Goldcorp Achieves Record Reserve/Resource Levels.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Goldcorp Goldcorp (TSX: G, NYSE: GG) is one of the world’s largest gold mining companies with the strongest production growth profile among all major gold companies. Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :G)(NYSE NYSE See: New York Stock Exchange :GG) is pleased to report record levels of gold reserves and resources as of December December: see month. 31, 2005, summarized as follows: - Proven and Probable PROBABLE. That which has the appearance of truth; that which appears to be founded in reason. gold reserves have nearly tripled to 14.7 million ounces; - Measured and Indicated gold resources have increased by 60% to 2.6 million ounces; and - Inferred gold resources have increased by 650% to 7.2 million ounces, compared with December 31, 2004. Ian Telfer, President and Chief Executive Officer of the Company, said: "Through a combination of acquisitions and organic growth, our gold reserves have nearly tripled during 2005, to 14.7 million ounces. Even more impressive is our growth in resources as this represents the long term future of the Company. The Company now has almost 3 million ounces of Measured and Indicated resources and over 7 million ounces of Inferred resources.These reserves and resources provide Goldcorp with an excellent base for the years ahead." On a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis, as at December 31, 2005, total Proven and Probable gold reserves of Goldcorp, including its interest in Placer Dome Placer Dome was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own. Inc. reserves to be acquired from Barrick Gold Barrick Gold Corporation TSX: ABX NYSE: ABX is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units (RBU's) located in Australia, Africa, North America and South America. Corporation, were 25.3 million ounces (note i).Measured and Indicated gold resources were 10.4 million ounces and Inferred gold resources were 12.3 million ounces. A conference call will be held Monday Monday: see week. , March 6 at 11:00 a.m. (ET) to discuss year end financial results and the reserve and resource update. You may join the call by dialing toll free 1-888-789-0089 or (416) 695-9753 for calls from outside Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of and the US. The conference call will be recorded and you can listen to a playback Playback could mean:
Note i: For a breakdown breakdown /break·down/ (brak´doun) 1. the act or process of ceasing to function. 2. an often sudden collapse in health. 3. loss of self-control. of Placer Dome's reserves and resources by category and additional information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc such reserves and resources, see Placer Dome's press release of February February: see month. 20, 2006. Such reserves and resources were calculated by employees of Placer Dome in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with National Instrument 43-101, as required by Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities , and in accordance with Placer Dome's previously established policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental , and have not been independently verified ver·i·fy tr.v. ver·i·fied, ver·i·fy·ing, ver·i·fies 1. To prove the truth of by presentation of evidence or testimony; substantiate. 2. by Goldcorp Inc. Industry Guide 7 (under the Securities and Exchange Act of 1934), as interpreted Translated from source code into machine code one line at a time. See interpreted language and interpreter. interpreted - interpreter by Staff of the SEC, applies different standards to classify clas·si·fy tr.v. clas·si·fied, clas·si·fy·ing, clas·si·fies 1. To arrange or organize according to class or category. 2. To designate (a document, for example) as confidential, secret, or top secret. mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. as a reserve. Based on a preliminary review, Goldcorp does not intend to report mineralization at the Pueblo Pueblo, city, United States Pueblo (pwĕb`lō, py  ĕb`lō), city (1990 pop. 98,640), seat of Pueblo co., S central Colo. Viejo project as
a reserve for U.S. reporting purposes at this time.
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GOLDCORP INC.
PROVEN AND PROBABLE RESERVES
AS OF DECEMBER 31, 2005 (1,5,6,7)
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million million
GOLD tonnes g Au/t ounces
Red Lake (100%) Canada 2.83 53.98 4.92
Los Filos (100%) Mexico 202.65 0.69 4.50
Alumbrera (37.5%)(2) Argentina 143.6 30.51 2.33
Amapari (100%) Brazil 17.21 2.43 1.34
San Dimas (100%) Mexico 3.25 6.02 0.63
Peak (100%) Australia 2.06 5.86 0.39
Nukay (100%) Mexico 1.73 5.94 0.33
Wharf (100%) United States 3.81 1.12 0.14
San Martin (100%) Mexico 0.90 4.05 0.12
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TOTAL 14.70
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million million
SILVER tonnes g Ag/t ounces
San Dimas (100%) Mexico 3.25 421 44.0
San Martin (100%) Mexico 0.90 47 1.3
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TOTAL 45.4
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million million
COPPER tonnes % Cu ounces
Alumbrera (37.5%)(2) Argentina 143.63 0.46% 1,449
Peak (100%) Australia 2.06 0.71% 32
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TOTAL 1,481
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GOLDCORP INC.
