IAMGOLD Intercepts Westwood Mineralization at Depth
December 05 2007 - 1:46PM
Marketwired
TORONTO, ONTARIO (TSX: IMG)(NYSE: IAG)(BOTSWANA: IAMGOLD) is
pleased to announce results from 5 drill holes of the ongoing drill
program at the Westwood project, an advanced stage exploration
project located within the Company's Doyon mine property in the
Abitibi region of Northern Quebec.
These results include intercepts of the Zone 2 extension at a
vertical depth of approximately 2.3 kilometers in hole R14281B-07,
which is 800 metres deeper than mineralization previously
intersected. This hole was specifically planned to test the depth
potential and includes 10.0 metres averaging 11.5 grams per tonne
(g/t) gold and 5.0 metres averaging 23.0 g/t gold. These results
are significant given the depth of the known 3.3 million ounce
resource previously delimited which is less than 1.5
kilometres.
The first hole east of the Bousquet Fault, hole R14404-07 also
intercepted the Zone 2, a 3.0 metre intercept averaging 10.2 g/t
gold and narrow massive sulphide mineralization, a 2.0 metre
intercept of 3.6 g/t gold, 5.0% zinc, within the Westwood
horizon.
These higher grade intercepts and intercepts at depth may have
significant impact on the strike length and have potential to
substantially increase the total Westwood resource.
"These results are some of the best to date on the Westwood
project. With the increasing gold grades at this depth we are very
encouraged that Westwood could become a world class deposit,"
commented Joseph Conway, President & CEO. "The acceleration of
this project in 2007 will continue in 2008 and the results to date
continue to confirm that Westwood will be IAMGOLD's future in
Northern Quebec."
Significant intersections from this drilling campaign can be
found in Table 1 with a longitudinal section of Zone 2 shown in
Figure 1. These holes represent 7,050 metre of drilling since
September 1, 2007 for a total of 25,000 metre of drilling this
year.
In January 2008, valuation drilling on Zone 2 will begin. This
will involve the drilling of a 400 metre by 400 metre block or
panel, to demonstrate the continuity of the deposit. In addition,
work will continue on the southern exploration drift toward the
mineralized zones, which will be reached in the first quarter of
2008. More information is shown on Figure 2.
Table 1: RECENT DRILLING RESULTS FROM WESTWOOD EXPLORATION PROGRAM
---------------------------------------------------------------------------
Intersection
hole # --------------------------------------------------------------
From To Core True
(m) (m) length (m) width (m)
---------------------------------------------------------------------------
R14366-07(i) 590.0 593.0 3.0 1.8
---------------------------------------------------------------------------
R14367-07(i) 872.0 875.5 3.5 1.2
---------------------------------------------------------------------------
1328.5 1331.5 3.0 0.7
--------------------------------------------------------------
1627.5 1628.0 0.5 0.2
--------------------------------------------------------------
1659.0 1669.0 10.0 3.3
--------------------------------------------------------------
incl. 1665.0 1666.0 1.0 0.3
R14281B-07 --------------------------------------------------------------
incl. 1668.0 1669.0 1.0 0.3
--------------------------------------------------------------
1688.0 1693.0 5.0 1.7
--------------------------------------------------------------
incl. 1688.0 1689.0 1.0 0.3
--------------------------------------------------------------
incl. 1690 1691.0 1.0 0.3
---------------------------------------------------------------------------
635.0 653.0 18.0 13.2
--------------------------------------------------------------
Incl. 635.0 637.0 2.0 1.5
R14392-07 --------------------------------------------------------------
Incl. 637.0 641.0 4.0 2.9
--------------------------------------------------------------
Incl. 650.5 653.0 2.5 1.8
---------------------------------------------------------------------------
354.0 356.0 2.0 1.9
--------------------------------------------------------------
incl. 355.0 355.0 0.5 0.5
--------------------------------------------------------------
394.0 397.0 3.0 2.8
--------------------------------------------------------------
incl. 395.5 396.0 0.5 0.5
R14404-07 --------------------------------------------------------------
566.0 568.0 2.0 1.9
--------------------------------------------------------------
610.0 623.5 13.5 13.0
--------------------------------------------------------------
incl. 612.0 614.0 2.0 1.9
--------------------------------------------------------------
incl. 616.5 619.0 2.5 2.4
---------------------------------------------------------------------------
R14420-07 549.0 553.5 4.5 4.4
---------------------------------------------------------------------------
751.0 753.0 2.0 1.3
R14423-07 --------------------------------------------------------------
790.0 793.0 3.0 2.0
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Zone 2 Extension North Corridor Westwood Horizon
