The Musselwhite mine is an underground gold mine that produces approximately a quarter-million ounces of gold annually. The mine is situated in northwestern Ontario, Canada on the southern shore of Opapimiskan Lake.
 The mine commenced production in 1997. Goldcorp originally acquired its 68.1% interest in the Musselwhite mine in May 2006 from Placer Dome. On December 21, 2007, we acquired the remaining interest in the mine.
Fourth quarter production increased 33% as a result of more ore being mined from the PQ Deeps zone, which has exhibited higher gold grades than the life-of-mine average. This area will continue to be a primary focus of mining in the years ahead, with higher grades leading to higher gold production and lower costs.
Definition drilling has extended both the PQ Deeps and Thunderwolves zones north by an additional 50 metres. Several compelling exploration targets, including the Moose, Thunderwolves and Jets zones will be tested further in 2009, with the Moose zone closest to inclusion in future mine plans.
With existing mineral reserves, Musselwhite has an expected mine life through 2016. However, with current exploration success and excellent exploration potential elsewhere at the mine, there are good opportunities to extend the mine life.
|
