IAMGOLD provides exploration update for the Boto Gold Project,
Senegal, West Africa
TSX: IMG NYSE: IAG
TORONTO, Nov. 5, 2012 /PRNewswire/ - IAMGOLD
Corporation ("IAMGOLD" or the "Company") announced today an
exploration update for its 100% owned Boto Gold Project in eastern
Senegal, West Africa. The Company is reporting
assay results for 44 drill holes completed from December 2011 to July
2012.
Results from the 44 drill holes are provided in Tables 1 to 3,
and include the following:
Boto 2 prospect;
- Drill-hole DBDD-2078 : 58 metres grading 2.58 g/t
gold
- Drill-hole DBDD-2086 : 33 metres grading 3.04 g/t
gold
- Drill-hole DBDD-2116 : 49 metres grading 2.63 g/t
gold
- Drill-hole DBDD-2119 : 74 metres grading 1.80 g/t
gold
Boto 4 prospect;
- Drill-hole DBDD-2087 : 35 metres grading 2.65 g/t
gold
- Drill-hole DBDD-2090 : 41 metres grading 2.29 g/t
gold
Boto 6 prospect;
- Drill-hole DBDD-2098 : 17 metres grading 3.17 g/t
gold
- Drill-hole DBDD-2099 : 67 metres grading 1.18 g/t
gold
Craig MacDougall, Senior Vice
President, Exploration, stated, "We are very encouraged with the
results of the 2012 drill program. They demonstrate good grades and
confirm continuity at several of the zones discovered in previous
exploration campaigns. Geological modeling is in progress to
assess the resource potential of the zones drilled. We will also
evaluate the exploration potential for further extensions."
The drilling program has focused on the delineation of the Boto
2, 4 and 6 prospects which define a mineralized trend over a 4
kilometre strike length. Drilling has intersected wide
intervals of hydrothermal alteration and sulphide mineralization in
variably brecciated metasedimentary host rocks.
Next Steps
Drilling was suspended in late July due to the annual rainy
season and will resume in mid-November. The objective of further
drilling is to: 1) infill the current drill spacing to confirm
continuity of the geological model in advance of a resource
estimate, and 2) expand existing mineralized zones with step out
drill holes along strike and at depth.
Table 1
Boto Gold Project
Drilling Results - Boto 2 Prospect |
Hole # |
UTM WGS 84 Zone 29 |
AZ |
DIP |
EOH |
From |
To |
Length |
Gold |
|
Easting |
Northing |
Elevation |
|
|
(m) |
(m) |
(m) |
(m) |
(g/t) |
DBDD-2075 |
241871 |
1378980 |
165 |
115 |
-60 |
284 |
131 |
197 |
66 |
1.53 |
DBDD-2076 |
241916 |
1378959 |
164 |
115 |
