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IAMGOLD Corp.
Summary
| Project: | Rosebel | |
|---|---|---|
| Deposit: | Rosebel | |
| Location: | Suriname | |
| Commodities: | Gold | |
| Date: | 9/24/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 24-9-2018: IAMGOLD Corp. announces a Resource Estimation report for its Rosebel deposit at the Rosebel project. Updated mineral resources and ore reserves at project and added Resources from Saramacca. Toronto, Ontario, September 23, 2018 – IAMGOLD Corpor | |
| Resources: | (Reserve, P+P): 160.22Mt @ 1.1g/t Au for 5.457Moz Au contained at project | |
| CP/QP: | [Resources]: D. Chartier, O. Leuangthong, R. Dutaut (SRK Consulting (Canada) Inc.;Internal) | |
| ABSTRACT: | Toronto, Ontario, September 23, 2018 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today announced an updated Resource and Reserve estimate for its Rosebel Gold Mine (“Rosebel”) in Suriname, which includes a declaration of reserves from the Saramacca deposit, located approximately 25 kilometres from the Rosebel mill. Consolidated gold reserves at Rosebel increased by 51%, resulting from the significant contribution from the Saramacca deposit, as well as overall improvements to the current LOM Plan allowing for the inclusion of the Koolhoven deposit. The declaration of reserves at Saramacca contributed 1.0 million ounces, accounting for 64% of the increase, while the inclusion of Koolhoven contributed another 0.4 million ounces. The increase was achieved with no changes to the $1,200 per ounce gold price assumption for estimating reserves. The additional reserves extend Rosebel’s mine life by five years to 2033, with future average annual production estimated at 318,000 ounces on a 100% basis. While providing direct positive impacts to the overall reserves and the Rosebel operation, the future development of Saramacca also positions the Company to further unlock the exploration potential of its consolidated land holdings along the Saramacca - Brokolonko trend. Steve Letwin, President and CEO of IAMGOLD, commented, “Saramacca has delivered. Within only a year of confirming the resource, Rosebel has rapidly advanced Saramacca to reserve status and incorporated the additional ounces into the overall LOM plan. I congratulate the exploration and 2 engineering teams for these excellent results and their dedication to moving this project quickly towards production. The significance of this accomplishment stands out at a time when reserve replacement is no longer easy in our industry. In gaining another five years, Rosebel is only half way through its life expectancy of nearly three decades.’’ | |
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