Canadian Mining Journal

News

GOLD: Goldcorp completes acquisition of Kaminak



VANCOUVER – Goldcorp has completed the acquisition of junior Kaminak Gold Corp. With the control of all of the issued and outstanding common shares of Kaminak, Goldcorp becomes owner of the high grade Coffee advanced exploration project 130 km south of Dawson City, YK.

Kaminak has already identified eight gold trends (Supremo, Latte, Latte West, Kona, Connector, Double Double, Americano, and Espresso) at the Coffee property. The feasibility study of January 2016 points toward a 10-year open pit and heap leach project. Probable reserves are 46.4 million tonnes grading 1.45 g/t Au or 2.157 million contained oz. The project will produce 1.86 million oz of gold, assuming a gold recovery of 86.3%. The preproduction capital cost is expected to be $317.4 million, and the sustaining capital for the life of the project will reach $160.6 million.

Read the detailed feasibility study at http://Kaminak.com/_resources/reports/-43101_Feasibility_Report2016.pdf.