VANCOUVER, Oct. 25, 2017 /PRNewswire/ - GOLDCORP INC.
(TSX: G, NYSE: GG) ("Goldcorp" or the "Company") is pleased to
provide an update to the Company's Mineral Reserve and Mineral
Resource estimates as of June 30,
2017.
Highlights:
- Proven and Probable Gold Mineral Reserves Increased by 26%
to 53.5 Million Ounces. The increase is primarily due to the
successful conversion of 4.7 million ounces into mineral reserves
at Century and the acquisition, net of non-core divestitures, of
8.4 million ounces of gold mineral reserves. The company is on
track to achieve a targeted 60 million ounces of gold reserves by
2021 as part of its 20/20/20 growth plan.
- Inaugural Gold Mineral Reserve of 4.7 Million Ounces at
Porcupine's Large-Scale Century Project and Completion of the Base
Case Pre-feasibility Study. The Base Case Pre-Feasibility Study
was positive and Goldcorp believes that exploration drilling and
the upcoming optimization study could continue to add value to this
organic project with low execution risk in a proven mining
district.
- Strong Portfolio of Exploration Projects, Led by Cerro Negro
and Coffee, to Provide Pipeline of Opportunities for Continued
Future Reserve Growth. At the Silica Cap vein, gold and silver
mineralization has been confirmed over a strike length of more than
1,300m and vertical depths of 350m. At Coffee, the new AmeriKona
zone is delineated over a 200m strike of mineralization, and is
undergoing further drill testing to connect to the Kona North zone
with the potential to form a 950m contiguous mineralized zone.
"With the initial gold reserve estimate at Century completed, we
are now more than one third of the way toward reaching our target
of 60 million ounces of gold reserves by 2021. The continued
exploration success at Coffee and Cerro Negro is a direct result of
our new, systematic approach to exploration and is expected to
contribute toward that goal," said Paul
Harbidge, Senior Vice-President Exploration. "Our
exploration strategy for the coming year will continue to focus on
brownfield targets at or near our existing camps where we have
demonstrated a high rate of success. We are excited by the
exploration potential of our newly acquired Cerro Casale/Caspiche
Project where, in addition to the two main deposits, there are
numerous satellite and early stage targets for evaluation."
Reserves and Resources as of June
30, 2017
Goldcorp's proven and probable gold mineral reserves as of
June 30, 2017 totaled 53.5 million
ounces compared to 42.3 million ounces as of June 30, 2016, an increase of 26%. The addition
of 11.2 million ounces of gold mineral reserves during the period
includes 5.6 million ounces converted from successful exploration
and mine design optimization, primarily driven by the inaugural
gold mineral reserves of 4.7 million ounces at Porcupine's Century
Project. The balance of the increase in reserves comes as result of
the acquisition of 50% of Cerro Casale which resulted in the
addition of 8.4 million ounces, net of non-core divestments
including Los Filos and Camino
Rojo1. Goldcorp reported 2.8 million ounces
of attributable gold production during the twelve month period
ended June 30, 2017, which after
excluding the effects of Los Filos and Marlin, resulted in 2.8
million ounces of depletion.
Measured and Indicated gold mineral resources remained
relatively unchanged after giving effect to the impact of the
successful conversion of indicated mineral resources into proven
and probable mineral reserves at Century, the addition of 50% of
Caspiche and Cerro Casale, which added 13.3 million ounces, mainly
offset by the sales of Los Filos and Camino
Rojo1, which together removed 17.5 million
ounces. The sale of Cerro
Blanco and San Nicolas also contributed to a reduction in
measured and indicated mineral resources of 1.1 million ounces.
Inferred mineral resources decreased to 20.0 million ounces from
22.5 million ounces, primarily as a result of the sale of Los
Filos.
Mineral reserve estimates were based on a gold price of
$1,200 per ounce while mineral
resources were estimated using a gold price of $1,400 per ounce. Gold price assumptions were
unchanged from last year's estimates. Complete mineral
reserve and mineral resource information, including tonnes and
grades for all metals and details of the assumptions used in the
calculations, can be found in the table and associated notes below
or on the Company website here.
_____________________________
|
1 The sale
of Camino Rojo remains pending and subject to the satisfaction of
customary conditions precedent. Goldcorp has removed Camino Rojo
from its Mineral Reserve and Mineral Resource Estimates as of June
30, 2017. The sale is expected to close in the fourth quarter of
2017.
|
Porcupine
Proven and probable gold mineral reserves as of June 30, 2017 totaled 8.1 million ounces,
compared to 2.3 million ounces as of June
30, 2016. The significant increase in gold mineral reserves
is a result of the conversion of 4.7 million ounces from the
indicated category at the Century Project. Borden mineral reserves remained unchanged at
0.95 million ounces and are now included into the June 30, 2017 Porcupine estimate. Excluding
Century and Borden, mineral
reserve additions at Porcupine are exceeding mine depletion and are
a result of exploration success and engineering.
At Century, the base case pre-feasibility study was based on the
following:
Century Project -
Base Case Pre-feasibility Study
|
Mine Life
|
14 years
|
Contained Gold
Ounces
|
5,710,000
|
Plant Size
|
50,000 t/d
|
Gold Grade
(diluted)
|
0.87 g/t
|
Gold
Recovery
|
88%
|
Strip Ratio (waste to
ore)
|
4.5:1
|
Operating Costs
(Mining, Process, G&A)
|
US$17 to US$18/tonne
processed
|
Initial
Capex1
|
US$950 to US$1,050
million
|
Sustaining Capital
and Tailings Expansion
|
US$350 to US$400
million
|
1 Includes
10% contingency
|
|
The base case pre-feasibility study is based on a total mineral
reserve estimate of 5.7 million ounces of gold, including 1.0
million ounces of previously reported mineral reserves from the
Pamour pit, which have been integrated into the proposed Century
project. However, the study excludes approximately 1.0
million ounces of inferred mineral resources within the existing
Dome reserve pit design, which the Company expects a portion to be
converted following additional exploration drilling. Over the
course of the next year, Goldcorp will conduct a series of tradeoff
studies to further optimize the project with a focus on evaluating
the latest technologies to reduce project footprint and 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 will all be studied
as part of this process. The optimized pre-feasibility is expected
to be completed in the second half of 2018.
