GREY:MPRXF - Post by User
Post by
mpsl45on Feb 19, 2012 1:15pm
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Post# 19555760
Goldcorp and the HGZ
Goldcorp and the HGZ Important notes from from G's 2011 year end press release:
"Red Lake 2011 proven and probable gold reserves totaled 4.0 million ounces. Drilling of the High Grade Zone has identified the possibility of a fault offset of the zone below the 52 level, approximately 300 metres and 5 years ahead of the current mining horizon. Deep underground drilling conducted several years ago identified high grade ore intercepts at both the 55 and 57 levels that suggest the continuity of the zone. Drilling efforts are currently investigating the extensions of these intercepts. During 2012, plans are underway to extend the ramp and increase power and ventilation to allow additional exploration drilling in the deepest portions of the mine."
Goldcorp is the only buyer of the MGP/KBG Headway claims and it looks like they can wait a few years no matter what the Hole #3 outcome?