Some of the highlights include:
- Drilling at Cerro Negro in Argentina returns positive results on the Silica Cap target. Following the initial drilling at Silica Cap positive results were returned from three holes, supporting further drilling on this priority target. Results include 19.28g/t Au over 2.95m from 152m (SCDD-16001), 10.6g/t Au over 4.05m from 274m (SCDD-16003)
- Positive results from testing of the Supremiato structure at the Coffee project in Canada. Recent exploration drilling continued to return good intercepts including 4.79g/t Au over 9.14m from 114m (CFR1227), 3.74g/t Au over 12.2m from 93.0m (CFR1229), and 4.52g/t Au over 15.24m from 30.5m (CFR1230). Mineralization is delineated over 500m of strike on T3 North and the Macchiato trend remains open along strike.
- Further confidence in the geological model at the Cochenour project in the Red Lake area of Canada. Results for several new holes from the infill drilling program, targeting mainly the Upper Main Zone (UMZ) have compared well to the existing block models, with results generally as expected or better providing, further confidence in the deposit model.
- Unveiled growth strategy to increase reserves over the next five years by 20% to 50 Moz. Increased targeted drilling on the company’s large, underexplored land packages, and the resource conversion at Peñasquito, Pueblo Viejo and Dome Century position the company to achieve its strategy to increase reserves by 20% over the next five years.
“Exploration advanced aggressively across the project portfolio during the fourth quarter of 2016, in line with the brownfields strategic focus of reserve replacement, as well as providing a pipeline of future opportunities for evaluation,” said Paul Harbidge, Senior Vice-President, Exploration. “During the quarter, we also continued to advance generative studies across a number of the districts for re-interpretation of the geological information, with the aim of extending the reserves and resources of our current operations. In 2017, with an exploration budget currently targeted at $100 million, we are focused on expanding and upgrading the quality of our reserves and resources through the continuation of our drill programs and the review of the results as we complete our generative study work.”
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