Goldcorp Reports Updated Reserves and Resources; Provides Overview of Renewed Exploration Strategy and Results
Highlights
- 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 ounces of gold inferred mineral resource announced at Porcupine's new 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 ?l?onore. At the more established camps, such as
"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."
Exploration Strategy
Reserves and Resources as of
Complete mineral reserve and mineral resource data including tonnes, grades and ounces can be found and have been posted at www.goldcorp.com. The following summary accounts for the changes in proven and probable gold reserve ounces. For additional information on the 2016 and 2015 mineral reserves and mineral resources ("MRMR") refer to the MRMR tables set forth below and are available at www.goldcorp.com.
Proven and probable reserves as of December 31, 2015 |
40.7 moz |
Mined ounces depleted from January 1 to June 30, 2016 |
(1.4 moz) |
Changes from business transaction1 |
2.2 moz |
Discovered ounces and converted resources to June 30, 2016 |
1.1 moz |
Reduced ounces due to model updates June 30, 2016 |
(1.3 moz) |
Net change due to gold price increase from \\$1,000 to \\$1,200 an ounce |
1.0 moz |
Proven and probable reserves as of June 30, 20162 |
42.3 moz |
1 |
Relates to reserves for the Coffee project acquired on July 19, 2016 through the acquisition of Kaminak Gold Corporation |
2 |
Exception is the Coffee project as noted and includes only updates to Goldcorp operated assets and 100% owned projects |
Approximately 1.1 million ounces of proven and probable gold mineral reserves were added due to the conversion of resources from exploration drilling, this was largely offset by resource modeling changes, primarily at Los Filos and ?l?onore. A positive addition of 1.0 million ounces of proven and probable gold mineral reserves resulted from a change in the gold price assumption from
The Company has undertaken a systematic review of its mineral resource and mineral reserve estimation practices and implemented improvements. This has resulted in significant changes to the site based resource models which offset much of the positive effects of the increasing gold price and exploration success at several underground operations. This rigorous approach has resulted in marginal material being removed from the mineral reserves. What is expected from this work is more predictable performance going forward and assurance that only high quality mineral reserves are scheduled for production. In addition, the Company changed the cycle on reporting reserves and resources from
Highlights:
Porcupine
Proven and probable gold mineral reserves as of
A gold indicated mineral resource of 4.5 million ounces (130.6 million tonnes grading 1.07 grams per tonne) and 0.9 million ounces (35.0 million tonnes grading 0.81 grams per tonne) of gold inferred mineral resource was announced at Porcupine's new Dome Century project and a concept study for a potential new large-scale open pit mine is underway. A recent update to the geological model for Porcupine's Dome open pit revealed additional mineralization as a halo to high grade material which was previously mined from underground. The dimensions of this mineralized envelope and a preliminary analysis indicate the potential to further extend open pit mining well below the existing pit. With the completion of the resource estimate, the concept study is evaluating the development of an expanded open pit on this zone. The concept study is expected to be completed in the first quarter of 2017 and, with positive results expected, will likely proceed for internal approval to fund a pre-feasibility study.
The existing Dome open pit was mined between 1994 and 2006, producing 2.7 million ounces from approximately 52.4 million tonnes processed through the current Porcupine mill. Processing options and metallurgical response of the Dome open pit ore are well understood and historical recoveries were in the 90% range, although detailed test work is underway to confirm these expected recovery ranges for the Dome Century project.
Elsewhere at Porcupine, ongoing underground exploration work continues on two targets (
Probable gold mineral reserves increased to 0.95 million ounces as of
The
Pe?asquito
Proven and probable gold mineral reserves as of
Infill drilling continues to provide better definition of mineralization surrounding the breccia pipes in the Sotol, Puente and Las Palmas zones. Data from drilling on the Noche Buena deposit, five kilometers north of Pe?asquito, will be reviewed to assess the potential for additional oxide resources and to evaluate the sulphide potential, prior to committing to further exploration work.
At the Santa Rosa prospect 20 kilometers south-east of Pe?asquito, initial drilling in 2015 returned promising results, including mineralized breccias similar to those at Pe?asquito. Follow-up drilling is awaiting the necessary permits.
Cerro Negro
Proven and probable gold mineral reserves as of
Following the acquisition of
Cerro Negro and the subsequent construction of the mine, exploration has concentrated on the conversion of resources at the known epithermal veins as well as the discovery of new high grade veins. The strategy of drilling on structures along strike from known veins continues to prove successful, most notably at Emilia and Mariana Norte Este B.
Recent tax reforms have improved the climate for exploration of new veins within
Santa Cruz. Integration and interpretation of geological, geophysical and field data has identified a total of 32 exploration targets and an aggressive program is about to commence.
Silica Cap will be the priority target for scout drill testing. This target has a surface expression of 1.2 kilometers and is thought to represent a strong silica alteration zone, potentially at the top of a mineralized structure.
?l?onore
Proven and probable gold mineral reserves totaled 4.57 million ounces as of
The focus of exploration at ?l?onore since the acquisition of the project has been on the extensions of known mineralization, which has now been traced to a vertical depth of 1,500 metres and is still open down plunge. Mine exploration continues to test opportunities within the mine footprint, utilizing the increased understanding of orebody geometry gained during the first years of mining.
