VANCOUVER, July 26, 2017 GOLDCORP INC. (TSX: G,
NYSE: GG) ("Goldcorp" or the "Company") is pleased to provide
an update on its 2017 exploration program.
Representative drill results are provided below; website links to
further information including full drill results, drill
coordinates, QA/QC information and relevant diagrams are provided
at the end of each section.
Highlights
- Drilling at Cerro Negro continues to return positive
results; exploration budget increased. 2017 budget increased by
$6 million to $26 million to accelerate testing of early stage
targets with drilling planned at Silica Cap, Eureka SE, San Marcos
West, San Marcos Sur and Mariana
Sur.
- Generative work at Peñasquito yields further targets; new
property acquired. An additional nine targets have been added
at Peñasquito and plans are underway to complete regional reverse
circulation ("RC") drilling through cover sequences. La Pinta 06
mining concession acquired for $225,000.
- Drilling at the Coffee Project adds to resource
potential. Drill results from Arabica and Supremo T8-9 confirm
continuity of mineralization, infill drilling at Latte confirms
geologic model and first results from Decaf confirm
prospectivity.
- Building geological team for Maricunga District in
Chile. Recruitment and
logistics being finalized to start geological work on the newly
acquired Maricunga District, including a re-logging of core and
updating the geological models for both Cerro Casale and Caspiche, as well as developing
a five year exploration program.
- Property scale exploration programs underway at Canadian
operations. Field programs are underway to build a portfolio of
targets at all sites as well as define drill programs for the
winter season.
"With the disposal of non-core assets and the acquisition of the
Maricunga district joint venture with Barrick during the first half
of 2017, the Company has seen a net increase in its gold reserves
from 42 million to 50 million ounces," said Paul Harbidge, Senior Vice President,
Exploration. "With an enviable portfolio of brownfield
exploration opportunities within our key mining districts and good
progress on our exploration programs, we are maintaining our five
year 20% gold reserve growth target, which would now see gold
reserves increase to 60 million ounces by 2021, up from the
previous target of 50 million ounces."
Figure 1: Re-setting reserve growth
target
LATAM
Cerro Negro
During the second quarter of 2017, resource conversion and
expansion drilling programs continued at the Mariana Norte Este B,
San Marcos, and Bajo Negro HW veins systems (Figure 2).
Exploration drilling continued at Silica Cap and logistical work
for an airborne geophysical and surface geochemical sampling
program were completed. A total of 59 holes for 23,030m were
drilled during the quarter. Inclement winter weather
conditions slowed drilling progress during the month of June.
Figure 2: Plan Map of the Cerro Negro project and
selected target locations. (Link to figure)
Mariana Norte Este B
Drilling at Mariana Norte Este B was designed to support
resource conversion by completing five infill holes on 50 by 50m
grids, as well as to expand resources eastward. During the
second quarter of 2017, 27 holes totaling 10,527m were
drilled. The drilling has been successful in expanding the
defined mineralization eastward by 300m, with the vein system now
being confirmed over 1,100m strike length and vertical depths of
250m; (Figure 3). A major N-S orientated structure has terminated
the vein to the east.
Figure 3: Long section of contoured gold equivalent
grade returned in drill holes for the Mariana Norte Este B
vein. (Link to figure)
San Marcos
Drilling at San Marcos was focused on resource conversion as
well as better defining the lower boundary to mineralization and
the down plunge extensions. Mineralization has now been confirmed
over a strike distance of 900m and a vertical depth of 400m and
remains open (Figure 4).
Figure 4: Long section of contoured gold equivalent
grade returned in drill holes for the San Marcos vein. (Link
to figure)
Bajo Negro
Eight holes totaling 1,799m were drilled to further test the
upside potential of a hanging wall vein. The assay results
confirmed extensions to a moderately plunging narrow but high grade
vein, which has now been traced for 300m along strike and is open
down plunge. Further drilling of this vein will be put on hold
pending the full evaluation of the Bajo Negro-Silica Cap-Vein Zone
system which is developing into a very prospective zone over a
14km2 area. The future plan is to initially drill a
fence line of heel to toe holes across the entire corridor to
evaluate the prospectivity and potential for additional veins.
