HomeExplorationIAMGOLD: initial mineral resource estimate Gosselin

IAMGOLD: initial mineral resource estimate Gosselin

IAMGOLD Corporation has announced an initial mineral resource estimate for the Gosselin zone discovery approximately 1.5 km northeast of the Côté Gold construction project.

The estimate was completed in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards incorporated by reference in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101).

The Gosselin delineation drilling program was undertaken as part of the Côté Gold 70:30 joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining, 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 comprises:

  • 124.5 Mt of indicated resources averaging 0.84 grams of gold per tonne for 3.35 Moz of gold; and
  • 72.9 Mt of inferred resources averaging 0.73 grams of gold per tonne for 1.71 Moz 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 Mt averaging 0.87 grams of gold per tonne for 10.2 Moz of gold and inferred resources totalling 189.6 Moz averaging 0.63 grams of gold for 3.8 Moz.

Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated:

“We are very pleased to have reached this significant milestone disclosing an initial mineral resource estimate for the Gosselin discovery. The exploration team is to be especially congratulated for safely completing a series of successive, logistically challenging, delineation-drilling programs 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,” added MacDougall.