Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

*** Gold related post (GG) ***

G'morning ml,
Some terrific numbers, to be sure...... <GGG>
Goldcorp is truly a keeper!
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GOLDCORP INC.: Deepest HGZ Multi-Ounce Intersection of Gold, Yet 2.11 Ounces per Ton over 48 Feet Best Intersection: 39.98 Ounces per Ton over 34.1 Feet Expansion on Target

Monday September 22, 6:06 pm ET


TORONTO--(BUSINESS WIRE)--Sept. 22, 2003--
(All assay values are uncut)
(All dollar amounts in US$)
GOLDCORP INC. (NYSE:GG - News; TSX:G - News) is pleased to announce encouraging exploration results from its Red Lake Mine, in northwestern Ontario, Canada. Multiple zones of multi-ounce gold mineralization continue to be encountered at greater depths. This type of mineralization is a characteristic of the upper areas of the High Grade Zone (HGZ), where the richest concentrations of gold have been found, to-date. In addition, the dimensions of HGZ and Sulphide Mineralization (SZ) in all of the target areas continue to expand. Also, the mine expansion and construction of the new shaft is moving forward quickly.

Highlights of the exploration results are summarized below:

The deepest multiple ounce occurrence of the HGZ ever encountered: 2.11 ounces of gold per ton (opt) (72.4 grams per tonne (gpt)) over 48 feet (ft) (14.63 metres (m)) at a vertical depth of 7,165 ft (2184 m). This intersection indicates the HGZ now extends below the planned bottom of the new shaft (7,150 ft or 2180 m).
Multiple zones of high grade mineralization were encountered beneath current reserves. The best values were found within a 134 ft (40.84 m) interval containing four intersections of the HGZ that included 16.46 opt (564.3 gpt) over 22 ft (6.71 m), and 3.24 opt (111.1 gpt) over 33.5 ft (10.21 m).
The extremely high grade nature of the Hanging Wall Zones beneath the current reserves was confirmed by intersections of up to 39.98 opt (1,370.7 gpt) over 34.1 ft (10.39 m).
The HGZ was identified 260 ft (79 m) east of its previously identified eastern limits with intersections of up to 3.52 opt (120.7 gpt) over 7.4 ft (2.26 m) at a vertical depth of 7,112 ft (2,168 m).
The deepest intersection of Sulphide Mineralization ever, was obtained at a vertical depth of 7,300 ft (2,225 m), some 3,000 ft (920 m) below where it was last mined.
CONTINUING EXPLORATION SUCCESS!

HIGH GRADE ZONE (HGZ)

Objective to increase ounces per vertical foot

In the upper 1,200 ft (366 m) of the HGZ, to a depth of 5,500 ft (1,676 m), which is the area which has received the most intensive exploration efforts, the average gold content (including mined material) is 3,500 ounces of gold per vertical foot. Below this, the HGZ has been shown to extend deeper for at least an additional 1,900 ft (579 m). However the HGZ in this lower area is less explored and so far, the gold content (including mined material) is lower at 1,500 ounces of gold per vertical foot. The recent discovery of multiple zones of multi-ounce, high grade mineralization at depth indicates that the gold content is increasing and with it the possibility to increase the reserve and resource base of the HGZ.

Hanging Wall Zones

Deepest Intersection of Multi-Ounce Mineralization

2.11 opt (72.4 gpt) over 48 ft (14.63 m)

Hole 37L034IW intersected 2.11 opt (72.4 gpt) over 48 ft (14.63 m) at a vertical depth of 7,165 ft (2,184 m) in the Hanging Wall Zones of the HGZ. This is the deepest intersection of multi-ounce mineralization yet obtained in the HGZ. This result is significant as it indicates the HGZ continues at least to the planned depth (7,150 ft or 2,180 m) of the new shaft and further suggests the likelihood that it is continuous at depths below this.

HGZ 260 ft (79 m) East of Previous Limits

3.52 opt (120.7 gpt) over 7.4 ft (2.26 m)

Hole 37L460AW intersected 3.52 opt (120.7 gpt) over 7.4 ft (2.26 m) at a vertical depth of 7,112 ft (2,168 m), 260 ft (79 m) east of the previously defined eastern limits of the Hanging Wall Zones. This hole is significant since it is the second deepest occurrence of multi-ounce mineralization in the HGZ and it suggests the possibility that the dimensions of the mineralization increase at depth either through increased lateral continuity or increased structural complexity, or possibly a combination of both.

Continuity Confirmed at Depth

Extremely High Grade and Multiple Zones.

Up to 39.98 opt (1,370.7 gpt) over 34.1 ft (10.39 m)!

Exploration below the limits of reserves (6,475 ft or 1,974 m) has been successful in establishing the continuity of the Hanging Wall Zones of the HGZ, and confirming the extremely high grade nature of this mineralization over substantial thicknesses.

For example hole 37L422A intersected 39.98 opt (1,370.7 gpt) over 34.1 ft (10.39 m) at a vertical depth of 6,480 ft (1,975 m). In addition hole 37L464 intersected multiple zones of high grade mineralization to a maximum depth of 6,800 ft (2,073 m). This latter hole encountered four zones of mineralization over a length of 134 ft (40.84 m) which included 16.46 opt (564.3 gpt) over 22 ft (6.71 m), 5.61 opt (192.3 gpt) over 5.0 ft (1.52 m), and 3.24 opt (111.1 gpt) over 33.5 ft (10.21 m).

The occurrence of multiple zones of high grade mineralization has increased with the intensity of drilling at depth. It potentially indicates increased structural complexity at depth, which is a feature of the upper areas of the HGZ where it is richest

CONTINUED AT:

http://biz.yahoo.com/bw/030922/225961_1.html