Goldcorp receives Red Lake mine drill results
Goldcorp receives Red Lake mine drill results
Goldcorp Inc G
Shares issued 82,094,264 Dec 19 close $18.90
Thu 20 Dec 2001 News Release
Mr. Chris Bradbrook reports
DEEPEST INTERSECTION YET FROM HIGH GRADE ZONE 5.41 ounces per ton AU ACR
...
Goldcorp has provided the results of a significant new drill hole at the
Red Lake mine, which intersected 5.41 ounces of gold per ton (185.5 grams
per tonne (gpt)) over a length of 8.0 feet (2.4 metres). This intersection
was at a vertical depth of 6,763 feet (2,061 m) and is the deepest
intersection yet into the High Grade zone (HGZ). It is 130 feet (39.6 m)
vertically below the previous deepest intersection.
Average grade below resources -- 8.19 ounces per ton (280.8 gpt) across
10.3 feet (3.1 m)
Hole 34L860GW was drilled to test for the potential depth extension of the
HW5 zone, which is the highest grade zone within the HGZ and accounts for
25 per cent of the high-grade reserves. It intersected high-grade
mineralization with an average of 5.41 ounces per ton (185.5 gpt) across
8.0 feet (2.4 m). The HW5 zone has now been confirmed to a depth of 6,763
feet (2,061 m). Four diamond drill holes have intersected the zone below
the current limit of resources (6,300 feet or 1,920 m). The average grade
of these four intersections is 8.19 ounces per ton (280.8 gpt) across 10.3
feet (3.1 m).
Current HGZ ore reserves have a vertical extent of approximately 1,300 feet
(396 m) to a depth of 5,800 feet (1,768 m). The company's immediate goal
continues to be to test for the potential to double the vertical extent of
this mineralization to depth of approximately 7,000 feet (2,134 m). With
the HW5 identified to a vertical depth of 6,763 feet (2,061 m) the company
is now more than 80 per cent toward its goal. This is a very promising way
to end the year.
Qualified person
These exploration results have been prepared under the guidance of Gilles
Filion, PEng (OIQ), vice-president of exploration, who is designated as a
qualified person with the ability and authority to verify the authenticity
and validity of these data.
All samples were analyzed by SGS XRAL Laboratories of Red Lake, Ont. Drill
hole results given in this press release are uncut assay values.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.