In addition, three priority exploration areas have been defined within a 10 kilometer radius of the current mine. A northeast-southwest glacial float train contains visibly mineralized boulders, several of which have returned anomalous high grade gold from grab samples. Ground geophysics is underway to provide better definition of the possible bedrock source and to site future trenches and/or scout drill holes, planned for the first quarter of 2017. The Old Camp and Mayappo targets represent a style of diorite-hosted gold-copper mineralization similar to that exploited at the Troilus open pit mine. Locally significant values of gold have been returned by bedrock grab samples at both sites and at the Old Camp continuity of alteration and mineralization is reported in historical mapping and trenching. The information from these targets is being reviewed and reinterpreted to guide a field program in 2017.
The improved understanding of the mineralizing system at ?l?onore will be utilized to develop a predictive model that can be applied elsewhere in the region where there is potential to identify new opportunities through exploration.
Proven and probable gold mineral reserves as of
At
The tight spaced drilling at the Upper Main Zone of
At HG Young, gold indicated mineral resources as of
At HG Young, exploration continues to define the scale of the resource. Recent drilling has identified a new mineralized structure at ~17L (777 metres below surface), characterized by a northwest-southeast trending (mine trend) shear zone with numerous quartz veins, plunging to the southwest. The style of mineralization and plunge is consistent with the upper HG Young mineralization. The target is open both up and down plunge. To date four holes have intersected this structure from existing development on 14 Level, and have returned results similar to those seen at higher levels. An additional eight holes are planned to test this concept further during the fourth quarter of 2016.
During 2017, a district scale generative study will be undertaken over the entire
Musselwhite
Proven and probable gold mineral reserves totaled 1.69 million ounces as of
Exploration at Musselwhite in 2016 concentrated on reserve replacement and definition in the Upper Lynx and PQ Deeps. Currently, the majority of the reserves occur within the eastern limb of a major regional fold, with mineralization hosted in a metamorphosed iron formation. More recently drilling has been focused in the complimentary western limb, where gold mineralization occurs within metasedimentary and metavolcanic rocks in addition to iron formation. Systematic exploration drilling of the West Limb began in 2014. Encouraging results led to a more detailed drill program in 2015 that defined Saddle South, Saddle North, Spur, Spur East, Spur West and Bandit mineralized zones. This success saw expanded exploration efforts in 2016 defining the Revolver and the Gonzo zones, and an overall known mineralized strike length of 1.4 kilometers.
West Limb exploration in 2017 will continue with detailed drilling focusing on all zones, as well as step outs both up and down plunge to expand the mineralized strike length. Underground drill platforms have been prepared for exploration drilling in the fourth quarter of 2016 and into 2017. A surface drill program to delineate West Limb mineralization to surface was started during the first quarter of 2016, but was incomplete due to an early thaw. This program will be continued during the winter months of 2016-2017, weather and freeze dependent due to swamp and muskeg ground conditions.
Coffee
Proven and probable gold reserves totaled 2.16 million ounces as of
Coffee Deposit Extensions
This season's drill program identified Supremo–style mineralization in the Arabica, Supremo T8-9 and Supremiato zones, which comprise strike extensions and parallel structural systems proximal to the existing mine plan and planned infrastructure.
Diamond core drilling at Arabica has delineated several bedrock mineralized structures over a 500 metre x 300 metre area adjacent to the deposit access road, with highlight intercepts of 6.59 g/t gold over 4 metres from 26 metres downhole (CFD603), and 2.01 g/t gold over 16 metres from 84 metres downhole (CFD604). At the Supremiato zone (the intersection of the Supremo T3 and Macchiato mineralized trends) drilling intersected 8.27 g/t gold over 6 metres from 87 metres downhole and 5.04 g/t gold over 5 metres from 206 metres downhole (CFD615). Follow-up drilling is underway aimed at exploring the extents of mineralization along strike, delineating geometries and potential for near surface oxide mineralization, and for areas of increased dilation, fluid flow and mineralization in zones of structural complexity.
The Company has also continued to explore the periphery of the Latte deposit, in particular the western strike continuation of the Latte shear zone which is interpreted from geophysics to extend beneath cover over several kilometres to the west of the deposit. Systematic scout RC drilling on broad fences identified elevated gold and arsenic in overlying colluvium located 650 metres west of the currently planned open pit. Subsequent follow-up with a single diamond core hole (CFD620) intersected a broad fault zone in the underlying bedrock, containing an interval over 10 metres downhole width of deformation and alteration typical of Latte–style oxide mineralization. Assays are pending for this zone. The fault zone is recessive and lies beneath approximately 50 metres of colluvial cover. The broad deformation zone is interpreted as the intersection between the Latte and Kona-
Western Coffee
Previous exploration from 2010 to 2015 focused almost exclusively on the eastern portion of Coffee, centered on the Supremo-Latte area. The western portion of the Coffee mineralized system comprises a gold-in-soil anomaly equivalent in size and tenor to the Supremo-Latte soil anomaly. The granite hosted Western Coffee anomaly covers 5.5 kilometres by 2.5 kilometres, and is interpreted to overlie four strike extensive east-northeast trending mineralized corridors with strike extents ranging from 2.5 kilometres to 4 kilometres. Minor systematic drill testing in the eastern parts of two of the mineralized trends has delineated the Kona and Kona North deposits.
