A plan view of the Goldcorp’s Coffee project in the Yukon. (Credit: Goldcorp)
VANCOUVER – Goldcorp recently took a close look at its project pipeline that forms the basis of the company’s five-year 20/20/20 plan. This plan will see gold production and reserves rise by 20%, while all-in sustaining costs will fall by 20%.
Following are the highlights of the pipeline projects:
Continued exploration success at the Coffee project in the Yukon demonstrates large scale geological potential and possible production profile increases. Step out drilling has expanded the oxide resource into the new AmeriKona zone. Recent results include 22.9 metres at 1.93 g/t gold from a depth of 41.2 metres. Drilling into new sulphide areas returned an intercept of 30.5 metres at 7.24 g/t gold from a depth of 38.1 metres.
In Ontario, the Century base case prefeasibility study is nearing completion with an Initial gold reserve number expected soon. The PFS, to be completed in October 2017, has been based on over 4.5 million oz. of current Indicated resources, mainly from the Dome Century pit. Together with the Borden all electric underground project, currently under development, significant increases in gold production from the Porcupine District are expected. Borden is on track for commercial production in 2019.
The pyrite leach project at Peñasquito is ahead of schedule and under budget in Mexico. The project has achieved 40% completion of the $420 million investment, which is expected to be commissioned three months ahead of schedule by the Q4 2018.
Exploration at Cerro Negro in Argentina is continuing and a new expansion study begun. The high grade silica cap discovery includes drill intercept of 19.66 metres at 28.59 g/t gold and 115.75 g/t silver. Goldcorp has commenced a concept study of a low capital cost, 10% to 20% expansion to the nameplate capacity of the 4,000-t/d plant.
The NuevaUnión joint venture (with Teck Resources) in Chile is advancing towards the feasibility stage as the PFS nears completion. The prefeasibility study is expected to be completed early in the first quarter of 2018, at which point Goldcorp expects to enter the feasibility and permitting phase. The NuevaUnion JV was created when Teck’s Relincho and Goldcorp’s El Morro projects were combined.
The project team is assembled and exploration begun at the Cerro Casale/Caspiche joint venture (with Barrick Gold) in Chile. A prefeasibility study on consolidation of the large scale Caspiche and Cerro Casale deposits into one operating district is underway. An aggressive district scale exploration program has been started on the 20,000-hectare property.
Specifics of individual projects are available in the Sept. 25, 2017, news release posted at www.Goldcorp.com.