hole # ------------------------------------------------------------
Au Cu Zn Au Cu Zn Au Cu Zn
g/t % % g/t % % g/t % %
---------------------------------------------------------------------------
R14366-07(i) 2.7
---------------------------------------------------------------------------
R14367-07(i) 3.2
---------------------------------------------------------------------------
4.6
------------------------------------------------------------
30.1
------------------------------------------------------------
11.5
------------------------------------------------------------
52.7
R14281B-07 ------------------------------------------------------------
29.1
------------------------------------------------------------
23.0
------------------------------------------------------------
26.1
------------------------------------------------------------
61.1
---------------------------------------------------------------------------
0.5 0.1 0.5
------------------------------------------------------------
1.8 0.1 4.1
R14392-07 ------------------------------------------------------------
0.2 0.0 0.4
------------------------------------------------------------
1.5 0.1 1.4
---------------------------------------------------------------------------
25.3 0.3 0.0
------------------------------------------------------------
61.5 0.4 0.0
------------------------------------------------------------
10.2 0.6 0.0
------------------------------------------------------------
26.5 0.0 0.0
R14404-07 ------------------------------------------------------------
5.8
------------------------------------------------------------
1.2 0.0 1.1
------------------------------------------------------------
3.6 0.1 5.0
------------------------------------------------------------
2.6 0.0 1.2
---------------------------------------------------------------------------
R14420-07 0.4
---------------------------------------------------------------------------
0.8 0.1 1.4
R14423-07 ------------------------------------------------------------
0.6 0.0 0.9
---------------------------------------------------------------------------
(i) Some intersections from these holes have been released previously.
Qualified Person / Quality Control Notes
The drilling program was carried out by IAMGOLD employees, under
the supervision of Ms. Nicole Houle, Geologist - Doyon Division.
Ms. Houle is a qualified person (as defined by National Instrument
43-101) with more than 20 years of experience in mine and
exploration geology. IAMGOLD has established an Analytical Quality
Assurance Program to control and assure the analytical quality of
assays in its gold exploration. This program includes the
systematic addition of blank samples, reject and pulp duplicates
and internal material references (the "standards") to each batch of
samples sent for analysis. Blank samples are used to check for
possible contamination in laboratories, field duplicates allow the
quantification of overall precision while standards determine the
analytical accuracy. Samples were sent for assaying to Doyon's
internal laboratory as a primary laboratory. Samples were assayed
by fire-assay according to industry standards.
Cautionary Note to U.S. Investors
This press release includes certain "Forward-Looking Statements"
within the meaning of section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included herein, including without
limitation, statements regarding potential mineralization and
reserves, exploration results and future plans and objectives of
IAMGOLD, are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from IAMGOLD's expectations are disclosed under the
heading "Risk Factors" and elsewhere in IAMGOLD documents filed
from time-to-time with the Toronto Stock Exchange, the United
States Securities and Exchange Commission and other regulatory
authorities.
Please note:
This entire press release may be accessed via fax, e-mail,
IAMGOLD's website at www.iamgold.com and through Marketwire's
website at www.marketwire.com. All material information on IAMGOLD
can be found at www.sedar.com or at www.sec.gov.
Si vous desirez obtenir la version francaise de ce communique,
veuillez consulter le http://www.iamgold.com/fr/accueil.html.
Please note: Figure 1 is available on the Marketwire website at
the following link:
http://www.ccnmatthews.com/docs/1205fig1.pdf
Please note: Figure 2 is available on the Marketwire website at
the following link:
http://www.ccnmatthews.com/docs/1205fig2.pdf
Contacts: IAMGOLD Corporation Lisa Doddridge Director, Investor
Relations (416) 360-4710 or Toll-Free: 1-888-IMG-9999 (416)
360-4750 (FAX) Email: info@iamgold.com Website: www.iamgold.com
Renmark Financial Communications Inc. John Boidman (514) 939-3989
(514) 939-3717 (FAX) Email: jboidman@renmarkfinancial.com Renmark
Financial Communications Inc. Henri Perron (514) 939-3989 (514)
939-3717 (FAX) Email: hperron@renmarkfinancial.com Website:
www.renmarkfinancial.com
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