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Toronto, Ontario – (Newsfile Corp.- August 20, 2020) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”) today announced the effects of the remaining analyses of its 2020 exploration diamond drilling program terminated in Lake Gamble’s domain for gold allocation, opted through Yorbeau Resources Inc. (“Yorbeaubeau). The assignment is four kilometers south of Rouyn-Noranda, Quebec, and approximately forty-five kilometers southwest of IAMGOLD’s Operation Westwood.
The Company presents the effects of the analysis of the twelve (12) remaining diamond drilling wells, for a total of 4,062 meters completed as a component of the 2020 winter drilling program. Drilling activities have also resumed in the Astoria area, approximately two kilometres east of the Gamble Lake area, and analyses will be reported once received, validated and compiled.
The effects of the analyses reported here are provided in Table 1 below and come with the following highlights (a longitudinal segment illustrating Gamble Lake’s drilling program found in this press release):
Lake Gamble Zone – Main Area:
HOLLOW PERFORATION GA-19-761: 4.1 meters with a degree of 10.4 g Au / t
Y: 2.0 meters to 7.8 g / t Au includes: 1.0 meter to 12.5g / t Au
GA-20-768 probe: 8.9 meters edge 4.3 g/t Au includes: 2.0 meters edge 15.1 g au/t
GA-20-769 survey: 7.4 meters edge 8.3 g/t Au includes: 1.0 meters edge 46.3 g Au / t
Craig MacDougall, senior vice president of IAMGOLD Exploration, said: “Despite the disruption of the filler drilling program due to a suspension of operations due to the COVID-19 crisis, a significant portion of the program has ended and I congratulate the efforts of the exploration team that has adapted to those unique circumstances. With the effects of the program now in hand, we are working to upgrade our deposit style to an initial long-term resource estimate for the Lake Gamble area. Drilling has also resumed in Astoria to assess the prospective resource of this area.”
The goal of the diamond drilling program in Gamble Lake’s domain was to continue a systematic filler drilling program at nominal drilling centers of 50 x 50 meters in the upper component of the area for a long-term resource estimate. In addition, side extensions were also aimed at evaluating the possibility of domain expansion. The programme was suspended in March 2020 due to the suspension of all activities as indicated by the Quebec government in reaction to the COVID-19 crisis. As a result, several depot spaces want to be systematically delimited and a new drilling phase may be required to be evaluated for the upcoming winter season.
The drilling program effectively crossed the Cadillac-Piché directed cutting corridor, which houses the Lake Gamble mineralized zone. It is related to an alteration ranging from several meters to more than ten meters wide, presenting variable carbonation, fuchsite, silicification, intersected through a network of veins and stockwork gaps of white quartz and brown tourmaline. Gold mineralization occurs in the form of small visual loose gold spots related to minor sulphide in quartz-tourmaline veins.
Next steps
The implementation of COVID-19 protection protocols allowed box exploration and drilling activities to resume after the suspension of transitoryness in accordance with the provisions of the Quebec government.
The remaining exploration program for 2020 is designed to evaluate the exploration targets decided on the domain of the old Astoria depot and adjacent targets with up to 5,000 meters of planned diamond drilling. The objective of the program is to evaluate the continuity of mineralization so that the prospective outlines a resource. The effects of this program will be released once they have been received, validated and compiled.
The effects of drilling program analyses will be incorporated into existing geological, geochemical and structural data for the progression and refinement of an initial deposit style and the final touch of a long-term estimate of the mineral resources of the Gamble Lake area.
About the Rouyn Gold project
Rouyn’s gold assets are located about four km south of Rouyn-Noranda, Quebec. With a long mining history, the city of Rouyn-Noranda provides many benefits for mining and exploration, adding political and social stability, smart access and infrastructure, qualified mining workers’ bodies and one of the highest mining jurisdictions in the world.
The assets cover a 12-kilometre stretch of the Cadillac-Larder Lake Fault and comprise 4 known gold deposits along the 6 km Augmitto-Astoria room on the west side of the assets. Two of the 4 deposits, Astoria and Augmitto, have established underground infrastructure and have been the subject of technical reports that add past resource estimates submitted in accordance with NI 43-101 Regulations.
Lake Gamble’s domain is located between the Augmito and Astoria deposits. The prospect of the exploration target at Gamble Lake is interpreted as between 400,000 and 600,000 ounces of gold with a law of between 7.0 and 8.5 g/t Au. The prospective quantity and content of the exploration targets discussed are conceptual in nature and inadequate exploration paints have been made to delineate a mineral resource. Assets may require significant long-term exploration to move to resource level, and there can be no certainty that the exploration goal will result in the delimitation of a mineral resource. Exploration targets are consistent with similar deposits in the region, deposit models, or derived from early drilling results.
IAMGOLD signed a final option agreement in December 2018, in which IAMGOLD has the option of getting an interest of one hundred consistent with pennies on the lease by making planned money bills totaling C$4 million and by incurring exploration expenses totaling C$9 million over a constant four-year period. withiod. At the end of the year-consistent termination, the company must complete an estimate of resources in accordance with Regulation 43-101, after which the company, at its option, may acquire an interest of one hundred consistent with the percentage in the allocation, subject to a net smelter dating back to 2%. production royalties, paying Yorbeau the amount less than C$15 consistent with an ounce of recourse or C$30 million. IAMGOLD is in the year of the option contract.