MEASURED AND INDICATED RESOURCES
AS OF DECEMBER 31, 2005 (1,3,4,5,6,7)
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million million
GOLD tonnes g Au/t ounces
Red Lake (100%) Canada 2.03 14.17 0.93
Nukay (100%) Mexico 7.17 3.02 0.70
Los Filos (100%) Mexico 16.18 0.70 0.36
Peak (100%) Australia 1.82 4.84 0.28
Amapari (100%) Brazil 3.38 1.63 0.18
Alumbrera (37.5%)(2) Argentina 8.63 0.37 0.10
San Martin (100%) Mexico 0.22 0.86 0.01
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TOTAL 2.55
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million million
SILVER tonnes g Ag/t ounces
San Martin (100%) Mexico 0.22 231 1.7
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TOTAL 1.7
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million million
COPPER tonnes % Cu ounces
Alumbrera (37.5%)(2) Argentina 8.63 0.38% 71
Peak (100%) Australia 1.82 1.09% 44
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TOTAL 115
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GOLDCORP INC.
INFERRED RESOURCES
AS OF DECEMBER 31, 2005 (1,4,5,6,7)
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million million
GOLD tonnes g Au/t ounces
Red Lake (100%) Canada 1.59 30.55 1.57
San Dimas (100%) Mexico 17.27 3.17 1.76
Nukay (100%) Mexico 8.51 4.03 1.10
Amapari (100%) Brazil 6.13 5.09 1.00
El Limon (21.2%)(2) Mexico 6.50 3.27 0.68
Peak (100%) Australia 2.00 10.20 0.65
San Martin (100%) Mexico 2.87 2.81 0.26
Los Filos (100%) Mexico 10.92 0.49 0.17
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TOTAL 7.20
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million million
SILVER tonnes g Ag/t ounces
San Dimas (100%) Mexico 17.27 321 178.1
San Martin (100%) Mexico 2.87 111 10.3
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TOTAL 188.4
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million million
COPPER tonnes % Cu ounces
Peak (100%) Australia 2.00 0.45% 20
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TOTAL 20
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Notes:
1. All Mineral Reserves and Mineral Resources have been calculated
as of December 31, 2005 in accordance with the standards of the
Canadian Institute of Mining, Metallurgy and Petroleum and
National Instrument 43-101, or the AusIMM JORC equivalent.
2. Data shown is Goldcorp's share of reserves and resources.
3. All Mineral Resources are exclusive of Mineral Reserves.
4. Mineral Resources which are not Mineral Reserves do not have
demonstrated economic viability.
5. Qualified Persons for the Mineral Reserve and Mineral Resource
estimates as defined by the National Instrument 43-101 are as
follows:
a. Red Lake reserves and resources Stephen McGibbon, P.Geo.,
Red Lake Mine
b. San Dimas reserves and resources Reynaldo Rivera, AusIMM,
Luismin S.A. de C.V.
c. San Martin reserves and resources Reynaldo Rivera, AusIMM,
Luismin S.A. de C.V.
d. Nukay reserves and resources Reynaldo Rivera, AusIMM,
Luismin S.A. de C.V. and
Gary Giroux. P.Eng.,
Micon Consultants
e. Los Filos reserves Mike Hester, P.E.,
Independent Mining
Consultants
resources Neil Burns, P.Geo.,
Snowden Mineral Industry
Consultants
f. El Limon resources James N. Grey, P.Geo.,
Al Samis, P.Geo.,
Teck Cominco Ltd.
g. Alumbrera reserves and resources Luis Rivera, AusIMM,
Minera Alumbrera Ltd.
h. Peak reserves Joe Ranford, AusIMM,
Peak Gold Mines
resources Rex Berthelsen, AusIMM,
Peak Gold Mines
i. Amapari reserves and resources Rodrigo Mello, AusIMM,
MPBA
j. Wharf reserves Randy V.J. Smallwood,
P.Eng., Goldcorp Inc.
k. Goldcorp reserves and resources Randy V.J. Smallwood,
P.Eng., Goldcorp Inc.
