VANCOUVER, Oct. 25, 2017 /CNW/ – 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.
- 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.”