In 2018, reserve replacement will be focused on the evaluation
of the down plunge extension of the mineralized veins at Hoyle Pond
and the conversion of a portion of the inferred resources contained
within the Century's Dome pit design.
Exploration efforts will be focused on following up on the
results of the prospectivity analysis completed over the
Timmins district. Core drilling
commenced on the first priority target, Ethier. The first two holes
cut quartz tourmaline veins hosted by mafic volcanics, confirming
the geological model and indicating similarities to Hoyle Pond.
Gold assay results are pending. During the course of 2018, drilling
is also planned for Snowy Owl and the Coniaurum-McIntyre
mineralized trend.
At Borden, exploration will
continue to focus on developing the geological model for the
deposit as well as completing reconnaissance work over the greater
claim block to provide a portfolio of early stage targets for
testing in 2018.
Musselwhite
Proven and probable gold mineral reserves as of June 30, 2017 totaled 1.9 million ounces,
compared to 1.7 million ounces as of June
30, 2016. Exploration success and mine design optimization
resulted in the addition of 0.4 million ounces, more than
offsetting depletion of 0.3 million ounces.
Drill programs continued to test and confirm the down plunge
continuity of mineralization in the west limb of the deposit, which
is expected to account for the majority of reserve replacement in
2018.
The surface drill program on the north shore of Opapamiskin
Lake, which is a 1.1km step out from known reserves, continued
during the third quarter. The initial pilot hole (17-NSD-001) was
completed in late July 2017 to a
depth of 2,130m. The hole drilled steeper than planned and
intersected a zone of mineralization below the planned PQ Deeps
returning 3.2 g/t over 2.7m from 2,036.3m within the Northern Iron
Formation. A first wedge hole (17-NSD-002) was also completed and
intersected the PQ Deeps mineralization returning 2.0 g/t over 4.5m
from 2,042.5m associated with shearing, quartz flooding and
pyrrhotite mineralization. A third wedge hole commenced to further
test the PQ Deeps lode 100m up plunge. While the initial gold
grades are low, the Company believes this demonstrates the
extension of the WEL mineralization more than 1km from known
mineral reserves and will be the focus of further drilling going
forward.
Work is progressing on the property scale exploration and plans
are underway to drill test the first target away from the main
deposit, Karl Zeemal, during the winter season.
Red Lake
Proven and probable gold mineral reserves as of June 30, 2017 totaled 2.2 million ounces,
compared to 2.0 million ounces as of June
30, 2016. Mine depletion was fully offset by the combination
of resource conversion as a result of successful exploration and
more favorable economic parameters used in the estimate.
The 10% increase in gold reserves is primarily a result of the
initial mineral reserve estimate of 0.15 million ounces at
Cochenour. The test stope mined at
Upper Cochenour earlier this year performed as expected and in
combination with a positive outcome of the pre-feasibility study,
the development focus will shift from drill platforms to lateral
development in 2018. The block model updated as part of the
pre-feasibility study provided enough confidence resulting in the
conversion of ounces into the reserve category.
The new mine plan at Cochenour
is expected to contribute 5,000 to 10,000 ounces in 2018 and
approximately 30,000 to 50,000 ounces annually to the overall
production at the Red Lake camp
once in production, which is expected in 2019. As the
understanding of the Cochenour
deposit continues to advance, the aim is to maintain resource
conversion and perpetuate a constant production level in future
years. The production profile remains based on a starter mine
approach and Cochenour continues
to have potential through expansion at depth and laterally to
further increase annual production. Cochenour has 0.3 million ounces of measured
and indicated mineral resources and 2.0 million ounces of inferred
mineral resources already defined.
At the HG Young Complex, during the third quarter of 2017, the
Company completed a study evaluating the trade-off for the
preferred method for accessing the deposit, updated the geological
interpretation with additional drilling data, and evaluated the
project economics to determine whether further investment was
warranted. The study concluded that the preferred
access has shifted from a surface decline to underground access
from the Campbell mine on either the 14 level and/or 21 level based
primarily on the favorable drilling results obtained between 11 and
21 levels and the potential for continuity at lower levels as the
deposit is open at depth. The updated mineral resource
estimate provided 0.2 million ounces of measured and indicated
mineral resources and 0.3 million ounces of inferred mineral
resources.
Based on the positive overall results of the study, the Company
will invest in a further study with the goal to double and upgrade
the current resource by 2019, primarily through infill drilling and
extending the deposit at depth. Expenditures will primarily
be related to development on the 14 and 21 levels to provide
drilling platforms and additional drilling. In the event of a
positive outcome of the further study, the Company would commence
the development of the preferred material handling system in order
to facilitate production. Goldcorp expects the HG Young
Complex could become an integral part of the Red Lake mine plan in the future.
As well as advancing Cochenour,
HG Young and other targets within the Red
Lake deposit to further convert resources into reserves,
exploration embarked on a complete review of the Red Lake belt. The first step in this exercise
is the collation, scanning, digitization and layering of more than
60 years of historical data. Once completed, this data will be
incorporated into a prospectivity analysis that will drive
exploration through 2018 and beyond.
Cerro Negro
Proven and probable gold mineral reserves as of June 30, 2017 totaled 4.9 million ounces,
relatively unchanged compared to June 30,
2016. Depletion was fully offset by exploration success at
Mariana Norte Este B and Eureka and by mine design optimization
leading to lower cut-off grade and dilution assumptions in certain
areas of the mine.
The exploration program ramped up this year with the aim of
increasing resources to outpace reserve depletion. The current
strategy is to outline the economic potential of at least three new
veins for infill drilling. The first vein system to achieve this
status is Silica Cap, where 33 diamond holes totaling 15,876m were
drilled during the third quarter of 2017.
The exploration program at Silica Cap identified two main,
parallel and south/south-west dipping, quartz veins named Silica
Cap (500 vein) and Gato Salvaje (600 vein). At the Silica Cap
vein, gold and silver mineralization has been confirmed over a
strike length of more than 1,300m and vertical depths of 350m,
while the Gato Salvaje vein was traceable for at least 800m along
the strike and a vertical extension of 350m. The veins show classic
epithermal textures as banded quartz and brecciation with hematite
and jarosite. Drill core assay results received during the
quarter are summarized below:
Mineralized intervals from the Silica Cap 500 vein.
