TORONTO, Nov. 16, 2017 /CNW/ - IAMGOLD Corporation
("IAMGOLD" or the "Company") today provided an update from its
ongoing Phase II 2017 drilling program at the Saramacca project,
located 25 kilometres southwest of its Rosebel Gold Mine ("RGM") in
Suriname. Following the disclosure of an initial resource estimate
(see news release dated September
5th, 2017), the Company commenced a 22,000-metre
diamond drilling program with the objective to: 1) convert inferred
resources to indicated; 2) target expansions to the existing
resource along known mineralized trends and at depth, and 3) begin
drill testing identified exploration targets. Assay results
reported herein have been received from 37 drill holes totaling
9,553 metres. The program is ongoing and further assay results will
be reported once they are received, validated and compiled.
Assay intersections relating to this release are provided in
Table 1 and include the following highlights:
Infill Drill Holes:
- SMDD17-181A: 39.0 metres grading 3.47 g/t Au
- SMDD17-185: 57.0 metres grading 2.56 g/t Au
Expansion Drill Holes:
- SMDD17-182: 6.0 metres grading 67.39 g/t Au (15.33 g/t Au
capped)
- SMDD17-196: 28.5 metres grading 3.85 g/t Au
- SMDD17-202: 39.0 metres grading 3.06 g/t Au
- SMDD17-213: 34.5 metres grading 4.50 g/t Au
(A drill hole plan map is attached to this news release)
Craig MacDougall, Senior Vice
President, Exploration for IAMGOLD, stated: "The ongoing drilling
program continues to deliver positive results, not only increasing
our confidence in the existing resources, but extending
mineralization below the initial resource pit shell which is
expected to have a positive impact on future resource
estimates. This, coupled with the ongoing engineering
studies, is expected to allow us to upgrade the project to a
reserve status in 2018 and to target production for 2019."
2017 Exploration
Program
Drilling from the current program has confirmed further
continuity of mineralization in areas associated with the main
mineralized structures within and below the current resource pit
shell (see tables 1 A & B) and in secondary structures in the
hanging wall (see tables 1 C & D). These results are
expected to have a positive impact on future resource
updates. Results from initial step out holes to the northwest
and southeast along strike (see tables 1 E & F) did not
intersect significant mineralization, although encouragingly the
main host structure appears to continue. It must be noted
that the pinch and swell of mineralized zones within the deposit
foot print is typical. Further drilling is required to test for
additional mineralized zones along strike.
In addition to the drilling program outlined above, the Rosebel
mine team is working to advance the Saramacca deposit towards
production. An Environmental and Social Impact Study (ESIA) is
underway and preliminary engineering work is advancing on mine
design and various infrastructure elements, such as ore transport
options, access roads, and waste rock disposal. In addition, field
work has commenced to provide geotechnical and hydrogeological
information and to complete condemnation work over areas of the
proposed site infrastructure. A comprehensive metallurgical
testing program will also be undertaken to refine the recovery
assumptions and to test the crushing and grinding characteristics
of the mineralization.
About the Saramacca Project
The Saramacca project is strategically located approximately 25
kilometres southwest of the Rosebel Gold Mine milling facility.
Mineralization is hosted in the Paramaka Formation within the lower
part of the Marowijne Greenstone Belt, which is dominated by
metamorphosed basalts in the immediate project area. These
are traversed by the regional, northwest trending Saramacca shear
zone, which is believed to be an important deformation zone for the
localization of gold mineralization.
On August 30, 2016, the Company
signed a letter of intent with the Government of Suriname to
acquire rights to the Saramacca property, with the intent of
defining a National Instrument 43-101 mineral resource within 24
months. The terms of the letter included an initial payment of
$0.2 million, which enabled immediate
access to the property for Rosebel's exploration team to conduct
due diligence, as well as access to the data from previous
exploration activity at the Saramacca property. On September 30, 2016, having been satisfied with
the results of the due diligence, the Company ratified the letter
of intent to acquire the Saramacca property and subsequently paid
$10 million in cash and agreed to
issue 3.125 million IAMGOLD common shares to the Government of
Suriname in three approximately equal annual instalments on each
successive anniversary of the date the right of exploration was
transferred to Rosebel (December 14,
2016). In addition, the agreement provides for a potential
upward adjustment to the purchase price based on the contained gold
ounces identified by Rosebel in National Instrument 43-101 measured
and indicated resource categories, within a certain Whittle shell
within the first 24 months, to a maximum of $10 million.
