IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) has received additional positive assay results from its delineation diamond drilling programme at the Gosselin zone discovery in Ontario, Canada.
The drilling results aree centred approximately 1.5 kilometres northeast of the Côté Gold construction project.
The Gosselin delineation drilling programme is being undertaken as part of the Côté Gold 70:30 joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining Co., Ltd. (“SMM”). Côté Gold is currently under construction with commercial production anticipated in the second half of 2023.
- 355.5 m at 0.78 g/t Au in drill hole GOS21-94 from 128.5 m including; 96.6 m at 1.50 g/t Au from 383.4 m;
- 256.0 m at 2.05 g/t Au in drill hole GOS21-98 from 156.0 m including; 1.0 m at 101.0 g/t Au from 284.0 m; and 1.0 m at 197.0 g/t Au from 321.0 m;
- 357.5 m at 0.55 g/t Au in drill hole GOS21-101 from 65.5 m including; 48.5 m at 1.03 g/t Au from 65.5 m, and 111.0 m at 0.86 g/t Au from 312.0 m;
- 173.0 m at 0.70 g/t Au in drill hole GOS21-95 from 228.0 m including; 102.0 m at 0.95 g/t Au from 273.0 m;
- 87.9 m at 1.30 g/t Au in drill hole GOS21-102 from 335.1 m, including; 1.0 m at 60.20 g/t from 383.5 m.
Craig MacDougall, Executive Vice President, Growth for IAMGOLD, said the company’s confidence in the Gosselin resource continues to build and these latest results compare well with predicted grades from the resource block model and in some cases have extended the mineralisation outside of the resource boundaries of the mineralisation model.
“Our planned drilling programme in 2022 will target areas with potential for resource expansion.”
IAMGOLD is reporting assay results from an additional 10 diamond drill holes totalling 4,149 m completed between July and October, 2021, for which results were received after the closure of the database used to support the Gosselin deposit mineral resources estimate disclosed on October 18, 2021.
On September 21, 2021, IAMGOLD reported assay results for 31 diamond drill holes totalling 11,735 m completed in 2021. These results of the in-fill drilling programme were incorporated into the initial mineral resource estimate for the Gosselin deposit announced on October 18, 2021which estimated 3.35 million ounces in indicated resources and a further 1.71 million ounces in inferred resources (on a 100% basis using a US$1,500 per ounce gold price).
The resource estimation process has identified a number of areas with potential for resource expansion at depth, along strike and in areas where drill hole spacing remains too wide to classify mineral resources at this time. The Gosselin deposit has only been drilled to about half the depth of the Côté Gold deposit and remains open at depth where a number of drill holes ended in mineralisation.
In addition, an overlap area between the Gosselin deposit and the adjacent Côté Gold resource pit shells could potentially provide an opportunity for optimisation of a combined pit shell selection, which may unlock mineral resources in the overlap area.
A winter diamond drilling programme is planned to begin testing these expansion target areas and preparation of land and lake-ice based platforms are presently in progress.
Additional technical studies are planned which will include: a sampling program to advance future metallurgical test work to evaluate comminution characteristics and gold recoveries over a range of ore types and grades; mining and infrastructure studies to review alternatives to optimise the inclusion of the Gosselin deposit resources into future Côté Gold life-of-mine plans; and commencing the collection of additional baseline data to support future permitting requirements.
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