6. Mineral Reserves and Mineral Resources are estimated using
appropriate recovery rates and commodity prices as follows;
a. $425 gold and $1.25 Copper Peak reserves and
resources
b. $350 gold and $0.90 Copper Alumbrera reserves
c. $400 gold and $1.00 Copper Alumbrera resources
d. $400 gold and $6.00 Silver San Dimas reserves, San
Martin reserves, Nukay
reserves
e. $450 gold and $7.00 Silver San Dimas resources, San
Martin resources, Nukay
resources
f. $400 gold Red Lake, Los Filos,
Amapari reserves, El Limon
resources
g. $450 gold Red Lake, Los Filos,
Amapari resources
7. For a detailed breakdown of Proven and Probable Reserves, and
Measured, Indicated and Inferred Resources please reference the
supplemental information attached at the end of this press
release, or visit www.goldcorp.com.
Cautionary Note Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains "forward-looking statements", within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and similar Canadian legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, silver and copper, the estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. of mineral reserves and resources, the realization (specification) realization - A UML semantic relationship between a classifier that specifies a contract and another classifier that guarantees to carry it out. [Handout by Mr. David Gillibrand]. of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation Reclamation A claim for the right to return or the right to demand the return of a security that has been previously accepted as a result of bad delivery or other irregularities in the delivery and settlement process. expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking for·ward-look·ing adj. Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan. Adj. 1. terminology The terminology used in the computer and telecommunications field adds tremendous confusion not only for the lay person, but for the technicians themselves. What many do not realize is that terms are made up by anybody and everybody in a nonchalant, casual manner without any regard or such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcorp to be materially different from those expressed or implied Inferred from circumstances; known indirectly. In its legal application, the term implied is used in contrast with express, where the intention regarding the subject matter is explicitly and directly indicated. by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. ; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver and copper; possible variations in ore ore, metal-bearing mineral mass that can be profitably mined. Nearly all rock deposits contain some metallic minerals, but in many cases the concentration of metal is too low to justify mining the ore. reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in (a) the section entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: "Description of the Business - Risk Factors" in Goldcorp's annual information form for the year ended December 31, 2004, and (b) the section entitled "Description of the Business - Risk Factors" in Wheaton Wheaton. 1 City (1990 pop. 51,464), seat of Du Page co., NE Ill., a residential suburb of Chicago; inc. 1859. It is a religious center and the headquarters of the Theosophical Society of America. Many evangelical organizations are also based there. River Minerals Ltd.'s annual information form for the year ended December 31, 2004. Although Goldcorp has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcorp does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Readers should refer to the respective annual information forms of Goldcorp and Wheaton River Minerals Ltd., each for the year ended December 31, 2004, and other continuous disclosure documents filed by Goldcorp since January January: see month. 1, 2005 available at www.sedar.com, for further information on Goldcorp's mineral projects. Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources: This press release uses the terms "Measured", "Indicated" and "Inferred" Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature " have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility fea·si·ble adj. 1. Capable of being accomplished or brought about; possible: a feasible plan. See Synonyms at possible. 2. . It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically ec·o·nom·i·cal adj. 1. Prudent and thrifty in management; not wasteful or extravagant. See Synonyms at sparing. 2. Intended to save money, as by efficient operation or elimination of unnecessary features; economic: or legally mineable.
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RESERVES - GOLDCORP INC.