HOLE
ID
|
From
(m)
|
To
(m)
|
True
Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
SCDD-17014
|
221.20
|
229.25
|
5.10
|
5.72
|
49.84
|
SCDD-17016
|
391.40
|
395.00
|
3.36
|
6.13
|
54.80
|
SCDD-17020
|
579.25
|
583.15
|
3.59
|
2.07
|
4.04
|
SCDD-17023
|
302.20
|
314.00
|
10.29
|
3.31
|
7.94
|
SCDD-17029
|
80.50
|
112.50
|
30.69
|
19.10
|
76.40
|
SCDD-17027
|
209.75
|
210.25
|
0.45
|
0.93
|
2.03
|
SCDD-17040
|
362.95
|
365.00
|
1.83
|
4.16
|
19.35
|
Mineralized intervals from the Silica Cap 600 (Gato Salvaje)
vein.
HOLE
ID
|
From
(m)
|
To
(m)
|
True
Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
SCDD-17017
|
471.40
|
487.30
|
14.87
|
1.88
|
5.77
|
SCDD-17020
|
360.80
|
365.60
|
4.48
|
2.62
|
7.97
|
SCDD-17021
|
248.00
|
255.70
|
7.55
|
9.09
|
43.64
|
SCDD-17040
|
109.70
|
116.60
|
5.66
|
9.38
|
54.10
|
|
Notes:
|
1.
|
True widths are
estimated based on drill angle and interpreted geometry of
mineralization
|
2.
|
Details of analytical
procedures including quality assurance / quality control can be
found in the 2016 Technical Report filed on Sedar
|
3.
|
Drill results were
reviewed and approved by Cesar Riveros-MAusIMM (CP Geo),
Exploration Superintendant, Cerro Negro
|
4.
|
Selected data is for
the quarter ended September 30, 2017
|
In the greater Vein Zone area, which includes the deposits of
Bajo Negro, Vein Zone and advanced target of Silica Cap, a fence
line of drill holes was completed across the geological strike of
the mineralized trend to explore the potential occurrence of
additional veins between known deposits of Vein Zone and Bajo Negro
based on similar occurrences in other districts both at Cerro Negro
and around the world. Hole VBDD017008 intersected a new vein named
'Alpha' returning 2.65m at 7.16 g/t gold and 95.79 g/t silver from
92.10m confirming the prospectivity of this district. Further
drilling is being planned.
Exploration drilling commenced on the second vein target of
Eureka SE, a 600m exposed quartz vein complex at surface with total
target length of 4km. The near surface portion of the vein was
drill tested in 2011 confirming continuity of the silica structure
but did not encounter significant mineralization. Deeper
holes drilled at the western limit of target in 2013, below the
500m level, returned higher values up to 7.54 g/t gold over 14.30m
and 3.88 g/t gold over 12.75m. The geometry of this shoot was
not defined and remained open to the southeast.
The current drill program is designed to evaluate the Eureka SE
system, initially through a wide spacing drill program along its
prospective strike, but at a lower vertical elevation. The
first hole intersected broad, low grade gold mineralization 300m to
the southeast of the previous intercepts (1.22 g/t gold over 10.85m
in EDD-17001). In order to accelerate the program, a reverse
circulation drill rig was used for pre-collaring of the
holes. Drilling of this target will continue during the
fourth quarter of 2017.
Peñasquito
Proven and probable gold mineral reserves as of June 30, 2017 totaled 9.0 million ounces,
compared to 10.0 million ounces as of June
30, 2016. Mine depletion accounted for 0.7 million ounces,
while higher input costs and updated metallurgical recoveries lead
to a change in cut-off grade resulting in the reclassification of
approximately 0.4 million ounces into the measured and indicated
mineral resource category.
Exploration at Peñasquito is now focused on the evaluation of a
portfolio of 23 early stage targets which were highlighted through
generative work in 2017 and which the Company expects will drive
the future success of the district.
Eleonore
Proven and probable gold mineral reserves as of June 30, 2017 totaled 3.8 million ounces,
compared to 4.6 million ounces as of June
30, 2016. Mine depletion and resource model variance
accounted for a decrease of 0.3 million ounces and 0.2 million
ounces respectively, while engineering changes resulted in the
reclassification of 0.3 million ounces into the measured and
indicated mineral resource category.
While further drilling and production results continue to define
the geological complexity of the orebody, in 2017, Goldcorp
continued its efforts to improve the geological understanding and
the reliability of its reserve and resource estimates and optimized
production profile. As part of a broader program of generative
exploration, efforts at the Eleonore Mine have been refocused on
opportunities in the upper part of the mine and in the broader
geological district. The summer exploration field season resulted
in mapping, sampling and data integration over 9 early stage target
areas, the first field work on the property in more than 10 years.
The data is currently being interpreted to define and prioritize
drill targets for the winter program.
Coffee
Proven and probable gold mineral reserves as of June 30, 2017 remained unchanged at 2.2 million
ounces. The seasonal nature of the drill program at Coffee did not
allow time to incorporate all recent results into an updated
mineral reserve estimate. As the program concludes in the upcoming
weeks, the complete results of the program will be incorporated
into the geological model and Goldcorp will provide an update
during the first quarter of 2018.
During the third quarter, a total of 22,073m were drilled,
taking the 2017 season total to 58,879m drilled on the
property.
As outlined recently in Goldcorp's September 25, 2017 new release, drilling in the
western area of Coffee discovered new mineralization located
between the Kona North deposit and the Americano zones. This
new zone, named AmeriKona, currently comprises 200m strike
delineated on 50m spaced drill centers, and wholly to partially
oxidized mineralization which extends to 75m below surface.
