Partners and Agreements
About Goldcorp Inc.
Goldcorp Inc. (TSX: G, NYSE: GG) is a leading gold producer in the Americas. Goldcorp is a Canadian company headquartered in Vancouver, British Columbia, and employs more than 15,000 people worldwide.
Azimut is pleased to be partners with Goldcorp on two gold properties in the James Bay region of Québec where Goldcorp also operates the Éléonore gold mine.
The Eleonore South Property, contiguous to the Éléonore mine property, is subject to a three-way joint venture agreement signed in 2006 between Azimut, Les Mines Opinaca Ltée (a wholly-owned subsidiary of Goldcorp) and Eastmain Resources. Ownership of the property is as follows (as at November 21, 2016): Azimut 26.6%, Goldcorp 36.7% and Eastmain 36.7%.
At the Wabamisk Property, 70 km south of the Éléonore mine, Goldcorp earned a 51% interest in 2011. Goldcorp is the operator.
Goldcorp's Éléonore mine
Goldcorp acquired the Éléonore gold project in 2006, and the successful commissioning of the underground mine marked a major turning point for the James Bay region, with the Opinaca area becoming Québec's newest emerging gold camp.
The mine poured its first gold bar in 2014. In 2015, gold production amounted to 268,100 ounces, and a conservative ramp-up schedule in 2016 is expected to lead to gold production of 250,000 to 280,000 ounces. Mine production for the nine months ended September 30, 2016 is between 4,700 to 5,000 tonnes per day of ore from four production horizons. A further two production horizons are brought on line by 2018. The production ramp-up to 7,000 tonnes per day is expected to be completed in the first half of 2018. Known mineralization at Eleonore has now been traced to a vertical depth of 1,500 metres and is still open down plunge (Goldcorp website).
Goldcorp’s 43-101 compliant mineral reserve and resource statement, as of June 30, 2016, announced proven and probable reserves of 23.44 Mt at 6.07 g/t Au for 4.57 Moz of gold, measured and indicated resources of 5.14 Mt at 5.66 g/t Au for 0.93 Moz (Goldcorp website).
Relevant Press Releases
February 26, 2008
Azimut's partner Goldcorp exercises Option at Eleonore South