(MENAFN- Newsfile Corp) IAMGOLD Intersects Mineralization Along Strike of the Saramacca Deposit and Reports First Drill Results from Brokolonko
Toronto, Ontario--(Newsfile Corp. - November 8, 2018) - IAMGOLD Corporation (TSX: IMG) ("IAMGOLD" or the "Company") today provided an update from its ongoing 2018 exploration drilling program along the Saramacca - Brokolonko trend, located 25 kilometres southwest of its Rosebel Gold Mine ("RGM") in Suriname.
With the declaration of mineral reserves at the Saramacca deposit (see news release dated September 23, 2018) the Company has been conducting exploration drilling in selected target areas along the Saramacca - Brokolonko trend with the objective to discover additional zones of mineralization. The Company is reporting results from 27 drill holes, totaling 4,643 metres, completed in 2018 to the northwest along strike of the Saramacca deposit, and results from relevant reconnaissance drilling and surface trenching carried out between 2014 and 2016 on the adjacent Sarafina-Moeroekreek concession. Reconnaissance drill holes and trenches reported herein consist of 16 holes, totaling 2,415 metres, and four trenches with a total length of 206 metres. Results from a further 45 drill holes, totaling 7,069 metres, completed in 2018 to test exploration targets on the Brokolonko concession are also disclosed.
Assay intersections relating to this release are provided in Tables 1, 2 and 3.
Saramacca Concession:
Mineralization representing a potential new zone has been intersected by wide spaced drilling approximately 400 metres northwest along strike of the Saramacca deposit extending for at least 1,200 metres of strike length to the northwest onto the adjacent Sarafina - Moeroekreek concession.
Highlights from the 2018 exploration program on Saramacca include:
SMDD18-288: 10.5 metres grading 1.38 g/t Au SMDD18-290: 7.5 metres grading 1.11 g/t Au and 6.0 metres grading 3.90 g/t Au
SMDD18-291: 7.5 metres grading 4.58 g/t Au and 10.5 metres grading 1.73 g/t Au
SMDD18-292: 16.5 metres grading 1.12 g/t Au SMDD18-298: 16.8 metres grading 1.03 g/t Au Highlights from the 2014- 2016 program on Sarafina - Moeroekreek include:
MODD14-02: 12.8 metres grading 2.74 g/t Au MODD14-06: 10.5 metres grading 0.93 g/t Au and 10.5 metres grading 1.32 g/t Au
MODD14-07: 4.5 metres grading 3.07 g/t Au Brokolonko Concession:
Drilling has confirmed the presence of mineralization in the bed rock associated with an aerially extensive, historic auger geochemical anomaly and the site of widespread small-scale mining. Highlights include:
BKDD18-009: 9.0 metres grading 0.96 g/t Au BKDD18-014: 3.0 metres grading 5.69 g/t Au and, 13.5 metres grading 0.51 g/t Au
BKDD18-015: 1.5 metres grading 22.82 g/t Au BKDD18-019: 1.1 metres grading 88.55 g/t Au
BKRC18-003: 8.0 metres grading 1.17 g/t Au BKRC18-018: 26.0 metres grading 0.59 g/t Au BKRC18-019: 4.0 metres grading 1.35 g/t Au and, 6.0 metres grading 2.72 g/t Au
(Figures 1 and 2 show drill hole plan maps for the Saramacca and Brokolonko concessions)
Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated, "While still early days, our ongoing exploration efforts targeting new areas along the Saramacca - Brokolonko trend are already delivering encouraging results and confirm the regional potential for further discoveries. These initial results suggest the presence of a potential new zone of mineralization along strike of the Saramacca deposit, and have also yielded the first indications of gold bearing structures on the highly prospective Brokolonko concession."
Added Steve Letwin, IAMGOLD's President and CEO, "I can't begin to say how excited I am with the steady progress that's being made towards expanding resources at Saramacca. The continuation of positive results on the property, and now for the first time at Brokolonko, further validate our strategy to transform Rosebel."
