralisation.
Building on the excellent results from 2024, Buly is preparing for an expanded exploration program in 2025.
A giant in the Sukumaland Greenstone Belt
Tembo is adjacent to the Bulyanhulu underground mine, one of the giant gold deposits in the Sukumaland Greenstone Belt.
Bulyanhulu has a total resource of more than 20-million ounces of gold (including historical mined, current reserve and resource).
The inner arc of this greenstone belt is also host to the Buck Reef Mine of TRX Gold Corporation and the Tuluwaka Gold Mine, formerly a Barrick operation.
When WhyAfrica visited Bulyanhulu during the 2024 WhyAfrica Road Trip through South Africa, Zimbabwe, Mozambique, Malawi, Tanzania and Kenya, six rigs were on site drilling to the west and northwest of current operations.
Drilling results were excellent down to a depth of 3.5km and the exploration team at Bulyanhulu were extremely optimistic about more expansions in the future.
Barrick looks at brownfields and greenfields
Barrick’s success across Africa has been built on investment in exploration and aggressive drilling programmes – brownfields and greenfields. It is no different at Bulyanhulu where the company continues to define additional opportunities to replace and expand depleted reserves, further supporting their Life of Mine (LoM) flexibility.
Remember to follow the 2025 WhyAfrica Road Trip which will take place in August/September/October this year. WhyAfrica partners, members, sponsors and advertisers will be able to follow our road trip virtually on the WhyAfrica Road Trip Channel. To be part of the 2025 WhyAfrica Road Trip story give us a call or register on the WhyAfrica website.
Exploration rigs roar at Barrick’s Buly in Tanzania
