(All amounts in $US unless stated otherwise)
VANCOUVER, Oct. 26, 2016 /CNW/ - GOLDCORP INC.
(TSX: G, NYSE: GG) today reported updated reserves and
resources as of June 30, 2016.
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 Éléonore. At the more
established camps, such as Red
Lake and Porcupine, we are
in the process of undertaking generative studies in the districts
and re-interpreting the geological information to extend the
reserves and resources."
"Since joining in August I have refined the exploration
strategy, strengthened the exploration team, and worked with the
site teams in the new decentralized model to ensure we are focused
on generating increasing NAV through the drill bit."
Exploration Strategy
Goldcorp's exploration strategy is twofold: firstly,
reserve replacement through the conversion of resources and
extending known mineralization at the mine sites; secondly,
development of a pipeline of targets which will deliver
opportunities for future discoveries. The exploration business will
be managed by applying both rigorous geological and stringent
economic filters to rank and prioritize targets which will then
either be advanced or rejected, while generative work ensures a
constant supply of new targets. The primary focus will be on
brownfields exploration and the leverage of the exploration
potential within the mining camps to increase the operations NAV
through new discoveries.
Reserves and Resources as of June 30,
2016
Goldcorp's proven and probable gold mineral reserves as of
June 30, 2016 were 42.3 million
ounces compared to 40.7 million ounces as of December 31, 2015. Proven and probable
silver mineral reserves totaled 694.0 million ounces, compared to
704.6 million ounces as of December 31,
2015. Total measured and indicated gold mineral resources
increased by 6.2 million ounces to 44.0 million ounces. In
addition, inferred gold resources increased by 4.1 million ounces
to 22.5 million ounces. The increase in resources is largely a
result of the new Dome Century and Coffee projects.
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 Éléonore. 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 $1,100 per ounce for
2015 to $1,200 per ounce for
2016. With a focus on high margin ounces, a gold price
assumption of $1,300 per ounce, gold
reserves could increase by approximately 3.2 million ounces, a gold
price assumption of $1,100 could
decrease reserves by approximately 1.9 million ounces.
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 December 31 to June 30 in
2016. This change resulted in a shortened six month period of
exploration information instead of a full year, as in prior years.
The shorter time period, compounded with seasonally lower drilling
in December and January, led to less exploration data than usual
for the resource and reserve update.
Highlights:
Porcupine
Proven and probable gold mineral reserves as of June 30, 2016 totaled 2.28 million ounces
compared to 2.13 million ounces as of December 31, 2015. The increase is due to
the extension of the life at the Dome underground and conversion of
resources to reserves from successful exploration at Hoyle
Pond. The measured and indicated gold mineral resources
totaled 8.52 million ounces, compared to 4.59 million ounces as of
December 31, 2015. Inferred
gold mineral resources totaled 2.38 million ounces, compared to
1.64 million ounces as of December
31, 2015. The increase in resources is primarily a
result of the potential extension of the Dome open pit (see Dome
Century project below).
Dome Century Project
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 (Owl Creek and Hoyle Pond) to provide
additional areas for operational flexibility.
The Timmins District is one of
the most prolific gold producing regions of the world and Goldcorp
controls a large area of prospective claims which have been mined
for more than 105 years. The Company is embarking on a district
scale generative study which will incorporate various geological
data layers as well as historical drill hole and mine data, with
the aim of developing a pipeline of open pit and underground
opportunities.
Borden
Probable gold mineral reserves increased to 0.95 million ounces
as of June 30, 2016 compared to 0.86
million ounces as of December 31,
2015. The increase was a result of in-fill drilling and
engineering optimization.
The Borden deposit is located
along a subtle flexure on the southern limb of a major regional
fold. Exploration work, while continuing to confirm the geological
model of the deposit, is also drill testing the hinge zone of the
regional fold as well as the on-strike trend of the deposit to the
north-west.
Goldcorp holds claims which cover an area of 958 square
kilometers over the Borden Lake Belt and beyond, and is embarking
on a generative study which will include the collection of field
data, sampling as well as the interpretation of geophysical and
geological data to provide a portfolio of targets for future
evaluation.