Cerro Negro Regional Exploration
Silica Cap - is a northwest-trending zone of silica and
argillic alteration 10.5km southeast of the Mariana Central area
and 3.6km south of the processing plant. The zone is
approximately 1.2km long and 50m to 150m wide and is characterized
by structurally controlled, silica-flooded ignimbrite.
3,825m of drilling from the northeast side of the system,
conducted in April and May, was not successful in intercepting the
system, except for an oblique angle intercept in SCDD-17010.
The south-dipping tendency of the system (opposite to Bajo Negro)
is now clear, as confirmed by the successful intercept in
SCDD-17011 and drilling plans have been adjusted accordingly.
Drilling pierce points now define a mineralized trend of at
least 800m in longitudinal section, similar to the extent of the
Mariana Central and San Marcos systems. The intercept spacing
remains wider than that required for an Inferred Mineral Resource,
and plunge geometry and depth extent within the mineralized extent
are not yet defined. Mineralization remains open along strike
and exploration drilling will continue, initially to define the
limits of economic grade mineralization, prior to infill
drilling.
El Retiro - A first pass drilling program was completed
in the first quarter of 2017 with six holes totaling 1,537m.
Final results were received in the second quarter, and on the basis
of those results, El Retiro has been moved out of the resource
triangle.
Future program - In the second half of the year,
exploration will focus on resource growth with drill programs
evaluating the following targets: Silica Cap, Eureka SE, San Marcos
West, San Marcos Sur and Mariana
Sur.
An airborne electromagnetic survey will commence over the entire
property and a regional geochemical sampling program to evaluate
the Tapera—Silica Cap trend will commence as soon as the weather
conditions permit. Sampling protocols and analytical techniques
will be optimized based on orientation survey results. These new
data sets will be integrated with existing geologic data to ensure
a constant supply of new targets is fed into the base of the
resource triangle.
Cerro Negro – Exploration Results; Coordinates (link)
Peñasquito
Exploration was focused on ground validation of targets (13)
identified in the generative study completed in the first quarter
of 2017, as well as regional rock-chip and selective leach soil
sampling programs at a 1km grid spacing in the Central Block, to
identify additional near-mine targets. The results of the soil and
rock chip work and further modelling of geophysical data has led to
the identification of nine new targets. The majority of these
targets lie within a broad, NNE striking corridor which also
includes known mineralization at Peñasquito, Noche Buena, and La
Buena, suggesting the presence of a major, albeit still poorly
explored mineralized trend (Figure 5).
Soil geochemistry, while successful in delineating some
anomalous areas, is not definitive when it comes to target
identification in areas of thick cover. Therefore, follow-up
work, including overburden drilling and the use of alternate sample
media, will be conducted. The latter will include
biogeochemical sampling of Creosote Bush (Larrea Tridentata).
A pilot study was completed during the second quarter using
Creosote growing over known mineralization at Noche Buena and
Camino Rojo. The results were
encouraging and demonstrated this plant is capable of accumulating
Au, Ag, Cu, Mo, and Re, among others, in its leaf tissue.
Moreover, Creosote has a deep reaching root system capable of
integrating the soil geochemistry over a large area. The
first priority target to which plant geochemistry will be applied
is the Santa Cruz target, located
5km north of Peñasquito.
A 15,000m program of RC drill holes (to the top of bedrock) has
been designed to evaluate targets overlain by Tertiary and/or
Quaternary cover in the Jagüey, Mazapil, and Mejorada valleys. This
program will commence once environmental permitting and access
clearances have been granted.
Detailed field mapping and re-logging of core from the Noche
Buena and Santa Rosa projects was
completed during the quarter. The objective was to evaluate the
potential extensions to mineralization at Noche Buena and to
finalize the best drilling approach for Santa Rosa where, depending on access
agreements, a 2,000m drill campaign is expected to be carried out
during third or fourth quarter of 2017 to test for porphyry style
gold mineralization.
An agreement with San Marco Resources to acquire the La Pinta 06
concession was finalized during the quarter. This acquisition
adds an additional 80km2 of exploration tenure
contiguous to Noche Buena and provides additional early stage
targets for evaluation.