AmeriKona lies directly along strike of Kona North, separated by
approximately 250m, which is currently undergoing drill testing in
order to link the two zones into a contiguous mineralized zone. If
connected, the zones could have up to 950m strike. In
addition, AmeriKona and Kona North lie at the eastern end of a 4km
strike length mineralized corridor defined by semi-contiguous
gold-in-soil geochemistry and a coincident linear magnetic
low. Exploration drilling is also underway to link AmeriKona
with the previously defined Americano zone located 1.1km west,
along strike. Additional drill results were received from
this target since the September 25,
2017 news release and are presented in the table below.
Mineralized intervals from the AmeriKona target
HOLE
ID
|
From
(m)
|
To
(m)
|
Drilled
Width
(m)
|
True
width
(m)
|
Au
(g/t)
|
Diamond drill
holes
|
CFD0681
|
35.0
|
46.0
|
11.0
|
7.3
|
1.01
|
and
|
64.0
|
75.0
|
11.0
|
7.3
|
0.95
|
and
|
131.0
|
132.0
|
1.0
|
0.7
|
1.22
|
RC drill
holes
|
CFR1462
|
No Significant
Value
|
CFR1463
|
65.5
|
82.3
|
16.8
|
11.2
|
2.17
|
and
|
96.0
|
108.2
|
12.2
|
8.1
|
1.74
|
CFR1464
|
21.3
|
22.9
|
1.5
|
1.0
|
1.08
|
CFR1465
|
106.7
|
125.0
|
18.3
|
12.2
|
1.39
|
CFR1466
|
56.4
|
79.3
|
22.9
|
15.2
|
1.58
|
and
|
99.1
|
105.2
|
6.1
|
4.1
|
1.38
|
CFR1467
|
No Significant
Value
|
CFR1468
|
88.4
|
115.8
|
27.4
|
18.3
|
1.37
|
CFR1469
|
36.6
|
65.5
|
29.0
|
19.3
|
1.65
|
CFR1470
|
152.4
|
164.6
|
12.2
|
8.1
|
2.79
|
and
|
187.5
|
199.6
|
12.2
|
8.1
|
1.14
|
CFR1471
|
No Significant
Value
|
Notes. RC holes are
sampled per 5' drill rod and the 'From/To' meters are subsequently
converted to metric; the converted depth measurements quoted at 2
decimal places does not indicate centimeter accuracy of
sampling. True width of intersected mineralized zones
averages 2/3 of downhole width.
|
Goldcorp recognizes the potential for the Coffee deposit to host
significant transitional and sulphide resources given all the
mineralized structures extend over several kilometers strike. Those
mineralized structures have however only been tested to relatively
shallow depths of approximately 200m below the surface and remain
open down dip. In addition to recent high grade sulphide
intercepts at West Coffee, Goldcorp embarked upon a first phase of
deep drilling to test the sulphide potential of the project at the
Latte and Supremo T3 targets. Three holes were completed during the
third quarter of 2017 and intersected the structures as modelled.
All gold assay results are pending.
Cerro Casale & Caspiche Project
The acquisition of 50% of the Cerro Casale and Caspiche Projects
provided 11.6 million ounces of gold mineral reserves, 13.3 million
ounces of measured and indicated gold mineral resources and 3.9
million ounces of inferred gold mineral resources. Together, the
Cerro Casale and Caspiche Projects are part of a large
multi-million ounce district with numerous underexplored and
untested targets.
Goldcorp commenced an aggressive exploration program which
includes three areas of focus:
- Validation of the geological models of the two main deposits,
Cerro Casale and Caspiche, through a re-log of approximately
140,000m of drill core;
- An initial 16,000m diamond drill program is due to commence on
December 1, 2017 to increase the
geological confidence of both deposits as well as providing samples
for metallurgical testwork and geotechnical data; and
- Data evaluation of four satellite targets which Goldcorp
believes demonstrate strong exploration potential.
Exploration Outlook
Goldcorp's $100 million
exploration budget in 2017 has been almost entirely allocated to
brownfield projects in existing camps with the primary focus to
leverage exploration potential in known and proven mining
districts. The Company continues to focus on target generation in
those same districts to ensure a constant supply of new targets to
support the Company's goal to grow gold reserves to 60 million
ounces by 2021. The road map to achieving this goal is predicated
on continued exploration success at Coffee and Cerro Negro, the
potential to add and convert mineral resources into reserves at
Caspiche and Pueblo Viejo and other exploration successes across
the portfolio as exploration targets systematically move up the
Resource Triangle.
Goldcorp Mineral
Reserves
As of June 30, 2017
|
|
|
|
|
PROVEN
|
|
PROBABLE
|
|
PROVEN &
PROBABLE
|
|
As of