-60 |
250 |
96 |
104 |
8 |
1.88 |
|
|
|
|
|
|
|
110 |
119 |
9 |
2.09 |
|
|
|
|
|
|
|
133 |
157 |
24 |
0.88 |
DBDD-2077 |
241961 |
1378938 |
163 |
115 |
-60 |
250 |
46 |
85 |
39 |
0.9 |
|
|
|
|
|
|
|
99 |
113 |
14 |
1.17 |
|
|
|
|
|
|
|
227 |
236 |
9 |
1.63 |
DBDD-2078 |
242007 |
1378917 |
162 |
115 |
-60 |
251 |
16 |
74 |
58 |
2.58 |
|
|
|
|
|
|
|
80 |
82 |
2 |
1.43 |
|
|
|
|
|
|
|
119 |
121 |
2 |
1.83 |
|
|
|
|
|
|
|
221 |
232 |
11 |
1.15 |
DBDD-2079 |
241964 |
1378826 |
157 |
115 |
-60 |
251 |
152 |
155 |
3 |
1.19 |
|
|
|
|
|
|
|
194 |
197 |
3 |
2.85 |
|
|
|
|
|
|
|
215 |
236 |
21 |
0.72 |
DBDD-2080 |
241919 |
1378847 |
160 |
115 |
-60 |
250 |
170 |
172 |
2 |
8.78 |
|
|
|
|
|
|
|
240 |
242 |
2 |
1.5 |
DBDD-2081 |
241874 |
1378868 |
162 |
115 |
-60 |
300 |
162 |
168 |
6 |
1.33 |
DBDD-2082 |
241828 |
1378890 |
164 |
115 |
-60 |
250 |
153 |
155 |
2 |
2.19 |
DBDD-2083 |
241922 |
1378736 |
153 |
115 |
-60 |
251 |
93 |
95 |
2 |
1.53 |
|
|
|
|
|
|
|
124 |
148 |
24 |
1.23 |
DBDD-2084 |
241877 |
1378757 |
157 |
115 |
-60 |
250 |
136 |
143 |
7 |
1.12 |
|
|
|
|
|
|
|
214 |
216 |
2 |
2.99 |
DBDD-2085 |
241908 |
1379183 |
165 |
115 |
-60 |
254 |
59 |
94 |
35 |
3.89 |
Including* |
|
|
|
|
|
|
64 |
67 |
3 |
19.18 |
|
|
|
|
|
|
|
104 |
106 |
2 |
1.35 |
|
|
|
|
|
|
|
166 |
171 |
5 |
2.36 |
|
|
|
|
|
|
|
222 |
241 |
19 |
1.44 |
DBDD-2086 |
241954 |
1379162 |
165 |
115 |
-60 |
251 |
33 |
66 |
33 |
3.04 |
Including* |
|
|
|
|
|
|
45 |
47 |
2 |
13.63 |
|
|
|
|
|
|
|
130 |
134 |
4 |
1.78 |
|
|
|
|
|
|
|
181 |
183 |
2 |
2.38 |
|
|
|
|
|
|
|
196 |
218 |
22 |
1.39 |
DBDD-2103 |
241825 |
1379001 |
165 |
115 |
-60 |
250 |
160 |
163 |
3 |
1.14 |
|
|
|
|
|
|
|
203 |
222 |
19 |
0.92 |
DBDD-2104 |
241780 |
1379022 |
165 |
115 |
-60 |
301 |
220 |
236 |
16 |
1.46 |
|
|
|
|
|
|
|
244 |
249 |
5 |
1.74 |
|
|
|
|
|
|
|
63 |
66 |
3 |
1.78 |
DBDD-2105 |
241801 |
1379068 |
165 |
115 |
-60 |
300 |
189 |
196 |
7 |
2.81 |
|
|
|
|
|
|
|
210 |
218 |
8 |
1.04 |
|
|
|
|
|
|
|
224 |
248 |
24 |
1.29 |
DBDD-2106 |
241846 |
1379047 |
165 |
115 |
-60 |
246 |
169 |
172 |
3 |
2.52 |
|
|
|
|
|
|
|
179 |
190 |
11 |
0.75 |
|
|
|
|
|
|
|
199 |
219 |
20 |
2.66 |
DBDD-2107 |
241892 |
1379026 |
165 |
115 |
-60 |
250 |
124 |
144 |
20 |
1.32 |
|
|
|
|
|
|
|
164 |
189 |
25 |
0.93 |
DBDD-2108 |
241937 |
1379004 |
164 |
115 |
-60 |
250 |
44 |
96 |
52 |
1.26 |
|
|
|
|
|
|
|
103 |
132 |
29 |
1.44 |
|
|
|
|
|
|
|
143 |
