Barrick Mining stock advances Pen Gold exploration toward 2027 drilling

Published on 11/04/2026 at 13:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barrick Mining stock heads into a longer-term exploration push at Ontario's Pen Gold Project. Drilling remains tentatively set for late 2027.

Pen Gold program adds long-term exploration optionality

GFG Resources said Barrick plans a broader 2027 exploration campaign at the Pen Gold Project in Ontario.
Barrick has committed at least C$4.0 million over three years, including 5,000 metres of diamond drilling.
Initial diamond drilling is tentatively targeted for the fourth quarter of 2027, leaving the near-term investment case focused on production and cash flow.

Barrick Mining, CA06849F1080, Illustration mit AI erstellt.

GFG Resources outlined Barrick's planned exploration work at the Pen Gold Project in Ontario on Monday, November 2, 2026. The announcement, carried in a GlobeNewswire release hosted by BNN Bloomberg, sets out a broader 2027 program at the project southwest of Timmins, Ontario.

Exploration plan stretches into 2027

Barrick is funding and operating the work under an earn-in agreement with GFG. The plan builds on a US$500,000 exploration program in 2026 and includes a property-wide airborne gravity survey in the fourth quarter of 2026. The survey is intended to support geological interpretation and target generation beneath cover.

The proposed 2027 campaign includes approximately 240 base-of-till holes, split between priority areas and infill work, followed by geological mapping and rock sampling in the second and third quarters. Initial diamond drilling is tentatively planned for the fourth quarter of 2027, with the release noting that the timing and scope remain subject to confirmation.

Under the earn-in agreement, Barrick has a firm commitment to spend at least C$4.0 million during the first three years, including a minimum of 5,000 metres of diamond drilling before the agreement's third anniversary. GFG said Barrick's initial mapping and rock-sampling work was completed in September and October, with approximately 130 rock samples collected for analysis.

For investors, Pen adds a longer-dated exploration option rather than an immediate production driver. The proposed work is designed to refine gold anomalies and identify targets for drilling, but the release does not provide a resource estimate or near-term output forecast. The project's potential therefore remains dependent on exploration results, permitting and the eventual success of drill testing.

Barrick Mining stock traded at 34.58 euros on Lang & Schwarz at 13:08 CET on Wednesday, November 4, 2026; investors can follow the real-time quote of Barrick Mining stock.

Barrick Mining Corporation

ISIN: CA06849F1080
Lang & Schwarz quote: 34.58 euros at 13:08 CET on November 4, 2026
Project: Pen Gold Project, Ontario
Exploration commitment: At least C$4.0 million and 5,000 metres of drilling over three years

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Further developments can be followed in more news and analyses on Barrick Mining stock.