Goldcorp issues exploration update

Thursday, July 26, 2018


(This is an abridged version of the release. For the full version click here)

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VANCOUVER, July 25, 2018 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) ("Goldcorp" or the "Company") is pleased to provide an update on its 2018 exploration program. Representative drill results are provided in the appendices below; website links to further information, including full drill results, drill coordinates, quality assurance and quality control information and relevant diagrams, are provided at the end of each section.


  • Musselwhite continues to return positive drill results that exceed expectations in all key metrics including width, height and grade. Drilling results expected to support mineral reserve growth in 2018 and significant new land holdings were staked over the host greenstone belt. Recent drill hole results from PQ Deeps include 13.5 m at 17.41 g/t gold (18-PQE-025) and 9.5 m at 19.66 g/t gold (18-PQE-026), with mineralization remaining open down plunge.
  • Surface and underground drilling at HG Young (Red Lake Camp) continues to support geologic model and advances project towards concept study. Mineralized intercepts include 1.83 m at 76.67 g/t gold (D142080). At Cochenour, diamond drill results continued to return broad zones of economic mineralization including 17.40 m at 12.14 g/t gold (C37039) from the Upper Main Zone and confirmed mineralization is open up and down plunge.
  • Infill drilling at Silica Cap (Cerro Negro Camp) required for mineral resource estimations and has extended the known high-grade mineralization in the 600 vein by a further 300 m of strike. Drill results include 15.67 m at 14.62 g/t gold (SCDD-18135). Preliminary metallurgical testwork returned an average gold recovery of 93%. Drill rigs are now focused on the discovery of the next economic vein, testing targets at the base of the resource triangle.
  • Goldcorp finalizes joint venture with Minera Frisco, S.A.B de C.V. at Peñasquito to jointly explore key regional targets in the Mazapil Valley. By the end of the second quarter of 2018, drilling commenced on the first target, Santa Cruz, under the terms of this agreement. Santa Rosa continued to return broad intersections of low grade mineralization including 254 m at 0.34 g/t gold (SRD-25-18).
  • Norte Abierto gold assay results from the first holes drilled at the Casale deposit confirm the geologic and current mineral resource model and returned intersections of pophyry style mineralization including 136 m at 1.31 g/t gold (CCDDH-002A) as well as higher grade intercepts associated with magmatic breccias: 10.00 m at 18.28 g/t (CCRC-002).

Goldcorp made significant progress in the second quarter on its brownfields exploration work, where strong results, in particular at Musselwhite and Cerro Negro, continued to highlight the potential to add to our mineral reserve base in order to achieve our goal for mineral reserve growth included in our 20/20/20 plan. An aggressive field program is under way across all our Canadian sites to work up early stage targets for potential drill campaigns during the winter season. In LATAM, the focus is on new discoveries at Cerro Negro and data collation and interpretation at the Norte Abierto joint venture.

The key exploration highlights from select operations are presented below.

Musselwhite Camp

At Musselwhite (100% owned, Canada), the Company continued exploring near-mine targets to grow mineral resources and mineral reserves and initiated generative exploration programs on an expanded landholding throughout the North Caribou greenstone belt.

During the second quarter of 2018, underground mine exploration completed mineral resource conversion drilling in the C Block portion of PQ Deeps, West Limb and the Lynx North area, with five drills testing mineral reserve and resource extensions from underground infrastructure. All mine target zones over-performed in terms of grade and size as a result of infill and expansion drilling. The C Block of PQ Deeps, in particular, continued to return results that exceeded expectations in all key metrics, including increased width, height and grade (see Figure 1). A selection of drill intercepts are summarized in Table 1 of the appendix, with comprehensive assays provided at the link below. Additional underground access development continues to move forward with development spiralling down to meet the plunge elevation for the 2019 exploration drill platforms. Initial 50 m step out drilling is expected to be completed by the end of the third quarter of 2018, with additional 150 m step out drilling completed by the end of first quarter of 2019.

Upon completion of the mineral reserve and resource conversion drill campaign, the drill rigs moved to test several new exploration targets within the mine infrastructure. Highlights include a 300 m down-plunge stepout drill program on the Redwing area, which lies within the Southern Iron Formation (SIF). Drilling intersected prospective visual alteration and mineralization within the targeted Howe, Yzerman and Lindsey zones; assays are pending with the exception of one drill hole returned to date from Howe (Table 1). This stepout drilling expands the known mineralization of the various Redwing lodes to approximately 900 m in length, and additional drilling is planned to connect it to the Thunderwolves zone, which lies an additional 1.7 km down-plunge.