155 |
12 |
1.13 |
DBDD-2109 |
241982 |
1378983 |
163 |
115 |
-60 |
251 |
22 |
41 |
19 |
6.5 |
Including* |
|
|
|
|
|
|
35 |
39 |
4 |
18.98 |
|
|
|
|
|
|
|
55 |
79 |
24 |
1.84 |
|
|
|
|
|
|
|
100 |
110 |
10 |
1.39 |
|
|
|
|
|
|
|
234 |
241 |
7 |
1.81 |
DBDD-2110 |
242028 |
1378962 |
162 |
115 |
-60 |
250 |
98 |
106 |
8 |
3.16 |
|
|
|
|
|
|
|
121 |
128 |
7 |
1.3 |
|
|
|
|
|
|
|
183 |
194 |
11 |
1.7 |
DBDD-2111 |
241804 |
1378956 |
165 |
115 |
-60 |
251 |
No significant
intersection |
DBDD-2112 |
241850 |
1378935 |
165 |
115 |
-60 |
250 |
149 |
154 |
5 |
1.27 |
|
|
|
|
|
|
|
179 |
198 |
19 |
1.53 |
DBDD-2113 |
241895 |
1378914 |
163 |
115 |
-60 |
250 |
228 |
233 |
5 |
1.33 |
DBDD-2114 |
241940 |
1378893 |
162 |
115 |
-60 |
250 |
37 |
39 |
2 |
6.79 |
|
|
|
|
|
|
|
66 |
70 |
4 |
2.36 |
|
|
|
|
|
|
|
80 |
103 |
23 |
1.35 |
|
|
|
|
|
|
|
113 |
122 |
9 |
1.02 |
|
|
|
|
|
|
|
168 |
171 |
3 |
2.02 |
DBDD-2115 |
241985 |
1378872 |
160 |
115 |
-60 |
251 |
13 |
54 |
41 |
1.6 |
|
|
|
|
|
|
|
67 |
78 |
11 |
0.98 |
|
|
|
|
|
|
|
187 |
189 |
2 |
3.51 |
DBDD-2116 |
241913 |
1379071 |
166 |
115 |
-60 |
301 |
79 |
128 |
49 |
2.63 |
Including* |
|
|
|
|
|
|
123 |
125 |
2 |
20.35 |
|
|
|
|
|
|
|
141 |
191 |
50 |
1.28 |
DBDD-2117 |
241868 |
1379092 |
166 |
115 |
-60 |
250 |
137 |
149 |
12 |
0.62 |
|
|
|
|
|
|
|
156 |
181 |
25 |
1.03 |
|
|
|
|
|
|
|
194 |
215 |
21 |
1.13 |
|
|
|
|
|
|
|
221 |
232 |
11 |
0.51 |
DBDD-2118 |
241822 |
1379113 |
166 |
115 |
-60 |
300 |
182 |
241 |
59 |
0.94 |
DBDD-2119 |
241777 |
1379134 |
166 |
115 |
-60 |
309 |
221 |
223 |
2 |
1.02 |
|
|
|
|
|
|
|
232 |
306 |
74 |
1.8 |
Table 2
Boto Gold Project
Drilling Results - Boto 4 Prospect |
Hole # |
UTM WGS 84 Zone 29 |
AZ |
DIP |
EOH |
From |
To |
Length |
Gold |
|
Easting |
Northing |
Elevation |
|
|
(m) |
(m) |
(m) |
(m) |
(g/t) |
DBDD-2087 |
241847 |
1377616 |
131 |
115 |
-60 |
300 |
104 |
139 |
35 |
2.65 |
Including* |
|
|
|
|
|
|
109 |
114 |
5 |
14.52 |
|
|
|
|
|
|
|
186 |
198 |
12 |
0.76 |
|
|
|
|
|
|
|
267 |
270 |
3 |
3.11 |
|
|
|
|
|
|
|
296 |
298 |
2 |
1.14 |
DBDD-2088 |
241893 |
1377594 |
131 |
115 |
-60 |
250 |
65 |
72 |
7 |
2.07 |
|
|
|
|
|
|
|
84 |
88 |
4 |
1.21 |
|
|
|
|
|
|
|
103 |
107 |
4 |
1.37 |
|
|
|
|
|
|
|
125 |
133 |
8 |
3.31 |
|
|
|
|
|
|
|
194 |
196 |
2 |
2.58 |
|
|
|
|
|
|
|
247 |
250 |
3 |
2.46 |
DBDD-2089 |
241939 |
1377573 |
131 |
115 |
-60 |
251 |
21 |
31 |
10 |
1.2 |
|
|
|
|
|
|
|
