TSX: IMG NYSE: IAG
TORONTO, May 15, 2017 /PRNewswire/ - IAMGOLD
Corporation ("IAMGOLD" or the "Company") today provided an
update from its 2017 infill drilling program at the Saramacca
project, located 25 kilometres southwest of its Rosebel Gold Mine
("RGM") in Suriname. The current phase of the 2017 infill
delineation drilling program is now complete with 113 diamond drill
holes totaling approximately 19,600 metres. Assay results
have been received from 78 drill holes totaling 14,166 metres,
including 49 drill holes totaling 8,158 metres reported herein (see
previous news release dated March 29th,
2017). Assay results from the remaining drill holes are
expected in June and will be reported once they are validated and
compiled.
The assay intersections including capped composites and
estimated true widths are provided in Table 1 and include the
following highlights:
(A drill hole plan map and select drill sections are attached to
this news release.)
- SMDD17-138: 43.5 metres grading 12.26 g/t Au
- SMDD17-110: 76.6 metres grading 7.74 g/t Au
- SMDD17-130: 46.5 metres grading 3.07 g/t Au
- SMDD17-133: 45.4 metres grading 2.38 g/t Au
- SMDD17-097: 45.0 metres grading 2.70 g/t Au
- SMDD17-125: 31.0 metres grading 3.81 g/t Au
"The results to date support our belief that Saramacca has the
potential to be a transformational asset for the Company," said
President and CEO of IAMGOLD Steve Letwin. "This exemplifies our
strategy of seeking short-cycle capacity, which can add tremendous
value for our shareholders at minimal incremental cost, since the
deposit is only 25 kilometres away from our current
infrastructure."
Craig MacDougall, Senior Vice
President, Exploration for IAMGOLD, stated: "I want to congratulate
the exploration team for completing this important program in such
a timely manner and without a reported safety incident. The
additional assay results continue to impress and highlight numerous
intersections with high grades of gold over wide intervals, both
enhancing our confidence in and understanding of the mineralized
zones. As previously stated, all results will be
incorporated into an initial resource estimation expected for
completion in Q3 2017."
2017 Exploration
Program
Drilling to date has confirmed the presence of multiple
mineralized structures within an approximately 2-kilometre long and
600-metre wide corridor. Mineralization occurs in the near surface
oxidized weathering profile to depths ranging from 50 to 100
metres, as well as deeper in the primary sulphide zones and remains
open along strike and at depth. In the deposit area, three
mineralization styles are recognized from the drilling completed to
date: breccia hosted mineralization characterized by jigsaw,
crackle and matrix supported breccias; shear hosted mineralization
characterized by well-developed pyritic disseminations and
stringers; and irregular pyrite-quartz-carbonate veins which
locally carry high gold grades.
The 2017 50 x 50 metre infill drilling program has been
completed and further drilling activities will await the completion
of the seasonal rains which have commenced. Results to date and
those still pending will be incorporated into a deposit model to
support an initial National Instrument 43-101 resource estimate
expected for completion by the third quarter 2017. Additional
exploration potential exists at depth and along strike and will be
tested in future drilling programs.
Preliminary engineering and permitting studies have commenced to
support and develop future exploitation scenarios.
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 dacite, rhyolite, basalt and andesite lithologies in
the project area. These are traversed by the regional,
northwest trending Saramacca shear zone, an important deformation
zone for the localization of gold mineralization.
The Saramacca property has been explored since the 1990's
principally by Golden Star Resources Ltd. ("Golden Star") and later
as a joint venture between Golden
Star and Newmont Mining Corporation. Much of that work
focused on the discovery and delineation of Anomaly M, which was
the subject of successive auger and diamond drilling programs with
over 50 diamond drill holes and over 200 auger holes completed in
the anomaly area. Evaluation of this work suggests an exploration
target potential of between 8 and 40 million tonnes grading between
1.0 and 1.8 g/t Au for potentially 0.5 to 1.4 million contained
ounces of gold. The potential quantity and grade are conceptual in
nature and insufficient exploration work has been completed to date
to define a mineral resource. The property will require significant
future exploration to advance to a resource stage and there can be
no certainty that the exploration target will result in a mineral
resource being defined.