The Saramacca project falls within the "UJV" area as defined in
an Agreement with the Government of Suriname announced on
April 15, 2013. The Agreement
establishes a joint venture growth vehicle under which Rosebel
would hold a 70% participating interest and the Government will
acquire a 30% participating interest on a fully-paid basis.
On September 5th, 2017,
the Company announced the first mineral resource estimate in
accordance with the Canadian Institute of Mining, Metallurgy and
Petroleum ("CIM") Definition Standards incorporated by reference in
National Instrument 43-101 ("NI 43-101") for the Saramacca deposit,
and subsequently filed a NI 43-101 Technical Report available on
the Company's website at www.iamgold.com or under the Company's
profile at www.sedar.com. The resource estimate comprises
14.4 million tonnes of indicated resources averaging 2.20
grams of gold per tonne for 1,022,000 ounces and 13.6 million
tonnes of inferred resources averaging 1.18 grams of gold per tonne
for 518,000 ounces. Approximately 60% of the resources are
contained within shallow, softer laterite and saprolite hosted
mineralization. The Saramacca deposit is believed to have
significant potential for expansion.
Qualified Persons and Technical Information
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, verification and review of the technical information
in this release is Samuelle Gariepy,
P. Geo., Senior Exploration Geologist with the regional exploration
team at the Rosebel Gold Mine in Suriname. She 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 information in this news release was reviewed and approved
by Craig MacDougall, P.Geo., Senior
Vice President, Exploration for IAMGOLD. Mr. MacDougall is a
Qualified Person as defined by National Instrument 43-101.
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 Rosebel mine
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 FILAB in Paramaribo, Suriname, a representative lab of
ALS. FILAB is an ISO 9001 (2008) and ISO/IEC 170250
accredited laboratory. Samples are weighed and coarse crushed to
<2.5 mm, and 350-450 grams is pulverized to 85% passing <100
μm. Samples are analyzed for gold using standard fire assay
technique with a 50 gram charge and an Atomic Absorption (AA)
finish. IAMGOLD inserts blanks and certified reference standard in
the sample sequence for quality control. Samples
representative of the various lithologies are collected from each
drill hole and measured for bulk density at the site RGM
laboratory.
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", "estimate", "believe", "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: Diamond Drill Hole Assay Results
A: Infill drilling
along the main mineralized structures (main fault) within resource
pit shell
|
HOLE-ID
|
Local UTM
grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True
Width (m)3
|
Au
(g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
Easting
|
Northing
|
Elev.
|
SMDD17-181
|
32833
|
63386
|
891
|
89.2
|
215
|
-50
|
0
|
10.5
|
10.5
|
5.65
|
0.88
|
0.88
|
SMDD17-181A
|
32832
|
63384
|
891
|
345
|
215
|
-50
|
0
|
10.5
|
10.5
|
5.73
|
1.07
|
1.07
|
|
|
|
|
|
|
|
228
|
235.5
|
7.5
|
4.09
|
2.59
|
2.59
|
|
|
|
|
|
|
|
261
|
300
|
39
|
21.28
|
3.47
|
3.47
|
SMDD17-188
|
32495
|
63684
|
866
|
117
|
215
|
-50
|
24
|
55.5
|
31.5
|
17.19
|
2.16
|
2.16
|
|
|
|
|
|
|
|
94.5
|
100.5
|
6
|
3.27
|
6.05
|
6.05
|
SMDD17-195
|
32329
|
63972
|
826
|
186
|
215
|
-47
|
No significant
results
|
|
|
|
|
|
|
|
248
|
254
|
6
|
3.11
|
0.55
|
0.55
|
SMDD17-216
|
32688
|
63268
|
917
|
420.5
|
35
|
-50
|
67.8
|
75
|
7.2
|
4.89
|
2.52
|
2.52
|
B: Expansion drilling
along the main mineralized structures (main fault) below resource
pit shell
|
HOLE-ID
|
Local UTM
grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True
Width (m)3
|
Au
(g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
Easting
|
Northing
|
Elev.
