Operations

2013 Mineral Reserves and Resources

Mineral resources (“resources”) and mineral reserves (“reserves”) have been estimated as at December 31, 2013 pursuant to Canadian securities regulatory requirements, specifically the requirements of National Instrument 43-101 and the definitions of resources and reserves incorporated therein. Consistent with National Instrument 43-101, resources are divided into “inferred,” “indicated” and “measured” based on the level of geological confidence in the mineralization, and reserves, into “probable” and “proven” upon at least a pre-feasibility study having been undertaken on the indicated and measured resources. Measured and indicated resources are inclusive of proven and probable reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability and are not guaranteed to have economic viability. Inferred resources are too speculative geologically to have any economic considerations applied to them that would allow a translation into reserves.

Cautionary Notes to U.S. Investors

The United States Securities and Exchange Commission (“SEC”) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. IAMGOLD uses certain terms in the Annual Report, such as “measured,” “indicated,” or “inferred,” which may not be consistent with the reserve definitions established by the SEC. U.S. investors are urged to consider closely the disclosure in the IAMGOLD Annual Reports on Forms 40-F filed with the SEC. 

 

GOLD Mineral RESERVES

100% BASIS

 


PROVEN PROBABLE
As at December 31, 2013 Tonnes
(000)
Grade 
(g/t)
Contained
Ounces
(000)
Tonnes
(000)
Grade 
(g/t)
Attributable
Contained
Ounces
(000)
Rosebel1  94,095 1.0 3,124 
39,195 
0.9 1,149 
Essakane1 - - - 126,806 
1.1 4,573
Sadiola2 - - - 56,406 
1.9  3,492 
Yatela3 - - - - - -
Doyon Division4 20 15.6 10 - - -
Westwood5 47 9.3 14 1,546 
10.0 496
Côté Gold6    - - -
 Boto, Senegal7 -   -  - -
Total proven reserves


94,162 
1.0 
3,148 
Total probable reserves       223,953   1.4    9,710 
Total proven and probable reserves       318,115   1.3   12,858 

 

attributable reserves

 


PROVEN PROBABLE
As at December 31, 2013 Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Rosebel1 89,390
1.0 2,968
37,235 
0.9 1,092 
Essakane1 - - - 114,125 
1.1 4,116 
Sadiola2 - - - 23,126 
1.9 1,432 
Yatela2 - - - - - -
Doyon Division4 20 15.6 10 - - -
Westwood5 47 9.3 14 1,546 
10.0 496
Côté Gold6
- - - - - -
Boto, Senegal Gold7
- - - - - -
Total proven reserves


89,457 
1.0 2,992 
Total probable reserves


176,033 
1.3 7,135 
Total proven and probable reserves       265,490   1.2 10,127  

*     Mineral reserve tonnage, grade and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

GOLD MINERAL RESOURCES

(Inclusive of Mineral Reserves)

100% BASIS

 


MEASURED INDICATED INFERRED
As at December 31, 2013 Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Rosebel1 152,858 
1.0 4,939 
79,441 
1.0 2,538 
14,433 
0.7 346 
Essakane1 - - - 144,115 
1.1 5,270 
20,227 
1.1 
704
Sadiola2  16,260 
0.8 433 94,868 
2.0 6,171 
14,949 
2.0 953
Yatela3 880 0.5 15 - - - - - -
Doyon Division4 342 5.0 55 686 3.6 79 1,732 6.3 352
Westwood5 45 10.1 15 1,243 13.0 521 10,162
10.9 
3,548 
Côté Gold6 - - - 269,300
0.9 7,606 43,800
0.7 1,043
Boto, Senegal Gold7 -  - - 21,960 1.6 1,142 1,861 1.4 81
Total measured resources




170,385 
1.0 5,458
Total indicated resources





611,613 
1.2 23,327
Total measured and indicated resources             781,999   1.1 28,785 
Total inferred resources             107,164   2.0 7,027 

 

ATTRIBUTABLE RESOURCES

 