Drilling completed at the Espresso and Americano zones in the third quarter of 2016, comprised broad spaced fences of scout RC drill holes and deeper RC targeted to follow-up previously identified zones. Drilling successfully delineated and constrained the location of the bedrock structures which underlay the surface gold-in-soil trends. Highlight intercepts include 1.20 g/t gold over 21.3 metres from 56.4 metres downhole (CFR1151) at Espresso, and 2.92 g/t gold over 7.6 metres from 35 metres downhole (CFR1176) at Americano. Follow-up drilling is planned to systematically test the bedrock mineralized shear zones in 2017, targeting possible flexures, splays and cross-cutting structures which could contain increased fluid flow and mineralization.
Sulphide Targets
Within the Coffee deposit gold grades in sulphide mineralization are equivalent to those in the oxide zone. There is no primary vertical zonation or secondary enrichment/depletion, and all mineralized structures delineated to date remain open down dip. Diamond drill holes have been completed at Latte to collect samples for metallurgical test work on the sulphide mineralization with the objective of identifying a process path which would support further exploration of the sulphide potential at Coffee. If a metallurgical process path can be identified the Company may consider deeper exploration programs, commencing in 2017, to test the extent and geometry of mineralization located below the currently planned open pits, with consideration at a conceptual level to both deepening of the pits and underground extraction.
New Targets
Within the broad Coffee mineral system, which extends approximately 17 kilometres east-west by 5 kilometres north-south, numerous individual discreet gold-in-soil anomalies remain un-tested or under-explored. The Company plans to systematically test all anomalies over the coming years, within a target prioritization framework based on geologic filters and proximity to planned mine infrastructure.
The Kazaar gold-in-soil anomaly lies approximately 4.5 kilometres to the northwest of the Latte deposit, is hosted in the same stratigraphic package as Latte, and comprises a similar east-west orientation and strike extent to the Latte system. The Kazaar gold-in-soil anomaly can be traced contiguously over approximately 2.7 kilometres, comparable to the Latte-Double Double structural corridor. Soil sampling completed early in the summer of 2016 provided higher resolution of the anomaly, and two diamond core holes drilled in
The Coffee field team is currently completing the final RC drilling programs for the 2016 field season, following up on Supremiato, Arabica and Supremo T8-9 results, and expect to close the camp by mid-November.
A table of significant intercepts is provided below in Table 1.
Table 1: Selected Coffee drill results (drill coordinates available below)
RC Drilling |
Prospect |
Hole no. |
From |
To |
Drilled width* |
Au g/t uncapped |
Supremo T8 |
CFR1002 |
9.14 |
10.67 |
1.53 |
2.73 |
Supremo T3 North |
CFR1044 |
38.10 |
53.34 |
15.24 |
1.00 |
Supremo T3 North |
CFR1048 |
15.24 |
18.29 |
3.05 |
3.94 |
Supremo T3 North |
CFR1045 |
1.52 |
6.10 |
4.58 |
2.31 |
Supremo T3 North |
CFR1049 |
39.62 |
44.20 |
4.58 |
1.47 |
Supremo T1-2 |
CFR1118 |
1.52 |
4.57 |
3.05 |
3.69 |
Supremo T1-2 |
CFR1120 |
42.67 |
45.72 |
3.05 |
3.05 |
Supremo T1-2 |
CFR1115 |
28.96 |
30.48 |
1.52 |
2.22 |
Latte |