Figure 5: Map showing geophysical image over
Peñasquito district with contoured arsenic geochemistry and
location of selected targets. (Link to
figure)
CANADA
In Canada, exploration at
Goldcorp's operating mines completed final drill-holes and modeling
work to support the mid-year resource block models which are now
transferred to mine engineering for reserve declaration.
Exploration has now transitioned back to resource growth
opportunities, with geologists reviewing and re-prioritizing
targets as well as planning for summer field programs to identify
and advance the next generation of targets through the Resource
Triangle. For most sites, it has been several years since
significant field exploration has been done outside of minimum work
to keep claims in good standing. For advanced projects away from
mine development (Coffee and Borden), work is already well underway in the
field.
Coffee Project
The exploration team continued to execute a $9 million field program comprised of exploration
across a broad portfolio of near-surface, oxide gold targets
ranging from those within the planned mine footprint to grassroots
targets, and infill drilling to upgrade a select portion of the
mineral resource to the measured classification (Figure
6).
The 2017 field season commenced in early March and three drills
are currently operating on the property, comprising two diamond
core drills and one RC drill. This quarter, a total of
28,775m have been drilled on the property, comprising 12,600m
focused primarily on exploration targets around the planned mine
footprint, and 16,175m of infill drilling within the Latte open-pit
resource.
The Latte infill drilling was completed in June 2017, with approximately 70% of assay
results returned to date. Drill core logging and analysis of
the assays received to date generally verifies the existing Latte
geologic model which consists of an east-west striking, moderate to
steep dipping, gently anastomosing pinch and swell shear zone with
minor splays, bifurcations and linking structures.
Mineralization is accompanied by strong oxidation with silica,
Fe-carbonate and sericite alteration overprinting the schistose
host rock. Geologic logging confirms complete to partially
oxidized mineralization with localized pods of sulphide
mineralization in deeper portions of the planned pit. Minor
modifications to the model along some sections of the footwall
portion of the Latte shear zone are required where the infill
drilling indicates that mineralization is more steeply dipping than
previously modelled. An updated resource model will be completed
once all assays are received and have passed external and internal
QA/QC protocols.
Supremo T8-9 and Arabica are located 0.2km and 1.5km east of the
planned Supremo pit, respectively, and Supremiato is 0.8km north of
the planned Supremo open pit. Drilling programs focused on
follow-up of positive 2016 results, comprising infill and step-out
on 50m to 100m spaced centers. During the second quarter,
6,071m of RC drilling and 2,454m of diamond core drilling had been
completed over multiple campaigns aimed at delineating geometry and
proving continuity of mineralization, and acquiring enough drilling
at appropriate spacing to estimate maiden
resources.
In addition, at the Decaf zone, which is at an earlier stage in
the exploration process, a small program of core and RC drilling
was completed in May 2017 to provide
additional understanding of geological and structural
controls. Decaf lies at the possible intersection point
between the N-S oriented Supremo T2, NE-SW Latte North and NW-SE
Decaf mineralized trends. Initial gold assay results from
drilling confirmed prospectivity. Representative results can
be viewed in the link below.
The geology and mineralization style at Supremo T8-9,
Supremiato, Arabica and Decaf is identical to that of the Supremo
zone where resources and reserves have been defined, comprising
steeply dipping and deeply oxidized breccia/fracture zones which
cross-cut gently south dipping quartz-feldspar augen gneiss with
localized lenses of biotite schist. Along strike the mineralized
zones exhibit anastomosing pinch/swell and splaying
bifurcation/merging typical of Coffee Supremo-style
mineralization.
From June 2017 onwards,
exploration programs have expanded outwards to more distal and less
advanced exploration opportunities within the broader Coffee
property. Planning of additional exploration programs is
ongoing across a range of targets throughout the Coffee
property. Field programs are expected to be undertaken in the
third and fourth quarters of 2017, including additional diamond
core drilling and scout RC drilling programs, as well as surface
geochemical sampling and geophysical surveys.