Technical data and quality notes
The drilling effects contained in this press were ready in accordance with Regulation 43-101 (“Regulation 43-101”) on the disclosure of mining projects.
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 NI 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 design of the drilling program and the interpretation of the effects are carried out by IAMGOLD and Yorbeau geological staff, adding qualified Americans using strict protocols consistent with Regulation 43-101 and the most productive practices in the industry. Sampling and research knowledge for the drilling core is monitored by implementing a Quality Assurance Program (QCA). Drilling cores (NQ size) are recorded and samples are decided through geologists and then cut in part with a diamond saw at the assignment site. Half of the core is kept on site for reference purposes. Sampling periods can range from one meter to one meter and part depending on geological observations.
Half-core samples are packaged and transported in sealed bags to AGAT laboratories in Val d’Or, Quebec, and Mississauga, Ontario. Samples are coarse crushed to a -10 mesh and then a 1,000 gram split is pulverized to 95% passing -150 mesh. AGAT prepare analytical pulps at their facilities located in Val-d’Or and processed the pulps at their Mississauga laboratory which is ISO / IEC 17025:2005 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 3.0 grams per tonne, 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 grams per tonne are processed with a protocol involving fine grinding of the entire sample, followed by metallic screen analysis of the entire pulverized material. Insertion of duplicate, blanks and certified reference standards in the sample sequence is done in all drill holes for quality control.
WARNING ABOUT FUTURE INFORMATION
This press release includes forward-looking statements. All statements, other than from old facts, that relate to activities, occasions or progressions that the Company expects, expects or anticipates to happen or possibly will happen in the long term are forward-looking statements. Forward-looking statements can sometimes be identified by the use of the words “possibly,” “will,” “should,” “continue,” “expect,” “anticipate,” “estimate,” “believe,” “prospective,” “significant,” “significant potential,” “substantial,” “transform,” “intention,” “plan,” or “project” or the negative of the words of one or other diversifications of the words of one or other. Forward-looking statements are subject to a number of dangers and uncertainties, many of which are beyond the Company’s ability to predict them, possibly causing the Company’s actual effects to differ significantly from those discussed in future statements. Factors that may also cause actual or occasional effects to differ dramatically from existing expectations include, but are not limited to, non-compliance with expected, estimated or expected gold production, unforeseen increases in all-inclusive maintenance prices or other prices, unforeseen increases in capital expenditures and exploration, variation in the mineral content of curtains known as mineral resources and mineral reserves in relation to forecasts, adjustments in progression or mining plans due to adjustments in logistics, technical factors or others, the option that the effects of the executed exploration will not meet the Company’s expectations, adjustments to global gold markets and other hazards revealed on Form 40-F/ IAMGOLD’s recent annual notice filed with the U.S. Securities and Exchange Commission and Canadian securities regulators. Any forward-looking statements relate only to the date on which it is made and, unless required by applicable securities laws, the Company disclaims any objective or legal responsibility to update the forward-looking statements. The Company waives any objective or legal responsibility to update or revise any forward-looking statements, whether as a result of new information, long-term or otherwise, unless required by applicable law.
About IAMGOLD
IAMGOLD is a mid-level mining company with 3 gold mines on 3 continents, adding the Essakane mine in Burkina Faso, the Rosebel mine in Suriname and the Westwood mine in Canada. A forged strategic asset base is complemented by the Gold Coast progression allocation in Canada, the allocation of Boto Gold’s progression in Senegal, as well as new and abandoned exploration allocations in West African and American countries. On July 21, 2020, the Company, in collaboration with its joint venture spouse Sumitomo Metal Mining Co.Ltd., announced the resolution to continue with the structure of the assignment of Cété Gold.
IAMGOLD is committed to maintaining its culture of accountable mining through high standards of ESG practices and employs approximately 5,000 people. IAMGOLD’s commitment is to Zero Harm, in every aspect of its business. IAMGOLD is one of the companies on the JSI index.
IAMGOLD is indexed on the Toronto Stock Exchange (IMG) and the New York Stock Exchange (IAG trading).
For information, contact:
Indi Gopinathan, Vice President, Investor Relations and Corporate Communications, IAMGOLD Corporation Tel: (416) 360-4743 Mobile: (416) 388-6883
Philip Rabenok, Senior Analyst, Investor Relations, IAMGOLD Corporation Phone: (416) 933-5783 Mobile: (647) 967-9942
Toll Free: 1-888-464-9999 [email protected]
Please note:
If you would like to download the French edition of this press release, please visit www.iamgold.com/French/Home/default.aspx.
Table 1 For a preview of Table 1, visit: https://orders.newsfilecorp.com/files/6077/62164_c43f6a1b848c09de_001full.jpg
Observations:
It is estimated that the width of the intersections is approximately 70 to 90% of the central range.
The intersections of the wells are calculated with a decreasing cut of 1.00 g /t Au and would possibly involve decreasing slope periods of up to 3 meters in length.
Tests are reported uncut, but sub-components are highlighted.
Drilling holes with the W suffix are corner cuts of already drilled holes.
Figure 1: Rouyn Gold – Gamble Lake Longitudinal Cut and Highlighting 2020 Test Results
For a preview of Figure 1, visit: https://orders.newsfilecorp.com/files/6077/62164_c43f6a1b848c09de_002full.jpg
To see the original edition of this press release, https://www.newsfilecorp.com/release/62164