Goldcorp to close Dome, advance Borden Lake South

Drillers work at the Borden Lake South property.

“When one door closes, another opens” is exactly what Goldcorp believes after announcing that it will close its century – old Dome Mine near Timmins later this year, but will continue to move forward with its Borden Lake South property near Chapleau, Ontario.

The new gold property, located about 160km west of the Dome Mine, is considered by many as one of Canada’s more promising new discoveries with an indicated resource of 9.3 million tonnes at 5.39 g/t Au and an inferred resources of 3.0 million tonnes grading 4.27 g/t Au .

Respectively, the resources contain 1.6 million oz and 400,000 oz of gold.

The property is comprised of 70km of contiguous claims with deposits remaining open along strike and at depth.

The Borden Gold Project is a high-quality deposit that is mineable through conventional underground mining methods.

And, because of its close proximity to Goldcorp’s Timmins operations, that includes a large milling facility at the Dome site, transporting ore from Borden Lake South should help reduce capital costs and permitting requirements compared to a standalone development in Chapleau.