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IAMGOLD Corp.
Summary
| Project: | Essakane Mine | |
|---|---|---|
| Deposit: | Gossey | |
| Location: | Burkina Faso | |
| Commodities: | Gold | |
| Date: | 12/12/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 12-12-2018: IAMGOLD Corp. announces a Resource Estimation report for its Gossey deposit at the Essakane Mine project. Initial mineral resource estimate for Gossey deposit. TORONTO, December 12, 2018 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today | |
| Resources: | (Resource): 10.454Mt @ 0.87g/t Au (Ind.), 2.939Mt @ 0.91g/t Au (Inf.) | |
| CP/QP: | [Resources]: James Purchase (G Mining Service Inc.) | |
| ABSTRACT: | TORONTO, December 12, 2018 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today announced an initial Mineral Resource estimate for the Gossey satellite deposit, located approximately 15 kilometres northwest of its Essakane operation in Burkina Faso. The estimate was completed in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards incorporated by reference in National Instrument 43-101 (“NI 43-101”). The resource estimate comprises 10.5 million tonnes of Indicated Resources averaging 0.87 grams of gold per tonne for 291,000 ounces and 2.9 million tonnes of Inferred Resources averaging 0.91 grams of gold per tonne for 85,000 ounces. Over 70% of the delineated resources are contained within shallow, soft, saprolite and transition hosted mineralization. Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated, "The initial resource estimate reported for the Gossey deposit confirms the prospectivity of the Gossey – Korizena trend to host significant gold mineralization. We believe there is favourable potential for additional discoveries within our extensive exploration concessions surrounding the Essakane operation. I congratulate our exploration team for continuing to define additional resources in the Essakane area.” The mineral resource for the Gossey deposit incorporates assay results from 733 diamond (‘DD’) and reverse circulation (‘RC’) drill holes spaced at approximately 50 x 25 metres and totalling approximately 94,900 metres. The estimate was prepared using a block model constrained with 3D wireframes of the principal mineralized domains. Values for gold were interpolated into blocks using inverse distance cubed (‘ID3’). An open pit optimization algorithm was run on the block model to constrain the resource and to support the CIM requirement that Mineral Resources have ‘reasonable prospects for eventual economic extraction’. The resource estimate assumes a long-term gold price of US$1,500/ounce. Only mineralization contained within the preliminary pit shell has been included in the resource estimate. The effective date of this resource estimate is May 25, 2018. | |
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