TORONTO, Feb. 3, 2015 /CNW/ - IAMGOLD
Corporation ("IAMGOLD" or the "Company") today announced
additional drilling results from its 100% owned Boto Gold Project
in eastern Senegal, West Africa. The Company is reporting assay
results from a further 16 infill diamond drill holes totaling 5,085
metres as part of a 15,824 metre program completed during the 2014
exploration program.
The assay results are provided in Table 1 and include the
following highlights:
(A drill hole plan map is attached to this news release.)
Malikoundi prospect:
- Drillhole DBDD-2218: 9 metres grading 10.5 g/t
gold,
including 5 metres grading 17.55 g/t gold
44 metres grading 4.46 g/t
gold,
including 6 metres grading 14.46 g/t gold
30
metres grading 3.82 g/t gold,
Including 4 metres grading 12.64 g/t gold
- Drillhole DBDD-2225: 25 metres grading
2.87 g/t
gold,
including
3 metres grading 14.44 g/t gold
23 metres grading 3.50 g/t
gold,
including 5 metres grading 11.34 g/t gold
- Drillhole DBDD-2226: 40 metres grading
3.24 g/t gold
Including 11 metres grading 8.15 g/t
gold
- Drillhole DBDD-2227: 61 metres grading
2.91 g/t gold
- Drillhole DBDD-2232: 41 metres grading
2.74 g/t gold
including
5 metres grading 12.42 g/t gold
Craig MacDougall, Senior Vice
President, Exploration for IAMGOLD, stated, "We are delighted to
see such strong intervals of gold mineralization exhibiting high
grades over significant thickness from the core of the Malikoundi
deposit. These intersections continue to confirm our
confidence in the quality of this discovery and we expect they will
positively impact future resource estimates."
BOTO PROJECT, SENEGAL
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 prolific 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.
The project hosts an indicated resource of 22 million tonnes
averaging 1.62 grams of gold per tonne for 1.14 million ounces and
an inferred resource of 1.9 million tonnes averaging 1.35 grams of
gold per tonne for 81,000 ounces (see press release dated
July 29, 2013). A significant
percentage of the total resources are derived from the newly
discovered Malikoundi deposit which is the largest deposit
discovered to date on the property. An updated resource estimate
incorporating drilling results previously reported in 2014 is
anticipated for inclusion in the Company's December 31st 2014 Year End Reserve
and Resource statement due for release in February 2015.
Next Steps
The Company's approved 2015 exploration program for the Boto
project anticipates the completion of approximately 12,000 metres
of diamond drilling to complete the 50X50m infill delineation
campaign initiated in 2014. The drilling campaign commenced in
January with three drills rigs in operation and is expected to be
completed early in the second quarter. The results will be
incorporated in a further resource estimate scheduled for
completion in July to support ongoing technical studies.
Technical Information and Quality Control Notes
The drilling results for the Boto Project in Senegal contained in this news release have
been prepared in accordance with National Instrument 43-101
Standards of Disclosure for Mineral Projects. 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 prepared at the Veritas
Preparation Laboratory in Kedougou, Senegal and analyzed using a standard fire
assay with a 50 gram charge with an Atomic Absorption (AA) finish
at the Veritas Analytical Laboratory in Abidjan, Ivory Coast.
Qualified Persons
The information in this news 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.
Notes to Investors Regarding the Use of Resources
Cautionary Note to Investors Concerning Estimates of
Indicated and Inferred Resources
This news release uses the term "indicated resources". We advise
investors that while that term is recognized and required by
Canadian regulations, the United States Securities and Exchange
Commission (the "SEC") does not recognize it. Investors are
cautioned not to assume that any part or all of mineral deposits in
this category will ever be converted into reserves.
This news release also uses the term "inferred resources". We
advise investors that while this term is recognized and required by
Canadian regulations, the SEC does not recognize it. "Inferred
resources" have a great amount of uncertainty as to their
existence, and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an
inferred mineral resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of feasibility or pre-feasibility
studies, except in rare cases. Investors are cautioned not to
assume that part or all of an inferred resource exists, or is
economically or legally mineable.
Cautionary Note to U.S. Investors
The SEC 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 news
release, 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.
The Canadian Securities Administrators' National Instrument
43-101 ("NI 43-101") requires mining companies to disclose reserves
and resources using the subcategories of "proven" reserves,
"probable" reserves, "measured" resources, "indicated" resources
and "inferred" resources. Mineral resources that are not mineral
reserves do not demonstrate economic viability.
