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Goldcorp Inc.
Summary
| Project: | Red Lake | |
|---|---|---|
| Deposit: | Red Lake | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 10/26/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-10-2016: Goldcorp Inc. announces a Resource Estimation report for its Red Lake deposit at the Red Lake project. Updated ore reserves and mineral resources. VANCOUVER, Oct. 26, 2016 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) today reported updated reserve | |
| Resources: | (Reserve, P+P): 7.55Mt @ 8.36g/t Au for 2.03Moz Au contained | |
| CP/QP: | [Overall Report]: Gil Lawson (Internal) | |
| ABSTRACT: | VANCOUVER, Oct. 26, 2016 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) today reported updated reserves and resources as of June 30, 2016. Proven and probable gold mineral reserves increased by 4%to 42.3 million ounces. The increase was primarily related to the recently acquired Coffee project, with the operating mines and projects essentially replacing depletion due to production. Maintained gold reserve grade of 1.06 g/t. Following an increase of $100 per ounce in the gold price assumption, the focus on increasing net asset value ("NAV") continued to deliver high quality economic ounces. Measured and indicated gold mineral resources increased by 16%to 44.0 million ounces and inferred gold mineral resources increased by 22% to 22.5 million ounces. The significant increase in mineral resources was primarily related to Porcupine's new Dome Century project (see below) and the acquisition of Coffee. Inaugural gold indicated mineral resource of 4.5 million ounces and 0.9 million ouncesof gold inferred mineral resource announced at Porcupine'snew Dome Century project; concept study for potential new large-scale open pit mine underway. The dimensions of this mineralized envelope and a preliminary analysis indicate the potential to extend mineralization well below the existing pit. "With a portfolio of world class assets on large land packages in prolific mining camps, we have the potential to significantly expand and upgrade our current reserve and resource base in 2017 and beyond," said Paul Harbidge, Senior Vice-President, Exploration, "We have just begun to explore the surface at our newest operating assets - Cerro Negro and Éléonore. At the more established camps, such as Red Lake and Porcupine, we are in the process of undertaking generative studies in the districts and re-interpreting the geological information to extend the reserves and resources." "Since joining in August I have refined the exploration strategy, strengthened the exploration team, and worked with the site teams in the new decentralized model to ensure we are focused on generating increasing NAV through the drill bit." | |
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