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.
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 Ian Stockton,
MAusIMM, FAIG, RP. Geo., Exploration Manager for IAMGOLD in
Suriname. He 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
HOLE-ID
|
Local
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
|
Elevation
|
SMDD17-096
|
32215
|
64071
|
802
|
183.0
|
250
|
-50
|
126.5
|
144.5
|
18.0
|
10.0
|
1.79
|
1.79
|
SMDD17-097
|
32021
|
64231
|
770
|
94.0
|
250
|
-50
|
12.0
|
57.0
|
45.0
|
24.0
|
2.70
|
2.70
|
SMDD17-098
|
Disclosed in
previous press release (March 29th)
|
SMDD17-099
|
32224
|
63998
|
826
|
102.0
|
215
|
-50
|
No significant
results
|
SMDD17-100
|
31928
|
64527
|
717
|
136.5
|
215
|
-50
|
No significant
results
|
SMDD17-101
|
32844
|
63315
|
901
|
278.0
|
215
|
-50
|
0.0
|
7.0
|
7.0
|
4.0
|
2.20
|
2.20
|
|
|
|
|
|
|
|
196.0
|
216.5
|
20.5
|
11.0
|
4.18
|
4.18
|
|
|
|
|
|
|
|
243.0
|
262.3
|
19.3
|
10.0
|
2.60
|
2.60
|
SMDD17-102
|
32249
|
64033
|
807
|
156.0
|
215
|
-47
|
121.0
|
130.0
|
9.0
|
5.0
|
0.55
|
0.55
|
SMDD17-103
|
32041
|
64259
|
754
|
23.5
|
215
|
-50
|
0.0
|
7.0
|
7.0
|
4.0
|
0.49
|
0.49
|
SMDD17-104
|
32120
|
64371
|
725
|
314.0
|
215
|
-47
|
25.5
|
31.5
|
6.0
|
4.0
|
0.80
|
0.80
|
|
|
|
|
|
|
|
96.0
|
123.5
|
27.5
|
17.0
|
1.20
|
1.20
|
|
|
|
|
|
|
|
159.0
|
165.5
|
6.5
|
4.0
|
0.48
|
0.48
|
|
|
|
|
|
|
|
252.5
|
261.5
|
9.0
|
6.0
|
1.07
|
1.07
|
SMDD17-105
|
32342
|
63991
|
817
|
87.0
|
215
|
-50
|
39.0
|
47.5
|
8.5
|
4.0
|
4.75
|
4.75
|
SMDD17-106
|
32341
|
63815
|
876
|
90.0
|
215
|
-50
|
No significant
results
|
SMDD17-107
|
32435
|
63777
|
881
|
150.0
|
215
|
-50
|
0.0
|
12.0
|
12.0
|
7.0
|
4.55
|
4.55
|
|
|
|
|
|
|
|
96.5
|
117.5
|
21.0
|
11.0
|
2.57
|
2.57
|
SMDD17-108
|
31799
|
64607
|
691
|
163.5
|
0
|
0
|
13.5
|
19.5
|
6.0
|
3.0
|
0.55
|
0.55
|
SMDD17-109
|
32819
|
63193
|
914
|
138.5
|
215
|
-50
|
13.0
|
22.0
|
9.0
|
5.0
|
0.61
|
0.61
|
|
|
|
|
|
|
|
74.0
|
98.0
|
24.0
|
13.0
|
2.02
|
2.02
|
SMDD17-110
|
32360
|
63844
|
865
|
124.5
|
215
|
-50
|
0.9
|
77.5
|
76.6
|
41.0
|
7.74
|
7.74
|
SMDD17-111
|
31772
|
64569
|
694
|
109.5
|
215
|
-47
|
0.0
|
6.0
|
6.0
|
3.0
|
0.62
|
0.62
|
SMDD17-112
|
32868
|
63263
|
901