2018 Exploration and Development Program
Exploration activities at the Saramacca Project culminated with the declaration of reserves in the third quarter 2018. As at September 23, 2018, Saramacca hosted estimated mineral reserves, on a 100% basis, comprising proven and probable reserves of 26.5 million tonnes, grading 1.8 g/t Au for 1.54 million ounces of contained gold. Also on a 100% basis, indicated resources (inclusive of reserves) were estimated at 27.9 million tonnes, grading 2.0 g/t Au for 1.76 million ounces of gold, and inferred resources, on a 100% basis, of 11.8 million tonnes, grading 0.7 g/t Au for 273,000 ounces of gold. (see news release dated September 23, 2018).
An Environmental and Social Impact Study ("ESIA") to support permitting has been submitted to Surinamese environmental regulators, and ongoing technical studies at various levels of advancement, ranging from pre-feasibility to detailed engineering continue. Construction has been initiated for various elements of the Project. Firm orders have been placed for the acquisition of the mine haulage fleet, and the haul road between the Saramacca deposit and RGM is currently in the final phases of detailed engineering. On-going optimization studies including pit slope dewatering, slope design improvements and metallurgical testing to further optimize recoveries will continue in the fourth quarter 2018. The Saramacca Project is on track, with mining expected to commence in the second half of 2019.
Exploration drilling will continue to evaluate the resource potential of the new zone located northwest along strike of the Saramacca deposit, as well as to evaluate the underground potential of high-grade mineralization previously intersected below the current Saramacca resource pit shell. Regionally, exploration activities are continuing to explore the highly prospective Saramacca - Brokolonko trend for additional zones of mineralization and to evaluate the resource potential of new discoveries as merited.
About the Saramacca - Brokolonko Projects
The Saramacca - Brokolonko concessions are strategically located approximately 25 to 30 kilometres southwest of the RGM milling facility, which, together with the Sarafina - Moeroekreek concession, cover approximately 24 kilometres of the regional northwest trending Saramacca shear zone which hosts the Saramacca deposit and is believed to be an important deformation zone for the localization of gold mineralization.
The concessions fall within the "UJV" area as defined in an Agreement with the Government of Suriname announced on April 15, 2013. The Agreement commits the parties to establishing a joint venture growth vehicle under which RGM 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 Caroline Laplante, P. Geo., Country Exploration Manager of 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 and surface grab and trench chip samples are 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 three meters depending on the geological observations with the majority of samples being one and a half metres in length.
RC samples (5 5/8' bit) are collected using a cone splitter, weighted at the rig with chip samples taken from the material for geological description and future reference.
Samples are transported in sealed bags to FILAB in Paramaribo, Suriname, an independent commercial representative lab of ALS with an ISO 9001 (2015) certification. 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 (or 30 gram for 2014-2016 recon work in Moeroekreek) charge and an Atomic Absorption (AA) finish, and since phase II 2017 a gravimetric finish when grade exceeds 5 ppm. IAMGOLD inserts blanks and certified reference standard for quality control. All results stated in this announcement have passed IAMGOLD quality assurance and quality control protocols.
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.
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
Please note:
This entire news release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through Newsfile's website at www.newsfilecorp.com . 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 from the 2018 Saramacca Exploration Drilling Program
HOLE-ID Local UTM grid, Zone 21 N End of
hole (m) Azimuth
(°) Dip
(°) From
(m) To
(m) Interval
(m) True
Width
(m) Au
(g/t)
Easting Northing Elev.
