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Exploration is core to value creation at Goldcorp.

As of June 30, 2017
2018 Exploration Budget
Proven and Probable Gold Reserves
Measured and Indicated Gold Resources
Inferred Gold Resources

Exploration features in our plan to grow our reserves by 20% by 2021.

We have a disciplined two-part strategy:

  • replace the reserves we mine every year by converting resources to reserves and extending known mineralization at our existing mine sites
  • add to our reserves overall by generating a constant supply of district-level targets that we rank and prioritize using the resource triangle.

We use a resource triangle to rank and prioritize the pipeline of exploration targets based on rigorous geological and stringent economic filters.

Reserves diagram

As work progresses on each target, it either moves up the triangle or it moves out.

The success of this tool depends on having a constant supply of targets to evaluate. These come from two sources:

  • generative work in our existing mine districts
  • small investments in junior companies that are in the right geological jurisdictions and have the technical teams capable of making discoveries that meet our criteria.

We do not pursue greenfield exploration in new districts.

2018 Priorities 

Cerro Negro: targeting 1Moz resource at Silica Cap and define three new advanced targets

Norte Abierto: develop robust geological model for two main deposits and drill test satellite 

Coffee: continue to define additional oxide resource potential 

Red Lake: complete digital capture and analysis of historical data to prioritize the next high grade discovery

Éléonore: drill test surface targets 

SVP Exploration on Goldcorp's 20% Growth in Reserves by 2021

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