HomeNewsIAMGOLD gains 1 Moz gold resource through Merrex Gold acquisition

IAMGOLD gains 1 Moz gold resource through Merrex Gold acquisition

IAMGOLD has acquired all the issued and outstanding common shares of Merrex Gold not already owned by IAMGOLD, as well as all the outstanding common share purchase warrants of Merrex Gold – the company is now a wholly-owned subsidiary of IAMGOLD.

“With the acquisition of Merrex Gold, we now own 100% of the Siribaya-Diakha project in Mali and its gold resource, which is estimated to be in excess of 1 Moz as reported,” said IAMGOLD President and CEO Steve Letwin.

“This transaction consummates eight years of excellent work and partnership with the Merrex team that led to the discovery of the Diakha deposit. This project, along with the ongoing exploration and evaluation of our nearby Boto gold project in Senegal, gives us a significant footprint from which to advance our 2017 goal to expand our current resources in this prolific region of West Africa.”

IAMGOLD owns four operating gold mines on three continents. Its solid base of strategic assets in North and South America and West Africa is complemented by development and exploration projects and continued assessment of accretive acquisition opportunities.

Meanwhile, Merrex Gold holds permits totaling approximately 700 km2 within an approximately 4 100 km2 area of interest in the southern portion of the West Mali gold belt.

Merrex’s primary assets are its gold properties in West Mali, which consists of:

  • its 50% interest in the Siribaya gold project;
  • its 100% held Karita exploration authorisation in Guinea; and
  • its 100% held zinc-lead property in Nova Scotia (the Jubilee project).