TORONTO,
June 16, 2017 /CNW/ - IAMGOLD
Corporation ("IAMGOLD" or the "Company") today
provided the remaining assay results from its 2017 infill drilling
program at the Saramacca project, located 25 kilometres southwest
of its Rosebel Gold Mine ("RGM") in Suriname. Assay results
have now been received from the entire 2017 delineation drill
program consisting of 113 drill holes totaling 19,689 metres,
including 35 drill holes totaling 5,523 metres reported
herein. With the receipt of all assays, the geology
and deposit models are being updated in support of an initial
National Instrument 43-101 resource estimate expected for
completion by the third quarter 2017.
The drill hole assay intersections are provided in Table 1
and include the following highlights:
(A drill
hole plan map is attached to this news release.)
- SMDD17-154: 6.5 metres grading 10.45 g/t Au
- SMDD17-159: 10.0 metres grading 7.62 g/t Au
- SMDD17-166: 34.5 metres grading 2.23 g/t Au
- SMDD17-168: 41.0 metres grading 5.56 g/t Au
Craig MacDougall, Senior
Vice President, Exploration for IAMGOLD, stated: "With the receipt
of the final assay results from the recently completed infill
drilling program, we are now focused on updating the geology and
resource models to support an initial resource estimate anticipated
for completion in the third quarter. It is important to note
that we believe significant exploration upside remains with
potential to expand existing and discover additional resources with
further exploration. Once again, I congratulate the
exploration team for the well-executed and safely-completed
drilling program as we advance the project towards the next
important milestone."
Added IAMGOLD's President and CEO Steve Letwin, "Our exploration team has done an
outstanding job to complete the drilling program as quickly as they
have, with a maiden resource estimate only a few months
away."
2017 Exploration
Program
The 2017 50 x 50 metre infill drilling program has
confirmed the presence of multiple mineralized structures within an
approximately 2-kilometre long and 600-metre wide corridor.
Mineralization occurs in the near surface oxidized weathering
profile to depths ranging from 50 to 100 metres, as well as deeper
in the primary sulphide zones. Mineralization remains open
along strike and at depth and will be tested in future
drilling programs. In the deposit area, three mineralization
styles are recognized from the drilling completed to date: breccia
hosted mineralization characterized by jigsaw, crackle and matrix
supported breccias; shear hosted mineralization characterized by
well-developed pyritic disseminations and stringers; and irregular
pyrite-quartz-carbonate veins which locally carry high gold
grades.
Preliminary engineering and permitting studies are
underway to support and develop future exploitation
scenarios.
About the Saramacca Project
The Saramacca project is strategically located
approximately 25 kilometres southwest of the Rosebel Gold Mine
milling facility. Mineralization is hosted in the Paramaka
Formation within the lower part of the Marowijne Greenstone Belt,
which is dominated by metamorphosed
dacite, rhyolite, basalt and andesite
lithologies in the project area. These are traversed by the
regional, northwest trending Saramacca shear zone, an important
deformation zone for the localization of gold
mineralization.
The Saramacca property has been explored since the 1990's
principally by Golden Star Resources Ltd. ("Golden Star") and later
as a joint venture between Golden
Star and Newmont Mining Corporation. Much of that work
focused on the discovery and delineation of Anomaly M, which was
the subject of successive auger and diamond drilling programs with
over 50 diamond drill holes and over 200 auger holes completed in
the anomaly area. Evaluation of this work suggests an exploration
target potential of between 8 and 40 million tonnes grading between
1.0 and 1.8 g/t Au for potentially 0.5 to 1.4 million contained
ounces of gold. The potential quantity and grade are conceptual in
nature and insufficient exploration work has been completed to date
to define a mineral resource. The property will require significant
future exploration to advance to a resource stage and there can be
no certainty that the exploration target will result in a mineral
resource being defined.