Peñasquito
Proven and probable gold mineral reserves as of June 30, 2016 totaled 10.02 million ounces
compared to 10.17 million ounces as of December 31, 2015. The decrease was
principally due to model depletion largely offset by positive
changes to the geological block-model and the higher assumed gold
price.
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 Peñasquito, 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
Peñasquito, initial drilling in 2015 returned promising results,
including mineralized breccias similar to those at Peñasquito.
Follow-up drilling is awaiting the necessary permits.
Cerro Negro
Proven and probable gold mineral reserves as of June 30, 2016 totaled 4.85 million ounces,
compared to 4.66 million ounces as of December 31, 2015. The increase was a
result of resource conversion through exploration and a higher gold
price assumption, partially offset by depletion and higher
operating cost assumptions.
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 Goldcorp's exploration concession within the
Province of 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.
Éléonore
Proven and probable gold mineral reserves totaled 4.57 million
ounces as of June 30, 2016, compared
to 5.35 million ounces as of December
31, 2015. The decrease was primarily due to depletion
and reserve ounces from 2015 being reclassified into
resources. During the year efforts were focused on increasing
drill density and optimizing the mine plan and stope design.
The additional information has allowed Éléonore to design smaller,
higher grade stopes, although faster sequencing and additional ore
development will be required. The updated mine plan
associated with the June 30, 2016
reserves is expected to provide lower dilution, and higher grade
feed, and increase average annual production compared to the
previous reserve mine plan, increasing NAV. Further drilling
and mine design updates will concentrate on converting the
resources back into reserves.
The focus of exploration at Éléonore 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
Éléonore 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.
Red Lake
Proven and probable gold mineral reserves as of June 30, 2016 totaled 2.03 million ounces
compared to 2.08 million ounces as of December 31, 2015. During 2016, exploration
drilling continued on the R Zone, PLM Zone and the F Zone.
Reserves declined slightly as a result of mining depletion,
partially offset by the higher gold price assumption.
At Red Lake there are two key
growth projects, Cochenour and HG
Young. The Cochenour project is an important part of
Goldcorp's future plans in the Red
Lake district. In 2016, exploration has been focused
on building a robust geological model in the Upper Main Zone
through tight spaced drilling, ramping and development. A
bulk sampling program has been initiated to confirm metallurgical
behaviour and recovery assumptions.
The tight spaced drilling at the Upper Main Zone of Cochenour has resulted in an initial gold
indicated mineral resource. The current gold indicated
mineral resource is 289,000 ounces (598,000 tonnes at 15.03 g/t)
and gold inferred mineral resource is 2.15 million ounces (3.91
million tonnes at 17.09 g/t) as of June 30,
2016. This compares to a gold inferred mineral
resource of 2.19 million ounces (4.16 million tonnes at 16.36 g/t)
as of December 31, 2015.
Further infill drilling as well as step out drilling is planned at
the Upper Main Zone during the fourth quarter of 2016 and in
2017.
At HG Young, gold indicated mineral resources as of June 30, 2016 increased to 166,000 ounces
(304,000 tonnes at 17.02 g/t) compared to 126,000 ounces (205,000
tonnes at 19.08 g/t) as of December 31,
2015, and gold inferred mineral resources increased to
693,000 ounces (1.19 million tonnes at 18.08 g/t) compared to
517,000 ounces (787,000 tonnes at 20.44 g/t) as of December 31, 2015. The increase was the
result of infill and step out drilling.
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 Red
Lake greenstone belt, similar to the study at Timmins, by integrating all of the known
datasets to provide a pipeline of targets for testing.
Musselwhite
Proven and probable gold mineral reserves totaled 1.69 million
ounces as of June 30, 2016 compared
to 1.72 million ounces as of December
31, 2015. The decrease was a result of mining
depletion and infill drilling further defining the limits of the
Lynx zone, offset by reserve expansion.
