Resource World Magazine

40 www.resourceworld.com o c t o b e r / n o v e m b e r 2 0 1 6 The Penasquito Mine in Mexico is the engine that drives Goldcorp Inc. [G-TSX; GG-NYSE] as it strives to sustainably produce up to 4 million ounces of gold annually. But Goldcorp also has a major commitment to Ontario, where its opera- tions include the province's most fabled mines in Red Lake and Timmins. The big hope is that there is lots more gold to be found in those camps. Goldcorp has four gold mines in the Red Lake area: Cochenour, Campbell, Red Lake and Balmer. The high-grade zone is the backbone of the Red Lake operation averaging more than 2 ounces of gold/ tonne. Second quarter gold production was 73,000 ounces at an all-in sustaining cost of $958/oz. That was down from 78,800 ounces in Q1. Recent drilling has focused on HG Young, a high-grade discovery, located near the Red Lake ofperation and hosting an indicated resource of 116,000 ounces, grad- ing 19.08 g/t gold and 517,000 ounces of inferred material, grading 20.44 g/t gold. Goldcorp CEO, David Garofalo, said the company is still about two years away from understanding how the Cochenour Project will fit with the Red Lake operation. Goldcorp recently removed the Cochenour gold project from its production plan- ning due to a lack of understanding of the geology. Dormant since 1971, the past-producing Cochenour gold mine is being redeveloped to replace ore from the Campbell Mine, located 5 km east. In the last few years, Goldcorp has been doing much work to build a haulage drift to connect the Cochenour shaft with the Red Lake Mine on the 5,100 level. The company plans to use the drift to transport ore by under- ground railway from the Cochenour-Bruce Channel deposit to the Red Lake Mine for processing. However, Garofalo said the company needs another year to under- stand how the deposit can be folded into the future mine plan at Red Lake. Porcupine: The century-old Porcupine operation is located in Timmins and includes Dome underground, the Hollinger open pit and Hoyle Pond underground mine and processing plant. Second quarter gold production was 73,000 ounces at an all-in sustaining cost of $844/oz. That was down from 74,200 in the first quarter of 2015. The company has post- poned a plan to cease underground mining at Dome in mid-2016, while it examines options to extend mine life. Musselwhite: Second quarter gold pro- duction came in at 59,000 ounces at an all-in sustaining cost of $721/oz, a figure that was almost unchanged from the second quarter of 2015. Goldcorp has elected to proceed with a $90 million Materials Handling Project that aims to reduce the company's reliance on high cost truck haulage by devel- oping an underground winze (an inclined or vertical internal shaft) to connect the underground levels and hoist ore. After the winze has been completed, likely in the first quarter of 2019, Goldcorp sees incremental production of approximately 20%. Goldcorp says the Borden Project (maiden gold mineral reserve of 860,000 ounces), located 160 km west of Porcupine, has the potential to further enhance the long term economics of Porcupine. A pre- feasibility study is underway to determine the optimization of a combined Borden Porcupine operation. n ONTariO Goldcorp: long-term mine planning in Ontario by Peter Kennedy • Cruz has recently acquired 8 separate cobalt prospects across North America • The Johnson Cobalt Prospect encountered grab assays over 300m up to 10.5% cobalt, 69 g/t AG, 12% NI and .4% CU (historic data) • The War Eagle Prospect encountered surface samples of 6.41% cobalt, 3.59% nickel and 7.25% copper (historic data) • Cobalt prices have increased significantly over the past 6 months • Cobalt is one of the main elements in Lithium-Ion batteries • Cruz currently has a very tight share structure with only approximately 14 million shares outstanding CUZ–TSXv BKTPF–USA A2AG5M–Germany 604.899.9150 | www.cruzcapitalcorp.com twitter @CruzCapitalCorp North America's Leading Cobalt Project Generator & Developer

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