|
251.0
|
0
|
0
|
2.0
|
19.0
|
17.0
|
8.0
|
1.65
|
1.65
|
|
|
|
|
|
|
|
28.0
|
34.0
|
6.0
|
3.0
|
0.68
|
0.68
|
|
|
|
|
|
|
|
74.5
|
89.5
|
15.0
|
8.0
|
1.04
|
1.04
|
|
|
|
|
|
|
|
203.5
|
217.0
|
13.5
|
7.0
|
3.82
|
3.82
|
|
|
|
|
|
|
|
223.0
|
244.0
|
21.0
|
11.0
|
1.63
|
1.63
|
SMDD17-113
|
32382
|
63788
|
877
|
142.5
|
215
|
-50
|
No significant
results
|
SMDD17-114
|
31777
|
64480
|
697
|
110.0
|
35
|
-50
|
No significant
results
|
SMDD17-115
|
32306
|
63685
|
883
|
190.5
|
35
|
-50
|
156.0
|
166.5
|
10.5
|
6.0
|
3.08
|
3.08
|
SMDD17-116
|
32137
|
64214
|
761
|
231.0
|
215
|
-50
|
No significant
results
|
SMDD17-117
|
32822
|
63025
|
868
|
154.0
|
35
|
-50
|
No significant
results
|
SMDD17-118
|
32151
|
64239
|
748
|
257.0
|
215
|
-50
|
101.5
|
106.5
|
5.0
|
3.0
|
2.20
|
2.20
|
SMDD17-119
|
32397
|
63635
|
894
|
159.0
|
35
|
-50
|
111.0
|
117.1
|
6.1
|
3.0
|
0.46
|
0.46
|
|
|
|
|
|
|
|
123.0
|
129.0
|
6.0
|
3.0
|
4.30
|
4.30
|
|
|
|
|
|
|
|
136.5
|
144.1
|
7.6
|
4.0
|
0.42
|
0.42
|
SMDD17-120
|
32912
|
63155
|
899
|
155.5
|
35
|
-50
|
85.0
|
91.5
|
6.5
|
4.0
|
2.21
|
2.21
|
SMDD17-121
|
32524
|
63735
|
865
|
253.5
|
215
|
-50
|
No significant
results
|
SMDD17-122
|
32043
|
64255
|
754
|
164.0
|
215
|
-50
|
111.5
|
126.5
|
15.0
|
8.0
|
5.45
|
5.45
|
SMDD17-123
|
32776
|
63221
|
915
|
127.0
|
215
|
-50
|
No significant
results
|
SMDD17-124
|
32647
|
63555
|
895
|
196.0
|
215
|
-50
|
0.0
|
9.5
|
9.5
|
5.0
|
1.92
|
1.92
|
|
|
|
|
|
|
|
170.5
|
185.5
|
15.0
|
8.0
|
0.97
|
0.97
|
SMDD17-125
|
32062
|
64288
|
739
|
239.0
|
215
|
-48
|
148.0
|
179.0
|
31.0
|
18.0
|
3.81
|
3.81
|
HOLE-ID
|
Local
Grid
|
End of hole
(m)
|
Azimuth
(°)
|
Dip
(°)
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True Width
(m)
|
Au
(g/t)
|
Au (g/t)
(capped at 30
g/t Au)
|
SMDD17-126
|
32503
|
63699
|
866
|
181.5
|
215
|
-50
|
0.0
|
8.4
|
8.4
|
5.0
|
2.99
|
2.99
|
|
|
|
|
|
|
|
63.2
|
70.5
|
7.3
|
4.0
|
6.23
|
6.23
|
|
|
|
|
|
|
|
138.0
|
146.3
|
8.3
|
4.0
|
2.79
|
2.79
|
SMDD17-127
|
31920
|
64476
|
729
|
145.5
|
215
|
-50
|
1.5
|
9.4
|
7.9
|
4.0
|
0.73
|
0.73
|
|
|
|
|
|
|
|
78.0
|
84.8
|
6.8
|
4.0
|
1.32
|
1.32
|
SMDD17-128
|
32628
|
63528
|
899
|
178.5
|
215
|
-50
|
0.0
|
8.9
|
8.9