A mineral reserve is the economically mineable part of a
measured or indicated mineral resource demonstrated by at least a
preliminary feasibility study. This study must include adequate
information on mining, processing, metallurgical, economic and
other relevant factors that demonstrate, at the time of reporting,
that economic extraction can be justified. A mineral reserve
includes diluting materials and allows for losses that may occur
when the material is mined. A proven mineral reserve is the
economically mineable part of a measured mineral resource
demonstrated by at least a preliminary feasibility study. A
probable mineral reserve is the economically mineable part of an
indicated, and in some circumstances, a measured mineral resource
demonstrated by at least a preliminary feasibility study.
A mineral resource is a concentration or occurrence of
natural, solid, inorganic material, or natural, solid fossilized
organic material, including base and precious metals in or on the
Earth's crust in such form and quantity and of such a grade or
quality that it has reasonable prospects for economic extraction.
The location, quantity, grade, geological characteristics and
continuity of a mineral resource are known, estimated or
interpreted from specific geological evidence and knowledge. A
measured mineral resource is that part of a mineral resource for
which quantity, grade or quality, densities, shape and physical
characteristics are so well established that they can be estimated
with confidence sufficient to allow the appropriate application of
technical and economic parameters, to support production planning
and evaluation of the economic viability of the deposit. The
estimate is based on detailed and reliable exploration, sampling
and testing information gathered through appropriate techniques
from locations such as outcrops, trenches, pits, workings and drill
holes that are spaced closely enough to confirm both geological and
grade continuity. An indicated mineral resource is that part of a
mineral resource for which quantity, grade or quality, densities,
shape and physical characteristics can be estimated with a level of
confidence sufficient to allow the appropriate application of
technical and economic parameters to support mine planning and
evaluation of the economic viability of the deposit. The estimate
is based on detailed and reliable exploration and testing
information gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes that are
spaced closely enough for geological and grade continuity to be
reasonably assumed. An inferred mineral resource is that part of a
mineral resource for which quantity and grade or quality can be
estimated on the basis of geological evidence and limited sampling
and reasonably assumed, but not verified, geological and grade
continuity. The estimate is based on limited information and
sampling gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes. Mineral
resources which are not mineral reserves do not have demonstrated
economic viability. Investors are cautioned not to assume that part
or all of an inferred resource exists, or is economically or
legally mineable.
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",
"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,
failure to meet expected, estimated or planned gold and niobium
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 (including current joint ventures) on three
continents. A solid base of strategic assets in Canada, South
America and 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/Home/default.aspx.
Table 1: Boto
Project Diamond Drilling Results
|
Hole #
(DBDD-)
|
UTM
(WGS84_Zone29N)
|
Azimuth
|
Dip
|
Hole
Depth
|
From
|
To
|
Length
|
Grade
|
|
Easting
|
Northing
|
Elevation
|
(degrees)
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t Au)
|
2211
|
242300
|
1380600
|
162
|
90
|
-60
|
350
|
|
|
|
|
