TORONTO, Feb. 5, 2015 /PRNewswire/ - IAMGOLD
Corporation ("IAMGOLD" or the "Company") today provided an
update from its ongoing exploration program at its optioned Monster
Lake project located 50 kilometres southwest of Chibougamau, Quebec, Canada. The company
is reporting assay results from a further 17 diamond drill holes
totaling 8,233 metres completed at the end of the 2014 exploration
program.
The assay results are provided in Table 1 below and include the
following highlights:
(A drill hole plan map and longitudinal section is attached to this
news release:
http://files.newswire.ca/282/NR_06-15_Monster_Lake.pdf.)
325 - Megane Zone:
- Drillhole ML14-130: 9.18 metres grading 46.33 g/t gold,
- Includes: 2.2 metres grading 182.8 g/t gold
- Drillhole ML14-131: 3.42 metres grading 18.68 g/t
gold
- Drillhole ML14-132: 7.1 metres grading 6.74 g/t
gold
Craig MacDougall, Senior Vice
President, Exploration for IAMGOLD, stated, "Our first exploration
program completed in 2014 on this project has delivered encouraging
results by successfully extending the high grade 325 – Megane zone
at depth below previous drilling where it remains open. In
addition our exploration program has identified several new
gold-bearing structures and a number of target areas for further
exploration."
During 2014, the Company conducted a multi-phase diamond
drilling program totaling 12,761 metres. This news release
reports the assay results of the final 17 of the 26 drill holes in
the program. The 2014 drilling program was designed to test
the direct down-dip and lateral extensions of the 325-Megane
mineralized zone, as well as areas along strike within the
interpreted structural corridor referred to as the Monster Lake
Shear Zone ("MLSZ").
Concurrent with the 2014 drilling program, exploration
activities also included data compilation and processing, a ground
geophysical survey, geological mapping and selected outcrop
stripping and sampling. Highlights of this work include the
discovery of several new surface gold showings thought to represent
a possible extension of the MLSZ located along the west limb of a
prominent fold. Results from surface channel sampling of outcrops
exposed in shallow trenches cut perpendicular to the observed
trend, include: 1.25 metres grading 16.3 g/t Au, 0.30 metres
grading 4.53 g/t Au and 0.60 metres grading 2.09 g/t Au in Trench
7; and 1.0 metres grading 2.83 g/t Au and 1.0 metre grading 2.09
g/t Au in Trench 9. These new showings have not been previously
drill tested and represent priority targets for follow up.
Next Steps
In 2015, an initial 5,000 metre, winter
diamond drilling program is planned which is designed to test
selected target areas along the main MLSZ structure to take
advantage of the winter access conditions. Further drilling is also
planned on the 325-Megane zone to test the continuation of lateral
and down-plunge extensions. Drilling is expected to commence
in the coming weeks.
About the Monster Lake Project
The Monster Lake
project is underlain by Archean volcanic rocks of the Obatogamau
Formation and is traversed by an important deformation corridor and
associated gold-bearing mineralized structures. Historical drilling
and recent success by TomaGold have identified at least a
four kilometre long structural corridor along which
most of the known gold occurrences discovered to date on the
property are associated, including the 325-Megane Zone.
Pursuant to an earn-in agreement finalized with TomaGold
Corporation, IAMGOLD may earn a 50% interest in each of the Monster
Lake, Winchester and Lac à l'Eau Jaune properties, collectively
referred to as the Monster Lake Project, by completing scheduled
cash payments and exploration expenditures totaling US$17.6 million over five and half years.
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 "Qualified Person" responsible for the supervision of the
preparation and review of this information is Marie-France Bugnon, P. Geo., General Manager
Exploration. Marie-France 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 Qualified person has verified the
data disclosed, and data underlying the information or opinions
contained herein.
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 (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 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 the AGAT Laboratory
prep lab facility in Val-d'Or,
Québec. Samples are coarse crushed to a -10 mesh and then a
1000 gram split is pulverized to 95% passing -150 mesh.
Analytical pulps are forwarded for analysis at the AGAT
Laboratories (ISO / IEC 17025 Certified by the Standards Council of
Canada) in Mississauga, Ontario. Samples are analyzed
using a standard fire assay with a 50 gram charge with an Atomic
Absorption (AA) finish. For samples that return assay values
over 5.0 grams per tonne (g/t), another pulp is taken and fire
assayed with a gravimetric finish. Core samples showing
visible gold or samples which have returned values greater than
10.0 g/t are re-analyzed by pulp metallic analysis. IAMGOLD
inserts blanks and certified reference standard in the sample
sequence for quality control.
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
Monster Lake
Project Drilling Final Results - 2014 Fall Drilling
program
|
Hole No.