SMDD18-275 677949 545167 70.536 258.0 215 -50 202.5 206.6 4.10 3.16 0.34
SMDD18-276 677992 545194 68.023 204.0 35 -50 133.5 136.5 3.0 1.87 5.71
SMDD18-277 678377 544907 170.767 294.0 35 -50 0 22.5 22.5 12.72 0.74
SMDD18-277
61.0 67.5 6.5 3.74 0.71
SMDD18-278 678970 543927 361.165 126.0 35 -50 0.00 10.50 10.50 5.81 0.41
SMDD18-279 679384 543299 359.100 150.0 35 -50 No significant interval
SMDD18-280 679345 543245 347.864 153.0 35 -50 No significant interval
SMDD18-281 679317 542858 431.806 180.0 35 -50 151.5 157.50 6.00 3.05 0.55
SMDD18-282 679373 542935 413.146 165.0 35 -50 58.5 67.50 9.00 4.45 1.02
SMDD18-283 677834 545354 108.089 150.0 215 -50 No significant interval
SMDD18-284 677835 545353 108.103 156.0 35 -50 No significant interval
SMDD18-285 677793 545300 114.322 150.0 215 -50 127.0 133.50 6.50 4.62 2.75
SMDD18-286 677997 545054 115.134 219.0 215 -50 178.5 184.50 6.00 4.12 1.34
SMDD18-287 677142 545761 289.82 151.5 35 -50 No significant interval
SMDD18-288 677201 545826 274.33 196.5 35 -50 156.0 166.5 10.50 5.80 1.38
SMDD18-289 677245 545889 268.62 192.0 35 -50 85.50 88.50 3.00 1.62 0.87
SMDD18-290 677304 545991 257.32 160.5 35 -50 54.00 61.50 7.50 4.27 1.11
66.00 72.00 6.00 3.41 3.90
151.5 156.00 4.50 2.52 1.79
SMDD18-291 677354 546071 243.64 165.0 35 -50 28.50 36.00 7.50 4.08 4.58
49.50 52.50 3.00 1.64 2.79
66.00 76.50 10.50 5.70 1.73
91.50 96.00 4.50 2.45 0.78
118.5 121.50 3.00 1.62 1.04
133.5 138.00 4.50 2.43 0.49
SMDD18-292 677411 546149 216.59 150.0 35 -50 34.50 51.00 16.50 9.05 1.12
SMDD18-293 677604 545728 218.02 157.5 35 -50 94.50 97.60 3.10 1.60 0.45
SMDD18-294 677557 545661 256.60 153.0 35 -50 79.50 82.50 3.00 1.60 0.96
SMDD18-295 677505 545591 253.25 154.5 35 -50 15.00 18.00 3.00 1.64 0.81
SMDD18-296 677440 545503 236.95 180.0 35 -50 121.5 124.50 3.00 1.62 1.36
159.0 162.00 3.00 1.68 0.72
SMDD18-297 677393 545434 250.24 150.0 35 -50 No significant interval
SMDD18-298 677596 545351 219 150.0 35 -50 76.50 81.00 4.50 2.45 0.67
87.00 103.80 16.80 8.72 1.03
SMDD18-299 677636 545431 178 150.0 35 -50 No significant interval
SMDD18-300 677685 545502 192 150.0 35 -50 No significant interval
SMDD18-301 677745 545577 187 177.0 35 -50 No significant interval
Notes:
Drill hole intercepts are calculated using a 0.30 g/t Au assay cut-off and 3m minimum length, with no assay capping. True widths are estimated from intersected geometries. Table 2: Diamond and Reverse Circulation Drill Hole and Surface Exploration Trench Assay Results
from the 2014- 2016 Exploration Program on Sarafina - Moeroekreek Concession. Moeroekreek (Tigri) Exploration DDH Drilling, years 2014-2015
HOLE-ID Local UTM grid, Zone 21 N End of
hole (m) Azimuth
(°) Dip
(°) From
(m) To
(m) Interval
(m) True
Width
(m) Au
(g/t)
Easting Northing Elev.
MODD14-01 677251 546390 122 54.0 215 -50 No significant interval
MODD14-02 677188 546311 165 156.0 35 -50 3.0 6.0 3.0 1.64 0.33
53.25 66.0 12.75 6.96 2.74
MODD14-03 677320 546541 65 150.0 35 -50 No significant interval
MODD14-04 677053 546753 93 153.0 35 -50 No significant interval
MODD14-05 677015 546678 126 150.0 35 -50 No significant interval
MODD14-06 677187 546311 165 150.0 215 -50 18.0 28.5 10.5 7.06 0.93
80.5 84.0 3.5 2.35 0.49
103.0 113.5 10.5 7.11 1.32
MODD14-07 676953 546604 130 153.0 35 -50 117.0 121.5 4.5 2.46 3.07
MODD14-08 676905 546526 133 153.0 35 -50 46.5 54.0 7.5 4.01 0.47
90.0 94.5 4.5 2.40 0.46
MODD14-09 676862 546452 172.8 177.0 35 -50 130.0 134.0 4.0 2.16 0.25
MODD14-10 676813 546385 177 162.0 35 -50 No significant interval
MODD14-11 676753 546308 183 156.0 35 -50 No significant interval
MODD15-18 677094 546485 145 153 35 -50 52.5 55.5 3.0 1.46 0.87
81.0 84.0 3.0 1.47 1.96
MODD15-19 677050 546407 135 183 35 -50 No significant interval
MODD15-20 676999 546345 104 165 35 -50 No significant interval
Moeroekreek (Tigri) Exploration RC Drilling, year 2015
HOLE-ID Local UTM grid End of
hole (m) Azimuth
(°) Dip
(°) From
(m) To
(m) Interval
(m) True
Width
(m)3 Au
(g/t)
Easting Northing Elev.