On August 30, 2016, the
Company signed a letter of intent with the Government of Suriname
to acquire rights to the Saramacca property, with the intent of
defining a National Instrument 43-101 mineral resource
within 24 months. The terms of the letter
included an initial payment of $0.2
million, which enabled immediate access to the property for
Rosebel's exploration team to conduct due diligence, as well as
access to the data from previous exploration activity at the
Saramacca property. On September 30,
2016, having been satisfied with the results of the due
diligence, the Company ratified the letter of intent to acquire the
Saramacca property and subsequently paid $10
million in cash and agreed to issue 3.125 million IAMGOLD
common shares to the Government of Suriname in three approximately
equal annual instalments on each successive anniversary of the date
the right of exploration was transferred to Rosebel (December 14, 2016). In addition, the agreement
provides for a potential upward adjustment to the purchase price
based on the contained gold ounces identified by Rosebel in
National Instrument 43-101 measured and indicated resource
categories, within a certain Whittle shell within the first 24
months, to a maximum of $10
million.
The Saramacca project falls within the "UJV" area as
defined in an Agreement with the Government of Suriname announced
on April 15, 2013. The
Agreement establishes a joint venture growth vehicle under which
Rosebel would hold a 70% participating interest and the Government
will acquire a 30% participating interest on a fully-paid
basis.
Qualified Persons and Technical
Information
The drilling results contained in this news release have
been prepared in accordance with National Instrument 43-101
Standards of Disclosure for Mineral Projects ("NI
43-101").
The "Qualified Person" responsible for the supervision of
the preparation, verification and review of the technical
information in this release is Ian
Stockton, MAusIMM, FAIG, RP. Geo., Exploration Manager for
IAMGOLD in Suriname. He is considered a "Qualified Person"
for the purposes of National Instrument 43-101 with respect to the
technical information being reported on. The technical information
has been included herein with the consent and prior review of the
above noted Qualified Person.
The information in this news release was reviewed and
approved by Craig MacDougall,
P.Geo., Senior Vice President, Exploration for IAMGOLD. Mr.
MacDougall is a Qualified Person as defined by National Instrument
43-101.
The sampling of, and assay data from, drill core is
monitored through the implementation of a quality assurance -
quality control (QA-QC) program designed to follow industry best
practice. Drill core (HQ and NQ size) samples are selected by the
IAMGOLD geologists and sawn in half with a diamond saw at the
Rosebel mine site. Half of the core is retained at the site for
reference purposes. Sample intervals may vary from half a metre to
one and a half metres in length depending on the geological
observations.
Samples are transported in sealed bags to FILAB in
Paramaribo, Suriname, a
representative lab of ALS. FILAB is an ISO 9001 (2008) and
ISO/IEC 170250 accredited laboratory. Samples are weighed and
coarse crushed to <2.5 mm, and 350-450 grams is
pulverized to 85% passing <100 μm. Samples are
analyzed for gold using standard fire assay technique with a 50
gram charge and an Atomic Absorption (AA) finish. IAMGOLD inserts
blanks and certified reference standard in the sample sequence for
quality control. Samples representative of the various
lithologies are collected from each drill hole and measured for
bulk density at the site RGM laboratory.
Forward Looking Statement
This news release contains forward-looking statements.
All statements, other than of historical fact, that address
activities, events or developments that the Company believes,
expects or anticipates will or may occur in the future (including,
without limitation, statements regarding expected, estimated or
planned gold production, cash costs, margin expansion, capital
expenditures and exploration expenditures and statements regarding
the estimation of mineral resources, exploration results, potential
mineralization, potential mineral resources and mineral reserves)
are forward-looking statements. Forward-looking statements are
generally identifiable by use of the words "will", "should",
"continue", "expect", "estimate", "believe", "plan" or "project" or
the negative of these words or other variations on these words or
comparable terminology. Forward-looking statements are subject to a
number of risks and uncertainties, many of which are beyond the
Company's ability to control or predict, that may cause the actual
results of the Company to differ materially from those discussed in
the forward-looking statements. Factors that could cause
actual results or events to differ materially from current
expectations include, among other things, without limitation,
failure to meet expected, estimated or planned gold production,
cash costs, margin expansion, capital expenditures and exploration
expenditures and failure to establish estimated mineral resources,
the possibility that future exploration results will not be
consistent with the Company's expectations, changes in world gold
markets and other risks disclosed in IAMGOLD's most recent Form
40-F/Annual Information Form on file with the United States
Securities and Exchange Commission and Canadian provincial
securities regulatory authorities. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking
statement.