CFR1030 |
48.77 |
54.86 |
6.09 |
0.74 |
Kona |
CFR1129 |
1.52 |
4.57 |
3.05 |
1.68 |
Espresso |
CFR1151 |
56.39 |
77.72 |
21.33 |
1.20 |
Espresso |
CFR1148 |
99.06 |
108.2 |
9.14 |
0.75 |
Espresso |
CFR1168 |
44.20 |
50.29 |
6.09 |
1.02 |
Espresso |
CFR1150 |
38.10 |
41.15 |
3.05 |
1.74 |
Espresso |
CFR1179 |
12.19 |
16.76 |
4.57 |
1.12 |
Espresso |
CFR1169 |
39.62 |
42.67 |
3.05 |
1.46 |
Double Double |
CFR1076 |
32.00 |
35.05 |
3.05 |
1.62 |
Double Double |
CFR1088 |
41.15 |
42.67 |
1.52 |
2.97 |
Decaf |
CFR1103 |
12.19 |
16.76 |
4.57 |
2.16 |
Decaf |
CFR1098 |
10.67 |
13.72 |
3.05 |
1.87 |
Americano |
CFR1176 |
35.05 |
42.67 |
7.62 |
2.92 |
Americano |
CFR1199 |
45.72 |
53.34 |
7.62 |
1.53 |
Americano |
CFR1182 |
22.86 |
28.96 |
6.10 |
0.93 |
Core Drilling | |||||
Prospect |
HoleID |
From |
To |
Drilled width* |
Au (g/t) (uncapped) |
Supremo T8 |
CFD0607 |
44 |
52 |
8 |
0.90 |
Supremo T8 |
CFD0608 |
247 |
260 |
13 |
1.52 |
Supremo T8 |
CFD0609 |
84 |
88 |
4 |
2.29 |
Supremo T8 |
CFD0611 |
220 |
231 |
11 |
2.36 |
Supremiato |
CFD0612 |
201 |
206 |
5 |
1.44 |
Supremiato |
CFD0613 |
125 |
127 |
2 |
5.70 |
Supremiato |
CFD0615 |
87 |
93 |
6 |
8.27 |
Supremiato |
CFD0615 |
206 |
211 |
5 |
5.04 |
Supremiato |
CFD0616 |
24 |
32 |
8 |
1.20 |
Prospect |
HoleID |
From |
To |
Drilled width* |
Au (g/t) (uncapped) |
Supremiato |
CFD0616 |
61 |
63 |
2 |
3.38 |
Latte |
CFD0620 |
68 |
73 |
5 |
3.22 |
Arabica |
CFD0603 |
26 |
30 |
4 |
6.59 |
Arabica |
CFD0603 |
195 |
202 |
7 |
2.02 |
Arabica |
CFD0604 |
33 |
36 |
3 |
3.66 |
Arabica |
CFD0604 |
84 |
100 |
16 |
2.01 |
Latte Metallurgical Drilling | |||||
Prospect |
HoleID |
From |
To |
Drilled width** |
Au (g/t) (uncapped) |
Latte |
CFD0617 |
193 |
225 |
32 |
3.83 |
Latte |
CFD0617 |
233 |
312 |
79 |
1.69 |
Latte |
CFD0618 |
44 |
70 |
26 |
11.05 |
Latte |
CFD0618 |
208 |
237 |
29 |
0.70 |
Latte |
CFD0618 |
292 |
331 |
39 |
1.07 |
*For these widely-spaced holes on exploration targets, no true width estimate is given, however true width is usually approx. 2/3 of drilled width for structures at Coffee. |
**Latte metallurgical holes were drilled down the dip of the structure to provide continuously mineralized samples for testing. Width of the Latte structure is typically 10-15 metres where intersected by CFD0617, and 25-50 metres where intersected by CFD0618. |
Reserves and Resources Tables
GOLDCORP INC GOLD AND SILVER RESERVES AND RESOURCES SUMMARY TABLE | ||||
As of June 30, 2016 |
As of December 31, 2015 | |||
Reserves |
Contained Gold (Moz) |
Contained Silver (Moz) |
Contained Gold (Moz) |
Contained Silver (Moz) |
Proven |
18.8 |
462.8 |
19.4 |
478.5 |
Probable |
23.5 |
231.2 |
21.3 |
226.1 |
Proven & Probable |
42.3 |
694.0 |
40.7 |
704.6 |
Resources |
||||
Measured |
8.1 |
138.6 |
6.7 |
126.8 |
Indicated |
35.9 |
363.2 |
31.1 |
351.5 |
Measured & Indicated |
44.0 |
501.8 |
37.8 |
478.3 |
Inferred |
22.5 |
77.2 |
18.4 |
68.0 |
GOLDCORP INC PROVEN AND PROBABLE RESERVES (1)(4)(5) Based on attributable ounces | |||||
GOLD |
As of June 30, 2016 |
As of Dec. 31, 2015 | |||
Mt |
Au g/t |
Moz |
Moz | ||
Alumbrera (37.5%) |
Argentina |
10.95 |
0.35 |
0.12 |
0.12 |
Borden |
Canada |
4.12 |
7.14 |
0.95 |
0.86 |
Camino Rojo |
Mexico |
75.52 |
0.70 |
1.70 |
1.62 |
Cerro Negro |
Argentina |
16.66 |
9.06 |
4.85 |
4.66 |
Coffee |
Canada |
46.36 |
1.45 |
2.16 |
|
El Morro (50.0%) |
Chile |
299.53 |
0.46 |
4.46 |
4.46 |
?l?onore |
Canada |
23.44 |
6.07 |
4.57 |