|
5.0
|
5.75
|
5.75
|
|
|
|
|
|
|
|
98.0
|
106.5
|
8.5
|
5.0
|
0.57
|
0.57
|
|
|
|
|
|
|
|
125.0
|
136.5
|
11.5
|
6.0
|
4.05
|
4.05
|
SMDD17-129
|
32307
|
63684
|
883
|
175.5
|
35
|
-50
|
154.3
|
163.5
|
9.2
|
5.0
|
8.15
|
8.15
|
SMDD17-130
|
32083
|
64317
|
724
|
261.0
|
215
|
-50
|
0.0
|
7.5
|
7.5
|
4.0
|
0.49
|
0.49
|
|
|
|
|
|
|
|
93.0
|
100.5
|
7.5
|
4.0
|
1.27
|
1.27
|
|
|
|
|
|
|
|
123.0
|
138.0
|
15.0
|
9.0
|
1.24
|
1.24
|
|
|
|
|
|
|
|
163.5
|
171.0
|
7.5
|
5.0
|
0.48
|
0.48
|
|
|
|
|
|
|
|
180.0
|
226.5
|
46.5
|
30.0
|
3.07
|
3.07
|
SMDD17-131
|
32603
|
63494
|
905
|
96.0
|
215
|
-50
|
No significant
results
|
SMDD17-132
|
32482
|
63669
|
866
|
87.0
|
215
|
-50
|
39.0
|
52.5
|
13.5
|
8.0
|
3.61
|
3.61
|
SMDD17-133
|
31821
|
64380
|
725
|
178.5
|
35
|
-50
|
119.6
|
165.0
|
45.4
|
30.0
|
2.38
|
2.38
|
SMDD17-134
|
32603
|
63322
|
916
|
180.0
|
35
|
-50
|
109.0
|
133.5
|
24.5
|
16.0
|
3.13
|
3.13
|
SMDD17-135
|
32614
|
63683
|
877
|
348.0
|
215
|
-50
|
232.5
|
238.5
|
6.0
|
3.0
|
2.13
|
2.13
|
SMDD17-136
|
31901
|
64406
|
744
|
76.5
|
215
|
-53
|
No significant
results
|
SMDD17-137
|
32792
|
63067
|
881
|
168.0
|
35
|
-50
|
106.5
|
112.5
|
6.0
|
4.0
|
0.89
|
0.89
|
|
|
|
|
|
|
|
126.0
|
133.5
|
7.5
|
4.0
|
0.93
|
0.93
|
SMDD17-138
|
31892
|
64221
|
771
|
243.0
|
215
|
-50
|
151.5
|
195.0
|
43.5
|
22.0
|
12.26
|
5.52
|
SMDD17-139
|
32767
|
63034
|
876
|
207.0
|
35
|
-50
|
116.0
|
133.5
|
17.5
|
11.0
|
0.93
|
0.93
|
|
|
|
|
|
|
|
150.0
|
157.6
|
7.6
|
5.0
|
0.90
|
0.90
|
|
|
|
|
|
|
|
178.5
|
187.5
|
9.0
|
6.0
|
4.84
|
4.84
|
SMDD17-140
|
32129
|
64123
|
804
|
120.5
|
215
|
-50
|
No significant
results
|
SMDD17-141
|
32843
|
63054
|
873
|
99.0
|
35
|
-50
|
No significant
results
|
SMDD17-142
|
32694
|
63363
|
899
|
168.0
|
215
|
-50
|
1.2
|
10.5
|
9.4
|
4.9
|
4.71
|
4.71
|
SMDD17-144
|
32577
|
63545
|
902
|
144.0
|
215
|
-50
|
No significant
results
|
SMDD17-145
|
31915
|
64427
|
737
|
100.5
|
215
|
-50
|
No significant
results
|
SMDD17-146
|
32695
|
63451
|
890
|
220.5
|
215
|
-50
|
0.0
|
5.9
|
5.9
|
3.0
|
0.36
|
0.36
|
|
|
|
|
|
|
|
134.4
|
148.3
|
13.9
|
7.0
|
4.81
|
4.81
|
|
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
|
SOURCE IAMGOLD Corporation