Figure 6: Coffee Deposit scale drilling
location map and planned future mine infrastructure. Drill collars
highlighting drilling completed for Latte infill and Supremo,
Arabica, and Supremiato in Q2. (Link to figure)
Coffee – Exploration Results; Coordinates (link)
Red Lake Camp
Exploration activity in Red
Lake concentrated on three areas: Campbell-Red Lake, HG Young and Cochenour.
Campbell – Red Lake
Exploration targeted four areas of the deposit in the second
quarter of 2017: (Red Lake-F Zone, R and 56 Zone, HGZ-HW7 and PLM)
as well as expanding and investigating new zones in the mine
footprint. A combined 25,329m of underground drilling was
completed. Results are supporting the replacement of ounces
depleted through mining and targets are being prioritized through
an economic framework for drill evaluation and future resource
conversion.
Campbell - Red Lake –
Exploration Results; Coordinates (link)
HG Young
In the second quarter of 2017, 707m of oriented core was drilled
on HG Young from 14 level of the Campbell complex. The purpose of
this drilling was to improve the understanding of the orientations
of the ore structure and geology from 13 level to 16 level in order
to help guide mineralized zone re-interpretations. In
addition, the re-logging program was completed and an updated
geologic model for the target was finalized, forming the foundation
for the current update to the resource estimate.
The following key observations were made from the empirical data
and remodeling exercise with the identification of two distinct
mineralized geologic trends (Figure 7):
- The main "HG Young Shear" that hosts fault-filled
quartz-sheelite-gold veins.
- A shear zone with sulphide mineralization trending parallel to
the mine-scale regional faults, characterized by arsenopyrite
mineralization with sheeted quartz veins.
- A third geologic trend (250o/70o) was
observed from localized faults and dykes; previous drilling is
orientated sub-parallel to this trend and its significance is
uncertain at this point.
The HG Young plunge is caused by the intersection of the HG
Young Shear and the Mine Trend Faults. The orientation of the
main HG Young trend is predominately parallel to the HG Young Shear
with local variations due to changes in host lithology
orientations. A more extensive but lower grade sulphide
replacement zone lies parallel to the Mine Trend Fault.
Figure 7: Plan of 8 level, HG Young showing the
three distinct mineralization styles present with the structurally
bounding HG Young Shear and the Mine Trend Faults. (Link to
figure)
Cochenour
In the second quarter of 2017, exploration work continued to
focus on increasing the geologic understanding of the Upper Main
Zone (UMZ1) in the starter mine area (Figure 8). In order to
increase structural understanding, a Phase 2 oriented drilling and
re-logging program was undertaken, focusing on levels 3710-4270.
The program was completed during the quarter. The principal
observations from this work include:
- Two main structural domains identified: the Gold Eagle Shear
(north south orientation) and Footwall corridors (mine trend with
135° orientated shear zones).
- The majority of veining and sulphide replacement mineralization
is orientated north-south, but there is a component of sulphide
replacement related to the mine trend shears.
- The intersection between the mine trend shears and the UMZ
controls higher grade mineralization.
- Oriented core interpretation and variography has identified a
plunge in mineralization to the southwest which is open and will be
targeted in future drill campaigns.
- To the south end of the UMZ1 model, near the intersection of
the Gold Eagle Shear and Cochenour Thrust, the mineralization steps
out further into the hanging wall relative to areas further north.
Mineralization is related and adjacent to an ultramafic and basalt
contact in this area.
During the second quarter, all assay results from the Phase 2
Upper Main Zone (UMZ) resource addition and conversion program were
returned and can be viewed at the link below. Results were in line
with expectations. An updated grade contour of the UMZ1 is shown in
Figure 8.
A new resource model has been completed for the project and has
been transferred to the mine planning department for reserve
estimation. Initial mineral reserves and resources are expected to
be released as part of Goldcorp's annual reserve and resource
update in the third quarter of 2017.
In the third quarter of 2017, exploration will focus on the
Phase 3 oriented core and re-logging program to the North of the
UMZ in the banded iron formation zone to advance the geologic model
and potential of Cochenour.
Figure 8: Cochenour contoured long section looking East
of UMZ1. Grade thickness contours in g/t x true width (m).