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as of
December PROVEN PROBABLE
31,2005 Tonnage Grade Contained Tonnage Grade Contained
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GOLD mt g Au/t m oz mt g Au/t m oz
Red Lake 0.80 63.05 1.62 2.03 50.42 3.30
Los Filos 25.16 0.88 0.71 177.48 0.66 3.79
Alumbrera 135.00 0.51 2.21 8.63 0.43 0.12
Amapari 5.83 2.13 0.40 11.38 2.58 0.95
San Dimas 1.42 7.04 0.32 1.83 5.23 0.31
Peak Gold 0.92 5.67 0.17 1.15 6.01 0.22
Nukay 0.75 6.27 0.15 0.98 5.68 0.18
Wharf Mine 3.73 1.13 0.14 0.07 0.69 0.00
San Martin 0.31 33.3 0.03 0.58 4.43 0.08
---- ----
Totals 5.75 8.95
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SILVER mt g Ag/t m oz mt g Ag/t m oz
San Dimas 1.42 447 20.4 1.83 401 23.6
San Martin 0.31 47 0.5 0.58 46 0.9
--- ---
Totals 20.9 24.5
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COPPER mt % Cu m lbs Cu mt % Cu m lbs Cu
Alumbrera 135.00 0.46% 1,369 8.63 0.42% 80
Peak Gold 0.92 0.72% 15 1.15 0.70% 18
-- --
Totals 1,384 98
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as of PROVEN &
December PROBABLE
31,2005 Tonnage Grade Contained
--------------------------------------
GOLD mt g Au/t m oz
Red Lake 2.83 50.42 4.92
Los Filos 202.65 0.69 4.50
Alumbrera 143.63 0.51 2.33
Amapari 17.21 2.43 1.34
San Dimas 3.25 6.02 0.63
Peak Gold 2.06 5.86 0.39
Nukay 1.73 5.94 0.33
Wharf Mine 3.81 1.12 0.14
San Martin 0.90 4.05 0.12
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Totals 14.70
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SILVER mt g Ag/t m oz
San Dimas 3.25 421 44.0
San Martin 0.90 47 1.3
---
Totals 45.4
--------------------------------------
COPPER mt % Cu m lbs Cu
Alumbrera 143.63 0.46% 1,449
Peak Gold 2.06 0.71% 32
--
Totals 1,481
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RESOURCES - GOLDCORP INC.
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as of
December MEASURED INDICATED
31,2005 Tonnage Grade Contained Tonnage Grade Contained
---------------------------------------------------------------------
GOLD mt g Au/t m oz mt g Au/t m oz
Red Lake 0.30 11.77 0.12 1.73 14.60 0.81
Nukay - - - 7.17 3.02 0.70
San Dimas - - - - - -
Amapari 1.55 1.50 0.08 1.83 1.73 0.10
Peak Gold 0.81 4.33 0.11 1.02 5.24 0.17
El Limon - - - - - -
Los Filos 3.22 0.78 0.08 12.96 0.68 0.28
San Martin 0.02 0.73 0.00 0.20 0.87 0.01
Alumbrera 7.13 0.36 0.08 1.50 0.40 0.02
---- ----
Totals 0.47 2.09
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SILVER mt g Ag/t m oz mt g Ag/t m oz
San Dimas - - - - - -
San Martin 0.02 204 0.2 0.20 234 1.5
--- ---
Totals 0.2 1.5
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COPPER mt % Cu m lbs Cu mt % Cu m lbs Cu
Alumbrera 7.13 0.37% 58 1.50 0.40% 13
Peak Gold 0.81 1.00% 18 1.02 1.15% 26
-- --
Totals 76 39
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as of MEASURED &
December INDICATED INDICATED
31,2005 Tonnage Grade Contained Tonnage Grade Contained
---------------------------------------------------------------------
GOLD mt g Au/t m oz mt g Au/t m oz
Red Lake 2.03 14.17 0.93 1.59 30.55 1.57
Nukay 7.17 3.02 0.70 8.51 4.03 1.10
San Dimas - - - 17.27 3.17 1.76
Amapari 3.38 1.63 0.18 6.13 5.09 1.00
Peak Gold 1.82 4.84 0.28 2.00 10.20 0.65
El Limon - - - 6.50 3.27 0.68
Los Filos 16.18 0.70 0.36 10.92 0.49 0.17
San Martin 0.22 0.86 0.01 2.87 2.81 0.26
Alumbrera 8.63 0.37 0.10 - - -
---- ----
Totals 2.55 7.20
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SILVER mt g Ag/t m oz mt g Ag/t m oz
San Dimas - - - 17.27 321 178.1
San Martin 0.22 231 1.7 2.87 111 10.3
--- ---
Totals 1.7 188.4
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COPPER mt % Cu m lbs Cu mt % Cu m lbs Cu
Alumbrera 8.63 0.38% 71 - 0.00% -
Peak Gold 1.82 1.09% 44 2.00 0.45% 20
-- --
Totals 115 20
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