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Red Lake

A historic mining district, Red Lake has the potential to grow our production and increase our reserves well beyond 2021.

As of December 31, 2016
Contribution to
Total Production
Contribution to
Total Revenue
Gold Produced in 2016
(ounces)
324,000
All-in Sustaining Cost
(per ounce)
$872

All-in sustaining costs (“AISC”) include total production cash costs incurred at Goldcorp’s (the “Company”) mining operations, which forms the basis of the Company’s by-product cash costs. Additionally, the Company includes sustaining capital expenditures, corporate administrative expense, exploration and evaluation costs, and reclamation cost accretion and amortization. The measure seeks to reflect the full cost of gold production from current operations, therefore growth capital is excluded. Certain other cash expenditures, including tax payments, dividends and financing costs are also excluded.

AISC is a non-GAAP performance measures that the Company believes more fully defines the total costs associated with producing gold; however, this performance measure has no standardized meaning. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The Company reports this measure on a gold ounces sold basis. The Company’s all-in sustaining cost definition conforms to the guidance note released by the World Gold Council, which became effective January 1, 2014. The World Gold Council is a non-regulatory market development organization for the gold industry whose members comprise global senior gold mining companies.

Quick Facts
Location Red Lake, Ontario
Ownership 100%
Type of Mine Underground
Processing Method Conventional crushing and grinding, cyanide certified
Milling/Processing Capacity 3,100 tonnes per day
Power Demand 25 megawatts
Number of Employees & Contractors 1050
Production (guidance for 2017) 300,000 ounces
AISC (guidance for 2017) $870 per ounce
Gold Reserves (proven and probable) 2.03 million ounces
Gold Resources (measured and indicated) 2.42 million ounces
Gold Resources (inferred) 2.62 million ounces

The Red Lake district is located 180 kilometres north of Dryden about 100 kilometres from the Manitoba border in northwestern Ontario. It spans 42,000 hectares and has produced over 29 million ounces of gold since 1949.

Red Lake Gold Mines includes the Red Lake and Campbell underground mining and processing complexes, and Cochenour, a potential new source of ore.

Ore from Red Lake Gold Mines is hoisted up either the Balmer or Campbell shafts, then processed at the Campbell mill using a conventional crushing and grinding circuit combined with a gravity concentration for free-milling gold or carbon-in-pulp for refractory gold. Gold recoveries average 96%.

Exploration

The Red Lake greenstone belt is located in the western portion of the Uchi Subprovince of the Canadian Shield. Mineralization within Red Lake Gold Mines operations is typical of Archean greenstone belt-hosted gold deposits, and most of the ore comes from mafic-volcanic hosted vein systems.

Red Lake’s most advanced exploration target is HG Young, located about 1.5 kilometres northwest of the Red Lake complex. Still in the concept phase, the focus at HG Young is on building a geological model that will lay the foundation for a pre-feasibility study.

View updated exploration results for HG Young

Red Lake’s exploration program has the following goals:

  • near mine reserve replacement
  • revisioning the entire Red Lake Mine deposit to understand upside potential
  • continuing exploration drilling at both Cochenour and HG Young
  • collating all the historical data for the Red Lake Belt and completing a generative study to develop a portfolio of targets.

Read more about our exploration program

Communities

2
First Nations assert treaty rights in the Red Lake district

Our formal Collaboration Agreements with the Wabauskang and Lac Seul First Nations provides a framework for working together and supports educational, health and cultural programing. Red Lake also contributes to the local economy through local hiring and procurement initiatives, capacity building, community donations and investment in local infrastructure. We provided financial support for the Municipality of Red Lake’s Community Improvement Plan for revitalizing, beautifying and promoting economic development in the region. We also operate a recreational facility, sponsor youth programs and events and helped develop the Red Lake Medical Clinic.

Read about how we manage our stakeholder relationships

People

103
First Nations employees

In 2005, Goldcorp worked with First Nations in Northern Ontario to open the Stope School to train people in the stope method of underground mining. Successful graduates receive an Ontario Common Core Certificate that allows them to work underground. We’ve hired many graduates of the program, including three First Nations and five female participants from the 2017 cohort, who joined the underground team on a full-time basis.

Read about how we’re working to increase diversity at our operations

Safety & Health

97
members of the workforce are members of the mine rescue, response or advance first aid teams

Red Lake’s Hunting for Health is a volunteer program that promotes mental health by focusing on total well-being – physical, mental, social and spiritual. The program includes education, encouragement, health seminars and prizes.

Read more about how Red Lake promotes employee well-being
Read about our approach to safety and health

Environment

5%
more water flows into Balmer Lake than is taken for mining purposes

When Goldcorp acquired Red Lake, tailings deposits and pond overflow, mine site drainage and other discharge from various mining companies had made Balmer Lake a barren body of water. Working with provincial and federal authorities, Red Lake upgraded historic tailings facilities, built new water treatment plants, and used wetland technology to reduce nutrient loadings to transform the lake into a thriving ecosystem with a healthy fish population.

Read more about our rehabilitation of Balmer Lake
Read about how we manage our impact on the environment

Adapting to increase productivity and lower costs

Red Lake is a good example of how we’re constantly making changes to increase production and lower costs.

Read more about how we’re creating value at every stage of the mining cycle

Although the site has extensive infrastructure, we’re only using what we need to meet our sustainable production targets. We have put two mine shafts and Red Lake mill on care and maintenance. Red Lake is also transitioning to mechanized and bulk mining and is automating how it moves ore and waste rock.

Innovations include:

  • Using remote controlled machinery to break rocks and operate on more than one mining horizon at once
  • Automating the movement of ore and waste
  • Developing semi-autonomous scoop operations and integrating automation into processes that are handled using remote control
Bill Gascon
Mine General Manager

Red Lake Contact

t: (807) 735-2077
info@goldcorp.com

15 Mine Road, Bag 2000 Balmertown, Ontario P0V 1C0

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