TSX: IMG NYSE: IAG
TORONTO, May 11, 2017 /PRNewswire/ - IAMGOLD
Corporation ("IAMGOLD" or the "Company") today provided an
update on the ongoing exploration program at its Monster Lake joint
venture project located 50 kilometres southwest of Chibougamau, Quebec, Canada. The company
is reporting assay results from the first eleven drill holes,
totaling just over 5,100 metres, from a total of 24 diamond drill
holes, totaling 10,657 metres, completed this past winter.
The assay results are provided in Table 1 below and include the
following highlights:
(A drill hole plan map and longitudinal sections are attached to
this news release.)
Monster Lake Shear Zone, Megane Zone and Annie Shear Zone:
- Drill hole ML17-190: 4.4 metres grading 5.21 g/t
gold
-
- Includes: 1.3 metres grading 15.99 g/t gold
and 1.9 metres grading 9.82 g/t gold
- Includes: 0.6 metres grading 25.10 g/t gold
and 0.6 metres grading 36.90 g/t gold
- Drill hole ML17-194: 3.1 metres grading 121.67 g/t
gold,
-
- Includes: 1.1 metres grading 316.89 g/t gold
Lower Shear Zone:
- Drill hole ML-17-191: 1.8 metres grading 85.27 g/t
gold.
The 2017 winter drilling program was designed to target high
potential areas along the 3-kilometre trend of the Monster Lake
Structural Corridor ("MLSC") and associated shear zones to improve
confidence and expand known zones of mineralization, including the
recently discovered second zone located 200 to 400 metres to the
north of the Megane Zone, as well as mineralization in a parallel
lower shear zone. Structural patterns suggest the potential for
additional mineralized shoots along this major corridor.
The results from hole ML17-190 drilled in the new zone to the
north of the Megane Zone confirm previous results in hole ML15-147
that intersected multiple mineralized shears and may indicate an
extension of the zone. Two areas of mineralization were also
intersected in the Lower Monster Lake Shear Zone in drill holes
ML17-184 and 191 which will require further testing. Infill
drilling in the Megane Zone positively demonstrated continuity of
the very high grade nature of this lens where tested. Further
results from this drilling program are pending and will be assessed
when they are received, validated and compiled.
Craig MacDougall, Senior Vice
President, Exploration for IAMGOLD, stated: "Assays from this
winter drilling program continue to return encouraging results,
including those from a new zone along the main hosting structure,
as well as from a lower parallel shear zone. The potential for the
discovery of additional mineralized shoots is considered
favourable."
Next Steps
Once the remaining assay results are in
hand, they will be assessed and may lead to an estimation of an
initial mineral resource by yearend. Further drilling will be
required to evaluate the potential of the new mineralized areas,
the timing of which will be dependent on ground conditions to allow
the access of drilling equipment.
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 exploration by TomaGold Corporation ("TomaGold') have
identified a four-kilometre long structural corridor, along which
most of the known gold occurrences discovered to date on the
property are associated, including the Megane Zone.
IAMGOLD holds a 50% interest in the Monster Lake project.
Pursuant to an earn-in option agreement with TomaGold amended on
October 30, 2015, IAMGOLD holds
an option to earn a further 25% undivided interest, for a total 75%
undivided interest in the project, should it spend a further
C$10.0 million on the project within
a seven-year period, beginning January 1,
2015. Should a development decision be made by the joint
venture, or should the joint venture declare commercial production,
TomaGold would be entitled to a further C$1.0 million payment. IAMGOLD has completed its
first year commitment under the terms of the amended option earn in
agreement.
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 ALS Minerals
Laboratory located 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. ALS
Minerals processes analytical pulps directly at their facilities
located in Val-d'Or which is ISO /
IEC 17025 certified by the Standards Council of Canada. 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 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", "should",
"continue", "expect", "anticipate", "estimate", "believe",
"intend", "to earn", "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/Home/default.aspx.
