Growing Côte Gold District By 3.4 Million Gold Ounces in Indicated Resources
IAMGOLD Corporation (TSX: IMG) has unveiled an initial mineral resource estimate for the Gosselin zone discovery, centered approximately 1.5 kilometres northeast of the Côté Gold construction project.
The Gosselin delineation drilling programme was undertaken as part of the Côté Gold 70:30 joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining Co., Ltd. (SMM).
Côté Gold, located 175 km north of Sudbury, Ontario, Canada and 125 km southwest of Timmins, Ontario, Canada, is currently under construction with commercial production anticipated in the second half of 2023.
The mineral resource estimate for the Gosselin deposit (on a 100% basis using a US$1,500 per ounce gold price) comprises:
- 124.5 million tonnes of indicated resources averaging 0.84 grams of gold per tonne for 3.35 million ounces of gold; and
- 72.9 million tonnes of inferred resources averaging 0.73 grams of gold per tonne for 1.71 million ounces of gold.
Current reported mineral resources for the adjacent Côté Gold deposit, on the same basis, are comprised of measured and indicated resources totalling 365.5 million tonnes averaging 0.87 grams of gold per tonne for 10.2 million ounces of gold and inferred resources totalling 189.6 million tonnes averaging 0.63 grams of gold for 3.8 million ounces.
“We are very pleased to have reached this significant milestone disclosing an initial mineral resource estimate for the Gosselin discovery,” Executive Vice President, Craig MacDougall, said.
“The exploration team is to be especially congratulated for safely completing a series of successive, logistically challenging, delineation-drilling programmes while navigating the evolving challenges presented by the COVID-19 pandemic.
“We believe that the Gosselin deposit will continue to enhance the long term value and district-scale potential of the Côté Gold project. The Gosselin deposit remains open along strike to the northeast and has only been drilled to approximately half the depth of the Côté Gold deposit itself, so there remains significant potential to further expand total resources.”
The mineral resource estimate for the Gosselin zone incorporates assay results from 163 diamond drill (DD) holes totalling 54,775m, including 95 DD holes totalling 38,398m completed by IAMGOLD as part of its delineation drilling programme. Drill holes are spaced at approximately 70m apart.
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