5.35 |
Los Filos |
Mexico |
34.56 |
1.29 |
1.43 |
1.46 |
Marlin |
Guatemala |
0.50 |
4.10 |
0.07 |
0.13 |
Musselwhite |
Canada |
8.21 |
6.39 |
1.69 |
1.72 |
Pe?asquito Heap Leach |
Mexico |
10.47 |
0.40 |
0.13 |
0.30 |
Pe?asquito Mill |
Mexico |
589.00 |
0.52 |
9.89 |
9.87 |
Porcupine |
Canada |
45.70 |
1.55 |
2.28 |
2.13 |
Pueblo Viejo (40.0%) |
Dominican Republic |
62.58 |
2.97 |
5.97 |
5.97 |
Red Lake |
Canada |
7.55 |
8.36 |
2.03 |
2.08 |
TOTAL GOLD |
1,235.16 |
1.06 |
42.29 |
40.73 | |
SILVER |
Mt |
Ag g/t |
Moz |
Moz | |
Camino Rojo |
Mexico |
75.52 |
14.22 |
34.53 |
32.37 |
Cerro Negro |
Argentina |
16.66 |
66.70 |
35.73 |
36.07 |
SILVER |
As of June 30, 2016 |
As of Dec. 31, 2015 | |||
Mt |
Ag g/t |
Moz |
Moz | ||
Los Filos |
Mexico |
34.56 |
7.05 |
7.83 |
10.55 |
Marlin |
Guatemala |
0.50 |
191.04 |
3.10 |
7.54 |
Pe?asquito Heap Leach |
Mexico |
10.47 |
22.56 |
7.60 |
15.41 |
Pe?asquito Mill |
Mexico |
589.00 |
30.05 |
569.07 |
566.55 |
Pueblo Viejo (40.0%) |
Dominican Republic |
62.58 |
17.94 |
36.10 |
36.10 |
TOTAL SILVER |
789.31 |
27.35 |
693.96 |
704.59 | |
COPPER |
Mt |
% Cu |
Mlbs |
Mlbs | |
Alumbrera (37.5%) |
Argentina |
11 |
0.34 |
83 |
83 |
El Morro (50.0%) |
Chile |
300 |
0.49 |
3,251 |
3,251 |
Pueblo Viejo (40.0%) |
Dominican Republic |
63 |
0.09 |
130 |
130 |
Relincho (50.0%) |
Chile |
620 |
0.37 |
5,087 |
5,087 |
TOTAL COPPER |
993 |
0.39 |
8,552 |
8,552 | |
LEAD |
Mt |
% Pb |
Mlbs |
Mlbs | |
Pe?asquito Mill |
Mexico |
589 |
0.28 |
3,684 |
3,701 |
TOTAL LEAD |
589 |
0.28 |
3,684 |
3,701 | |
ZINC |
Mt |
% Zn |
Mlbs |
Mlbs | |
Pe?asquito Mill |
Mexico |
589 |
0.69 |
8,927 |
8,886 |
TOTAL ZINC |
589 |
0.69 |
8,927 |
8,886 | |
MOLYBDENUM |
Mt |
% Mo |
Mlbs |
Mlbs | |
Relincho (50.0%) |
Chile |
620 |
0.017 |
239 |
239 |
TOTAL MOLYBDENUM |
620 |
0.017 |
239 |
239 |
GOLDCORP INC MEASURED AND INDICATED RESOURCES (1)(2)(3)(4)(6)
| |||||
GOLD |
As of June 30, 2016 |
As of Dec. 31, 2015 | |||
Mt |
Au g/t |
Moz |
Moz | ||
Alumbrera (37.5%) |
Argentina |
69.30 |
0.35 |
0.78 |
0.78 |
Borden |
Canada |
3.02 |
5.77 |
0.56 |
0.49 |
Camino Rojo |
Mexico |
223.08 |
1.05 |
7.50 |
7.53 |
Cerro Blanco |
Guatemala |
2.05 |
12.69 |
0.84 |
0.84 |
Cerro Negro |
Argentina |
6.84 |
6.23 |
1.37 |
1.28 |
Cochenour |
Canada |
0.60 |
15.03 |
0.29 |
|
Coffee |
Canada |
17.69 |
1.21 |
0.69 |
|
El Morro (50.0%) |
Chile |
46.18 |
0.41 |
0.61 |
0.61 |
?l?onore |
Canada |
5.14 |
5.66 |
0.93 |
0.81 |
Los Filos |
Mexico |
372.56 |
0.84 |
10.04 |
9.65 |
Marlin |
Guatemala |
0.46 |
4.55 |
0.07 |
0.07 |
Musselwhite |
Canada |
2.88 |
4.98 |
0.46 |
0.35 |
GOLD |
As of June 30, 2016 |
As of Dec. 31, 2015 | |||
Mt |
Au g/t |
Moz |
Moz | ||
Noche Buena |
Mexico |
55.00 |
0.37 |
0.65 |
0.63 |
Pe?asquito Heap Leach |
Mexico |
22.56 |
0.21 |
0.15 |
0.26 |
Pe?asquito Mill |
Mexico |
303.49 |
0.27 |
2.66 |
2.20 |
Porcupine |
Canada |
223.22 |
1.19 |
8.52 |
4.59 |
Pueblo Viejo (40.0%) |
Dominican Republic |
65.25 |
2.46 |
5.15 |
5.15 |
Red Lake |
Canada |
4.48 |
16.79 |
2.42 |
2.27 |
San Nicolas (21.0%) |
Mexico |
19.26 |
0.46 |
0.28 |
0.28 |
TOTAL GOLD |
1,443.06 |
0.95 |
43.98 |
37.78 | |
SILVER |
Mt |
Ag g/t |
Moz |
Moz | |
Camino Rojo |
Mexico |
223.08 |
9.02 |
64.72 |
66.70 |
Cerro Blanco |
Guatemala |
2.05 |
40.13 |
2.64 |
2.64 |
Cerro Negro |
Argentina |
6.84 |
52.17 |
11.48 |
9.09 |
Los Filos |
Mexico |
372.56 |
7.82 |
93.64 |
87.63 |
Marlin |
Guatemala |
0.46 |
193.86 |
2.89 |
3.12 |