101 |
111 |
10 |
0.65 |
|
|
|
|
|
|
|
192 |
204 |
12 |
2.25 |
DBDD-2090 |
241866 |
1377490 |
131 |
115 |
-60 |
251 |
70 |
75 |
5 |
1.3 |
|
|
|
|
|
|
|
116 |
130 |
14 |
0.95 |
|
|
|
|
|
|
|
137 |
178 |
41 |
2.29 |
|
|
|
|
|
|
|
206 |
220 |
14 |
1.37 |
DBDD-2091 |
241793 |
1377406 |
132 |
115 |
-60 |
300 |
143 |
160 |
17 |
1.83 |
|
|
|
|
|
|
|
224 |
229 |
5 |
2.44 |
|
|
|
|
|
|
|
254 |
265 |
11 |
0.89 |
|
|
|
|
|
|
|
87 |
90 |
3 |
1.25 |
DBDD-2092 |
241839 |
1377385 |
133 |
115 |
-60 |
250 |
192 |
219 |
27 |
1.71 |
|
|
|
|
|
|
|
47 |
57 |
10 |
0.67 |
|
|
|
|
|
|
|
72 |
75 |
3 |
1.19 |
|
|
|
|
|
|
|
140 |
145 |
5 |
1.09 |
|
|
|
|
|
|
|
151 |
159 |
8 |
2.55 |
|
|
|
|
|
|
|
176 |
178 |
2 |
1 |
DBDD-2094 |
241811 |
1377280 |
134 |
115 |
-60 |
250 |
118 |
139 |
21 |
1.08 |
|
|
|
|
|
|
|
179 |
183 |
4 |
1.27 |
DBDD-2095 |
241740 |
1377196 |
135 |
115 |
-60 |
300 |
133 |
155 |
22 |
1.29 |
|
|
|
|
|
|
|
164 |
171 |
7 |
1.36 |
DBDD-2096 |
241784 |
1377176 |
135 |
115 |
-60 |
250 |
109 |
139 |
30 |
1 |
DBDD-2097 |
241828 |
1377155 |
135 |
115 |
-60 |
250 |
49 |
83 |
34 |
1.15 |
|
|
|
|
|
|
|
115 |
127 |
12 |
0.6 |
|
|
|
|
|
|
|
205 |
213 |
8 |
1.51 |
|
|
|
|
|
|
|
240 |
251 |
11 |
0.52 |
Table 3
Boto Gold Project
Drilling Results - Boto 6 Prospect |
Hole # |
UTM WGS 84 Zone 29 |
AZ |
DIP |
EOH |
From |
To |
Length |
Gold |
|
Easting |
Northing |
Elevation |
|
|
(m) |
(m) |
(m) |
(m) |
(g/t) |
DBDD-2098 |
241454 |
1375267 |
159 |
115 |
-60 |
300 |
147 |
164 |
17 |
3.17 |
|
|
|
|
|
|
|
178 |
276 |
98 |
0.82 |
DBDD-2099 |
241495 |
1375248 |
159 |
115 |
-60 |
251 |
128 |
195 |
67 |
1.18 |
DBDD-2100 |
241576 |
1375210 |
154 |
115 |
-60 |
200 |
65 |
99 |
34 |
0.97 |
|
|
|
|
|
|
|
113 |
124 |
11 |
0.76 |
DBDD-2101 |
241467 |
1375200 |
159 |
115 |
-60 |
251 |
162 |
165 |
3 |
1.44 |
|
|
|
|
|
|
|
186 |
188 |
2 |
1.6 |
|
|
|
|
|
|
|
196 |
198 |
2 |
1.51 |
DBDD-2102 |
241549 |
1375161 |
151 |
115 |
-60 |
199.5 |
38 |
47 |
9 |
1.49 |
|
|
|
|
|
|
|
127 |
131 |
4 |
1.25 |
- Significant drill hole intercepts are calculated using a
minimum down-hole length of 2 meters, a cut-off grade of 0.5 g/t
Au, up to 5 metres of internal dilution and are uncapped.
- *Higher grade sub-intervals are calculated using the
same parameters but at a cut-off grade of 8.0 g/t Au.
- The true widths of intersections are unknown at this time, but
are interpreted to approximate the reported down-hole lengths.
