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|
GOLDCORP INC. |
|
|
Date: October 25, 2017 |
|
/s/ Anna M. Tudela |
|
Name: Anna M. Tudela |
|
Title: Vice-President, Regulatory Affairs
and
Corporate Secretary
|
Exhibit
Index
Exhibit |
|
Description
of Exhibit |
99.1 |
|
Press Release dated October 25, 2017 - Goldcorp reports 2017 reserve and resource estimates
and provides exploration update |
Exhibit 99.1
Goldcorp reports 2017 reserve and resource estimates
and provides exploration update
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.
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:
| 1. | 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; |
| 2. | 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 |
| 3. | 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 |
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88.20 |
Totals |
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305.41 |
0.013 |
88.20 |
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88.20 |
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Goldcorp June 30, 2017 Reserve and Resource Reporting Notes: |
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1 |
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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. |
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2 |
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All Mineral Resources are reported exclusive of those Mineral Resources that were converted to Mineral Reserves. |
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3 |
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Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. |
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4 |
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Mineral Reserves and Mineral Resources are reported effective June 30, 2017, with the following conditions or exceptions: |
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(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. |
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(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. |
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(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. |
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(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. |
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(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. |
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(vi) |
Mineral Reserves for Coffee are as per information provided by Kaminak Gold Corporation effective the transaction date of July 19, 2016. |
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(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 |
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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: |
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(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 |
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(ii) |
Alumbrera |
Gold - US$1,300/oz; Copper - US$2.31/lb |
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(iii) |
Relincho |
Copper - US$2.80/lb; Molybdenum – US$13.70/lb |
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6 |
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Mineral Resources are estimated using US$ 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: |
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(i) |
Pueblo Viejo and Cerro Cale |
Gold - US$1,500/oz; Silver - US$16.50/oz; Copper - US$2.75/lb |
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(ii) |
Caspiche |
Gold - US$1,250/oz; Silver - US$15.00/oz; Copper - US$2.75/lb |
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(iii) |
El Morro |
Gold - US$1,200/oz; Copper - US$2.75/lb |
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(iv) |
Alumbrera |
Gold - US$1,300/oz; Copper - US$3.06/lb |
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(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:
| 1. | Technical report entitled "Red Lake Operations,
Ontario Canada, NI 43-101 Technical Report" dated effective December 31, 2015. |
| 2. | Technical report entitled "Cerro Negro Operations,
Santa Cruz Province, Argentina, NI 43-101 Technical Report" dated effective December 31, 2015. |
| 3. | Technical report entitled "Peñasquito
Polymetallic Operations, Zacatecas State, Mexico, NI 43-101 Technical Report" dated effective December 31, 2015. |
| 4. | 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.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/October2017/25/c3572.html
%CIK: 0000919239
For further information: INVESTOR CONTACT: Etienne Morin,
Director, Investor Relations, Telephone: (800) 567-6223, E-mail: info@goldcorp.com; MEDIA CONTACT: Christine Marks, Director, Corporate
Communications, Telephone: (604) 696-3050, E-mail: media@goldcorp.com
CO: Goldcorp Inc.
CNW 17:53e 25-OCT-17
This regulatory filing also includes additional resources:
ex991.pdf
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