Noche Buena |
Mexico |
55.00 |
12.35 |
21.84 |
21.19 |
Pe?asquito Heap Leach |
Mexico |
22.56 |
26.38 |
19.13 |
29.45 |
Pe?asquito Mill |
Mexico |
303.49 |
24.51 |
239.14 |
212.15 |
Pueblo Viejo (40.0%) |
Dominican Republic |
65.25 |
14.19 |
29.77 |
29.77 |
San Nicolas (21.0%) |
Mexico |
19.26 |
26.70 |
16.53 |
16.53 |
TOTAL SILVER |
1,070.56 |
14.58 |
501.78 |
478.28 | |
COPPER |
Mt |
% Cu |
Mlbs |
Mlbs | |
Alumbrera |
Argentina |
69 |
0.22 |
340 |
340 |
El Morro (50.0%) |
Chile |
46 |
0.42 |
427 |
427 |
Pueblo Viejo (40.0%) |
Dominican Republic |
65 |
0.08 |
119 |
119 |
Relincho (50.0%) |
Chile |
199 |
0.32 |
1,421 |
1,421 |
San Nicolas (21.0%) |
Mexico |
19 |
1.24 |
527 |
527 |
TOTAL COPPER |
398 |
0.32 |
2,834 |
2,834 | |
LEAD |
Mt |
% Pb |
Mlbs |
Mlbs | |
Camino Rojo |
Mexico |
147 |
0.08 |
260 |
277 |
Pe?asquito Mill |
Mexico |
303 |
0.22 |
1,469 |
1,297 |
TOTAL LEAD |
450 |
0.17 |
1,729 |
1,573 | |
ZINC |
Mt |
% Zn |
Mlbs |
Mlbs | |
Camino Rojo |
Mexico |
147 |
0.27 |
876 |
914 |
Pe?asquito Mill |
Mexico |
303 |
0.54 |
3,600 |
3,175 |
San Nicolas (21.0%) |
Mexico |
19 |
1.68 |
713 |
713 |
TOTAL ZINC |
470 |
0.50 |
5,189 |
4,802 | |
MOLYBDENUM |
Mt |
% Mo |
Mlbs |
Mlbs | |
Relincho (50.0%) |
Chile |
199 |
0.011 |
48 |
48 |
TOTAL MOLYBDENUM |
199 |
0.011 |
48 |
48 |
GOLDCORP INC INFERRED RESOURCES (1)(2)(3)(4)(6)
Based on attributable ounces | |||||
GOLD |
As of June 30, 2016 |
As of Dec. 31, 2015 | |||
Mt |
Au g/t |
Moz |
Moz | ||
Alumbrera (37.5%) |
Argentina |
22.50 |
0.33 |
0.24 |
0.24 |
Borden |
Canada |
2.30 |
5.49 |
0.41 |
0.37 |
Camino Rojo |
Mexico |
17.16 |
0.88 |
0.49 |
0.47 |
Cerro Blanco |
Guatemala |
0.75 |
9.34 |
0.23 |
0.23 |
Cerro Negro |
Argentina |
2.13 |
4.15 |
0.28 |
0.50 |
Cochenour |
Canada |
3.91 |
17.09 |
2.15 |
2.19 |
Coffee |
Canada |
52.35 |
1.31 |
2.21 |
|
El Morro (50.0%) |
Chile |
339.03 |
0.30 |
3.23 |
3.23 |
?l?onore |
Canada |
9.73 |
7.52 |
2.35 |
2.28 |
Los Filos |
Mexico |
124.51 |
1.09 |
4.35 |
3.62 |
Marlin |
Guatemala |
0.04 |
6.68 |
0.01 |
0.01 |
Musselwhite |
Canada |
6.80 |
5.48 |
1.20 |
1.11 |
Noche Buena |
Mexico |
4.94 |
0.22 |
0.03 |
0.03 |
Pe?asquito Heap Leach |
Mexico |
0.04 |
0.01 |
0.00 |
0.01 |
Pe?asquito Mill |
Mexico |
28.22 |
0.30 |
0.27 |
0.19 |
Porcupine |
Canada |
45.15 |
1.64 |
2.38 |
1.64 |
Pueblo Viejo (40.0%) |
Dominican Republic |
1.56 |
1.96 |
0.10 |
0.10 |
Red Lake |
Canada |
4.58 |
17.77 |
2.62 |
2.20 |
San Nicolas (21.0%) |
Mexico |
2.28 |
0.26 |
0.02 |
0.02 |
TOTAL GOLD |
667.97 |
1.05 |
22.54 |
18.42 | |
SILVER |
Mt |
Ag g/t |
Moz |
Moz | |
Camino Rojo |
Mexico |
17.16 |
9.06 |
5.00 |
5.26 |
Cerro Blanco |
Guatemala |
0.75 |
43.61 |
1.06 |
1.06 |
Cerro Negro |
Argentina |
2.13 |
32.06 |
2.19 |
3.11 |
Los Filos |
Mexico |
124.51 |
11.93 |
47.76 |
41.64 |
Marlin |
Guatemala |
0.04 |
333.44 |
0.39 |
0.54 |
Noche Buena |
Mexico |
4.94 |
8.08 |
1.28 |
1.22 |
Pe?asquito Heap Leach |
Mexico |
0.04 |
5.02 |
0.01 |
0.28 |
Pe?asquito Mill |
Mexico |
28.22 |
19.37 |
17.58 |
12.93 |
Pueblo Viejo (40.0%) |
Dominican Republic |
1.56 |
13.93 |
0.70 |
0.70 |
San Nicolas (21.0%) |
Mexico |
2.28 |
17.40 |
1.27 |
1.27 |
TOTAL SILVER |
181.62 |
13.23 |
77.23 |
68.01 | |
COPPER |
Mt |
% Cu |
Mlbs |
Mlbs | |
Alumbrera (37.50%) |
Argentina |
23 |
0.14 |
70 |
70 |
El Morro (50.0%) |
Chile |
339 |
0.35 |
2,595 |
2,595 |
Pueblo Viejo (40.0%) |
Dominican Republic |
2 |
0.04 |
1 |
1 |
Relincho (50.0%) |
Chile |
305 |
0.38 |
2,550 |