(Link to figure)
Cochenour – Exploration
Results; Coordinates (link)
Musselwhite
The Musselwhite team continued evaluating near-mine targets that
can be tested from current infrastructure or surface platforms. In
addition, surface field programs were initiated after a hiatus of
several years in order to identify new targets in the host
greenstone belt which is underexplored.
Mine Exploration
During the second quarter of 2017, underground exploration at
Musselwhite was focused on completing the resource conversion
drilling in the West Limb and C Block areas, as well as testing
several new and follow-up targets. Twenty-four infill and
step out holes were drilled underground during the second quarter
on the West Limb to complete the geological model and the strike
length extension. Revision of the geological model, including
detailed modelling of an ultramafic unit, led to small changes in
the size and position of the Saddle, Revolver and Hackamore
zones. A ninth WEL mineralized area was also identified as a
result of the geological model refinement, referred to as the Rifle
zone. The Rifle zone is situated west of, and slightly below,
the Revolver zone and is hosted in garnet-biotite schist. The
location of the zone is shown in Figure 9. The zone has been
intersected by abundant drill intercepts and is consistent over
200m of strike length.
Moving into the third quarter of 2017, exploration will include
testing of the West Limb to the far north, drilling the down plunge
extension of the Camp/Bay zones as well as follow up drilling on a
2016 drill-hole intersection in the Moose area of the mine. A
rig will be deployed to test north of the Lynx/Esker area. West
Limb step out drilling and Redwing drilling will continue with the
current drill programs. Development of the 1,080mL
exploration drift will start up again early in the third quarter to
develop the required platforms for C Block expansion to the
north.
Property Exploration
A helicopter supported drill program on the north shore of
Opapamiskin Lake has commenced and by the end of the second
quarter, the drill hole had just passed the 1,200m mark, and is on
target to test the northern extent of Musselwhite mineralization in
the eastern PQ limb, just over 1km north from the extent of known
reserves. The geology intersected along the hole transect is
different from that projected to this section, possibly due to a
change of plunge of folding. The hole is expected to rise towards
the target providing a mother-hole from which successive wedge cuts
can be made.
Regional mapping, soil and outcrop sampling has begun in the
Karl Zeemal area. Karl Zeemal is a known area of
mineralization that has been previously prospected and locally
drilled. Historically, only iron formation was targeted but
past exploration success at Musselwhite indicates that all
lithological units are potential hosts for mineralization.
The soil sampling will cover the area of known drilling to develop
a baseline and then expand to cover the full claim holding and all
lithological units. Old core will be re-logged and a geologic model
developed for future testing.
Figure 9: Musselwhite mine generalized cross section
looking mine grid north, showing relative locations of all ore
zones. (Link to figure)
Musselwhite – Exploration Results; Coordinates (link)
Porcupine Camp
The exploration program in the Porcupine camp is focused on
evaluating several project areas including the Century Project,
Hoyle Pond and known advanced prospects within the Timmins camp, as well as the Borden Project in
Chapleau.
Century Project
At Century, five rigs have drilled a total of 18,744m of core,
during the second quarter. The surface geotechnical program is
complete and now the focus is on infill drilling the resource model
from both surface and underground (Figure 10). Assay results
returned to date are in line with expectations and confirming the
geological model. The model, including resource estimation, will be
updated once all drilling has been completed and assay results
received. Reserves and resources will be updated as part of
Goldcorp's reserve and resource update in the third quarter of
2017.
Figure 10: Vertical section showing the
position of surface and underground drill rigs at the Century
Project. (Link to figure)
Century – Exploration Results; Coordinates (link)
Mine Exploration
At Hoyle Pond, 4,666m of core drilling was completed to further
test the down plunge mineralization of the S veins. Drilling
results showed some grade variability, but an overall extensive
high grade ore plunge. Extending the ore plunge across the diabase
dyke to the east was a goal of the exploration team for the second
quarter. The two deepest intersections on the S1 vein at 1,860mL
returned intercepts of 72.2 g/t over 1.5m and 40.3 g/t over 1.7m
(true width). Both intercepts revealed brecciated,
multigenerational quartz veins with visible gold concentrated along
the footwall contact. More typical intercepts would range
closer to 20.9 g/t over 1.2m, with varying widths of up to 4m (true
width)
The XMS vein continues to be an important target for Hoyle Pond.
