Virginia Mines Inc VGMNF

Goldcorp Eleonore update

[greenandgold]

As of 12/31/10, there are 3.03 million ounces proved or probable, 0.48 million ounces measured or indicated, and 4.17 million ounces inferred. (7.7 million ounces in total.)

So it's a mixed bag of results. I'm pleased that there's now 3 million ounces in the proven category but the ounces in inferred have decreased since 2009 results: 3.15 million ounces indicated, 6.25 million ounces inferred. (9.4 million ounces total.)

So we're now more certain a bank-able 3 million ounces exists, but the overall size of what the Eleonore deposit  is questionable. Goldcorp's pre-feasibility study for Eleonore is coming at the end of February. They plan an underground exploration shaft by 2012. Looks like Goldcorp is moving very fast towards production.