2,550 |
COPPER |
As of June 30, 2016 |
As of Dec. 31, 2015 | |||
Mt |
% Cu |
Mlbs |
Mlbs | ||
San Nicolas (21.0%) |
Mexico |
2 |
1.24 |
62 |
62 |
TOTAL COPPER |
671 |
0.36 |
5,279 |
5,279 | |
LEAD |
Mt |
% Pb |
Mlbs |
Mlbs | |
Camino Rojo |
Mexico |
10 |
0.07 |
15 |
16 |
Pe?asquito Mill |
Mexico |
28 |
0.21 |
128 |
107 |
TOTAL LEAD |
38 |
0.17 |
143 |
123 | |
ZINC |
Mt |
% Zn |
Mlbs |
Mlbs | |
Camino Rojo |
Mexico |
10 |
0.24 |
53 |
51 |
Pe?asquito Mill |
Mexico |
28 |
0.31 |
193 |
155 |
San Nicolas (21.0%) |
Mexico |
2 |
0.97 |
49 |
49 |
TOTAL ZINC |
41 |
0.33 |
295 |
255 | |
MOLYBDENUM |
Mt |
% Mo |
Mlbs |
Mlbs | |
Relincho (50.0%) |
Chile |
305 |
0.013 |
88 |
88 |
TOTAL MOLYBDENUM |
305 |
0.013 |
88 |
88 |
*Numbers may not add up due to rounding |
**For additional information on the 2016 and 2015 mineral reserves and mineral resources refer to the MRMR tables that can be found at www.goldcorp.com |
Goldcorp June 30, 2016 Reserve and Resource Reporting Notes: | ||||||||
1 |
All Mineral Reserves or Ore Reserves have been estimated in accordance with the CIM Definition Standards or the JORC Code. The JORC Code has been accepted for current disclosure rules in Canada under NI 43-101 (see below for definition). Subject to note 4 below, all Mineral Reserves, Ore Reserves and Mineral Resources set out in the tables above or elsewhere in this release have been reviewed and approved by Gil Lawson, P.Eng., Vice President of Geology and Mine Planning, Goldcorp, who is a qualified person as defined under National Instrument 43-101. | |||||||
2 |
All Mineral Resources are reported exclusive of those Mineral Resources that were converted to Mineral Reserves. | |||||||
3 |
Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. | |||||||
4 |
Mineral Reserves and Mineral Resources are reported effective June 30, 2016, with the following conditions or exceptions: | |||||||
(i) |
Mineral Reserves and Mineral Resources for Pueblo Viejo are as per information provided by Barrick Gold Corporation effective December 31, 2015. | |||||||
(ii) |
Mineral Reserves and Mineral Resources for Relincho and San Nicolas are as per information provided by Teck Resources Limited effective December 31, 2015. | |||||||
(iii) |
Mineral Reserves and Mineral Resources for Alumbrera are as per information provided by Glencore plc effective December 31, 2015. | |||||||
(iv) |
Mineral Reserves and Mineral Resources for Coffee are as per information provided by Kaminak Gold Corporation effective the transaction date of July 19, 2016. | |||||||
5 |
Mineral Reserves are estimated using appropriate recovery rates and US\\$ commodity prices of \\$1,200 per ounce of gold, \\$18.00 per ounce of silver, \\$2.75 per pound of copper, \\$0.90 per pound of lead, and \\$0.95 per pound of zinc, unless otherwise noted below: | |||||||
(i) |
Alumbrera |
\\$1,095/oz gold, \\$2.54/lb copper | ||||||
(ii) |
Pueblo Viejo |
\\$1,000/oz to 2020, and a long-term gold price of \\$1,200 per ounce from 2021 onwards, \\$16.50/oz silver, \\$3.00/lb copper | ||||||
(iii) |
Relincho |
\\$13.70/lb molybdenum, \\$2.80/lb copper | ||||||
6 |
Mineral Resources are estimated using US\\$ commodity prices of \\$1,400 per ounce of gold, \\$20 per ounce of silver, \\$3.00 per pound of copper, \\$1.00 per pound of lead, and \\$1.00 per pound of zinc, unless otherwise noted below; | |||||||
(i) |
Alumbrera |
\\$1,100/oz gold, \\$2.95/lb copper | ||||||
(ii) |
