VANCOUVER, Sept. 25, 2017 /CNW/ - GOLDCORP INC. (TSX: G,
NYSE: GG) ("Goldcorp" or the "Company") is pleased to provide
an update of its extensive project pipeline that forms the basis of
its five–year 20/20/20 plan that would see the Company increase
gold production and gold reserves by 20%, while decreasing all-in
sustaining costs per ounce by 20%.
"The significant progress we have made on our development and
exploration projects has given us increased confidence in our
20/20/20 objectives and identified new opportunities for
outperformance at Cerro Negro, Peñasquito and Coffee," said
David Garofalo, President and Chief
Executive Officer. "We are also pleased with the substantial
progress of our longer-term projects Century, NuevaUnión and Cerro
Casale/Caspiche that are poised to provide meaningful long-term
gold production and value growth."
Highlights:
- Exploration Discovery at Cerro Negro as New Expansion Study
Commenced. High-grade Silica Cap discovery includes drill
intercept of 19.66 m at 28.59 g/t gold; 115.75 g/t silver. The
Company has commenced a concept study of a low capital cost, 10% to
20% expansion to the nameplate capacity of the 4,000 tonnes per day
plant.
- Pyrite Leach Project at Peñasquito Ahead of Schedule and
Under Budget. The project has achieved 40% completion on its
$420 million investment, which is
expected to be commissioned three months ahead of schedule by the
fourth quarter of 2018.
- Continued Exploration Success at Coffee Demonstrates Large
Scale Geological Potential and Possible Production Profile
Increases. Step out drilling expands oxide resource into new
AmeriKona zone. Recent results include 22.9 m at 1.93 g/t gold from
a depth of 41.2 m. Drilling into new sulphide areas returns an
intercept of 30.5 m at 7.24 g/t gold from a depth of 38.1 m.
- Century Base Case Prefeasibility Nears Completion with
Initial Gold Reserve Expected; Borden on track for commercial production in
2019. The base case Century prefeasibility study, to be
completed in October 2017, has been
based on over 4.5 million ounces of current Indicated resources,
mainly from the Dome Century pit. Together with the Borden Project,
currently under construction, significant increases in gold
production from the Porcupine District are expected.
- NuevaUnión Joint Venture (50/50 Teck) Advancing Towards
Feasibility Stage as Prefeasibility Study Nears Completion. The
prefeasibility study is expected to be completed early in the first
quarter of 2018, at which point Goldcorp expects to enter the
feasibility and permitting phase.
- Cerro Casale/Caspiche Joint Venture (50/50 Barrick)
Establishes Project Team and Commences Exploration Program.
Project team commences prefeasibility study on consolidation of
large-scale Caspiche and Cerro Casale deposits into one operating
district. An aggressive district-scale exploration program has been
commenced on the 20,000 hectare property position.
Cerro Negro Operational Improvements and Exploration
Success Drive Potential Expansion
The Cerro Negro operation (100% owned, Argentina) continues to strengthen operating
performance while demonstrating strong exploration potential.
Some recent highlights include:
- Mine development has achieved record rates of 25 meters per day
and daily production has reached the 3,000 tonnes per day
level.
- Cerro Negro delivered $50 million
in annual sustainable cost savings in 2016 through its optimization
work and is expected to add another $25
million in 2017.
- The exploration program was expanded with successful results,
as evidenced by the new Silica Cap discovery.
- A generative exploration program was implemented and is
expected to add multiple targets throughout the summer field season
on the 269 km2 land package.
The Cerro Negro complex has been steadily increasing production
from the Eureka and Marianas Central mines to achieve a throughput
rate of 3,000 tonnes per day. Production is expected to
increase to nameplate capacity of 4,000 tonnes per day when the
Marianas Norte and Emelia mines are brought on line.