During the second quarter, a total of 5,815m (18 drill holes) were
completed on the XMS target. The main focus was to grow the upper
extension which is cross-cut by a 20m to 30m wide diabase dyke. All
drill holes to date have intersected a vein or structure in the
projected target area, but the veins appear to be less mineralized
than expected. The drilling east of the dyke, more in line
with the known ore plunge, extended the mineralization above the
development on 1,600mL.
The 200 Central Vein was also tested with seven holes for
1,058m. This vein is located in the upper mine area with drilling
based out of the 240mL main ramp. Prior drilling indicated a
narrowly plunging high grade core of mineralization, similar to the
UM vein being mined at deeper elevations. However, the recent
drilling did not confirm the model and no further work is
planned.
The South Sediment Vein (SSV) is hosted by the Porcupine
Sedimentary Assemblage, which comprises a turbidite sequence of
metasediments interbedded with metre-scale finer-grained
argillaceous beds. One drill started drilling the SSV in
June, from the 1,710mL diamond drill bay. Updates on this program
will be covered in the third quarter exploration update news
release.
Porcupine – Exploration Results; Coordinates (link)
Regional Exploration
The Ethier program remains the next regional target in line for
testing and planning is underway to mobilize a drill to the target
site. A 4,700m drilling program has been designed to test the
potential for high grade, quartz vein hosted mineralization
approximately 4km east of Hoyle Pond (Figure 11). The program
aims to test a similar structural, geological and geochemical
setting to Hoyle Pond. No previous surface holes extend below
300m, and no holes tested the southern portion of the belt, leaving
significant gaps of knowledge along this prospective
corridor.
Figure 11: Vertical section centered on
5377500N, showing the targeted mafic belt and relative position of
the Ethier target. (Link to figure)
Borden
The focus for the second quarter was to drill wedge holes
through the deposit that had the dual purpose of 1) providing
additional metallurgical samples and 2) providing the first
oriented drill core through the high grade zone. This oriented core
forms the basis for the structural review of the Borden geological model. The core re-logging
portion of the review was put on hold during drilling of the
oriented holes, but resumed towards the end of the quarter.
The final hole (BL16-01011) at Borden West was completed,
targeting the Footwall Amphibolite contact and associated gold zone
along strike from the Borden
deposit. Similar to previous holes, only anomalous gold
values were returned, and no further work is planned on this
target.
In addition, no further surface drilling is planned to test the
potential extension to the high grade plunge at depth due to the
depth and cost of holes. It makes more economic sense to test this
target from underground once development is in place.
Borden – Exploration Results;
Coordinates (link)
Regional Field Exploration
A regional till survey completed over the Patent Claims in
November 2016 was designed to
identify gold dispersion trains associated with glacial tills. All
of the 450 samples collected have been processed and preliminary
results have been received, but the final report is still pending
due to the significant amount of sub 50-micron gold grains that
need to be documented in the samples, most of which are down-ice
from the deposit.
A prospecting crew was mobilized to begin prospecting the Patent
Claims located north and north-east of the deposit, while a new
till survey has commenced on the east limb of the Borden belt.
Éléonore
During the second quarter of 2017, exploration at Éléonore
continued on underground minex targets in addition to completion of
a new property scale geological interpretation, reprocessing
geophysical data and integrating data layers to prioritize summer
field teams. Full assay results were also received from the two
targets (Synee and Old Camp) drilled in the first quarter of
2017.
Mine Exploration
Underground exploration continued with two drills completing
9,558m in 26 holes. Zones tested included the 494 area and New
zones (behind 494), South Ore Shoot and South-South Ore Shoot,
Central Main Ore Shoot, and the Deep Continuity (of the Central
Main Ore Shoot), to provide potential for both future resource
growth and reserve conversion (Figure 12). Positive gold
intersections continue to be returned and a full set of results
received during the quarter can be viewed via the attached
link.
