TSX: IMG NYSE: IAG
TORONTO, July 20, 2015 /PRNewswire/ - 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 the final 26 infill diamond drill holes totaling 7,782
metres out of the 12,416 metres completed during the 2015
delineation drilling program.
The assay results are provided in Table 1 below, and include the
following highlights:
Malikoundi prospect:
|
|
· Drillhole
DBDD-2253:
|
25 metres grading
4.26 g/t gold
|
|
|
|
Including: 8 metres
grading 8.80 g/t gold
|
|
|
|
|
|
|
· Drillhole
DBDD-2255:
|
25 metres grading
3.07 g/t gold
|
|
|
|
|
|
|
· Drillhole
DBDD-2259:
|
32 metres grading
2.81 g/t gold
|
|
|
|
Including: 3 metres
grading 9.61 g/t gold
|
|
|
|
65 metres
grading 1.57 g/t gold
|
|
|
|
|
|
|
· Drillhole
DBDD-2269:
|
18 metres grading
4.96 g/t gold
|
|
|
|
Including: 4 metres
grading 17.15 g/t gold
|
|
|
|
|
|
|
· Drillhole
DBDD-2280:
|
36 metres grading
3.59 g/t gold
|
|
|
|
Including: 7 metres
grading 9.46 g/t gold
|
Craig MacDougall, Senior Vice
President, Exploration for IAMGOLD, stated, "With these final assay
results in hand, we are now working on updating the resource model
for use in ongoing technical studies. The drilling results
have confirmed continuity of mineralization often exhibiting high
grades over wide intervals within the core of the Malikoundi
deposit and importantly indicate that the deposit appears to remain
open at depth."
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 22.8 million tonnes
averaging 1.7 grams of gold per tonne for 1.23 million ounces and
an inferred resource of 10.96 million tonnes averaging 1.8 grams of
gold per tonne for 635,000 ounces (see news release dated
February 18, 2015). 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.
Next Steps
The Company has completed its planned 50x50
metre infill delineation drilling campaign initiated in 2014 with
the completion of the 12,416 metres of diamond drilling in 2015 and
the final assay results are being incorporated into a revised
resource model which will allow completion of an updated resource
estimate anticipated in the third quarter. In addition,
metallurgical composite samples were prepared from selected core
samples and have been forwarded to Canada for further metallurgical test work in
the third quarter 2015.
Technical Information and Quality Control Notes
The
Boto drilling results 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, and reviewed and verified
by, 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 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 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: Boto Project Drilling Results – Malikoundi
Deposit
Hole#
|
UTM
(WGS84Zone29N)
|
AZ
|
DIP
|
EOH
|
From
|
To
|
Length
|
Grade
|
(DBDD-)
|
Easting
|
Northing
|
Elevation
|
(degrees)
|
(degrees)
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t
Au)
|
2247
|
241766
|
1379660
|
165
|
109
|
-60
|
185
|
86
|
88
|
2
|
2.87
|
|
|
|
|
|
|
|
155
|
158
|
3
|
1.26
|
2248
|
241829
|
1379829
|
164
|
111
|
-60
|
135
|
62
|
66
|
4
|
3.93
|
2252
|
242040
|
1379343
|
165
|
113
|
-60
|
115
|
40
|
44
|
4
|
1.07
|
2253
|
241633
|
1379477
|
165
|
113
|
-60
|
480
|
352
|
355
|
3
|
5.24
|
|
|
|
|
|
|
|
375
|
400
|
25
|
4.26
|
including
|
|
|
|
|
|
|
386
|