MEASURED INDICATED INFERRED
As at December 31, 2013 Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Tonnes
(000)
Grade
(g/t)

Contained
Ounces
(000)
Rosebel1 145,215 
1.0 4,692
75,469  
1.0  2,411  
13,711 
0.7 329
Essakane1 - - - 129,704  
1.1  4,743  
18,204  
1.1 
634
Sadiola2  6,667 
0.8 178 38,896  
2.0 2,530 
6,129 
2.0 391
Yatela3 352
0.5 6 - - - - - -
Doyon Division4 342 5.0 55 686 3.6 79 1,732 6.3 352
Westwood5 45 10.1 15 1,243 13.0 521 10,162
10.9 
3,548 
Côté Gold6 - - - 249,103 
0.9 7,036 
40,515 
0.7 965
Boto, Senegal Gold7 -  - - 21,960 
1.6 1,142 1,861 1.4 81
Total measured resources




 152,621 
1.0 4,946 
Total indicated resources





 517,060 
1.1 18,462 
Total measured and indicated resources8,9,10             669,681    1.1 23,408  
Total inferred resources             92,315   2.1 6,299 

1    Rosebel and Essakane mineral reserves have been estimated as of December 31, 2013 using a $1,400/oz gold price and mineral resources have been estimated as of December 31, 2013 using a $1,500/oz gold price and have been estimated in accordance with NI 43-101.

2    Mineral reserves at Sadiola have been estimated as of December 31, 2013 using an average of $1,100/oz gold price and mineral resources have been estimated as of December 31, 2013 using a $1,600/oz gold price and have been estimated in accordance with JORC code.

3    Mineral resources at Yatela have been estimated as of December 31, 2013 using a $1,600/oz gold price and have been estimated in accordance with JORC code.

4    The Doyon Division includes mineral reserves from the Mouska Gold Mine and resources from both the Doyon and Mouska Gold Mines. Mineral resources at Doyon have been estimated as of December 31, 2013 using a $1,600/oz gold price and have been estimated in accordance with NI 43-101. Mineral reserves and resources at Mouska have been estimated as of December 31, 2013 using a $1,300/oz gold price and have been estimated in accordance with NI 43-101.

5    Westwood mineral reserves have been estimated as of December 31, 2013 using a $1,400/oz gold price and mineral resources have been estimated as of December 31, 2013 using a $1,400/oz gold price, 6.0 g/t Au cut-off over a minimum width of 2 metres and have been estimated in accordance with NI 43-101.

6    Côté Gold mineral resources have been estimated as of December 31, 2013 using a $1,600/oz gold price and have been estimated in accordance with NI 43-101.

7    Boto mineral resources have been estimated as of December 31, 2013 using a $1,500/oz gold price and have been estimated in accordance with NI 43-101.

8    Measured and indicated gold resources are inclusive of proven and probable reserves.

9    In mining operations, measured and indicated resources that are not mineral reserves are considered uneconomic at the price used for reserves estimations, but are deemed to have a reasonable prospect of economic extraction.

10  In underground operations, mineral resources contain similar dilution and mining recovery as mineral reserves, except for Westwood where 35% dilution was applied to the reserves.

*     Mineral resource tonnage, grade and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

Gold Technical Information and Qualified Person/Quality Control Notes

The mineral resource estimates contained in this report have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The “Qualified Person” responsible for the supervision of the preparation and review of all resource and reserve estimates for IAMGOLD is Lise Chénard, Eng., Director, Mining Geology. Lise has worked in the mining industry for more than 30 years, mainly in operations, project development and consulting. She joined IAMGOLD in April 2013 and acquired her knowledge of the Company’s operations and projects through site visits, information reviews and ongoing communication and oversight of mine site technical service teams or consultants responsible for resource and reserve modeling and estimation.

She is considered a “Qualified Person” for the purposes of NI 43-101 with respect to the mineralization being reported on. The technical information has been included herein with the consent and prior review of the above noted Qualified Person. The Qualified Person has verified the data disclosed, and data underlying the information or opinions contained herein.