(All amounts in $US unless stated otherwise)
TSX: G NYSE: GG
VANCOUVER, Sept. 8, 2015 /CNW/ - GOLDCORP INC.
(TSX: G, NYSE: GG) is pleased to provide an update in
advance of its upcoming analyst and investor tour at the Éléonore
mine in the James Bay region of
Quebec.
Commercial production at Éléonore was declared on April 1, 2015 following the first gold pour on
October 1, 2014. First-half
2015 gold production totaled 76,300 ounces. Following
the successful resolution of previously-reported initial start-up
issues, underground development, mine tonnage production and mill
throughput have all increased in accordance with plan. In addition
to these improvements, higher second half gold production at
Éléonore is also dependent upon higher gold grades expected in
Horizon 4, the deepest of the four mining horizons that comprise
Éléonore's forecast 2015 gold production.
The Roberto deposit is hosted in sedimentary rock, and mined
material from all four horizons has identified a wide range of
folding and faulting consistent with the host rock package.
With the first mining stope from Horizon 4 now underway, in-situ
ore grades have been as expected, however higher than anticipated
folding is being encountered. Mining in these folded veins areas is
resulting in higher dilution and therefore lower than planned mined
grades and gold production. The Éléonore team is working to adjust
stope design to minimize these impacts.
As a result of these conditions, the Company has revised 2015
gold production guidance at Éléonore to between 250,000 and 270,000
ounces. Goldcorp's overall gold production remains on track,
with guidance unchanged and expected at the higher end of a range
between 3.3 million and 3.6 million ounces.
The Éléonore mill ramp-up continues to progress successfully,
with daily throughput averaging 5,418 tonnes in August and
achieving nameplate capacity of 7,000 tonnes on August 11, 2015. Ramp-up of the mine and
mill to full throughput of 7,000 tonnes per day remains on track
for the first half of 2018.
Exploration
Drilling in 2015 continues to target the lower portion of the
Roberto deposit below 650 metres in what will become Horizons 5 and
6. Positive results continue to support the potential for
successful conversion of resources to reserves and extend the
deposit at depth, which remains open including the core area.
Positive results continue in the 494 target area adding confidence
to the size and importance of this target.
Crown Pillar
Work on the Éléonore crown pillar pre-feasibility study
continues to advance in the third quarter with completion
anticipated by the end of 2015. Major activities included the
progression of the trade-off study between open pit and underground
mining, determination of the dike location, and permitting and
stakeholder engagement efforts.
Presentation slides to be used during the Éléonore tour are
available under the "Investor Resources-Presentations" section at
www.goldcorp.com.
About Goldcorp
Goldcorp is a leading gold producer focused on responsible
mining practices with safe, low-cost production throughout the
Americas. A portfolio of long-lived, high-quality assets
positions Goldcorp to deliver long-term value.
Scientific and technical information contained in this news
release was reviewed and approved by Gil
Lawson, P.Eng., Vice-President, Geology and Mine Planning
for Goldcorp, and a "qualified person" as defined by National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101").
Cautionary Note Regarding Forward Looking
Statements
This press release contains "forward-looking statements", within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 Section 21E of the United States Securities
Exchange Act of 1934, as amended, Section 27A of the United States
Securities Act of 1933, as amended and applicable Canadian
securities legislation, concerning the business, operations and
financial performance and condition of Goldcorp Inc. ("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
resources, the realization of mineral reserve estimates, the timing
and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the development of new
deposits, success of exploration activities, development at
existing mines, permitting timelines, hedging practices, currency
exchange rate fluctuations, requirements for additional capital,
government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, the completion of technical
studies and reports, 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 of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative
connotation thereof.
Forward-looking statements are necessarily based upon certain
estimates and assumptions and other important 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 estimates and 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 resources and
metallurgical recoveries, mining operational and development risks,
increased costs, delays, suspensions and technical challenges
associated with capital projects, litigation risks, regulatory
restrictions (including environmental regulatory restrictions and
liability), activities by governmental authorities (including
changes in taxation), 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 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 the integration of acquisitions; 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; environmental risks; future prices of gold, silver,
copper, lead, zinc and other commodities; possible variations in
ore reserves, grade or recovery rates; mine development and
operating risks; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing or in the completion of development or construction
activities; 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
annual information form for the year ended December 31, 2014 available at
www.sedar.com. 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 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 our operating
environment. Goldcorp does not undertake to update any
forward-looking statements that are included or incorporated by
reference in this document, except in accordance with applicable
securities laws.
SOURCE Goldcorp Inc.