About IAMGOLD
IAMGOLD (www.iamgold.com) is a mid-tier
mining company with four operating gold mines on three continents.
A solid base of strategic assets in North and South America and West Africa is complemented by development and
exploration projects and continued assessment of accretive
acquisition opportunities. IAMGOLD is in a strong financial
position with extensive management and operational
expertise.
Please note:
This entire news release may
be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com
and through CNW Group's website at www.newswire.ca. All
material information on IAMGOLD can be found at
www.sedar.com or at
www.sec.gov.
Si vous désirez obtenir la version française de ce
communiqué, veuillez consulter le
http://www.iamgold.com/French/accueil/default.aspx.
Table 1: Diamond Drill Hole Assay Results
HOLE-ID
|
Local UTM grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
interval
(m)
|
True Width
(m)3
|
Au (g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
Easting
|
Northing
|
Elevation
|
SMDD17-143
|
32196
|
64216
|
750
|
161
|
215
|
-47
|
0
|
12
|
12
|
6
|
0.77
|
0.77
|
|
|
|
|
|
|
|
67.5
|
73.5
|
6
|
3
|
0.7
|
0.7
|
|
|
|
|
|
|
|
79
|
87
|
8
|
4
|
4.29
|
4.29
|
|
|
|
|
|
|
|
140
|
150
|
10
|
5
|
5.46
|
5.46
|
SMDD17-147
|
31928
|
64618
|
691
|
309
|
215
|
-50
|
0
|
6
|
6
|
2
|
0.43
|
0.43
|
SMDD17-148
|
32604
|
63582
|
897
|
204
|
215
|
-50
|
1.5
|
9.7
|
8.2
|
3
|
0.84
|
0.84
|
|
|
|
|
|
|
|
153
|
161.5
|
8.5
|
4
|
1.49
|
1.49
|
SMDD17-149
|
32785
|
63318
|
907
|
156.5
|
215
|
-50
|
0
|
13.2
|
13.2
|
5
|
0.75
|
0.75
|
|
|
|
|
|
|
|
60
|
69
|
9
|
4
|
2.41
|
2.41
|
|
|
|
|
|
|
|
75
|
82.5
|
7.5
|
3
|
0.68
|
0.68
|
|
|
|
|
|
|
|
103.5
|
112
|
8.5
|
4
|
1.69
|
1.69
|
|
|
|
|
|
|
|
127
|
133
|
6
|
3
|
9.63
|
9.63
|
|
|
|
|
|
|
|
151.5
|
156.5
|
5
|
2
|
3.5
|
3.5
|
SMDD17-150
|
31825
|
64643
|
686
|
183
|
215
|
-50
|
No significant results
|
SMDD17-151
|
32532
|
63568
|
888
|
126
|
215
|
-50
|
11
|
27.85
|
16.85
|
7
|
3.35
|
3.35
|
SMDD17-152
|
32641
|
63463
|
897
|
105
|
215
|
-50
|
0
|
9
|
9
|
4
|
2.27
|
2.27
|
SMDD17-153
|
31945
|
64382
|
745
|
127.5
|
215
|
-50
|
45
|
58.5
|
13.5
|
6
|
3.06
|
3.06
|
|
|
|
|
|
|
|
71
|
76.5
|
5.5
|
2
|
2.78
|
2.78
|
SMDD17-154
|
32204
|
63884
|
867
|
315
|
35
|
-50
|
91
|
97.5
|
6.5
|
4
|
10.45
|
10.45
|
|
|
|
|
|
|
|
184.5
|
196.5
|
12
|
8
|
0.48
|
0.48
|
|
|
|
|
|
|
|
238.5
|
244.5
|
6
|
4
|
2.93
|
2.93
|
SMDD17-155
|
32751
|
63272
|
914
|
120.5
|
215
|
-50
|
No significant results
|
SMDD17-156
|
31905
|
64157
|
781
|
336
|
35
|
-50
|
175
|
185.3
|
10.3
|
7
|
3.45
|
3.45
|
|
|
|
|
|
|
|
191.5
|
201.8
|
10.3
|
7
|
7.99
|
7.99
|
|
|
|
|
|
|
|
230
|
259.5
|
29.5