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 December 31, 2015. Following
the acquisition of Kaminak on July 19,
2016, exploration at the Coffee project has been focused on
the evaluation of early stage (identified) targets to develop a
pipeline of future growth opportunities. Scout reverse circulation
("RC") and diamond drilling are underway on seven targets which
have well defined gold in soil anomalies: Arabica, Supremo T8, T3
North, Espresso, Americano, Kazaar and Kona. Encouraging
results have so far been returned from the Arabica, Kona and
Espresso targets supporting the potential for additional oxide
material. In addition, diamond drill holes have been
completed at Latte for metallurgical testwork of sulphide
mineralization, beneath the known oxide zones.
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-Sumatra structural
trends.
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 September
2016 (one completed to depth, one abandoned) intersected
narrow zones of deformation and alteration typical of Coffee–style
mineralization; assays are pending.
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)
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
|
Éléonore
|
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
|
Peñasquito Heap
Leach
|
Mexico
|
10.47
|
0.40
|
0.13
|
0.30
|
Peñasquito
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
|
Peñasquito Heap
Leach
|
Mexico
|
10.47
|
22.56
|
7.60
|
15.41
|
Peñasquito
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
|
Peñasquito
Mill
|
Mexico
|
589
|
0.28
|
3,684
|
3,701
|
TOTAL
LEAD
|
589
|
0.28
|
3,684
|
3,701
|
ZINC
|
Mt
|
%
Zn
|
Mlbs
|
Mlbs
|
Peñasquito
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)
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
|
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
|
Éléonore
|
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
|
Peñasquito Heap
Leach
|
Mexico
|
22.56
|
0.21
|
0.15
|
0.26
|
Peñasquito
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
|
Peñasquito Heap
Leach
|
Mexico
|
22.56
|
26.38
|
19.13
|
29.45
|
Peñasquito
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
|
Peñasquito
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
|
Peñasquito
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
|
Éléonore
|
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
|
Peñasquito Heap
Leach
|
Mexico
|
0.04
|
0.01
|
0.00
|
0.01
|
Peñasquito
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
|
Peñasquito Heap
Leach
|
Mexico
|
0.04
|
5.02
|
0.01
|
0.28
|
Peñasquito
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
|
Peñasquito
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
|
Peñasquito
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 (Coffee Project):
|
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 Goldcorp, and
a "qualified person" as defined by National Instrument 43-101 –
Standards of Disclosure for Mineral Projects ("NI 43-101").
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. 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 news release that are
considered to be material mineral properties to the Company are
contained in Goldcorp's annual information form for the year ended
December 31, 2015 and the current
technical report for each of those properties, all available at
www.sedar.com.
Tim Smith, P.Geo., Exploration
Manager, Coffee Gold Project, is the Qualified Person responsible
for the implementation of the exploration drill program at Coffee,
and has reviewed and approved this release on the discussion for
Coffee. Further information pertaining to the Coffee project
is available on the website at www.goldcorp.com
Cautionary Note to United
States investors concerning estimates of measured, indicated
and inferred resources: This document has been prepared in
accordance with the requirements of the Canadian securities laws
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"). The terms "Mineral Reserve", "Proven
Mineral Reserve" and "Probable Mineral Reserve" are Canadian mining
terms as defined in accordance with the CIM Definition Standards
adopted by CIM Council on May 10,
2014 (the "CIM Definition Standards") which were
incorporated by reference in NI 43-101. These definitions differ
from the definitions in SEC Industry Guide 7 ("SEC Industry Guide
7") under United States securities
laws. Under SEC Industry Guide 7 standards, a "final" or "bankable"
feasibility study is required to report reserves or cash flow
analysis to designate reserves and the primary environmental
analysis or report must be filed with the appropriate governmental
authority.
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 SEC. United States investors are cautioned not to
assume that any part or all of mineral deposits in these categories
will ever be converted into reserves. "Inferred Mineral Resources"
have a great amount of uncertainty as to their existence and 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 investors 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 Company'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.
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 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 above) and Mineral Resources (as defined
above), 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", "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 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 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. 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 the Company'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.
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.
SOURCE Goldcorp Inc.