Figure 12: Éléonore mine long section (Zone
5050) showing location of drilling in Q2. (Link to
figure)
Éléonore Property Exploration
Old Camp Target - The final results from the initial
first quarter 2017 scout drilling program were received during the
second quarter of 2017. The target is located along a major
north-east trending deformation zone, 6km from the Roberto deposit.
A total of 3,308m in seven drill holes with lengths between 300m to
500m were drilled to intersect mineralized quartz-tourmaline veins
associated with breccia zones and faults/shears. Assays
returned include: OLD-17-00001: 3.0m at 4.32g/t from 108m,
OLD-18-00003: 2.55m at 5.62g/t from 65.1m and OLD-17-00004: 3.35m
at 1.8g/t; additional intersections returned anomalous values in
the range of 0.2 to 1.5g/t over intervals of up to 14m. The
mineralization is associated with quartz and tourmaline veins with
pyrite, pyrrhotite and chalcopyrite that vary from 2-3%
disseminations to semi-massive sections. Exploration work is now
focused 1.3km to the northeast where there is a known multi-element
lake bottom sediment anomaly. This anomaly is located near the
possible north-east extension of the Ell lake shear and there is an
adjacent series of gold bearing boulders of sedimentary origin.
Detailed mapping and sampling is in progress to determine whether
further drilling is justified.
Synee Target - The final results from the first quarter
2017 scout drilling program of six holes for 1,620m, were received
during the second quarter of 2017. The target area is expressed by
a highly magnetic anomaly extending over 4km in length in a general
east-west direction. Outcrops located near its center indicate the
anomaly is caused by fine grained magnetite rich sediments. In
2015, a localized train of twenty mineralized boulders were found
less than 1km, down the ice-flow direction, from the western most
extremity of the iron formation. The boulders are a mix of
magnetite rich sediments and paragneiss, with grab samples from the
magnetite rich boulders ranging in grade from 1g/t Au to 16 g/t Au,
and from the paragneiss ranging from 1g/t Au to 3g/t Au. The
localized nature of the boulder train indicates a proximal source
likely located in the area of the magnetic anomaly. The gold assay
results from the drill core only returned three anomalous values:
SYN-17-00001: 1.0m at 0.24g/t from 68m, SYN-17-00002 1.0m at
3.42g/t from 70.5m and 1.0m at 0.11g/t from 79.4m. The results did
not confirm a strongly mineralized bedrock source to support the
values returned in the boulders; a summer field program of detailed
mapping, additional boulder sampling and a detailed till survey are
being undertaken to prioritize drill locations for the winter
season.
Target generation and prioritization - A reinterpretation
of the Éléonore property geology has been undertaken, integrating
public domain and proprietary geophysical, geochemical, structural
and lithological data to produce an interpretation that identifies
elements considered to be important in localizing gold
mineralization in the Éléonore camp.
The new interpretation provides context to known anomalies and
showings, and will be validated and refined during the summer field
season. The field mapping campaign began in the second quarter of
2017 and initially focused on mapping outcrop along the shoreline
of the Opinaca reservoir and will progress to areas where previous
geochemical samples (lake sediment, till, boulders, rock chips)
have returned anomalous values for gold or pathfinder elements
(Figure 13). The aim of the summer program will be to advance
early-stage targets and prioritize areas for winter drilling.
Figure 13: Éléonore property geophysical data
and location of targets. (Link to figure)
Éléonore – Exploration Results; Coordinates (link)
About Goldcorp
Goldcorp is a senior gold producer focused on responsible mining
practices with safe, low-cost production from a high-quality
portfolio of mines.
Scientific and technical information in this press release
relating to exploration results was reviewed and approved by
Sally Goodman, PhD, PGeo, Director,
Generative Geology for Goldcorp, and a "qualified person" as
defined by NI 43-101. Information on data verification performed on
the mineral properties mentioned in this news release that are
considered to be material mineral properties to the Company are
contained in Goldcorp's most recently filed annual information form
and the current technical report for each of those properties, all
available at www.sedar.com.