06-30-2016
|
|
Ownership
|
Tonnage
|
Grade
|
Contained
|
|
Tonnage
|
Grade
|
Contained
|
|
Tonnage
|
Grade
|
Contained
|
|
Contained
|
Gold
|
|
mt
|
g/t
|
m
oz
|
|
mt
|
g/t
|
m
oz
|
|
mt
|
g/t
|
m
oz
|
|
m
oz
|
Alumbrera
|
37.5%
|
15.11
|
0.39
|
0.19
|
|
1.43
|
0.37
|
0.02
|
|
16.54
|
0.39
|
0.21
|
|
0.12
|
Cerro
Casale
|
50.0%
|
114.85
|
0.65
|
2.39
|
|
483.95
|
0.59
|
9.23
|
|
598.80
|
0.60
|
11.62
|
|
-
|
Cerro
Negro
|
100.0%
|
4.46
|
8.79
|
1.26
|
|
12.67
|
8.85
|
3.60
|
|
17.13
|
8.83
|
4.86
|
|
4.85
|
Coffee
|
100.0%
|
-
|
-
|
-
|
|
46.36
|
1.45
|
2.16
|
|
46.36
|
1.45
|
2.16
|
|
2.16
|
El Morro
|
50.0%
|
160.91
|
0.56
|
2.91
|
|
138.62
|
0.35
|
1.55
|
|
299.53
|
0.46
|
4.46
|
|
4.46
|
Éléonore
|
100.0%
|
2.73
|
6.94
|
0.61
|
|
16.88
|
5.87
|
3.19
|
|
19.61
|
6.02
|
3.80
|
|
4.57
|
Musselwhite
|
100.0%
|
3.94
|
7.22
|
0.91
|
|
4.91
|
5.92
|
0.93
|
|
8.84
|
6.50
|
1.85
|
|
1.69
|
Peñasquito
|
100.0%
|
361.18
|
0.59
|
6.80
|
|
163.57
|
0.41
|
2.14
|
|
524.75
|
0.53
|
8.95
|
|
10.02
|
Porcupine
|
100.0%
|
13.55
|
1.91
|
0.83
|
|
214.86
|
1.04
|
7.21
|
|
228.41
|
1.10
|
8.05
|
|
3.22
|
Pueblo
Viejo
|
40.0%
|
40.45
|
2.82
|
3.67
|
|
16.77
|
3.19
|
1.72
|
|
57.21
|
2.93
|
5.39
|
|
5.97
|
Red Lake
|
100.0%
|
1.50
|
11.01
|
0.53
|
|
7.34
|
6.97
|
1.64
|
|
8.84
|
7.65
|
2.17
|
|
2.03
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
3.19
|
Totals
|
|
718.67
|
0.87
|
20.11
|
|
1,107.35
|
0.94
|
33.40
|
|
1,826.02
|
0.91
|
53.51
|
|
42.29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Silver
|
|
mt
|
g/t
|
m
oz
|
|
mt
|
g/t
|
m
oz
|
|
mt
|
g/t
|
m
oz
|
|
m
oz
|
Cerro
Casale
|
50.0%
|
114.85
|
1.91
|
7.04
|
|
483.95
|
1.43
|
22.30
|
|
598.80
|
1.52
|
29.34
|
|
-
|
Cerro
Negro
|
100.0%
|
4.46
|
75.52
|
10.83
|
|
12.67
|
61.02
|
24.86
|
|
17.13
|
64.80
|
35.69
|
|
35.73
|
Peñasquito
|
100.0%
|
361.18
|
35.06
|
407.16
|
|
163.57
|
26.32
|
138.40
|
|
524.75
|
32.34
|
545.56
|
|
576.67
|
Pueblo
Viejo
|
40.0%
|
40.45
|
18.68
|
24.29
|
|
16.77
|
14.07
|
7.58
|
|
57.21
|
17.33
|
31.87
|
|
36.10
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
45.46
|
Totals
|
|
520.94
|
26.83
|
449.32
|
|
676.96
|
8.87
|
193.14
|
|
1,197.90
|
16.68
|
642.47
|
|
693.96
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Copper
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Alumbrera
|
37.5%
|
15.11
|
0.24
|
79.13
|
|
1.43
|
0.17
|
5.29
|
|
16.54
|
0.23
|
84.42
|
|
83.09
|
Cerro
Casale
|
50.0%
|
114.85
|
0.19
|
480.87
|
|
483.95
|
0.23
|
2,408.87
|
|
598.80
|
0.22
|
2,889.73
|
|
-
|
El Morro
|
50.0%
|
160.91
|
0.55
|
1,938.29
|
|
138.62
|
0.43
|
1,313.18
|
|
299.53
|
0.49
|
3,251.48
|
|
3,251.48
|
Pueblo
Viejo
|
40.0%
|
40.45
|
0.09
|
83.25
|
|
16.77
|
0.10
|
36.83
|
|
57.21
|
0.10
|
120.08
|
|
130.40
|
Relincho
|
50.0%
|
217.65
|
0.38
|
1,807.95
|
|
401.91
|
0.37
|
3,279.24
|
|
619.57
|
0.37
|
5,087.19
|
|
5,087.19
|
Totals
|
|
548.97
|
0.36
|
4,389.49
|
|
1,042.68
|
0.31
|
7,043.41
|
|
1,591.65
|
0.33
|
11,432.90
|
|
8,552.16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lead
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Peñasquito
|
100.0%
|
352.66
|
0.35
|
2,697.06
|
|
162.36
|
0.24
|
862.95
|
|
515.03
|
0.31
|
3,560.00
|
|
3,683.84
|
Totals
|
|
352.66
|
0.35
|
2,697.06
|
|
162.36
|
0.24
|
862.95
|
|
515.03
|
0.31
|
3,560.00
|
|
3,683.84
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Zinc
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Peñasquito
|
100.0%
|
352.66
|
0.75
|
5,868.13
|
|
162.36
|
0.51
|
1,842.24
|
|
515.03
|
0.68
|
7,710.38
|
|
8,927.24
|
Totals
|
|
352.66
|
0.75
|
5,868.13
|
|
162.36
|
0.51
|
1,842.24
|
|
515.03
|
0.68
|
7,710.38
|
|
8,927.24
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Molybdenum
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Relincho
|
50.0%
|
217.65
|
0.016
|
77.01
|
|
401.91
|
0.018
|
161.88
|
|
619.57
|
0.017
|
238.90
|
|
238.90
|
Totals
|
|
217.65
|
0.016
|
77.01
|
|
401.91
|
0.018
|
161.88
|
|
619.57
|
0.017
|
238.90
|
|
238.90
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Totals may not
add up due to rounding
|
|
Note: "Other Assets"
refers to the assets removed from this year's estimate which were
either divested or announced to be divested between June 30, 2016
and June 30, 2017, which include Los Filo, Camino Rojo, Cerro
Blanco and San Nicolas. Marlin was also removed from this year's
estimate as it transitioned into closure as of June 1,
2017.
