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IAMGOLD reports remaining assay results

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Global Mining Review,

IAMGOLD Corp. has announced the remaining assay results from its 2020 exploration diamond drilling programme at its Nelligan joint venture project (IAMGOLD: 75%, Vanstar Mining Resources Inc.: (25%), located 60 km southwest of Chibougamau, Quebec, Canada.

The company is reporting assay results from the final seven diamond drill holes totalling 2602 m completed as part of the summer 2020 drilling programme. One hole was abandoned due to excessive deviation, while a second hole did not reach the expected Renard target zone due to mechanical issues. The assay results include the following highlights:

Renard West Zone:

  • Drill hole NE-20-161: 27.0 m grading 1.11 g/t gold (Au).

and 36.1 m grading 1.13 g/t Au.

and 22.1 m grading 1.07 g/t Au.

  • Drill hole NE-20-164: 21.8 m grading 2.00 g/t Au.
  • Includes: 4.5 m grading 5.80 g/t Au.

and 23.2 m grading 1.72 g/t Au, including 1.5 m grading 6.81 g/t Au.

Renard Zone:

  • Drill hole NE-20-159: 33.0 m grading 0.99 g/t Au.

and 18.0 m grading 1.55 g/t Au.

  • Drill hole NE-20-162: 17.3 m grading 7.62 g/t Au (4.49 g/t when capped at 30 g/t).
  • Includes: 1.5 m grading 66.1 g/t Au.

and 42 m grading 1.15 g/t Au.

and 15.6 m grading 1.39 g/t Au.

Liam Zone:

  • Drill hole NE-20-160: 8.5 m grading 4.16 g/t Au.
  • Includes: 1.3 m grading 19.8 g/t Au.

The Nelligan Gold project (on a 100% basis) hosts inferred mineral resources containing 3.2 million oz of gold grading 1.02 g/t Au (see news releases dated 22 October 2019 and 18 February 2020). The 2020 diamond drilling programme was designed to infill selected areas of the deposit as well as step-out at depth and along strike at the Renard Zone to evaluate the potential for resource extensions.

Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated: "These remaining results continue to demonstrate continuity of mineralisation from the infill drill holes completed in the resource area, and importantly, also continue to demonstrate that mineralisation extends well beyond the area of the current modelled resource to the west for at least 500 – 700 m. The mineralisation and associated alteration intersected to date along this western extension appears similar to that observed in the current estimated resource and has potential to expand existing project resources with additional drilling. I must congratulate the exploration team for their perseverance to safely and successfully complete the 2020 exploration program with the numerous challenges posed by the global COVID-19 crisis."

Next Steps

With the results of the 2020 exploration drilling programme now in hand, data compilation is underway to update the deposit model to help guide future drilling programs. Planning has commenced for the 2021 exploration programme, which is expected to include continued drilling to expand the known resources.

Additional metallurgical testing is also currently underway to provide further information and help confirm the metallurgical recoveries achieved from previous preliminary test work in order to further refine options for the process flow sheet parameters. Results of this testing programme are expected in early 2021.

Regional exploration activities and future exploration programmes continue to be guided by the ongoing incorporation and compilation of exploration data to refine geological, geochemical and structural models to help identify and prioritise targets for evaluation on the large project land package.

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