Hot on the heals of its latest reserve update,
Reserves were recently upped by 25% to 1.7 million tonnes grading 69.3 grams gold per tonne, and resources were increased to 430,000 tonnes grading 92.6 grams gold. Another revision is likely in the near future, as recent drilling shows that the High Grade zone (a collection of individual sulphide-free zones) continues for at least 93 metres vertically and horizontally.
One deep hole intersected 4.39 metres (starting at 542 metres down-hole) grading an uncut 166.97 grams, whereas another hole cut 0.85 metre (starting at 611 metres) grading 35.31 grams. Both extend the HW5 zone, which accounts for one-quarter of the High Grade reserves, to 640 metres in the vertical dimension.
Also, several holes drilled in less-defined areas of HW5 zone confirm its continuity and high-grade nature. Hole 34L980 returned 335 grams over 2.47 metres (starting at 294 metres), whereas hole 34L987 returned 151.6 grams over 2.23 metres (starting at 395 metres).
Several stepout holes collared along strike to the east suggest that the FW4 zone continues in that direction as both quartz-carbonate and sulphide-bearing lenses. Gold values from four intersections varied from 3.43 to 151.89 grams over 0.37 to 1.37 metres.
The FW4 zone had been viewed as a series of isolated lenses sitting on the eastern margin of the High Grade zone. The recent intersections suggest it is more likely to be a continuous zone of mineralization.
Meanwhile, exploration drilling identified two new areas of mineralization east and west of the mine site. The western target, about 366 metres away, revealed quartz-carbonate mineralization carrying more than 117 grams gold over as much as 1.52 metres.
Drilling from an exploration drift off the 34 level is continuing. The drift has been extended to 244 metres in order to pass through the target.
Far East zone
The Far East zone, about 700 metres east of the operation, lies beyond an ultramafic unit that was considered the eastern limit to mineralization. Hole 34L855 returned 73.8 grams over 0.27 metre (starting at 539 metres down-hole) of the latter-type of mineralization, as well as two low-grade intervals of quartz-carbonate mineralization farther up in the section.
Goldcorp notes that a few holes were sunk in past campaigns but that these efforts were limited by a lack of access. Accordingly, the company has extended the 16 Level drift 260 metres to the east and is doing the same on the 34 Level.
Mineralization has been intersected between 457 and 2,103 metres below surface, with a best result of 44 grams over 1.89 metres, comparable to grades reported in the mine area.
Drilling continues from the 16 Level.
Goldcorp has six drill rigs turning underground and a seventh stationed on the surface for infill, stepout and exploratory purposes. So far this year, 133 holes totalling 10,560 metres have been drilled into the known reserves, enabling the company to place 66% of the orebody in the proven category, versus 39% at the year’s start.
Another four exploration rigs are stationed at the Cochenour-East Bay property, about 8 km to the east. That property hosts the historic Cochenour mine, which has produced more than 1 million ounces and has returned 777 grams over 3.8 metres, 332 grams over 7.25 metres, and 9.42 grams over 3.26 metres.
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