For thousands of other reports visit RSC's Mineral Intellingence Map
IAMGOLD Corp.
Summary
| Project: | Essakane Mine | |
|---|---|---|
| Deposit: | Essakane Mine | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 6/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 5-6-2018: IAMGOLD Corp. announces a Pre-Feasibility Study report for its Essakane Mine deposit at the Essakane Mine project. PFS results incl. updated mineral resource and ore reserve estimate, 8.5yr LOM at the project. Toronto, Ontario, June 5, 2018 – IA | |
| Resources: | (Reserve, Prob.): 164.454Mt @ 0.89g/t Au for 4.704Moz Au contained | |
| CP/QP: | [Resources]: V. Blanchet (Internal) | |
| ABSTRACT: | Toronto, Ontario, June 5, 2018 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today announced positive results from a Pre-feasibility Study ("PFS") for its Essakane Heap Leach Project (the “Project”) in Burkina Faso, West Africa. The results, which outline an economically viable project, justify the commencement of a Feasibility Study (“FS”) to further optimize the project development design, secure long lead equipment and improve project economics. The infill drilling program, conducted to upgrade targeted lower-grade inferred resources in support of the Heap Leach PFS, intersected higher grades than anticipated in several areas. The impact of these results is still being assessed and may provide potential to outline additional zones of higher-grade mineralization for processing at the existing carbon-in-leach (“CIL“) plant. The drilling campaign is continuing and the results will be used to complete the delineation of both the lower-grade heap leach and higher-grade CIL mineralization to optimize the development options as part of the recommended FS. “I applaud the Essakane team,” said Steve Letwin, President and CEO of IAMGOLD. “Not only have they introduced a new processing method that allows for economic incremental production, their success at the drill bit has delivered a resource increase far greater than what we expected. While we knew that heap leaching had the potential to unlock additional reserves, we were positively surprised at, and benefited from, intercepting higher grades, which account for more than one-third of the 39% increase. Essakane is pursuing all avenues for enhancing the value of this already high-performing operation, including targeting additional resources from Essakane’s large, prospective land package. Stay tuned for an initial resource estimate for the Gossey prospect in the fourth quarter of this year. With these positive results and the future work we have planned, we are targeting a mine life beyond 2030 and AISC below $900 an ounce.” The PFS was completed jointly by IAMGOLD and Kappes, Cassiday & Associates (KCA), with inputs from technical studies completed by other consultants, and has an effective date of June 5, 2018. The PFS 2 represents a comprehensive study of the technical and economic viability of a mineral project that has advanced to a stage where a preferred mining method has been established and an effective method of mineral processing has been determined. IAMGOLD is using the PFS to identify the preferred development option to demonstrate economic viability of the Project, to support Mineral Reserve disclosure, and to identify additional work recommended to support the completion of a FS. Technical studies to support the completion of the FS have commenced, with the study scheduled for completion in the first quarter of 2019. As a result of the newly established reserve estimate, and the intercepted highgrade material at depth, the FS will also evaluate a lower capital option focused on enhancing the CIL plant only to potentially reduce the LOM AISC while improving the LOM NPV | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report