Iamgold drills 77 metres of 2.23 g/t gold at Nelligan, Quebec
Iamgold Corp. [IMG-TSX, IAG-NYSE] has announced assay results from its ongoing 2025-26 drilling program at the Nelligen Mining Complex in Quebec. The company said the results confirm the depth extension of the mineralized zones at Nelligen, Monster Lake, and Philibert, and define existing resources with closer-spaced drilling at all three deposits. Nelligen, Philibert, and Monster Lake are located within a 15-kilometre radius, and the combined exploration camp is accessible by road approximately 60 kilometres southwest of Chibougamau in central Quebec.
The Nelligan Complex hosts total combined mineral resources of 4.3 million ounces of indicated resources at 0.99 g/t gold and 7.5 million ounces of inferred resources at 1.08 g/t. All primary deposits are located within a proximity that supports Iamgold’s vision of a central processing facility fed by multiple ore sources within the region.
Iamgold shares were unchanged Tuesday at $22.92. The shares trade in a 52-week range of $34.06 and $15.30.
“Drilling continues to extend the mineralized system at depth at Nelligan, while also delivering compelling high-grade intersections at Monster Lake and strong results from our inaugural program at Philibert,’’ said Iamgold President and CEO Renaud Adamsl. “Through the consolidation of Nelligan, Monster Lake and Philibert, we have created one of Canada’s largest pre-production gold camps and these results reinforce the scale, quality and growth potential of the Complex,’’ he said. “We look forward to providing our next exploration update in the first half of 2027, followed by a preliminary economic assessment (PEA) that will outline the potential of the Complex to become one of Iamgold’s premier assets,’’ he said. “Wholly-owned by Iamgold, and situated in a stable, mining-friendly jurisdiction, the Complex offers an attractive venue for organic growth and further strengthens our pipeline as a leading intermediate gold producer.’’
In its latest press release, Iamgold reported assay results from 47 drill holes covering 20,641 metres completed as part of the ongoing drilling program at Nelligan. These drill holes were completed between June 2025 and June 2026. The total includes 35 infill holes completed within the resource shell, seven deeper exploration holes testing extensions of the Nelligan deposit down-plunge at depth and five exploration holes drilled outside the resource area on exploration targets. Few of the infill and deeper holes were recollared due to excessive deviation.
Nelligan drilling highlights include Zone 36 were the company reported 77 metres of 2.23 g/t gold, including 1.5 metres at 13.9 g/t gold, 6.0 metres at 7.14 g/t gold and 1.5 metres at 9.37 g/t gold in hole NE-26-272. Other highlights include 37.28 metres at 3.62 g/t gold in Renard and 7.5 metres at 14.37 g/t in the Footwall Zone.
Iamgold is an intermediate gold producer and developer with operating mines in North America and West Africa, including Cote Gold and Westwood in Canada and Essakane in Burkina Faso. The Cote Gold Mine is among the largest gold mines in production in Canada, and is held 70% by Iamgold and 30% by Sumitomo Metal Mining Co Ltd.
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