Table 1
Monster Lake
Project Drilling Final Results - 2017 Winter 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-17-184
|
5488649
|
520146
|
371
|
288
|
-60
|
408
|
319.40
|
322.25
|
2.85
|
2.18
|
3.20
|
Lower Shear
Zone
|
ML-17-186
|
5488702
|
520396
|
372
|
295
|
-53
|
684
|
409.05
|
409.54
|
0.49
|
0.42
|
3.71
|
Main Shear
Zone
|
|
|
|
|
|
|
|
423.80
|
425.30
|
1.50
|
1.30
|
4.66
|
|
|
|
|
|
|
|
|
579.00
|
581.50
|
2.50
|
2.17
|
0.93
|
Lower Shear
Zone
|
ML-17-187
|
5488011
|
520001
|
372
|
289
|
-50
|
429
|
No significant
results
|
|
|
|
|
|
ML-17-188
|
5488058
|
520002
|
369
|
289
|
-50
|
399
|
253.50
|
254.00
|
0.50
|
0.43
|
1.76
|
Main Shear
Zone
|
|
|
|
|
|
|
|
256.10
|
256.70
|
0.60
|
0.32
|
1.56
|
|
ML-17-189
|
5488928
|
520307
|
373
|
315
|
-55
|
336
|
264.20
|
265.10
|
0.90
|
0.87
|
3.08
|
Annie Shear
Zone
|
ML-17-190
|
5489005
|
520343
|
373
|
315
|
-55
|
348
|
253.60
|
258.30
|
4.70
|
3.32
|
2.92
|
Main Shear
Zone
|
Including(3)
|
|
|
|
|
|
|
253.60
|
254.50
|
0.90
|
0.64
|
7.25
|
|
|
|
|
|
|
|
|
283.30
|
291.00
|
7.70
|
4.42
|
5.21
|
|
Including(3)
|
|
|
|
|
|
|
283.80
|
286.00
|
2.20
|
1.26
|
15.99
|
|
|
|
|
|
|
|
|
308.60
|
311.60
|
3.00
|
1.93
|
9.82
|
|
Including(3)
|
|
|
|
|
|
|
309.60
|
310.60
|
1.00
|
0.64
|
25.10
|
|
|
|
|
|
|
|
|
344.10
|
345.00
|
0.90
|
0.64
|
36.90
|
|
ML-17-191
|
5488111
|
520137
|
370
|
290
|
-55
|
552
|
383.80
|
386.20
|
2.40
|
2.32
|
0.72
|
Main Shear
Zone
|
|
|
|
|
|
|
|
509.90
|
512.45
|
2.55
|
1.80
|
85.27
|
Lower Shear
Zone
|
ML-17-192
|
5488777
|
520278
|
373
|
300
|
-60
|
493.5
|
271.00
|
273.00
|
2.00
|
1.29
|
1.83
|
Main Shear
Zone
|
|
|
|
|
|
|
|
274.60
|
277.60
|
3.00
|
1.93
|
0.98
|
|
ML-17-193
|
5488784
|
520331
|
372
|
305
|
-60
|
603.8
|
379.90
|
380.50
|
0.60
|
0.46
|
1.29
|
Main Shear
Zone
|
|
|
|
|
|
|
|
575.90
|
577.00
|
1.10
|
0.84
|
1.47
|
Lower Shear
Zone
|
ML-17-194
|
5488306
|
520134
|
371
|
293
|
-58
|
381
|
333.50
|
334.60
|
1.10
|
0.71
|
3.45
|
Main Shear
Zone
|
|
|
|
|
|
|
|
339.00
|
343.85
|
4.85
|
3.12
|
121.67
|
|
Including(3)
|
|
|
|
|
|
|
340.40
|
342.10
|
1.70
|
1.09
|
316.89
|
|
ML-17-196
|
5488813
|
520417
|
372
|
300
|
-55
|
468
|
387.50
|
388.50
|
1.00
|
0.71
|
2.37
|
Main Shear
Zone
|
|
|
|
|
|
|
|
417.80
|
418.70
|
0.90
|
0.64
|
1.14
|
|
Notes:
1. Drill hole intercepts are calculated using a 0.50
g/t Au assay cut-off.
2. True widths of intersections are approximately 75-90% of
the core interval.
3. Assays are reported uncut but high grade sub-intervals are
highlighted.
SOURCE IAMGOLD Corporation