|
|
Goldcorp Mineral
Resources As of June 30, 2017
|
|
|
MEASURED
|
|
INDICATED
|
|
MEASURED &
INDICATED
|
|
As of
06-30-2016
|
|
Ownership
|
Tonnage
|
Grade
|
Contained
|
|
Tonnage
|
Grade
|
Contained
|
|
Tonnage
|
Grade
|
Contained
|
|
Contained
|
Gold
|
|
mt
|
g/t
|
m
oz
|
|
mt
|
g/t
|
m
oz
|
|
mt
|
g/t
|
m
oz
|
|
m
oz
|
Alumbrera
|
37.5%
|
14.89
|
0.28
|
0.14
|
|
1.05
|
0.21
|
0.01
|
|
15.94
|
0.28
|
0.14
|
|
0.78
|
Caspiche
|
50.0%
|
310.05
|
0.57
|
5.65
|
|
391.75
|
0.47
|
5.97
|
|
701.80
|
0.51
|
11.62
|
|
-
|
Cerro
Casale
|
50.0%
|
11.48
|
0.30
|
0.11
|
|
136.85
|
0.36
|
1.57
|
|
148.32
|
0.35
|
1.69
|
|
-
|
Cerro
Negro
|
100.0%
|
0.99
|
5.82
|
0.18
|
|
5.27
|
5.86
|
0.99
|
|
6.26
|
5.85
|
1.18
|
|
1.37
|
Coffee
|
100.0%
|
3.78
|
1.30
|
0.16
|
|
16.20
|
1.18
|
0.62
|
|
19.98
|
1.21
|
0.78
|
|
0.69
|
El Morro
|
50.0%
|
9.90
|
0.53
|
0.17
|
|
36.28
|
0.38
|
0.44
|
|
46.18
|
0.41
|
0.61
|
|
0.61
|
Éléonore
|
100.0%
|
3.67
|
7.65
|
0.90
|
|
3.48
|
3.87
|
0.43
|
|
7.16
|
5.81
|
1.34
|
|
0.93
|
Musselwhite
|
100.0%
|
0.29
|
5.55
|
0.05
|
|
1.73
|
4.68
|
0.26
|
|
2.02
|
4.81
|
0.31
|
|
0.46
|
Noche
Buena
|
100.0%
|
-
|
-
|
-
|
|
55.00
|
0.37
|
0.65
|
|
55.00
|
0.37
|
0.65
|
|
0.65
|
Peñasquito
|
100.0%
|
126.07
|
0.29
|
1.16
|
|
149.25
|
0.25
|
1.20
|
|
275.32
|
0.27
|
2.35
|
|
2.81
|
Porcupine
|
100.0%
|
28.70
|
1.30
|
1.20
|
|
226.11
|
0.99
|
7.19
|
|
254.81
|
1.02
|
8.39
|
|
9.08
|
Pueblo
Viejo
|
40.0%
|
6.79
|
2.33
|
0.51
|
|
63.64
|
2.33
|
4.76
|
|
70.43
|
2.33
|
5.27
|
|
5.15
|
Red Lake
|
100.0%
|
1.52
|
19.28
|
0.94
|
|
3.80
|
14.63
|
1.79
|
|
5.31
|
15.96
|
2.73
|
|
2.71
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
18.73
|
Totals
|
|
518.11
|
0.67
|
11.17
|
|
1,090.42
|
0.74
|
25.88
|
|
1,608.53
|
0.72
|
37.05
|
|
43.98
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Silver
|
|
mt
|
g/t
|
m
oz
|
|
mt
|
g/t
|
m
oz
|
|
mt
|
g/t
|
m
oz
|
|
m
oz
|
Caspiche
|
50.0%
|
310.05
|
1.20
|
11.98
|
|
391.75
|
1.20
|
15.15
|
|
701.80
|
1.20
|
27.12
|
|
-
|
Cerro
Casale
|
50.0%
|
11.48
|
1.19
|
0.44
|
|
136.85
|
1.06
|
4.66
|
|
148.32
|
1.07
|
5.10
|
|
-
|
Cerro
Negro
|
100.0%
|
0.99
|
59.15
|
1.88
|
|
5.27
|
43.01
|
7.29
|
|
6.26
|
45.55
|
9.17
|
|
11.48
|
Noche
Buena
|
100.0%
|
-
|
-
|
-
|
|
55.00
|
12.35
|
21.84
|
|
55.00
|
12.35
|
21.84
|
|
21.84
|
Peñasquito
|
100.0%
|
126.07
|
29.12
|
118.02
|
|
149.25
|
24.90
|
119.51
|
|
275.32
|
26.83
|
237.53
|
|
258.27
|
Pueblo
Viejo
|
40.0%
|
6.79
|
14.53
|
3.17
|
|
63.64
|
11.22
|
22.97
|
|
70.43
|
11.54
|
26.14
|
|
29.77
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
180.43
|
Totals
|
|
455.37
|
9.25
|
135.49
|
|
801.76
|
7.43
|
191.41
|
|
1,257.13
|
8.09
|
326.90
|
|
501.78
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Copper
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Alumbrera
|
37.5%
|
14.89
|
0.28
|
92.42
|
|
1.05
|
0.23
|
5.42
|
|
15.94
|
0.28
|
97.84
|
|
340.44
|
Caspiche
|
50.0%
|
277.10
|
0.23
|
1,405.07
|
|
363.95
|
0.18
|
1,444.27
|
|
641.05
|
0.20
|
2,849.34
|
|
-
|
Cerro
Casale
|
50.0%
|
11.48
|
0.13
|
33.40
|
|
136.85
|
0.16
|
495.87
|
|
148.32
|
0.16
|
529.27
|
|
-
|
El Morro
|
50.0%
|
9.90
|
0.51
|
111.67
|
|
36.28
|
0.39
|
315.00
|
|
46.18
|
0.42
|
426.67
|
|
426.67
|
Pueblo
Viejo
|
40.0%
|
6.79
|
0.09
|
13.43
|
|
63.64
|
0.09
|
119.77
|
|
70.43
|
0.09
|
133.20
|
|
118.93
|
Relincho
|
50.0%
|
39.95
|
0.27
|
240.43
|
|
158.54
|
0.34
|
1,180.79
|
|
198.50
|
0.32
|
1,421.22
|
|
1,421.22
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
526.53
|
Totals
|
|
360.10
|
0.24
|
1,896.42
|
|
760.31
|
0.21
|
3,561.12
|
|
1,120.41
|
0.22
|
5,457.54
|
|
2,833.80
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lead
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Peñasquito
|
100.0%
|
117.47
|
0.26
|
677.80
|
|
132.93
|
0.20
|
592.71
|
|
250.40
|
0.23
|
1,270.51
|
|
1,469.11
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