Accelerated development of an additional mining front is being
contemplated that would allow Cerro Negro to potentially increase
plant throughput by 10% to 20% beyond nameplate capacity of 4,000
tonnes per day. The Cerro Negro processing plant was designed
for future expansion at a relatively low cost due to preconstructed
infrastructure, including foundations for additional leaching
tanks, that could accommodate higher throughput at low incremental
capital investment. An expansion concept study is expected to
be completed by the end of 2018.
Exploration programs and target definition in the near and
medium term will be key to support expansion opportunties. Current
reserves at Cerro Negro are calculated on 9 veins. By comparison,
Anglogold Ashanti's Cerro Vanguardia
mine, located in the same province with similar host rocks, style
and controls on mineralization, has produced over 4 million ounces
of gold and had reserves calculated on 100 veins with an
accumulated strike length of 190 km over its life of mine.
Exploration is still at an early stage in this district where a
portfolio of 32 vein targets has been identified. Recent assay
results from hole SCDD-17029 at the Silica Cap target returned a
true thickness intersection of 30.69 m at 19.10 g/t gold; 76.40 g/t
silver (Including I: 19.66 m at 28.59 g/t gold; 115.75 g/t silver
and Including II: 4.5 m at 54.15 g/t gold; 125.43 g/t silver)
attesting to the prospectivity of the district and supporting the
potential for higher production rates beyond the current design
capacity of 4,000 tonnes per day. As well as Silica Cap,
drilling has commenced on the new Eureka SE target, a 600 meter
exposed quartz vein complex at surface with total target length of
4 km. (see appendix 1 for table of drill intercepts)
Peñasquito Expansion Ahead of Schedule and Under
Budget
At Peñasquito (100% owned, Mexico), the Pyrite Leach Project ("PLP") is
40% complete and expected to commence commissioning in the fourth
quarter of 2018, three months ahead of schedule. PLP is
expected to recover approximately 40% of the gold and 48% of the
silver currently reporting to the tailings, and is expected to add
production of approximately 1 million ounces of gold and 44 million
ounces of silver over the current life of the mine.
In addition, Goldcorp expects to complete the prefeasibility
study on Eco-Tails by the first quarter of 2018. The Eco-Tails
project has the potential to save in excess of 125 million
m3 of water and reduce sustaining capital requirements
of the tailings storage facility and additional wellfields during
the life of the mine, representing estimated savings of
$10 to $15 million annually. The
financial benefits of this project are not only significant for
Peñasquito but as the technology is developed further,
consideration of its application to other large projects, such as
the Cerro Casale/Caspiche Joint Venture, could lead to major
financial, social and environmental benefits.
Coffee Project Demonstrates District Potential as it
Prepares for Construction
Since the acquisition of the Coffee Project (100% owned,
Canada) in July 2016, the Company has accelerated and
expanded the scope of exploration in this developing new gold
camp. Goldcorp acquired the project not only for the
high-grade Coffee gold deposit, but also to participate in the
development of the growing mineral wealth within the highly
prospective Tintina Gold Province which is endowed with
approximately 150 million ounces of gold across Yukon and Alaska.
Government support for increased investment in the Yukon mineral industry is evidenced by the
recent joint announcement from Yukon
Territory and Canadian Federal Governments of a C$360 million program for the Yukon Resource
Gateway Project which will help upgrade over 650 km of road
infrastructure to access mineral-rich areas of the Yukon, including the Dawson Range where the
Coffee Project is located.
The Coffee Project contains numerous near-surface drill targets,
with an accumulated strike length of more than 12 km, remaining to
be systematically tested for additional oxide open pit resources,
and all mineralized zones remain open at depth. Furthermore,
only 30% of the property has systematic soil sampling coverage. The
Company has expanded the 2017 exploration budget to approximately
C$20M through a recently implemented
acceleration plan to capitalize on the success of the drilling
programs so far this season, and to provide adequate resourcing to
the Coffee exploration team to achieve Goldcorp's long-term
objective to develop a camp that could produce 400,000 to 500,000
ounces of gold per annum.
