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IAMGOLD Corp.
Summary
| Project: | Essakane Mine | |
|---|---|---|
| Deposit: | Essakane Mine | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 2/22/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 22-2-2017: IAMGOLD Corp. announces a Resource Estimation report for its Essakane Mine deposit at the Essakane Mine project. Year end 2016 update of resources and reserves. Toronto, Ontario, February 22, 2017 – IAMGOLD Corporation (“IAMGOLD” or “the Compan | |
| Resources: | (Reserve, Prob.): 89.676Mt @ 1.10g/t Au for 3.311Moz Au contained | |
| CP/QP: | [Resources]: Lise Chenard (Internal) | |
| ABSTRACT: | Toronto, Ontario, February 22, 2017 – IAMGOLD Corporation (“IAMGOLD” or “the Company”) today announced its 2016 year-end mineral reserve and resource statement. (See attached table for more details.) Total attributable proven and probable gold reserves increased by 1% from 7.7 million ounces of gold at the end of 2015 to 7.8 million ounces at the end of 2016. The addition of 108,000 ounces was primarily due to the increase in reserves at Westwood and Essakane, partially offset by depletion during the year given the Company's attributable gold production of 813,000 ounces. There was no change in the $1,200 per ounce gold price assumption for estimating mineral reserves at the Company’s owned and operated mines. Total attributable measured and indicated gold resources (inclusive of reserves) decreased overall by 0.6% or 150,000 ounces to 23.3 million ounces of gold at the end of 2016. There was also no change in the gold price assumption for estimating mineral resources at Essakane and Rosebel ($1,500 per ounce) or at Westwood ($1,200 per ounce). Steve Letwin, President and CEO of IAMGOLD, commented, “In 2016, we identified and advanced high potential targets throughout our project pipeline, including areas surrounding our existing operations and at our advanced exploration projects. The results from this work were most evident at Westwood where we were able to increase reserves year over year by 75%, and where we expect to accelerate the conversion of resource to reserves as we extend our underground development and open up new drill sites. I thank Westwood for their excellent work to increase their reserves and resources, thank Essakane for improving their mine design and costs and congratulate the Exploration and Project Development teams for building such a strong pipeline of projects to support our growth story well beyond 2020.” | |
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