259.59
|
Totals
|
|
117.47
|
0.26
|
677.80
|
|
132.93
|
0.20
|
592.71
|
|
250.40
|
0.23
|
1,270.51
|
|
1,728.70
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Zinc
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Peñasquito
|
100.0%
|
117.47
|
0.57
|
1,469.52
|
|
132.93
|
0.47
|
1,388.60
|
|
250.40
|
0.52
|
2,858.13
|
|
3,600.29
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
-
|
-
|
-
|
|
1,589.19
|
Totals
|
|
117.47
|
0.57
|
1,469.52
|
|
132.93
|
0.47
|
1,388.60
|
|
250.40
|
0.52
|
2,858.13
|
|
5,189.48
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Molybdenum
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Relincho
|
50.0%
|
39.95
|
0.009
|
7.79
|
|
158.54
|
0.012
|
40.46
|
|
198.50
|
0.011
|
48.25
|
|
48.25
|
Totals
|
|
39.95
|
0.009
|
7.79
|
|
158.54
|
0.012
|
40.46
|
|
198.50
|
0.011
|
48.25
|
|
48.25
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goldcorp Mineral
Resources
As of June 30, 2017
|
|
|
|
|
INFERRED
|
|
As of
06-30-2016
|
|
Ownership
|
Tonnage
|
Grade
|
Contained
|
|
Contained
|
Gold
|
|
mt
|
g/t
|
m
oz
|
|
m
oz
|
Alumbrera
|
37.5%
|
1.50
|
0.26
|
0.01
|
|
0.24
|
Caspiche
|
50.0%
|
99.05
|
0.29
|
0.92
|
|
-
|
Cerro
Casale
|
50.0%
|
247.72
|
0.38
|
3.00
|
|
-
|
Cerro
Negro
|
100.0%
|
0.88
|
5.03
|
0.14
|
|
0.28
|
Coffee
|
100.0%
|
25.93
|
1.37
|
1.15
|
|
2.21
|
El Morro
|
50.0%
|
339.03
|
0.30
|
3.23
|
|
3.23
|
Éléonore
|
100.0%
|
8.45
|
7.31
|
1.99
|
|
2.35
|
Musselwhite
|
100.0%
|
6.46
|
5.65
|
1.17
|
|
1.20
|
Noche
Buena
|
100.0%
|
4.94
|
0.22
|
0.03
|
|
0.03
|
Peñasquito
|
100.0%
|
23.67
|
0.29
|
0.22
|
|
0.27
|
Porcupine
|
100.0%
|
111.95
|
1.02
|
3.69
|
|
2.78
|
Pueblo
Viejo
|
40.0%
|
1.90
|
2.05
|
0.12
|
|
0.10
|
Red Lake
|
100.0%
|
8.53
|
15.86
|
4.35
|
|
4.76
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
5.09
|
Totals
|
|
880.01
|
0.71
|
20.02
|
|
22.54
|
|
|
|
|
|
|
|
Silver
|
|
mt
|
g/t
|
m
oz
|
|
m
oz
|
Caspiche
|
50.0%
|
99.05
|
0.91
|
2.91
|
|
-
|
Cerro
Casale
|
50.0%
|
247.72
|
1.04
|
8.25
|
|
-
|
Cerro
Negro
|
100.0%
|
0.88
|
29.98
|
0.85
|
|
2.19
|
Noche
Buena
|
100.0%
|
4.94
|
8.08
|
1.28
|
|
1.28
|
Peñasquito
|
100.0%
|
23.67
|
18.73
|
14.25
|
|
17.58
|
Pueblo
Viejo
|
40.0%
|
1.90
|
9.76
|
0.60
|
|
0.70
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
55.48
|
Totals
|
|
378.15
|
2.31
|
28.14
|
|
77.23
|
|
|
|
|
|
|
|
Copper
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Alumbrera
|
37.5%
|
1.50
|
0.15
|
5.04
|
|
70.19
|
Caspiche
|
50.0%
|
97.80
|
0.12
|
258.73
|
|
-
|
Cerro
Casale
|
50.0%
|
247.72
|
0.19
|
1,046.80
|
|
-
|
El Morro
|
50.0%
|
339.03
|
0.35
|
2,595.00
|
|
2,595.00
|
Pueblo
Viejo
|
40.0%
|
1.90
|
0.02
|
0.91
|
|
1.43
|
Relincho
|
50.0%
|
305.41
|
0.38
|
2,549.68
|
|
2,549.68
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
62.25
|
Totals
|
|
993.36
|
0.29
|
6,456.16
|
|
5,278.54
|
|
|
|
|
|
|
|
Lead
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Peñasquito
|
100.0%
|
23.53
|
0.16
|
85.21
|
|
127.63
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
15.40
|
Totals
|
|
23.53
|
0.16
|
85.21
|
|
143.03
|
|
|
|
|
|
|
|
Zinc
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Peñasquito
|
100.0%
|
23.53
|
0.59
|
306.74
|
|
193.00
|
Other
Assets
|
-
|
-
|
-
|
-
|
|
101.63
|
Totals
|
|
23.53
|
0.59
|
306.74
|
|
294.64
|
|
|
|
|
|
|
|
Molybdenum
|
|
mt
|
%
|
m
lbs
|
|
m
lbs
|
Relincho
|
50.0%
|
305.41
|
0.013
|
88.20
|
|
88.20
|
Totals
|
|
305.41
|
0.013
|
88.20
|
|
88.20
|
|
|
|
|
|
|
|
Goldcorp June 30,
2017 Reserve and Resource Reporting Notes:
|
|
1
|
|
All Mineral Reserves
and Mineral Resources have been estimated in accordance with the
CIM Definition Standards, and in the case of the Alumbrera mine,
the Ore Reserves have been estimated in accordance with the JORC
Code. The JORC Code has been accepted for current disclosure
rules in Canada under NI 43-101 (see below for definition).