Almost 50,000 meters have been drilled to date this season, with
another 25,000 meters planned before the end of the season.
Encouraging initial reverse circulation drill results have recently
been received from the new AmeriKona zone, located within a 4 km
soil anomaly, 3 km to the west of the current Latte pit.
Broad mineralized intercepts have returned the following highlights
from recent drilling within a 1.5 km segment of this anomaly (see
appendix 1 for additional details):
Hole
Number
|
Zone
|
From
(m)
|
To
(m)
|
Drilled
Width (m)
|
True
Width (m)
|
Au
g/t
|
CFR1463
|
AmeriKona
|
65.5
|
82.3
|
16.8
|
11.2
|
2.17
|
And
|
AmeriKona
|
96.0
|
108.2
|
12.2
|
8.1
|
1.74
|
CFR1465
|
AmeriKona
|
106.7
|
125.0
|
18.3
|
12.2
|
1.39
|
CFR1466
|
AmeriKona
|
56.4
|
79.3
|
22.9
|
15.2
|
1.58
|
And
|
AmeriKona
|
99.1
|
105.2
|
6.1
|
4.1
|
1.38
|
CFR1468
|
AmeriKona
|
88.4
|
115.8
|
27.4
|
18.3
|
1.37
|
CFR1469
|
AmeriKona
|
36.6
|
65.5
|
29.0
|
19.3
|
1.65
|
CFR1470
|
AmeriKona
|
152.4
|
164.6
|
12.2
|
8.1
|
2.79
|
And
|
AmeriKona
|
187.5
|
199.6
|
12.2
|
8.1
|
1.14
|
CFR1452
|
Americano
|
38.1
|
68.6
|
30.5
|
20.3
|
7.24
|
CFR1455
|
Americano
|
59.4
|
65.5
|
6.1
|
4.1
|
3.12
|
CFR1458
|
Americano
|
64.0
|
68.6
|
4.6
|
3.0
|
1.97
|
And
|
Americano
|
94.5
|
97.5
|
3.1
|
2.0
|
3.93
|
As well as continuing to test shallow oxide targets, the
mineralized structures extend over several kilometers and have only
been tested to relatively shallow depths (approximately 200 meters
below the surface). A first phase of deep drilling to test the
sulphide potential of the project has commenced at the Latte
target, with additional holes planned at Supremo before the end of
the 2017 field season.
Goldcorp has entered into an agreement with JDS Energy &
Mining Inc. ("JDS") for the development and early operations of the
Coffee Project. Under this agreement, JDS is responsible for
the engineering, procurement, construction, commissioning, and, at
Goldcorp's option, for the first two years of operations. The
JDS team is familiar with the Coffee Project through their previous
involvement in the development of the Kaminak Feasibility Study
published in early 2016.
Significant progress has been made with First Nation partners in
the Yukon. Tr'ondek Hwech'in,
whose Traditional Territory covers 100% of the project footprint,
and Goldcorp have completed negotiations on the financial terms of
an agreement. The Goldcorp team is continuing to work with
the Tr'ondek Hwech'in to finalize a broader benefits agreement that
will result in the creation of sustainable value for both parties
as the Coffee Project is developed.
Century and Borden Projects Revitalize 100 Year Old
Porcupine Camp
Goldcorp is expected to complete a base case prefeasibility
study on the Century Project (100% owned,
Canada) in October 2017, based on over 4.5 million ounces of
current Indicated resource, mainly from the Dome Century pit, in
time for Goldcorp's 2017 Reserve and Resource update.
Tradeoff studies and further optimization will focus on
evaluating the latest technologies to reduce project impact and
footprint and to improve mining and processing efficiencies. Ore
sorting technologies, co-mingling of tailings with waste rock
(Eco-Tails) to reduce water use, conveying of rock from the pit,
electrical and/or autonomous equipment, and optimized process plant
design are just some examples of the ongoing trade-off studies
under consideration.
