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IAMGOLD provides Monster Lake exploration results

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Global Mining Review,

IAMGOLD Corp. has recently announced assay results from the 2020 drilling programme completed at its Monster Lake joint venture project (IAMGOLD: 75%, TomaGold Corp.: 25%), located 50 km southwest of Chibougamau, Quebec, Canada. The company is reporting the final assay results from 6 drill holes, totalling 2991 m, completed as part of the 2020 exploration programme.

The Monster Lake joint venture project (on a 100% basis) hosts a Mineral Resource comprising 1 109 700 t of inferred resources averaging 12.14 g/t gold for 433 300 oz of contained gold, assuming an underground mining scenario, as prepared in accordance with National Instrument 43-101 (NI 43-101) Standard of Disclosure for Mineral Projects.

The objective of the 2020 drilling programme was to test priority areas along the strike of the main Monster Lake structural corridor, which hosts the 325-Megane zone, for additional zones of mineralisation with potential to increase total mineral resources on the property. The focus was on testing the Annie Shear Zone extending to the northeast along strike of the 325-Megane zone in an effort to extend the mineralisation intersected during 2019. The programme was executed in two phases due to the suspension of activities in March 2020, as directed by the government of Quebec in response to the COVID-19 crisis. The programme was subsequently restarted, and completed in June 2020.

Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: "The drilling programme continues to intersect the targeted shear zones with further positive results from the Annie area. Our increasing understanding of the complex structural context has highlighted several discrete parallel shear zones hosting mineralization adjacent to the main known structural corridor. These results highlight the potential for the discovery of additional mineralised shoots along the Monster Lake structural corridor."

Next Steps

These drilling results will be incorporated into the structural and deposit models and used to guide the next drilling programmes. Ongoing field activities for the summer season includes geological and geochemical surveys. Regional structural studies continue to support exploration targeting.


  • Drill hole ML-20-253: 3.8 m grading 16.9 g/t gold.
    • Includes: 1.03 m grading 7.36 g/t gold.
    • Includes: 0.80 m grading 66.50 g/t gold.
  • Drill hole ML-20-255: 4.0 m grading 1.89 g/t gold.

Big Mama Shear Zone:

  • Drill hole ML-20-251: 2.82 m grading 5.63 g/t gold.

Main Shear Zone area:

  • Drill hole ML-20-252: 12.3 m grading 2.09 g/t gold.

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