BALMERTOWN, Ontario "Encouraging exploration results" barely hints at the gold mineralization intersected by deep drilling in GOLDCORP's Red Lake mine. Holes in the Hanging Wall zones beneath the current reserves intersected up to 39.98 oz of gold per ton (opt) over 33.5-ft (an astounding 111.1 g/t over 10.21 m).
Other areas of multi-ounce gold mineralization were encountered in holes below the planned 7,150-ft bottom of the new shaft. The deepest holes in the high grade zone returned 2.11 opt Au over 48 ft. Multiple high grade zones were also encountered below current reserves. The best values were found within a 134-ft interval that included four intersections of the High Grade zone. This zone was also extended 260-ft east of its previously identified limit. Moreover, the Sulphide zone was drilled at a depth of 7,300 ft, 3,000 ft deeper than where it was last mined.
A new shaft has been collared at the Red Lake mine. It should be complete before the end of 2006 and allow expansion of the production rate to 700,000 oz annually. If you want to know more about Canada's richest gold mine, fill out the Request Information form at www.goldcorp.com.