At Borden (100% owned,
Canada), construction of surface
infrastructure to support the development of the exploration ramp
is now complete. The current infrastructure can support the mine
once in production. Ramp development has now reached 300
meters and is on schedule. The bulk sample is expected to commence
in October 2018. Bulk sample
extraction and critical mine production development will be
conducted concurrently. The mine is expected to begin
commercial production, as planned, in the second half of 2019.
Borden is made up of a 1,000
km2 land package that provides significant exploration
opportunity in a new mining district. With an exploration
budget of $5.5 million for 2017, the
first half of 2017 was focused on core re-logging and drilling to
increase the structural understanding of the deposit.
Regionally, till surveying and prospecting covered
significant areas of the surrounding land package in order to
generate additional exploration targets.
Borden will also benefit from a
low-cost mill at the Porcupine complex, located in Timmins. To
reduce site footprint and simplify permitting, ore is planned to be
transported from Borden to the
Porcupine process facility.
The project has demonstrated a strong focus on inclusion and
consultation with local communities to underpin the viability,
sustainability and profitability of the mine. First Nations
negotiations are in progress and Goldcorp expects to be in a
position to sign a collaboration agreement prior to the start of
construction.
Positive Progress on the NuevaUnión Joint
Venture
In collaboration with our joint venture partners, Teck Resources
Limited, the prefeasibility study is being finalized on
NuevaUnión (50% owned, Chile) and is expected to be completed early
in the first quarter of 2018. There has been considerable progress
made to date to combine the Relincho and El Morro projects and
consolidate infrastructure, which is expected to result in a more
robust combined project with a reduced environmental footprint,
substantially reduced capital expenditures and an optimized plan
including innovative technologies such as an autonomous mining
fleet, low energy consumption process plant design, and hybrid
conveyance system. While the prefeasibility study remains to
be finalized, the many trade-off studies completed as part of the
process have resulted in incorporating several value enhancing
opportunities increasing confidence in the overall business
case.
Goldcorp envisions a staged and internally financed capital
program that would allow a large portion of the capital required to
develop and construct future phases to be funded largely from
internal cash flows.
Cerro Casale/Caspiche Joint Venture Applies Lessons of
NuevaUnión Model and Undertakes Exploration Program
Cerro Casale/Caspiche (50% owned, Chile) has appointed a project director,
Kim Hackney, to start building a
dedicated project team based in Santiago,
Chile. Kim is an engineer with more than 35 years of project
development experience, most recently with Goldcorp and Newmont
Mining Corporation, where he was an integral part of the
project/construction teams at Peñasquito, Akyem, Boddington,
Yanacocha and Batu Hijau.
The initial stage of the joint venture has been focused on
planning a scope of work and budget to progress the project through
24 months of planned studies with key focus areas including:
- Geological review and resource models update for both Cerro
Casale and Caspiche;
- Drilling campaign including infill, definition, geotechnical
and metallurgical drilling for Cerro Casale and Caspiche;
- District exploration program underway to review prospects and
identify targets including the satellite oxide pits at Cerro Casale
for the upcoming drilling season;
- Trade-off engineering studies;
- Understanding the application of Goldcorp's patented
Concentrate Enrichment Process ("CEP") to optimize concentrate
quality; and
- Engaging various stakeholders and initiating a permitting
strategy for the combined operation.
The lessons learned as part of the prefeasibility study at
NuevaUnión will be beneficial as the joint venture advances through
the prefeasibility stage. The joint venture will control more than
20,000 hectares of mineral properties, which contain a combined
gold mineral reserve and resource estimate of 23.2 million ounces
of Proven and Probable reserves, 26.7 million ounces of Measured
and Indicated resources, and 7.8 million ounces of Inferred
resources and a combined copper mineral reserve and resource
estimate of 5.8 billion pounds of Proven and Probable reserves, 13
billion pounds of Measured and Indicated resources, and 2.7 billion
pounds of Inferred resources (100% basis)1.
