TORONTO, June 14, 2018 /CNW/ - IAMGOLD Corporation
("IAMGOLD" or the "Company") today announced assay results from the
2018 winter drilling program completed at its Monster Lake joint
venture project (currently held by IAMGOLD Corporation: 50%,
TomaGold Corporation: 45%, and Quinto Resources Inc.: 5% on the
Monster Lake claims block with IAMGOLD continuing to advance its
option to earn in up to a 75% interest). The project is located 50
kilometres southwest of Chibougamau,
Quebec, Canada. The company is reporting the final
assay results from all 26 drill holes, totaling 8,282 metres,
completed as part of the initial 2018 program.
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.)
325 - Megane Zone and Main Shear Zone:
- Drill hole ML18-212: 3.83 metres grading 23.96 g/t
gold
-
- Includes: 1.30 metres grading 67.22 g/t gold
- Drill hole ML18-213: 3.84 metres grading 39.24 g/t
gold
-
- Includes: 1.09 metres grading 127.4 g/t gold
- Drill hole ML18-217: 5.32 metres grading 40.94 g/t
gold
-
- Includes: 0.70 metres grading 251.0 g/t gold
- Drill hole ML18-225: 2.62 metres grading 72.17 g/t
gold
-
- Includes: 1.75 metres grading 107.3 g/t gold
Lower Shear Zone:
- Drill hole ML18-224: 4.32 metres grading 32.07 g/t
gold
-
- Includes: 0.74 metre grading 134.0 g/t gold
- Drill hole ML16-176B Ext :
0.70 metres grading 14.10 g/t gold
The Monster Lake joint venture project hosts an NI 43-101
compliant resource, effective as at February
26, 2018, comprising 1,109,700 tonnes of inferred resources
averaging 12.14 grams of gold per tonne for 433,300 ounces of
contained gold (see news release dated March
28, 2018). The 2018 winter drilling program was designed to
improve confidence in the continuity of the mineralization and to
test for extensions of the known mineralized zones. Key objectives
of the drilling program included: infill drilling targeting the
upper part of the 325-Megane Zone largely delineated by only
historical drilling; testing for proximal extensions along strike
and at depth; and evaluating newly discovered areas of
mineralization within a structure parallel to the Main Shear Zone
and adjacent to the 325-Megane Zone, referred to as the Lower Shear
Zone. All of the areas targeted in this program are best
accessed during the winter when the ground is frozen.
Craig MacDougall, Senior Vice
President, Exploration for IAMGOLD, stated: "We continue to be
impressed with both the continuity and the high grades demonstrated
by infill drilling of the 325-Megane Zone. Although
confirming resource extensions and expanding additional areas of
mineralization has proved to be challenging for our exploration
team, this style of mineralization remains an attractive
exploration target. As I have said before, we believe the
structural setting suggests favourable potential for the occurrence
of additional mineralized shoots along the Monster Lake structural
corridor and we continue to evaluate this setting for additional
zones of mineralization."
Next Steps
These results will be incorporated into the deposit model and
used to update the mineral resources to guide the next drilling
programs. Ongoing geochemical and structural studies will continue
to support exploration targeting. A further round of drilling
is being planned to test specific structural targets which are
accessible in the summer season.
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.
The Monster Lake Project is held under an earn-in option to
joint venture agreement with TomaGold. The Company holds an
undivided 50% interest in the property, and holds an option to earn
a further 25% undivided interest, for a total 75% undivided
interest in the Project, should it spend a total of 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. Under the terms of the option agreement,
IAMGOLD continues to conduct exploration on the project with a view
to increase its ownership to 75%.
On August 14, 2017, IAMGOLD
subscribed for 27.7 million common shares of TomaGold from treasury
representing 19.98% of the outstanding common shares of TomaGold.
The common shares were purchased at a price of C$0.09 per common share, for an aggregate
purchase price of C$2.5 million.
Prior to the acquisition, IAMGOLD did not hold any common shares of
TomaGold.
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, the 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
1,000 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.