|
SMDD17-182
|
32873
|
63357
|
892
|
402.5
|
215
|
-50
|
309.5
|
315.5
|
6
|
3.27
|
67.39
|
15.33
|
|
|
|
|
|
|
|
348.5
|
363.3
|
14.8
|
8.07
|
2.91
|
2.91
|
SMDD17-187
|
32672
|
62976
|
912
|
417
|
35
|
-50
|
297
|
304
|
7
|
4.75
|
1.27
|
1.27
|
SMDD17-190
|
32436
|
63863
|
848
|
237
|
215
|
-50
|
No significant
results
|
SMDD17-192
|
32406
|
63909
|
838
|
258
|
215
|
-50
|
No significant
results
|
SMDD17-193
|
32729
|
63499
|
880
|
306
|
215
|
-50
|
No significant
results
|
SMDD17-194
|
32710
|
62963
|
899
|
384.5
|
35
|
-50
|
261.5
|
272
|
10.5
|
7.13
|
1.3
|
1.3
|
SMDD17-196
|
32776
|
63482
|
874
|
345
|
215
|
-50
|
240
|
268.5
|
28.5
|
15.55
|
3.85
|
3.85
|
SMDD17-198
|
32631
|
63616
|
888
|
275
|
215
|
-50
|
220.5
|
226
|
5.5
|
3
|
2.08
|
2.08
|
SMDD17-199
|
32456
|
63794
|
876
|
193.5
|
215
|
-50
|
No significant
results
|
SMDD17-201
|
32302
|
63588
|
881
|
321.5
|
35
|
-50
|
279.5
|
285.5
|
6
|
4.07
|
3.26
|
3.26
|
SMDD17-202
|
32588
|
63733
|
862
|
315.5
|
215
|
-51
|
255.5
|
294.5
|
39
|
20.74
|
3.06
|
3.06
|
SMDD17-204
|
32144
|
63798
|
882
|
273.5
|
35
|
-53
|
No significant
results
|
SMDD17-207
|
31799
|
64341
|
721
|
225.5
|
35
|
-50
|
No significant
results
|
SMDD17-209
|
31762
|
64290
|
730
|
351.5
|
35
|
-55
|
276.5
|
290
|
13.5
|
8.34
|
1.04
|
1.04
|
SMDD17-211
|
32860
|
63425
|
880
|
447.5
|
215
|
-50
|
362
|
393.5
|
31.5
|
17.19
|
1.88
|
1.88
|
SMDD17-213
|
32158
|
64421
|
720
|
432.5
|
215
|
-50
|
0
|
5.25
|
5.25
|
2.86
|
0.6
|
0.6
|
|
|
|
|
|
|
|
180.5
|
189.5
|
9
|
4.91
|
0.72
|
0.72
|
|
|
|
|
|
|
|
206
|
219.5
|
13.5
|
7.37
|
1.02
|
1.02
|
|
|
|
|
|
|
|
329
|
338
|
9
|
4.91
|
1.19
|
1.19
|
|
|
|
|
|
|
|
360.5
|
395
|
34.5
|
18.82
|
4.5
|
4.5
|
|
|
|
|
|
|
|
414.5
|
422
|
7.5
|
4.09
|
1.13
|
1.13
|
C: Infill drilling
along the secondary mineralized structures within resource pit
shell
|
HOLE-ID
|
Local UTM
grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True
Width (m)3
|
Au
(g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
|
Easting
|
Northing
|
Elev.