_____________________________________
1 Mineral Resources for the Caspiche project are derived from
information provided by Exeter Resource Corporation effective June
7, 2017. Refer to Exeter's "Amended NI 43-101 Technical Report on
the Caspiche Project Atacama Region, Chile dated 19 December 2014"
as filed on SEDAR. Mineral Resources for Cerro Casale are reported
exclusive of those Mineral Resources that were converted to Mineral
Reserves. Refer to Barrick's Annual Information Form for the year
ended December 31, 2016 and dated March 24, 2017 for further
information on Cerro Casale Mineral Reserves and Mineral Resources
estimates.
|
Musselwhite Expansion on Time and On Budget
At Musselwhite (100% owned, Canada), the Materials Handling Project is
advancing as planned and has now achieved 48% completion with
detailed engineering mostly completed. The $90 million investment, which is expected to
provide an after-tax IRR of 25% (based on current reserves only)
through the construction of an underground winze and associated
infrastructure, will result in a significant reduction in truck
haulage and is expected to increase production by 20% while
reducing operating costs by approximately 10%. The project will
reduce reliance on high-cost truck haulage by significantly
reducing uphill truck haulage between the winze and underground
crushers leading to improved energy efficiency, reduced ventilation
requirements, reduced mining costs, enhanced production schedule
and potential to extend mine life through exploration
success.
During the third quarter of 2017, the Materials Handling Project
achieved a key milestone transitioning from lateral development to
the construction and build phase. All equipment has been
engineered with full automation capabilities. Hoisting, crushing,
rock breaking and chutes have the ability to operate from multiple
locations including underground, surface and long distance
tele-operation from Thunder Bay. The current schedule will
allow for increased efficiency, reduced ramp traffic and balanced
power consumption. This will all be complimented by a
threefold increase of ore storage capacity at different locations
providing the operations flexibility while delivering continuous
product to the mill.
Completion of the project remains on schedule and is expected in
the first quarter of 2019.
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 contained in this press
release was reviewed and approved by Dan
Redmond, P.Geo, Director, Mine Planning and Reserves
for Goldcorp, and a "qualified person" as defined by Canadian
Securities Administrators' National Instrument 43-101 – Standards
of Disclosure for Mineral Projects ("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-analyzed and/or resubmitted as needed. All results stated in
this announcement have passed Goldcorp's quality assurance and
quality control protocols.
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, the United States Private Securities
Litigation Reform Act of 1995, or in releases made by the United
States Securities and Exchange Commission, all as may be amended
from time to time, 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 (as defined below) and Mineral Resources (as defined
below), 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 forward-looking
terminology such as "plans", "expects" , "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" ,
"believes", or variations or comparable language of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "should", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation thereof.
Forward-looking statements are necessarily based upon a number
of factors and assumptions 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,
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 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 the Company 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, silver, copper, lead
and zinc; possible variations in ore reserves, grade or recovery
rates; failure of plant, equipment or processes to operate as
anticipated; mine development and operating risks; accidents,
labour disputes and other risks of the mining industry; risks
associated with restructuring and cost-efficiency initiatives;
delays in obtaining governmental approvals or financing or in the
completion of development or construction activities; risks related
to the integration of acquisitions; risks related to indebtedness
and the service of such indebtedness, 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. Forward-looking statements 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 disposition, monetization, merger, acquisition,
other business combination or other transaction 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.
Cautionary Note Regarding Reserves and Resources
All Mineral Reserves and Mineral Resources have been calculated
in accordance with the standards of the Canadian Institute of
Mining, Metallurgy and Petroleum ("CIM") and NI 43-101, or the
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves equivalent. All Mineral Resources are
reported exclusive of Mineral Reserves. Mineral Resources that are
not Mineral Reserves do not have demonstrated economic viability.