394
|
8
|
8.80
|
|
|
|
|
|
|
|
433
|
445
|
12
|
2.53
|
2254
|
241679
|
1379456
|
165
|
113
|
-60
|
430
|
306
|
308
|
2
|
1.22
|
|
|
|
|
|
|
|
332
|
337
|
5
|
3.56
|
|
|
|
|
|
|
|
341
|
344
|
3
|
1.77
|
|
|
|
|
|
|
|
391
|
400
|
9
|
2.31
|
2255
|
241730
|
1379434
|
166
|
116
|
-60
|
390
|
223
|
239
|
16
|
1.06
|
|
|
|
|
|
|
|
248
|
253
|
5
|
2.02
|
|
|
|
|
|
|
|
261
|
286
|
25
|
3.07
|
2256
|
242042
|
1379290
|
165
|
115
|
-60
|
100
|
No Significant
Intersection
|
2257
|
241631
|
1379424
|
165
|
113
|
-60
|
500
|
338
|
344
|
6
|
1.52
|
|
|
|
|
|
|
|
356
|
364
|
8
|
1.76
|
|
|
|
|
|
|
|
376
|
385
|
9
|
2.29
|
|
|
|
|
|
|
|
412
|
447
|
35
|
0.65
|
|
|
|
|
|
|
|
457
|
487
|
30
|
2.19
|
2258
|
241587
|
1379387
|
166
|
115
|
-60
|
500
|
419
|
422
|
3
|
1.00
|
|
|
|
|
|
|
|
451
|
480
|
29
|
1.83
|
2259
|
241633
|
1379366
|
166
|
115
|
-60
|
480
|
340
|
349
|
9
|
1.29
|
|
|
|
|
|
|
|
377
|
409
|
32
|
2.81
|
including
|
|
|
|
|
|
|
380
|
383
|
3
|
9.61
|
|
|
|
|
|
|
|
415
|
480
|
65
|
1.57
|
2263
|
241630
|
1379258
|
166
|
114
|
-60
|
465
|
358
|
372
|
14
|
0.50
|
|
|
|
|
|
|
|
381
|
416
|
35
|
0.94
|
|
|
|
|
|
|
|
422
|
443
|
21
|
0.88
|
2264
|
241635
|
1379311
|
166
|
117
|
-60
|
490
|
354
|
367
|
13
|
0.74
|
|
|
|
|
|
|
|
390
|
393
|
3
|
1.20
|
|
|
|
|
|
|
|
401
|
434
|
33
|
2.02
|
|
|
|
|
|
|
|
445
|
455
|
10
|
1.37
|
|
|
|
|
|
|
|
465
|
475
|
10
|
1.05
|
2265
|
242095
|
1379097
|
162
|
114
|
-60
|
100
|
14
|
18
|
4
|
1.05
|
2268
|
242091
|
1379044
|
163
|
116
|
-60
|
145
|
10
|
15
|
5
|
1.50
|
|
|
|
|
|
|
|
38
|
40
|
2
|
1.22
|
|
|
|
|
|
|
|
74
|
77
|
3
|
3.84
|
2269
|
241642
|
1379199
|
166
|
114
|
-60
|
480
|
341
|
359
|
18
|
4.96
|
including
|
|
|
|
|
|
|
352
|
356
|
4
|
17.15
|
|
|
|
|
|
|
|
363
|
369
|
6
|
2.02
|
|
|
|
|
|
|
|
391
|
412
|
21
|
1.13
|
|
|
|
|
|
|
|
418
|
429
|
11
|
0.61
|
|
|
|
|
|
|
|
461
|
464
|
3
|
1.18
|
2271
|
242096
|
1378987
|
160
|
114
|
-60
|
155
|
No Significant
Intersection
|
2272
|
241665
|
1379132
|
166
|
115
|
-60
|
440
|
316
|
330
|
14
|
0.61
|
2273
|
241710
|
1379111
|
166
|
114
|
-60
|
400
|
287
|
302
|
15
|
1.52
|
2274
|
242071
|
1378942
|
162
|
114
|
-60
|
200
|
19
|
21
|
2
|
2.83
|
|
|
|
|
|
|
|
48
|
70
|
22
|
0.81
|
|
|
|
|
|
|
|
100
|
119
|
19
|
1.31
|
2275
|
242119
|
1378920
|
161
|
115
|
-60
|
150
|
No Significant
Intersection
|
2276
|
241737
|
1379048
|
166
|
101
|
-60
|
122
|
Abandoned Before
Target
|
2276B
|
241737
|
1379047
|
166
|
115
|
-60
|
320
|
269
|
275
|
6
|
1.01
|
2277
|
242052
|
1378895
|
162
|
112
|
-60
|
250
|
33
|
37
|
4
|
1.04
|
|
|
|
|
|
|
|
43
|
47
|
4
|
1.05
|
|
|
|
|
|
|
|
152
|
154
|
2
|
2.12
|
2278
|
242102
|
1378866
|
161
|
111
|
-60
|
220
|
11
|
23
|
12
|
0.77
|
|
|
|
|
|
|
|
84
|
99
|
15
|
4.45
|
including
|
|
|
|
|
|
|
85
|
87
|
2
|
11.47
|
2279
|
242144
|
1378857
|
160
|
115
|
-60
|
185
|
20
|
25
|
5
|
3.72
|
|
|
|
|
|
|
|
38
|
56
|
18
|
2.57
|
including
|
|
|
|
|
|
|
43
|
35
|
2
|
12.28
|
2280
|
242030
|
1378851
|
160
|
114
|
-60
|
210
|
9
|
45
|
36
|
3.59
|
including
|
|
|
|
|
|
|
36
|
43
|
7
|
9.46
|
|
|
|
|
|
|
|
149
|
160
|
11
|
0.53
|
|
|
|
|
|
|
|
208
|
210
|
2
|
1.54
|
2281
|
242014
|
1378804
|
159
|
114
|
-60
|
135
|
12
|
32
|
20
|
0.95
|
|
|
|
|
|
|
|
108
|
121
|
13
|
0.79
|
SOURCE IAMGOLD Corporation