|
|
|
|
|
|
|
|
|
|
SMDD17-185
|
32795
|
63592
|
864
|
157.5
|
215
|
-50
|
37.5
|
94.5
|
57
|
31.1
|
2.56
|
2.56
|
SMDD17-200
|
32319
|
64126
|
773
|
297
|
215
|
-50
|
153.4
|
162
|
8.6
|
4.69
|
5.8
|
5.8
|
SMDD17-210
|
32179
|
64280
|
730
|
309.5
|
215
|
-52
|
120
|
131.5
|
11.5
|
5.96
|
3.44
|
3.44
|
|
|
|
|
|
|
|
248
|
254
|
6
|
3.93
|
0.54
|
0.54
|
D: Expansion drilling
along the secondary mineralized structures below resource pit
shell
|
HOLE-ID
|
Local UTM
grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True
Width (m)3
|
Au
(g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
Easting
|
Northing
|
Elev.
|
SMDD17-183
|
32904
|
63480
|
859
|
231
|
215
|
-50
|
0
|
9
|
9
|
4.91
|
1.16
|
1.16
|
|
|
|
|
|
|
|
196.5
|
217.5
|
21
|
11.46
|
4.87
|
4.87
|
SMDD17-191
|
32810
|
63088
|
883
|
282
|
35
|
-50
|
No significant
results
|
SMDD17-197
|
32362
|
64112
|
779
|
297
|
215
|
-50
|
204
|
213
|
9
|
4.91
|
1.43
|
1.43
|
SMDD17-203
|
32272
|
64152
|
767
|
291
|
215
|
-50
|
0
|
16.5
|
16.5
|
9
|
0.8
|
0.8
|
|
|
|
|
|
|
|
136.5
|
142.5
|
6
|
3.27
|
2.72
|
2.72
|
SMDD17-208
|
32912
|
63408
|
873
|
183.5
|
215
|
-50
|
0
|
12
|
12
|
6.55
|
2.33
|
2.33
|
|
|
|
|
|
|
|
139.5
|
153.5
|
14
|
7.64
|
2.81
|
2.81
|
|
|
|
|
|
|
|
159.5
|
170
|
10.5
|
5.73
|
0.52
|
0.52
|
SMDD17-215
|
31917
|
64604
|
697
|
243
|
215
|
-50
|
1.5
|
21
|
19.5
|
10.64
|
1
|
1
|
|
|
|
|
|
|
|
142.5
|
151.5
|
9
|
4.91
|
3.98
|
3.98
|
E: Expansion drilling
along strike at the south east end of resource pit shell
|
HOLE-ID
|
Local UTM
grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True
Width (m)3
|
Au
(g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
Easting
|
Northing
|
Elev.
|
SMDD17-184
|
33026
|
63226
|
874
|
243
|
215
|
-50
|
No significant
results
|
SMDD17-186
|
32968
|
62957
|
846
|
234
|
215
|
-50
|
No significant
results
|
SMDD17-189
|
32907
|
62907
|
854
|
165
|
215
|
-50
|
No significant
results
|
F: Expansion drilling
along strike at the north west end of resource pit shell
|
HOLE-ID
|
Local UTM
grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True
Width (m)3
|
Au
(g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
Easting
|
Northing
|
Elev.
|
SMDD17-212
|
31723
|
64675
|
667
|
84
|
215
|
-50
|
30
|
39
|
9
|
4.91
|
0.69
|
0.69
|
SMDD17-214
|
31776
|
64750
|
659
|
225.5
|
215
|
-50
|
No significant
results
|
G: Exploration
drilling north of resource pit shell
|
HOLE-ID
|
Local UTM
grid
|
End of
hole (m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True
Width (m)3
|
Au (g/t)
|
Au (g/t)
(capped at 30
g/t Au)2
|
Easting
|
Northing
|
Elev.
|
SMDD17-205
|
32483
|
64277
|
717
|
156
|
215
|
-50
|
No significant
results
|
SMDD17-206
|
32541
|
64348
|
702
|
180.5
|
215
|
-50
|
No significant
results
|
Notes:
|
1.
|
Drill hole intercepts
are calculated using a 0.50 g/t Au assay cut-off and 5m minimum
length
|
2.
|
During compositing,
assays greater than 30 g/t Au are capped at 30 g/t Au
|
3.
|
True widths are
estimated from intersected geometries
|
Figure 1: Saramacca drill hole plan map and highlighted 2017
assay results.
SOURCE IAMGOLD Corporation