Drilling cuts ore grade intersections at Red Lake

Surface and underground drilling at Goldcorp’s (TSE) Red Lake mine continues to intersect ore-grade mineralization, suggesting continuity of the hosting structures and mineralization.

In addition, underground results have provided valuable information regarding the geometry of the two newly discovered, high-grade zones, Quartz Vein and Footwall, as well as the producing Main zone. This information will be used to direct future exploration and development at the mine site.

A total of 6 holes have cut ore-grade mineralization hosted within the Quartz Vein zone, which lies about 300 ft. south of the Main zone. Uncut assay values range between 0.81 and 65.08 oz. gold per ton over intervals varying from 1.2 to 3.4 ft. The weighted value of the quartz vein structure is 20.07 oz. (uncut) over 2.4 ft.

The structure which hosts the Quartz Vein zone is now thought to have a strike length of 300 ft. and a dip length of 500 ft.

The Footwall zone, found 30 ft. north of the Main zone, has been intersected with 21 drill holes. There are indications that the zone is a quartz-carbonate replacement structure with a strike length of 500 ft. and a dip length of 650 ft.

Assay values from drilling range from trace amounts to 10 oz. over widths of 1-19.7 ft. The weighted average of the footwall zone is 1.64 oz. (uncut) over 6.1 ft.

Three holes have cut ore grade mineralization within the Main zone. Assay values range between 0.4 and 5.22 oz. over widths of 2.7-4.8 ft. The zone now has a strike length of 400 ft., a dip length of 500 ft., and it remains open at depth.

Deeper drilling from the 38-level is also providing information on the continuity of the ore. Three widely spaced holes suggest these sulphide zones are present at depth. Values from these holes average 0.25 oz. over widths of 7- 10 ft.

In other news, Goldcorp has initiated a 30,000-ft., near-surface drill program designed to test two shallow gold zones discovered last year. The mineralization is found within 450-600 ft. below surface and will be tested with both surface and underground drilling.