Information on data verification performed on the mineral
properties mentioned in this press release that are considered to
be material mineral properties to the Company are contained in
Goldcorp's most recent annual information form and the current
technical report for each of those properties, all available on
SEDAR at www.sedar.com.
Cautionary Note to United
States investors concerning estimates of measured, indicated
and inferred resources: The Mineral Resource and Mineral Reserve
estimates contained in this press release have been prepared in
accordance with the requirements of the securities laws in effect
in Canada, which differ from the
requirements of United States
securities laws and uses terms that are not recognized by the
United States Securities and Exchange Commission ("SEC"). Canadian
reporting requirements for disclosure of mineral properties are
governed by NI 43-101. The definitions used in NI 43-101 are
incorporated by reference from the CIM Definition Standards adopted
by CIM Council on May 10, 2014 (the
"CIM Definition Standards"). U.S. reporting requirements are
governed by the SEC Industry Guide 7 ("Industry Guide 7") under the
United States Securities Act of 1933, as amended. These
reporting standards have similar goals in terms of conveying an
appropriate level of confidence in the disclosures being reported,
but embody difference approaches and definitions. For
example, the terms "Mineral Reserve", "Proven Mineral Reserve" and
"Probable Mineral Reserve" are Canadian mining terms as defined in
in NI 43-101, and these definitions differ from the definitions in
Industry Guide 7. Under Industry Guide 7 standards, a "final" or
"bankable" feasibility study is required to report reserves and the
primary environmental analysis or report must be filed with the
appropriate governmental authority. Further, under Industry
Guide 7, mineralization may not be classified as "reserve" unless
the determination has been made that the mineralization could be
economically and legally produced or extracted at the time the
reserve determination is made.
While 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, these terms
are not defined terms under Industry Guide 7 and are normally not
permitted to be used in reports and registration statements filed
with the SEC. United States
readers are cautioned not to assume that any part or all of mineral
deposits in these categories will ever be converted into reserves.
In addition, "Inferred Mineral Resources" have a great amount of
uncertainty as to their existence, and great uncertainty as to
their economic and legal feasibility. A significant amount of
exploration must be completed in order to determine whether an
Inferred Mineral Resource may be upgraded to a higher category.
Under Canadian regulations, estimates of Inferred Mineral Resources
may not form the basis of feasibility or pre-feasibility studies,
except in rare cases. United
States readers are cautioned not to assume that all or any
part of an Inferred Mineral Resource exists or is economically or
legally mineable. Disclosure of "contained ounces" in a resource is
permitted disclosure under Canadian regulations if such disclosure
includes the grade or quality and the quantity for each category of
Mineral Resource and Mineral Reserve; however, the SEC normally
only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
Accordingly, information contained in this press release
containing descriptions of the Goldcorp's mineral deposits may not
be comparable to similar information made public by United States companies subject to the
reporting and disclosure requirements under the United States federal securities laws and
the rules and regulations thereunder.