Quality Assurance/Quality Control
Quality assurance and quality control procedures include the
systematic insertion of blanks, standards and duplicates into the
core and reverse circulation sample strings. The results of the
control samples are evaluated on a regular basis with batches
re-analysed and/or resubmitted as needed. All results stated in
this announcement have passed Goldcorp's quality assurance and
quality control ("QA/QC") protocols.
Cautionary Note 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 Goldcorp. Forward-looking statements include, but are
not limited to, statements with respect to the future price of
gold, silver, copper, lead and zinc, the estimation of mineral
reserves and mineral resources, the realization of mineral
reserve estimates, the timing and amount of estimated future
production, costs of production, targeted cost reductions, capital
expenditures, free cash flow, costs and timing of the development
of new deposits, success of exploration activities, permitting time
lines, hedging practices, currency exchange rate fluctuations,
requirements for additional capital, government regulation of
mining operations, environmental risks, unanticipated reclamation
expenses, timing and possible outcome of pending litigation, title
disputes or claims and limitations on insurance coverage.
Generally, these forward-looking statements can be identified by
the use of words such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "believes" or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "should", "might" or "will", "occur" or "be
achieved" or the negative connotation thereof.
Forward-looking statements are necessarily based upon a number
of factors that, if untrue, could cause the actual results,
performances or achievements of Goldcorp to be materially different
from future results, performances or achievements expressed or
implied by such statements. Such statements and information are
based on numerous assumptions regarding present and future business
strategies and the environment in which Goldcorp will operate in
the future, including the price of gold and other by-product
metals, anticipated costs and ability to achieve goals. Certain
important factors that could cause actual results, performances or
achievements to differ materially from those in the forward-looking
statements include, among others, gold and other by-product metals
price volatility, discrepancies between actual and estimated
production, mineral reserves and mineral resources and
metallurgical recoveries, mining operational and development risks,
litigation risks, regulatory restrictions (including environmental
regulatory restrictions and liability), changes in national and
local government legislation, taxation, controls or regulations
and/or change in the administration of laws, policies and
practices, expropriation or nationalization of property and
political or economic developments in Canada, the United
States and other jurisdictions in which Goldcorp does or may
carry on business in the future, delays, suspension and technical
challenges associated with capital projects, higher prices for
fuel, steel, power, labour and other consumables, currency
fluctuations, the speculative nature of gold exploration, the
global economic climate, dilution, share price volatility,
competition, loss of key employees, additional funding requirements
and defective title to mineral claims or property. Although
Goldcorp believes its expectations are based upon reasonable
assumptions and has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended.
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
Goldcorp to be materially different from those expressed or implied
by such forward-looking statements, including but not limited to:
risks related to international operations including economic and
political instability in foreign jurisdictions in which Goldcorp
operates; risks related to current global financial conditions;
risks related to joint venture operations; actual results of
current exploration activities; actual results of current
reclamation activities; environmental risks; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; future prices of gold and other by-product
metals; possible variations in ore reserves, grade or recovery
rates; failure of plant, equipment or processes to operate as
anticipated; risks related to the integration of acquisitions;
accidents, labour disputes; delays in obtaining governmental
approvals or financing or in the completion of development or
construction activities and other risks of the mining industry, as
well as those factors discussed in the section entitled
"Description of the Business – Risk Factors" in Goldcorp's most
recent annual information form available on SEDAR at www.sedar.com
and on EDGAR at www.sec.gov. Although Goldcorp has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The forward-looking
statements contained herein are made as of the date hereof and,
accordingly, are subject to change after such date. Except as
otherwise indicated by Goldcorp, these statements do not reflect
the potential impact of any non-recurring or other special items or
of any dispositions, monetizations, mergers, acquisitions, other
business combinations or other transactions that may be announced
or that may occur after the date hereof. Forward-looking statements
are provided for the purpose of providing information about
management's current expectations and plans and allowing investors
and others to get a better understanding of Goldcorp's operating
environment. Goldcorp does not intend or undertake to publicly
update any forward-looking statements that are included in this
document, whether as a result of new information, future events or
otherwise, except in accordance with applicable securities
laws.
SOURCE Goldcorp Inc.