Barrick Mining stock expands Pen Gold exploration toward 2027 drilling

Published on 11/05/2026 at 13:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barrick Mining stock gains a longer-dated exploration angle as Pen Gold work advances toward tentative drilling in late 2027. The program remains subject to confirmation.

Pen Gold Program Extends Exploration Horizon

Barrick plans geophysics, till sampling, mapping and target development at Pen during 2026 and 2027.
Initial diamond drilling is tentatively planned for the fourth quarter of 2027, with timing subject to confirmation.
The program supports longer-term exploration optionality while near-term value remains tied to operating execution and future exploration results.

Barrick Mining, CA06849F1080, Illustration mit AI erstellt.

GFG Resources said on Monday, November 2, 2026, that Barrick Gold plans an expanded exploration program at the Pen Gold Project southwest of Timmins, Ontario. The GlobeNewswire release hosted by BNN Bloomberg said Barrick is funding and operating the work under its earn-in agreement with GFG.

The plan builds on an initial program of 500,000 US dollars in 2026. Barrick has proposed a property-wide airborne gravity survey in the fourth quarter of 2026, followed by approximately 240 base-of-till holes in the first quarter of 2027. The work is intended to refine gold anomalies and help identify their potential bedrock sources.

Exploration Work Builds Toward Drilling

Further geological mapping and rock sampling are planned for the second and third quarters of 2027. GFG said Barrick completed initial mapping and sampling in September and October, collecting approximately 130 rock samples for analysis and integration into a revised geological model.

Initial diamond drilling is tentatively planned for the fourth quarter of 2027 and could continue into the first half of 2028. GFG said Barrick has a firm commitment to spend at least 4.0 million Canadian dollars during the first three years of the earn-in, including a minimum of 5,000 metres of diamond drilling. The scope and timing remain subject to confirmation and may change as results and target priorities develop.

Barrick's work covers targets including Muskego, Chabot, Slate Rock, Crawford, Deerfoot and Reeves. The release describes gold-in-till anomalies extending over several kilometres and mineralized trends with limited drilling, but it provides no resource estimate or near-term production forecast. For investors, Pen therefore adds exploration optionality rather than an immediate output contribution.

Barrick Mining stock traded at 36.10 euros on Lang & Schwarz at 13:44 CET on Thursday, November 5, 2026. The real-time quote of Barrick Mining stock is available for ongoing monitoring.