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IAMGOLD Corp.
Summary
| Project: | Rosebel | |
|---|---|---|
| Deposit: | Rosebel | |
| Location: | Suriname | |
| Commodities: | Gold | |
| Date: | 7/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 26-7-2017: IAMGOLD Corp. announces a Resource Estimation report for its Rosebel deposit at the Rosebel project. Updated mineral resources and ore reserves at project. Toronto, Ontario, July 26, 2017 – IAMGOLD Corporation (“IAMGOLD” or “the Company”) today | |
| Resources: | (Reserve, P+P): 114.9Mt @ 1.0g/t Au for 3.73Moz Au contained at project | |
| CP/QP: | [Resources]: Vincent Cardin-Trembaly (Internal) | |
| ABSTRACT: | Toronto, Ontario, July 26, 2017 – IAMGOLD Corporation (“IAMGOLD” or “the Company”) today announced an updated Reserve and Resource estimate for its Rosebel Gold Mine ("Rosebel") in Suriname. This estimate is calculated as at June 30, 2017. Total estimated attributable proven and probable gold reserves at Rosebel increased by 80% to 3.5 million ounces at the end of June 2017 from 2.0 million ounces of gold at the end of 2016. The addition of 1.6 million ounces was due to the factors described below, and is partially offset by mining depletion at Rosebel during the first half of 2017. There was no change in the $1,200 per ounce gold price assumption for estimating Rosebel’s reserves. Total attributable measured and indicated gold resources (inclusive of reserves) estimated for Rosebel increased by 55% or 3.1 million ounces to 8.9 million ounces at the end of June 2017, compared to the year-end 2016 estimate. There was also no change in the gold price assumption for estimating mineral resources at Rosebel ($1,500 per ounce). As at June 30, 2017, Rosebel also estimates an attributable inferred resource of 2.5 million ounces, representing an increase of 1.9 million ounces from the 2016 year-end estimate. The significant factors affecting the changes to the resource estimates are similar to the factors noted for the increased reserve estimate. “Rosebel continues to transform, enhancing the value of this operation,” said Steve Letwin, President and CEO of IAMGOLD. “With the 80% increase in reserves today at the Rosebel concession and a resource estimate for Saramacca to follow in September, a new lower-cost, longer-life mine is taking shape. The ounces we’re adding today extend Rosebel’s life to 2028. Most impressive is that the vast majority of the incremental 1.6 million ounces is due to mine planning optimization which has allowed us to economically access more ounces. Only a portion of the saddle zones is incorporated at this time, so we could see more upside potential from the remaining saddles. IAMGOLD’s consolidated attributable reserves are up 69% from the end of 2016 as Rosebel adds to the increase we previously announced with the conversion of resources to reserves at Côté Gold. The anticipated positive impact of the Saramacca deposit will be better known once we complete an initial resource estimate, which is currently in progress.” | |
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