To view "Figure 1: Drill Hole Plan Map", please click on
http://files.newswire.ca/396/BotoDrillHoleMap.pdf
The Boto project comprises 236 square kilometres of exploration
licenses located in eastern Senegal along the Senegal-Mali
border. The geological setting of the project area is similar
to the world class Sadiola and Loulo gold districts in adjacent
Mali, being underlain by highly
prospective, Birimian-aged metasedimentary, volcanic and intrusive
rocks -along a seven kilometre strike length of the Senegal-Mali
Shear Zone.
Technical Information and Quality Control Notes
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 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 project site.
Half of the core is retained at the site for reference purposes.
Sample intervals are generally 1 metre in length. Samples are
analyzed at the ALS Chemex Analytical Laboratory in Bamako, Mali, using a standard fire assay with
a 50 gram charge with an Atomic Absorption (AA) finish.
Qualified Persons:
The information in this release was prepared under the
supervision of Craig MacDougall,
P.Geo., Senior Vice President, Exploration for IAMGOLD. Mr.
MacDougall is a Qualified Person as defined by National Instrument
43-101.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission limits
disclosure for U.S. reporting purposes to mineral deposits that a
company can economically and legally extract or produce.
IAMGOLD uses certain terms in this presentation, such as
"measured," "indicated," or "inferred," which may not be consistent
with the reserve definitions established by the SEC. U.S.
investors are urged to consider closely the disclosure in the
IAMGOLD Annual Reports on Forms 40-F. You can review and
obtain copies of these filings from the SEC's website at
http://www.sec.gov/edgar.shtml or by contacting the Investor
Relations department.
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 and niobium 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 "may", "will", "should",
"continue", "expect", "anticipate", "outlook", "guidance",
"estimate", "believe", "intend", "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:
changes in the global prices for gold, niobium, copper, silver or
certain other commodities (such as diesel, aluminum and
electricity); changes in U.S. dollar and other currency exchange
rates, interest rates or gold lease rates; risks arising from
holding derivative instruments; the level of liquidity and capital
resources; access to capital markets, financing and interest rates;
mining tax regimes; ability to successfully integrate acquired
assets; legislative, political or economic developments in the
jurisdictions in which the Company carries on business; operating
or technical difficulties in connection with mining or development
activities; laws and regulations governing the protection of the
environment; employee relations; availability and increasing costs
associated with mining inputs and labour; the speculative nature of
exploration and development, including the risks of diminishing
quantities or grades of reserves; adverse changes in the Company's
credit rating; contests over title to properties, particularly
title to undeveloped properties; and the risks involved in the
exploration, development and mining business. With respect to
development projects, IAMGOLD's ability to sustain or increase its
present levels of gold production is dependent in part on the
success of its projects. Risks and unknowns inherent in all
projects include the inaccuracy of estimated reserves and
resources, metallurgical recoveries, capital and operating costs of
such projects, and the future prices for the relevant
minerals. Development projects have no operating history upon
which to base estimates of future cash flows. The capital
expenditures and time required to develop new mines or other
projects are considerable, and changes in costs or construction
schedules can affect project economics. Actual costs and
economic returns may differ materially from IAMGOLD's estimates or
IAMGOLD could fail to obtain the governmental approvals necessary
for the operation of a project; in either case, the project may not
proceed, either on its original timing or at all.
About IAMGOLD
IAMGOLD (www.iamgold.com) is a leading mid-tier gold mining
company producing approximately one million ounces annually from
five gold mines (including current joint ventures) on three
continents. In the Canadian province of Québec, the Company also
operates Niobec Inc., which produces more than 4.5 million
kilograms of niobium annually, and owns a rare earth element
resource close to its niobium mine. IAMGOLD is uniquely positioned
with a strong financial position and extensive management and
operational expertise. To grow from this strong base, IAMGOLD
has a pipeline of development and exploration projects and
continues to assess accretive acquisition opportunities.
IAMGOLD's growth plans are strategically focused in certain regions
in Canada, select countries in
South America and Africa.
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/Home/default.aspx.
SOURCE IAMGOLD Corporation