|
UTM NAD83
Zone18
|
AZ
|
DIP
|
EOH
|
from
|
To
|
Interval
|
True Width
(2)
|
Au
(1)
|
NOTE
|
|
Easting
|
Northing
|
Elevation
|
|
|
(m)
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
|
ML-14-117
|
5488738.03
|
520042.28
|
371.50
|
290
|
-50
|
333.00
|
76.21
|
80.76
|
4.55
|
3.94
|
0.72
|
Monster Lake Shear
Zone
|
Including(3)
|
|
|
|
|
|
|
76.32
|
77.05
|
0.73
|
0.63
|
2.35
|
|
ML-14-118
|
5488443.87
|
520340.18
|
373.83
|
295
|
-60
|
738.00
|
27.00
|
27.95
|
0.95
|
0.82
|
1.36
|
|
|
|
|
|
|
|
|
50.54
|
52.72
|
2.18
|
1.89
|
NSR
|
Upper Shear
Zone
|
|
|
|
|
|
|
|
500.15
|
501.39
|
1.24
|
1.07
|
1.13
|
Monster Lake Shear
Zone
|
|
|
|
|
|
|
|
505.20
|
506.35
|
1.15
|
1.00
|
2.12
|
|
|
|
|
|
|
|
|
510.50
|
514.70
|
4.20
|
3.64
|
3.15
|
|
Including(3)
|
|
|
|
|
|
|
511.50
|
512.50
|
1.00
|
0.87
|
6.53
|
|
|
|
|
|
|
|
|
668.40
|
669.40
|
1.00
|
0.87
|
4.82
|
Lower Shear
Zone
|
ML-14-119
|
5488799.15
|
520039.67
|
371.82
|
286
|
-50
|
408.00
|
No significant
results
|
|
|
|
|
ML-14-120
|
5488443.75
|
520340.43
|
373.92
|
293
|
-68.3
|
672.00
|
No significant
results
|
|
|
|
|
ML-14-121
|
5489072.49
|
520083.07
|
373.28
|
255
|
-55
|
252.00
|
No significant
results
|
|
|
|
|
ML-14-122
|
5489214.82
|
519809.72
|
370.15
|
204
|
-52.3
|
201.00
|
23.75
|
24.40
|
0.65
|
0.56
|
8.78
|
Monster Lake Shear
Zone
|
ML-14-123
|
5489183.24
|
519744.74
|
369.31
|
197
|
-49.1
|
258.00
|
No significant
results
|
|
|
|
|
ML-14-124
|
5489546.44
|
520711.69
|
375.59
|
313
|
-61
|
273.00
|
210.00
|
213.00
|
3.00
|
2.60
|
0.60
|
Annie Zone
|
ML-14-125
|
5488225.62
|
520321.04
|
371.96
|
285
|
-60
|
723.00
|
90.50
|
91.50
|
1.00
|
0.87
|
1.40
|
Upper Shear
Zone
|
|
|
|
|
|
|
|
546.60
|
564.40
|
17.80
|
15.41
|
NSR
|
Monster Lake Shear
Zone
|
|
|
|
|
|
|
|
701.15
|
702.96
|
1.81
|
1.57
|
0.84
|
Lower Shear
Zone
|
ML-14-126
|
5489588.26
|
520747.47
|
376.76
|
315
|
-60
|
249.00
|
No significant
results
|
|
|
|
Annie
Zone
|
ML-14-127
|
5487293.76
|
519595.35
|
366.62
|
275
|
-50
|
474.00
|
No significant
results
|
|
|
|
|
ML-14-128
|
5488379.43
|
520295.65
|
372.44
|
293
|
-65
|
651.00
|
509.73
|
512.90
|
3.17
|
2.75
|
0.80
|
Monster Lake Shear
Zone
|
ML-14-129
|
5487194.75
|
519617.14
|
366.29
|
275
|
-50
|
405.00
|
No significant
results
|
|
|
|
|
ML-14-130
|
5488328.00
|
520314.00
|
370.00
|
294
|
-51
|
715.00
|
52.00
|
53.00
|
1.00
|
0.87
|
1.14
|
Upper Shear
Zone
|
|
|
|
|
|
|
|
97.65
|
98.00
|
0.35
|
0.30
|
3.38
|
|
|
|
|
|
|
|
|
200.00
|
201.00
|
1.00
|
0.87
|
1.29
|
|
|
|
|
|
|
|
|
477.00
|
487.60
|
10.60
|
9.18
|
46.33
|
325-Megane & M.L.
Shear Zone
|
Including(3)
|
|
|
|
|
|
|
480.10
|
482.64
|
2.54
|
2.20
|
182.80
|
|
|
|
|
|
|
|
|
489.70
|
491.00
|
1.30
|
1.13
|
1.46
|
Lower Shear
Zone
|
ML-14-131
|
5488222.00
|
520320.00
|
370.00
|
291
|
-42.5
|
613.00
|
74.00
|
81.00
|
7.00
|
6.06
|
NSR
|
Upper Shear
Zone
|
|
|
|
|
|
|
|
491.55
|
495.50
|
3.95
|
3.42
|
18.68
|
325-Megane & M.L.
Shear Zone
|
Including(3)
|
|
|
|
|
|
|
492.05
|
494.84
|
2.79
|
2.42
|
25.00
|
|
|
|
|
|
|
|
|
583.50
|
584.78
|
1.28
|
1.11
|
1.58
|
Lower Shear
Zone
|
ML-14-132
|
5488443.00
|
520340.00
|
370.00
|
300
|
-49
|
649.00
|
435.38
|
435.95
|
0.57
|
0.49
|
2.05
|
325-Megane & M.L.
Shear Zone
|
|
|
|
|
|
|
|
439.80
|
448.00
|
8.20
|
7.10
|
6.74
|
|
Including(3)
|
|
|
|
|
|
|
442.60
|
443.45
|
0.85
|
0.74
|
21.65
|
|
And
including3)
|
|
|
|
|
|
|
446.50
|
448.00
|
1.50
|
1.30
|
16.11
|
|
|
|
|
|
|
|
|
555.40
|
556.40
|
1.00
|
0.87
|
1.96
|
Lower Shear
Zone
|
ML-14-133
|
5488169.00
|
520302.00
|
370.00
|
262
|
-57
|
619.00
|
150.00
|
166.00
|
16.00
|
13.86
|
NSR
|
Upper Shear
Zone
|
|
|
|
|
|
|
|
597.05
|
598.90
|
1.85
|
1.60
|
0.90
|
Monster Lake Shear
Zone
|
Notes:
1. Drill hole intercepts are calculated using a 0.50
g/t Au assay cut-off.
2. True widths of intersections are approximately 85-90% of
the core interval.
3. Assays are reported uncut but high grade sub-intervals are
highlighted.
SOURCE IAMGOLD Corporation