MORC15-25 677300 546478 99 150 35 -50 No significant interval
MORC15-26 677294 546465 85 150 215 -50 No significant interval
Moeroekreek (Tigri) Exploration Trenches, year 2016
HOLE-ID Local UTM grid Length
(m) Azimuth
(°) Dip
(°) From
(m) To
(m) Interval
(m) True
Width
(m)3 Au
(g/t)
Easting Northing Elev.
MOTR16-11 677112 546271 153.53 80
10.0 14.0 4.0 3.65 0.62
48.0 52.0 4.0 3.66 7.76
56.0 66.0 10.0 9.07 3.34
70.0 74.0 4.0 3.59 0.87
MOTR16-12 677260 546450 88.01 62
No significant interval
MOTR16-13 677406 546615 101.69 24
No significant interval
MOTR16-14 677353 546625 93 40
No significant interval
Notes:
The 2014-2016 drill hole and trench intercepts are uncapped with no minimal length applied. Table 3: Diamond and Reverse Circulation Drill Hole Assay Results from the 2018 Brokolonko Drilling Program.
Brokolonko Exploration DDH Drilling, year 2018 (*)
HOLE-ID Local UTM grid, Zone 21 N End of hole (m) Azimuth
(°) Dip
(°) From
(m) To
m) Interval (m) True Width
(m) Au
(g/t)
Easting Northing Elev.
BKDD18-001 661100 555780 108.22 150 30 -50 3.60 7.50 3.90 2.22 0.51
BKDD18-002 661148 555865 88.03 171 30 -50 159.0 163.5 4.50 2.76 1.87
BKDD18-003 661327 555764 60.79 153 30 -50 No significant interval
BKDD18-004 661082 555332 64.15 165 30 -50 No significant interval
BKDD18-005 661173 555499 73.58 159 30 -50 0.0 3.0 3.0 1.71 0.50
BKDD18-006 661208 555579 78.68 180 30 -50 No significant interval
BKDD18-007 661273 555671 59.34 150 30 -50 0.0 7.50 7.50 4.27 0.43
BKDD18-008 661234 555240 50.37 150 30 -50 No significant interval
BKDD18-009 661126 555422 63.39 150 30 -50 127.5 136.5 9.0 5.11 0.96
BKDD18-010 661369 555322 57.94 150 30 -50 0.0 3.0 3.0 1.71 0.37
117.2 122.9 5.7 3.32 0.35
130.5 133.5 3.0 1.76 0.52
BKDD18-011 661402 555441 53.05 171 30 -50 6.0 9.0 3.0 1.74 0.38
147.0 150.0 3.0 1.73 0.95
BKDD18-012 661536 555309 95.64 150 30 -50 54.0 60.0 6.0 3.10 0.49
BKDD18-013 661471 555230 77.08 150 30 -50 46.5 52.5 6.0 3.43 0.19
BKDD18-014 661427 555140 48.08 180 30 -50 72.0 75.0 3.0 1.92 5.69
151.5 165.0 13.5 8.22 0.51
BKDD18-015** 662100 555112 65.90 213 30 -50 148.5 150.0 1.5
22.82
BKDD18-016 662048 555023 70.62 180 30 -50 No significant interval
BKDD18-017 661996 554943 62.50 150 30 -50 No significant interval
BKDD18-018 661950 554855 50.28 159 30 -50 No significant interval
BKDD18-019** 661897 554769 47.47 153 30 -50 47.0 48.1 1.1
88.55
BKDD18-020 661718 554840 48.34 150 30 -50 No significant interval
BKDD18-021 661544 554924 48.92 179 30 -50 No significant interval
BKDD18-022 661769 554931 51.95 180 30 -50 No significant interval
BKDD18-023 661820 555008 74.90 183 30 -50 0.0 6.0 6.0 3.44 0.69
BKDD18-024 661659 555158 72.09 171 30 -50 0.0 7.5 7.5 4.29 0.24
BKDD18-025 661661 555160 72.12 180 210 -50 9.0 15.0 6.0 4.24 0.29
Brokolonko Exploration RC Drilling, year 2018
HOLE-ID Local UTM grid, Zone 21 N End of
hole (m) Azimuth
(°) Dip
(°) From
(m) To
(m) Interval
(m) True
Width
(m) Au
(g/t)
Easting Northing Elev.
