IAMGOLD drills 264.5 metres of 0.94 g/t gold at Gosselin

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IAMGOLD Corp. [IMG-TSX; IAG-NYSE] reported assay results from its delineation diamond drilling program at the Gosselin Zone discovery, located approximately 1.5 km northeast of the Cote gold project. The Gosselin delineation drilling program is being undertaken as part of the Cote gold joint venture project, a 70:30 joint venture between IAMGOLD and Sumitomo Metal Mining Co. Ltd. (SMM). Cote, located 125 km southwest of Timmins and 175 km north of Sudbury, Ontario, is currently under construction with first gold production anticipated in the second half of 2023.

Since Q4 2019, a total of 33 diamond drill holes totalling 13,735 metres were completed as part of the resource delineation drilling program. The drill holes were variably completed from collar positions located on either lake ice, or on a floating barge deployed in Three Ducks Lake and from land-based drill pads on the north shore of Three Ducks Lake or on the Young-Shannon peninsula.

IAMGOLD is reporting assay results from 24 diamond drill holes totalling 10,049 metres. Results are pending for the remaining nine drill holes totalling 3,686 metres. These results will be reported once they are received, validated and compiled.

Highlights include drill hole GOS19-30 that returned 264.5 metres grading 0.94 g/t gold, including 27.0 metres of 2.72 g/t gold, including 2.6 metres grading 12.87 g/t gold. Drill hole GOS19-33 returned 243.6 metres grading 0.99 g/t gold, including 142.0 metres grading 1.29 g/t gold. Drill hole GOS20-38 returned 202.0 metres grading 1.22 g/t gold, including 151.0 metres grading 1.50 g/t gold. Other hole also returned encouraging assay results. Refer to company press release for complete assays.

Craig MacDougall, executive vice-president, growth, for IAMGOLD, stated: “With the many challenges faced by the exploration team in 2020, the completion of this diamond drilling campaign was a significant achievement and has clearly brought into focus and confirmed the importance of this new discovery. The program was completed with outstanding safety performance while working cooperatively to co-ordinate with the numerous activities of the Cote mine site construction team. We are looking forward with anticipation to the completion of a maiden resource estimate later this year.”

The drilling was designed to complete infill and delineation drilling on the Gosselin and Young-Shannon zones. The program confirmed the continuity of broad zones of gold mineralization throughout the Gosselin zone.

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