Appendix 1
Cerro Negro Silica Cap drill intercepts (link to
coordinates):
HOLE
ID
|
FROM
(m)
|
TO
(m)
|
TW
(m)
|
Au
g/t
|
Ag
g/t
|
SCDD-17010
|
325.00
|
329.00
|
4.00 *
|
7.40
|
12.70
|
344.00
|
383.80
|
39.80
*
|
5.95
|
14.41
|
SCDD-17011
|
76.00
|
80.00
|
4.00 *
|
15.70
|
88.91
|
90.70
|
95.50
|
4.80 *
|
11.46
|
60.93
|
215.30
|
221.70
|
6.40 *
|
8.91
|
52.85
|
SCDD-17014
|
221.20
|
229.25
|
5.16
|
5.72
|
49.84
|
SCDD-17016
|
169.80
|
170.70
|
0.84
|
3.03
|
34.64
|
391.40
|
395.00
|
3.36
|
6.13
|
54.80
|
SCDD-17021
|
248.00
|
255.70
|
7.55
|
9.09
|
43.64
|
451.00
|
456.10
|
4.39
|
3.71
|
16.12
|
SCDD-17029
|
80.50
|
112.50
|
30.69
|
19.10
|
76.40
|
|
Footnotes:
|
1. All gold and
silver values are uncut. NSV = no significant value
|
2. True widths are
estimated based on drill angle and interpreted geometry of
mineralization
|
3. Details of
analytical procedures including quality assurance / quality control
can be found in the 2016 Technical Report filed on Sedar
|
4. Drill results were
reviewed and approved by Cesar Riveros-MAusIMM (CP Geo),
Exploration Superintendent, Cerro Negro
|
* apparent
thickness
|
|
Coffee Project AmeriKona drill intercepts (link to
coordinates):
HoleID
|
Prospect
|
From
(m)
|
To
(m)
|
Drilled Width
(m)
|
True Width
(m)
|
Au
(g/t)
|
CFR1462
|
AmeriKona
|
NSV
|
CFR1463
|
AmeriKona
|
65.5
|
82.3
|
16.8
|
11.2
|
2.17
|
and
|
|
96.0
|
108.2
|
12.2
|
8.1
|
1.74
|
CFR1464
|
AmeriKona
|
21.3
|
22.9
|
1.5
|
1.0
|
1.08
|
CFR1465
|
AmeriKona
|
106.7
|
125.0
|
18.3
|
12.2
|
1.39
|
CFR1466
|
AmeriKona
|
56.4
|
79.3
|
22.9
|
15.2
|
1.58
|
and
|
|
99.1
|
105.2
|
6.1
|
4.1
|
1.38
|
CFR1467
|
AmeriKona
|
NSV
|
CFR1468
|
AmeriKona
|
88.4
|
115.8
|
27.4
|
18.3
|
1.37
|
CFR1469
|
AmeriKona
|
36.6
|
65.5
|
29.0
|
19.3
|
1.65
|
CFR1470
|
AmeriKona
|
152.4
|
164.6
|
12.2
|
8.1
|
2.79
|
and
|
|
187.5
|
199.6
|
12.2
|
8.1
|
1.14
|
CFR1471
|
AmeriKona
|
NSV
|
CFR1452
|
Americano
|
38.1
|
68.6
|
30.5
|
20.3
|
7.24
|
CFR1453
|
Americano
|
50.3
|
53.3
|
3.1
|
2.0
|
1.10
|
CFR1454
|
Americano
|
10.7
|
12.2
|
1.5
|
1.0
|
1.38
|
CFR1455
|
Americano
|
59.4
|
65.5
|
6.1
|
4.1
|
3.12
|
CFR1456
|
Americano
|
NSV
|
CFR1457
|
Americano
|
NSV
|
CFR1458
|
Americano
|
64.0
|
68.6
|
4.6
|
3.0
|
1.97
|
and
|
|
94.5
|
97.5
|
3.1
|
2.0
|
3.93
|
|
Footnotes:
|
1.
|
CFR = reverse
circulation ("RC").
|
2.
|
Data is current up to
September 20, 2017.
|
3.
|
All gold values are
uncut.
|
4.
|
True widths are
estimated based on drill angle and interpreted geometry of
mineralization to be approximately 2/3 of downhole
width.
|
5.
|
All samples were
submitted for analysis to ALS, Vancouver, British Columbia. All
samples were analyzed using a 30g fire assay with AES finish.
Samples over 10ppm gold were reanalyzed using gravimetric finish.
Batches were run at a minimum size of 30 samples, inserting a
minimum of two standards, one blank and a field
duplicate.
|
6.
|
RC drill holes are
sampled per 5' drill rod, with 'From/To' depth converted to metric
(meters).
|
7.
|
Tim Smith, P.Geo.,
Exploration Manager, is the QP responsible for the Coffee
exploration programs.
|
SOURCE Goldcorp Inc.