For further information please contact:
Ken Chernin, VP Investor
Relations, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (416) 388-6883
Laura Young, Director,
Investor Relations, IAMGOLD Corporation
Tel: (416) 933-4952 Mobile: (416) 670-3815
Martin Dumont, Senior
Analyst Investor Relations, IAMGOLD Corporation
Tel: (416) 933-5783 Mobile: (647) 967-9942
Toll-free: 1-888-464-9999 info@iamgold.com
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 - 2018 Winter Drilling
Program
|
Hole No.
|
UTM NAD83
Zone18
|
AZ
|
DIP
|
EOH
|
From
|
To
|
Interval
|
True Width
(2)
|
Au (1)
(3)
|
NOTE
|
|
Easting
|
Northing
|
Elevation
|
(°)
|
(°)
|
(m)
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
|
ML-18-211
|
5488114.44
|
520231.34
|
370.73
|
284
|
-50
|
657
|
466.00
|
468.00
|
2.00
|
1.75
|
1.11
|
Main Shear
Zone
|
ML-18-212
|
5488256.00
|
519817.79
|
368.61
|
290
|
-50
|
162
|
26.00
|
31.00
|
5.00
|
3.83
|
23.96
|
Main Shear
Zone
|
Including
|
|
|
|
|
|
|
27.30
|
29.00
|
1.70
|
1.30
|
67.22
|
ML-18-213
|
5488285.18
|
519847.97
|
369.01
|
290
|
-45
|
189
|
38.10
|
38.80
|
0.70
|
0.61
|
1.18
|
Main Shear
Zone
|
|
|
|
|
|
|
|
48.10
|
52.50
|
4.40
|
3.84
|
39.24
|
Including
|
|
|
|
|
|
|
49.00
|
50.25
|
1.25
|
1.09
|
127.38
|
|
|
|
|
|
|
|
53.25
|
54.15
|
0.90
|
0.79
|
1.45
|
|
|
|
|
|
|
|
137.80
|
140.00
|
2.20
|
1.92
|
0.90
|
Lower Shear
Zone
|
ML-18-214
|
5488323.46
|
519891.80
|
369.33
|
290
|
-45
|
183
|
68.87
|
70.65
|
1.78
|
1.55
|
1.46
|
Main Shear
Zone
|
|
|
|
|
|
|
|
78.20
|
81.45
|
3.25
|
2.84
|
3.81
|
ML-18-215
|
5488070.54
|
520115.27
|
370.56
|
290
|
-52
|
534
|
370.60
|
372.70
|
2.10
|
1.83
|
1.32
|
Main Shear
Zone
|
ML-18-216
|
5488302.00
|
519918.23
|
369.60
|
310
|
-45
|
147
|
101.60
|
102.77
|
1.17
|
1.02
|
0.97
|
Main Shear
Zone
|
|
|
|
|
|
|
|
111.45
|
113.30
|
1.85
|
1.61
|
34.78
|
ML-18-217
|
5488301.62
|
519918.57
|
369.55
|
315
|
-57
|
279
|
118.80
|
119.80
|
1.00
|
0.87
|
8.35
|
Main Shear
Zone
|
|
|
|
|
|
|
|
120.80
|
121.80
|
1.00
|
0.87
|
2.01
|
|
|
|
|
|
|
|
123.90
|
130.00
|
6.10
|
5.32
|
40.94
|
Including
|
|
|
|
|
|
|
125.40
|
126.20
|
0.80
|
0.70
|
251.00
|
|
|
|
|
|
|
|
133.10
|
134.60
|
1.50
|
1.31
|
0.80
|
ML-18-218
|
5488241.38
|
520172.85
|
370.73
|
289
|
-60
|
549
|
75.90
|
77.10
|
1.20
|
1.05
|
1.69
|
E-W (az N70°) Shear
Zone
|
|
|
|
|
|
|
|
537.50
|
539.20
|
1.70
|
1.48
|
2.40
|
Lower Shear
Zone
|
ML-18-219
|
5488301.33
|
519918.87
|
369.56
|
315
|
-67
|
192
|
138.00
|
143.30
|
5.30
|
4.63
|
1.09
|
Main Shear
Zone
|
ML-18-220
|
5488363.06
|
519895.62
|
369.24
|
290
|
-45
|
177
|
60.60
|
63.90
|
3.30
|
2.88
|
2.31
|
Main Shear
Zone
|
|
|
|
|
|
|
|
69.80
|
70.80
|
1.00
|
0.87
|
1.08
|
ML-18-221
|
5488378.04
|
519918.88
|
369.44
|
295
|
-45
|
99
|
76.10
|
77.83
|
1.73
|
1.51
|
1.47
|
Main Shear
Zone
|
|
|
|
|
|
|
|
88.80
|
90.00
|
1.20
|
1.05
|
1.92
|
ML-18-222
|
5488377.73
|
519919.52
|