BKRC18-001 660361 554901 51.13 130.0 30 -50 50.00 54.00 4.00 2.42 0.46
BKRC18-002 660409 554980 39.93 128.0 30 -50 No significant interval
BKRC18-003 660356 555301 105.16 150.0 30 -50 16.0 24.0 8.0 4.84 1.17
30.0 44.0 14.0 8.28 0.40
54.0 60.0 6.0 3.59 0.42
BKRC18-004 660304 555223 64.72 150.0 30 -50 No significant interval
BKRC18-005 660173 555347 53.56 150.0 30 -50 32.0 46.0 14.0 8.54 0.49
54.0 68.0 14.0 8.57 0.48
76.0 84.0 8.0 4.96 0.91
BKRC18-006 660113 555272 46.49 134.0 30 -50 No significant interval
BKRC18-007 660218 555445 66.43 150.0 30 -50 No significant interval
BKRC18-008 660458 555071 53.86 150.0 30 -50 No significant interval
BKRC18-009 660508 555145 52.81 150.0 30 -50 52.0 56.0 4.0 2.32 0.97
BKRC18-010 660545 555232 55.60 150.0 30 -50 No significant interval
BKRC18-011 660649 555015 87.33 150.0 30 -50 38.0 44.0 6.0 3.66 0.71
BKRC18-012 660748 555076 110.74 150.0 30 -50 No significant interval
BKRC18-013 660782 555171 124.36 150.0 30 -50 102.0 108.0 6.0 3.37 0.31
BKRC18-014 660805 555255 108.23 150.0 30 -50 6.0 18.0 12.0 7.38 0.50
BKRC18-015 660374 555403 103.52 150.0 30 -50 28.0 32.0 4.0 2.50 1.10
36.0 40.0 4.0 2.52 0.33
44.0 48.0 4.0 2.54 0.54
BKRC18-016 660752 555585 113.13 150.0 30 -50 No significant interval
BKRC18-017 660809 555662 115.97 150.0 30 -50 No significant interval
BKRC18-018 660954 555528 122.53 150.0 30 -50 90.0 116.0 26.0 17.45 0.59
BKRC18-019 660999 555614 112.71 150.0 30 -50 122.0 126.0 4.0 2.59 1.35
132.0 138.0 6.0 3.88 2.72
142.0 148.0 6.0 3.88 0.83
BKRC18-020 661053 555698 96.45 150.0 30 -50 0.0 8.0 8.0 4.71 0.92
Notes:
Drill hole intercepts are calculated using a 0.30 g/t Au assay cut-off and 3m minimum length. Intercepts with a value of ≥ 5g/t have been analyzed by gravimetric and included in the table. True widths are estimated from intersected geometries considering a 125/85 structure. No minimal length applied to BKDD18-015 and BKDD18-019 Figure 1: Saramacca Northwest Extension Drill Hole Plan with Significant Intersects Figure 1, please visit:
https://orders.newsfilecorp.com/files/6077/40961_2a4d14db04fb9a4f_001full.jpg
Figure 2: Brokolonko Drill Hole Plan with Significant Intersects from Year 2018 Drilling Program
Figure 2, please visit:
https://orders.newsfilecorp.com/files/6077/40961_2a4d14db04fb9a4f_002full.jpg
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