|
21
|
1.02
|
1.02
|
SMDD17-157
|
32680
|
63515
|
888
|
211.5
|
215
|
-50
|
0
|
5
|
5
|
2
|
0.94
|
0.94
|
SMDD17-158
|
32318
|
63869
|
864
|
94.5
|
215
|
-50
|
No significant results
|
SMDD17-159
|
32564
|
63613
|
894
|
180
|
215
|
-50
|
0
|
10
|
10
|
4
|
7.62
|
7.62
|
|
|
|
|
|
|
|
57
|
74.2
|
17.2
|
7
|
1.31
|
1.31
|
SMDD17-160
|
32283
|
63910
|
860
|
105
|
215
|
-50
|
No significant results
|
SMDD17-161
|
32174
|
64013
|
836
|
64
|
215
|
-50
|
No significant results
|
SMDD17-162
|
32379
|
63870
|
851
|
192
|
215
|
-50
|
No significant results
|
SMDD17-163
|
32142
|
64055
|
833
|
70.5
|
215
|
-50
|
No significant results
|
SMDD17-164
|
32096
|
64077
|
828
|
40.5
|
215
|
-50
|
No significant results
|
SMDD17-165
|
32469
|
63563
|
868
|
133.5
|
35
|
-50
|
No significant results
|
SMDD17-166
|
32189
|
63949
|
845
|
203
|
35
|
-50
|
166.5
|
201
|
34.5
|
25
|
2.23
|
2.23
|
HOLE-ID
|
Local UTM grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
interval
(m)
|
True Width
(m)3
|
Au (g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
Easting
|
Northing
|
Elevation
|
SMDD17-167
|
32700
|
63112
|
911
|
250
|
35
|
-50
|
142.5
|
154
|
11.5
|
8
|
2.16
|
2.16
|
|
|
|
|
|
|
|
180.5
|
223
|
42.5
|
30
|
1.03
|
1.03
|
SMDD17-168
|
32304
|
63937
|
847
|
142.5
|
215
|
-50
|
9
|
19.5
|
10.5
|
4
|
2.88
|
2.88
|
|
|
|
|
|
|
|
75
|
116
|
41
|
17
|
5.56
|
4.06
|
SMDD17-169
|
32840
|
63138
|
901
|
175.5
|
35
|
-50
|
40.5
|
54
|
13.5
|
9
|
1.67
|
1.67
|
SMDD17-170
|
32030
|
64156
|
801
|
93
|
215
|
-50
|
52
|
57
|
5
|
2
|
0.3
|
0.3
|
SMDD17-171
|
32072
|
64129
|
804
|
76.5
|
215
|
-50
|
2
|
15
|
13
|
6
|
3.33
|
3.33
|
|
|
|
|
|
|
|
49.5
|
58.5
|
9
|
4
|
3.21
|
3.21
|
SMDD17-172
|
32802
|
62902
|
877
|
246
|
35
|
-50
|
No significant results
|
SMDD17-173
|
32799
|
63166
|
914
|
97.9
|
215
|
-50
|
No significant results
|
SMDD17-174
|
32265
|
63967
|
832
|
100
|
215
|
-50
|
2.5
|
7.5
|
5
|
2
|
0.59
|
0.59
|
SMDD17-175
|
32800
|
62993
|
856
|
124
|
35
|
-50
|
No significant results
|
SMDD17-176
|
32266
|
63967
|
832
|
107
|
215
|
-50
|
79.5
|
87
|
7.5
|
3
|
2.41
|
2.41
|
SMDD17-177
|
32760
|
62948
|
871
|
273
|
35
|
-50
|
No significant results
|
SMDD17-178
|
32843
|
62968
|
846
|
150
|
35
|
-50
|
No significant results
|
SMDD17-179
|
32469
|
63821
|
864
|
157
|
215
|
-50
|
No significant results
|
SMDD17-180
|
32867
|
63003
|
847
|
93
|
35
|
-50
|
No significant results
|
Notes:
|
1. Drill hole
intercepts are calculated using a 0.50 g/t Au assay cut-off
and 5m minimum length
|
2. During
compositing, assays greater than 30 g/t Au are capped at 30 g/t
Au
|
3. True widths are
estimated from intersected geometries
|
SOURCE IAMGOLD Corporation