TSX: IMG NYSE: IAG
TORONTO, July 5, 2016 /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 four deep diamond drill holes at the Malikoundi
deposit totaling 2,341 metres completed to date during the 2016
drilling program.
The assay results are provided in Table 1 and include the
following highlights:
Malikoundi Deposit:
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• Drill hole DBDD-2294:
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84 metres grading
4.12 g/t gold
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Includes: 22
metres grading 11.25 g/t gold
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and
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69 metres grading
1.56 g/t gold
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Craig MacDougall, Senior Vice
President, Exploration for IAMGOLD, stated, "The deep drilling
program has successfully extended mineralization at depth below the
current resource model and, importantly, has confirmed the presence
of high grades below the current resource pit shell. These
results will help guide further drilling at depth targeting other
potentially high grade areas."
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 27.7 million tonnes
averaging 1.8 g/t gold for 1.56 million ounces and an inferred
resource of 2.9 million tonnes averaging 1.3 g/t gold for 125,000
ounces (see news release regarding reserves and resources dated
February 17, 2016).
Next Steps
To date, the Company has completed 4,148 metres of diamond
drilling, including 2,341 metres to test for extensions of
mineralization at depth below the current resource model as well as
the re-entry and deepening of selected drill holes which previously
stopped in footwall mineralization. A further 765 metres have
been completed for geotechnical purposes to help define potential
pit wall slopes. The drilling program will continue until the
commencement of the seasonal rains and is expected to resume in the
fourth quarter of this year.
Technical Information and Quality Control Notes
Boto Project, Senegal:
The Boto drilling results 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 one 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.
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 "will", "continue",
"expect", "estimate", "intend", "to have', "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.
SOURCE IAMGOLD Corporation