El Morro |
\\$1,200/oz gold, \\$2.75/lb copper | ||||||
(iii) |
Pueblo Viejo |
\\$1,300/oz gold, \\$17.50/oz silver, \\$3.25/lb copper | ||||||
(iv) |
Relincho |
\\$13.70/lb molybdenum, \\$2.80/lb copper | ||||||
(v) |
San Nicolas |
\\$1,275/oz gold, \\$22.50/oz silver, \\$2.75/lb copper, \\$1.00/lb zinc | ||||||
Drillhole Coordinates for Table 2 (
UTM NAD83 Zone 7 | ||||||
HoleID |
Easting (m) |
Northing (m) |
Elevation (m) |
Length (m) |
Azimuth |
Dip |
CFR1002 |
585355 |
6974300 |
1250 |
52 |
270 |
-49 |
CFR1030 |
581650 |
6973535 |
991 |
61 |
360 |
-52 |
CFR1044 |
584875 |
6976350 |
988 |
59 |
270 |
-51 |
CFR1045 |
584850 |
6976350 |
983 |
55 |
270 |
-52 |
CFR1048 |
584955 |
6976550 |
950 |
50 |
270 |
-50 |
CFR1049 |
584935 |
6976550 |
946 |
52 |
270 |
-51 |
CFR1076 |
585775 |
6973510 |
1131 |
66 |
180 |
-52 |
CFR1088 |
586000 |
6973555 |
1145 |
50 |
180 |
-51 |
CFR1098 |
583480 |
6973905 |
1190 |
50 |
180 |
-51 |
CFR1103 |
583625 |
6973750 |
1155 |
50 |
270 |
-50 |
CFR1115 |
584445 |
6975410 |
1101 |
50 |
270 |
-50 |
CFR1118 |
584370 |
6975420 |
1099 |
50 |
270 |
-50 |
CFR1120 |
584320 |
6975385 |
1106 |
50 |
270 |
-50 |
CFR1129 |
579300 |
6972875 |
1293 |
50 |
360 |
-48 |
CFR1148 |
578350 |
6972950 |
1161 |
201 |
360 |
-50 |
CFR1150 |
578700 |
6972690 |
1186 |
50 |
360 |
-51 |
CFR1151 |
578350 |
6972950 |
1161 |
183 |
360 |
-65 |
CFR1168 |
578125 |
6972500 |
1070 |
104 |
360 |
-50 |
CFR1169 |
578700 |
6973125 |
1228 |
55 |
360 |
-50 |
CFR1176 |
578050 |
6973425 |
1121 |
64 |
360 |
-50 |
CFR1179 |
578350 |
6972700 |
1135 |
151 |
360 |
-50 |
CFR1182 |
577900 |
6973550 |
1086 |
50 |
360 |
-50 |
CFR1199 |
577820 |
6974025 |
1073 |
53 |
360 |
-50 |
CFD0603 |
586680 |
6973900 |
1207 |
272 |
270 |
-50 |
CFD0604 |
586600 |
6973900 |
1210 |
266 |
270 |
-50 |
CFD0607 |
585500 |
6974200 |
1253 |
263 |
270 |
-50 |
CFD0608 |
585400 |
6974200 |
1251 |
266 |
270 |
-50 |
CFD0609 |
585300 |
6974200 |
1251 |
257 |
270 |
-50 |
CFD0611 |
585175 |
6974200 |
1253 |
257 |
270 |
-50 |
CFD0612 |
585005 |
6976170 |
1021 |
263 |
360 |
-50 |
CFD0613 |
584900 |
6976170 |
1014 |
257 |
360 |
-50 |
CFD0615 |
584950 |
6976250 |
1011 |
245 |
270 |
-50 |
CFD0616 |
584950 |
6976250 |
1011 |
335 |
270 |
-70 |
CFD0617 |
583735 |
6973180 |
1003 |
353 |
360 |
-84 |
CFD0618 |
582850 |
6973340 |
1052 |
352 |
180 |
-55 |
Cautionary Note Regarding Reserves and Resources:
Scientific and technical information contained in this press release relating to Mineral Reserves and Mineral Resources was reviewed and approved by
Gil Lawson, P.Eng., Vice President, Geology and Mine Planning for
Sally Goodman, PhD, PGeo, Director, Generative Geology for
Tim Smith, P.Geo., Exploration Manager,
Cautionary Note to
In addition, the terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource" and "Inferred Mineral Resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the
Accordingly, information contained in this press release containing descriptions of the Company's mineral deposits may not be comparable to similar information made public by
Cautionary Statement Regarding Forward Looking Statements
This press release contains "forward-looking statements", within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as amended, or the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of
Forward-looking statements are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of
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