Goldcorp Reports Updated Reserves and Resources; Provides Overview of Renewed Exploration Strategy and Results

http://www.goldcorp.com/English/Investor-Resources/News/News-Details/2016/Goldcorp-Reports-Updated-Reserves-and-Resources-Provides-Overview-of-Renewed-Exploration-Strategy-and-Results/default.aspx

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.

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