2212
|
243650
|
1380000
|
165
|
90
|
-60
|
300
|
|
|
|
|
2213
|
243800
|
1380000
|
165
|
90
|
-60
|
350
|
|
|
|
|
2215
|
241250
|
1379000
|
165
|
90
|
-60
|
350
|
|
|
|
|
2216
|
241931
|
1379650
|
164
|
115
|
-60
|
164
|
|
|
|
|
2217
|
241730
|
1379210
|
166
|
115
|
-60
|
400
|
273
|
300
|
27
|
0.78
|
|
|
|
|
|
|
|
316
|
345
|
29
|
1.35
|
|
|
|
|
|
|
|
367
|
377
|
10
|
0.57
|
2218
|
241775
|
1379188
|
166
|
115
|
-60
|
365
|
192
|
201
|
9
|
10.50
|
includes
|
|
|
|
|
|
|
195
|
200
|
5
|
17.55
|
|
|
|
|
|
|
|
207
|
251
|
44
|
4.46
|
includes
|
|
|
|
|
|
|
215
|
221
|
6
|
14.46
|
|
|
|
|
|
|
|
268
|
272
|
4
|
2.08
|
|
|
|
|
|
|
|
289
|
305
|
16
|
4.82
|
|
|
|
|
|
|
|
315
|
330
|
15
|
0.68
|
|
|
|
|
|
|
|
336
|
366
|
30
|
3.82
|
includes
|
|
|
|
|
|
|
349
|
353
|
4
|
12.64
|
2220
|
241866
|
1379146
|
166
|
115
|
-60
|
300
|
108
|
148
|
40
|
2.44
|
|
|
|
|
|
|
|
157
|
192
|
35
|
1.61
|
|
|
|
|
|
|
|
200
|
213
|
13
|
3.51
|
|
|
|
|
|
|
|
221
|
226
|
5
|
2.41
|
|
|
|
|
|
|
|
267
|
270
|
3
|
2.06
|
|
|
|
|
|
|
|
276
|
279
|
3
|
1.93
|
|
|
|
|
|
|
|
294
|
300
|
6
|
4.18
|
2221
|
241911
|
1379125
|
166
|
115
|
-60
|
270
|
60
|
64
|
4
|
2.31
|
|
|
|
|
|
|
|
70
|
92
|
22
|
2.70
|
|
|
|
|
|
|
|
113
|
121
|
8
|
1.15
|
|
|
|
|
|
|
|
221
|
224
|
3
|
2.05
|
|
|
|
|
|
|
|
234
|
240
|
6
|
3.21
|
|
|
|
|
|
|
|
254
|
268
|
14
|
0.64
|
2225
|
241772
|
1379300
|
162
|
115
|
-60
|
390.5
|
187
|
199
|
12
|
1.54
|
|
|
|
|
|
|
|
205
|
207
|
2
|
2.82
|
|
|
|
|
|
|
|
217
|
242
|
25
|
2.87
|
includes
|
|
|
|
|
|
|
238
|
241
|
3
|
14.44
|
|
|
|
|
|
|
|
282
|
284
|
2
|
3.31
|
|
|
|
|
|
|
|
319
|
322
|
3
|
1.67
|
|
|
|
|
|
|
|
367
|
390
|
23
|
3.50
|
includes
|
|
|
|
|
|
|
367
|
372
|
5
|
11.34
|
2226
|
241817
|
1379278
|
166
|
115
|
-60
|
355
|
111
|
121
|
10
|
0.76
|
|
|
|
|
|
|
|
134
|
146
|
12
|
1.48
|
|
|
|
|
|
|
|
159
|
199
|
40
|
3.24
|
includes
|
|
|
|
|
|
|
179
|
190
|
11
|
8.15
|
|
|
|
|
|
|
|
240
|
250
|
10
|
0.61
|
|
|
|
|
|
|
|
299
|
317
|
18
|
0.74
|
|
|
|
|
|
|
|
322
|
328
|
6
|
1.04
|
2227
|
241862
|
1379257
|
165
|
115
|
-60
|
300
|
85
|
146
|
61
|
2.91
|
includes
|
|
|
|
|
|
|
112
|
116
|
4
|
12.28
|
|
|
|
|
|
|
|
152
|
161
|
9
|
1.82
|
|
|
|
|
|
|
|
175
|
203
|
28
|
0.96
|
|
|
|
|
|
|
|
252
|
254
|
2
|
1.90
|
|
|
|
|
|
|
|
289
|
292
|
3
|
3.00
|
2228
|
241908
|
1379236
|
163
|
115
|
-60
|
260
|
47
|
67
|
20
|
2.48
|
2232
|
241771
|
1379411
|
166
|
115
|
-60
|
345
|
176
|
183
|
7
|
8.72
|
includes
|
|
|
|
|
|
|
180
|
182
|
2
|
15.51
|
|
|
|
|
|
|
|
206
|
247
|
41
|
2.74
|
Includes
|
|
|
|
|
|
|
239
|
244
|
5
|
12.42
|
2233
|
241815
|
1379389
|
165
|
115
|
-60
|
310
|
110
|
114
|
4
|
1.49
|
|
|
|
|
|
|
|
131
|
151
|
20
|
2.30
|
|
|
|
|
|
|
|
157
|
160
|
3
|
1.60
|
|
|
|
|
|
|
|
179
|
189
|
10
|
0.78
|
|
|
|
|
|
|
|
197
|
207
|
10
|
0.53
|
|
|
|
|
|
|
|
252
|
267
|
15
|
0.55
|
2234
|
241860
|
1379368
|
164
|
115
|
-60
|
275
|
61
|
63
|
2
|
4.07
|
|
|
|
|
|
|
|
72
|
85
|
13
|
3.36
|
includes
|
|
|
|
|
|
|
82
|
84
|
2
|
17.10
|
|
|
|
|
|
|
|
95
|
106
|
11
|
0.88
|
|
|
|
|
|
|
|
112
|
141
|
29
|
0.70
|
- Drill hole intercepts are calculated using a minimum down-hole
length of 2 meters, a cut-off grade of 0.5 g/t gold, a global assay
cap of 25 g/t gold and may include up to 5 metres of internal
dilution.
- Higher grade sub-intervals are reported for intervals equal to
or exceeding an 8.0 g/t gold cut-off grade and are calculated using
the same parameters as described above.
- The true widths of intersections are unknown at this time, but
are interpreted to approximate the reported downhole lengths.
- Only downhole intervals exceeding 10m are reported for drill
hole intercepts grading less than 1.0 g/t gold.
- Assay results for DBDD-2222, DBDD-2223, DBDD-2224, DBDD-2229,
DBDD-2230, DBDD-2231, DBDD-2235, DBDD-2236 and DBDD-2237 are
pending. Assay results for DBDD-2214 were reported in a news
release on October 20, 2014.
SOURCE IAMGOLD Corporation