369.37
|
295
|
-63
|
147
|
88.70
|
98.70
|
10.00
|
8.73
|
1.31
|
Main Shear
Zone
|
Including
|
|
|
|
|
|
|
88.70
|
91.70
|
3.00
|
2.62
|
2.83
|
ML-18-223
|
5488377.54
|
519919.92
|
369.35
|
300
|
-75
|
153
|
113.55
|
115.72
|
2.17
|
1.89
|
3.09
|
Main Shear
Zone
|
|
|
|
|
|
|
|
125.05
|
129.90
|
4.85
|
4.23
|
3.75
|
ML-18-224
|
5488225.13
|
520136.93
|
370.54
|
290
|
-59
|
549
|
98.80
|
100.00
|
1.20
|
1.05
|
1.21
|
E-W Shear
Zone
|
|
|
|
|
|
|
|
513.80
|
518.75
|
4.95
|
4.32
|
32.07
|
Lower Shear
Zone
|
Including
|
|
|
|
|
|
|
515.80
|
516.65
|
0.85
|
0.74
|
134.00
|
ML-18-225
|
5488335.41
|
519981.46
|
370.01
|
294
|
-59
|
228
|
175.50
|
178.50
|
3.00
|
2.62
|
72.17
|
Main Shear
Zone
|
Including
|
|
|
|
|
|
|
175.50
|
177.50
|
2.00
|
1.75
|
107.30
|
|
|
|
|
|
|
|
182.50
|
183.50
|
1.00
|
0.87
|
4.33
|
ML-18-226
|
5488220.05
|
520004.76
|
369.73
|
290
|
-52
|
369
|
220.30
|
220.97
|
0.67
|
0.58
|
2.86
|
Main Shear
Zone
|
ML-18-227
|
5488408.63
|
520071.67
|
370.52
|
315
|
-70
|
465
|
287.40
|
288.75
|
1.35
|
1.18
|
5.55
|
Main Shear
Zone
|
|
|
|
|
|
|
|
292.30
|
293.40
|
1.10
|
0.96
|
1.15
|
ML-18-228
|
5488219.90
|
520005.26
|
369.74
|
290
|
-62
|
417
|
245.60
|
248.60
|
3.00
|
2.62
|
0.52
|
Main Shear
Zone
|
|
|
|
|
|
|
|
356.00
|
356.50
|
0.50
|
0.44
|
1.43
|
Lower Shear
Zone
|
ML-18-229
|
5488476.86
|
520177.74
|
370.98
|
292
|
-64
|
519
|
336.00
|
340.35
|
4.35
|
3.80
|
4.52
|
Main Shear
Zone
|
Including
|
|
|
|
|
|
|
348.54
|
349.27
|
0.73
|
0.64
|
3.79
|
ML-18-230
|
5488170.98
|
519966.54
|
369.37
|
290
|
-48
|
345
|
14.05
|
15.60
|
1.55
|
1.35
|
6.52
|
E-W (az N70°) Shear
Zone
|
|
|
|
|
|
|
|
193.35
|
194.35
|
1.00
|
0.87
|
0.74
|
Main Shear
Zone
|
|
|
|
|
|
|
|
259.50
|
260.10
|
0.60
|
0.52
|
1.05
|
Lower Shear
Zone
|
|
|
|
|
|
|
|
284.00
|
288.20
|
4.20
|
3.67
|
0.46
|
ML-18-231
|
5488593.39
|
520195.11
|
370.93
|
290
|
-70
|
501
|
No significant
results
|
|
ML-18-232
|
5488717.30
|
520216.88
|
372.12
|
293
|
-45
|
390
|
217.60
|
219.55
|
1.95
|
1.70
|
0.77
|
Main Shear
Zone
|
|
|
|
|
|
|
|
222.90
|
223.90
|
1.00
|
0.87
|
0.93
|
ML-18-233
|
5488700.24
|
520144.84
|
371.24
|
290
|
-60
|
324
|
116.65
|
117.55
|
0.90
|
0.79
|
1.43
|
E-W Shear
Zone
|
|
|
|
|
|
|
|
182.00
|
186.10
|
4.10
|
3.58
|
1.47
|
Main Shear
Zone
|
ML-18-234
|
5488716.64
|
520218.46
|
372.00
|
300
|
-60
|
417
|
373.30
|
375.80
|
2.50
|
2.18
|
2.97
|
Lower Shear
Zone
|
ML-16-176B
Ext
|
5488282.89
|
520128.70
|
370.72
|
283
|
-60
|
(+101m) EOH
551
|
469.55
|
470.35
|
0.80
|
0.70
|
14.10
|
Lower Shear
Zone
|
M-13-102
Ext
|
5488281.57
|
520129.45
|
370.59
|
290
|
-63
|
(+123m) EOH
507
|
No significant
results
|
Lower 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 to 90% of the core
interval.
|
3. Assays are
reported uncut but high grade sub-intervals are
highlighted.
|
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SOURCE IAMGOLD Corporation