Except for properties or projects listed in note 4 below, all
Mineral Reserves, Ore Reserves and Mineral Resources set out in the
tables above or elsewhere in this press release have been reviewed
and approved by Dan Redmond, Director, Reserves & Mine
Planning, Goldcorp, who is a qualified person as defined under NI
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, 2017, with the
following conditions or exceptions:
|
|
|
|
|
|
|
(i)
|
Mineral Reserves and
Mineral Resources for Pueblo Viejo are as per public information
provided by Barrick Gold Corporation in its 2016-year end report
and fourth quarter results report dated February 15th,
2017 with an effective date of December 31, 2016 and were estimated
under the supervision of Rick Sims, Senior Director, Resources and
Reserves, of Barrick, Steven Haggarty, Senior Director, Metallurgy,
of Barrick and Patrick Garretson, Senior Director, Life of Mine
Planning, of Barrick. For additional information, see the technical
report entitled "Technical Report on the Pueblo Viejo Project,
Sanchez Ramirez province, Dominican Republic" dated March 27, 2014,
which is available under the Company's profile on SEDAR at
www.sedar.com.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(ii)
|
Mineral Reserves and
Mineral Resources for the Cerro Casale Project are as per public
information provided by Barrick Gold Corporation in its 2016-year
end report and fourth quarter results report dated
Febuary15th, 2017 but have been adjusted to reflect
Goldcorp's 50% ownership in a new joint venture announced in a
Goldcorp press release dated June 9th, 2017, have an
effective date of December 31, 2016 and were estimated under the
supervision of Rick Sims, Senior Director, Resources and Reserves,
of Barrick, Steven Haggarty, Senior Director, Metallurgy, of
Barrick and Patrick Garretson, Senior Director, Life of Mine
Planning, of Barrick.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(iii)
|
Mineral Resources for
the Caspiche Project are as per public information provided by
Exeter Resource Corporation in its 2016 Annual Information Form
dated March 24th, 2017 but have been adjusted to reflect
Goldcorp's 50% ownership in a new joint venture announced in a
Goldcorp press release dated June 9th, 2017. The Mineral
Resource Estimate for the Caspiche Project with an effective date
of April 11, 2012 was prepared by Mr. Ted Coupland, MAusIMM(CP), at
the time, Director and Principal Geostatistician of Cube Consulting
Pty Ltd.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(iv)
|
Mineral Reserves and
Mineral Resources for Relincho are as per public information
provided by Teck Resources Limited in its 2016 Annual Information
Form dated February 23, 2017 with an effective date of December 31,
2016 and have been prepared under the general supervision of
Rodrigo Marinho, P.Geo., who is an employee of Teck Resources
Limited.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(v)
|
Mineral Reserves and
Mineral Resources for Alumbrera are as per public information
provided by Glencore plc in its 2016 year end Resources and
Reserves Report with an effective date of December 31, 2016 and
have been prepared under the supervision of Flavio Montini who is
an employee of Glencore plc.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(vi)
|
Mineral Reserves for
Coffee are as per information provided by Kaminak Gold Corporation
effective the transaction date of July 19, 2016.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(vii)
|
For additional
information on the 2016 mineral reserves and mineral resources
(MRMR), refer to the MRMR tables that can be found at
www.goldcorp.com.
|
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 $1.05 per pound of
zinc, unless otherwise noted below:
|
|
|
|
|
|
(i)
|
Pueblo Viejo and
Cerro Casale
|
Gold - US$1,000/oz.
to 2020, and a long-term price of US$1,200/oz. from 2021
onwards
Silver - US$13.75/oz.
to 2020 and a long-term price of US$16.50/oz. from 2021
onwards
Copper - US$2.25/lb.
to 2020 and a long-term price of US$2.75/lb. from 2021
onwards
|
|
|
(ii)
|
Alumbrera
|
Gold - US$1,300/oz;
Copper - US$2.31/lb
|
|
|
(iii)
|
Relincho
|
Copper - US$2.80/lb;
Molybdenum – US$13.70/lb
|
|
|
|
|
|
6
|
|
Mineral Resources are
estimated using US$ 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 $1.10 per pound of zinc, unless otherwise noted
below:
|
|
|
|
|
|
(i)
|
Pueblo Viejo and
Cerro Cale
|
Gold - US$1,500/oz;
Silver - US$16.50/oz; Copper - US$2.75/lb
|
|
|
(ii)
|
Caspiche
|
Gold - US$1,250/oz;
Silver - US$15.00/oz; Copper - US$2.75/lb
|
|
|
(iii)
|
El Morro
|
Gold - US$1,200/oz;
Copper - US$2.75/lb
|
|
|
(iv)
|
Alumbrera
|
Gold - US$1,300/oz;
Copper - US$3.06/lb
|
|
|
(v)
|
Relincho
|
Copper - US$2.80/lb;
Molybdenum – US$13.70/lb
|
|
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.
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 Dan
Redmond, P.Geo., Director, Reserves & 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, P.Geo.,
Director, Generative Geology for Goldcorp, and a "qualified person"
as defined by NI 43-101. All Mineral Reserves and Mineral
Resources have been estimated 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. Additional information 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, 2016 and the following
technical reports for each of those properties, all of which are
available under the Company's profile at www.sedar.com:
- Technical report entitled "Red Lake Operations, Ontario Canada, NI 43-101 Technical Report"
dated effective December 31,
2015.
- Technical report entitled "Cerro Negro Operations, Santa Cruz Province, Argentina, NI 43-101 Technical Report" dated
effective December 31, 2015.
- Technical report entitled "Peñasquito Polymetallic Operations,
Zacatecas State, Mexico, NI 43-101
Technical Report" dated effective December
31, 2015.
- Technical report entitled "Éléonore Operations, Quebec, Canada, NI 43-101 Technical Report"
dated effective December 31,
2015.
Cautionary Note to United
States investors concerning estimates of measured, indicated
and inferred resources: The Mineral Reserve and Mineral
Resource estimates contained in this press release have been
prepared in accordance with the requirements of the Canadian
securities laws, which differ from the requirements of United States securities laws and use 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 different
approaches and definitions. For example, the terms "Mineral
Reserve", "Proven Mineral Reserve" and "Probable Mineral Reserve"
are Canadian mining terms as defined 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 or cash flow analysis to
designate 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 a
"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
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, or in releases made by the SEC, 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 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 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 carries on business, 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; risks related to the integration of acquisitions; 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, and risks related to
indebtedness and the service of such indebtedness, as well as those
factors discussed in the section entitled "Risks and Uncertainties"
in Goldcorp's most recent Management's Discussion and Analysis, and
"Description of the Business – Risk Factors" in Goldcorp's most
recent annual information form, both of which are 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.
SOURCE Goldcorp Inc.