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IAMGOLD Reports High-grade Drill Intersections from its 2017 Drilling Program on the Diakha Deposit, Siribaya Project in Mali

Jan 31, 2018

TORONTO, Jan. 31, 2018 /CNW/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") today provided results from its 2017 drilling program at the Diakha deposit on its wholly owned Siribaya project in Western Mali.  In 2017, the Company completed a combined diamond and Reverse Circulation ("RC") drilling program designed to infill and increase confidence in the current resource as well as target expansions of the Diakha deposit.  Assay results are reported herein for 105 drill holes totaling 19,520 metres.

Assay intersections relating to this release are provided in Tables 1 and 2, and include the following highlights:

Infill Drill Holes:

  • SRD17-198: 26.0 metres grading 6.79 g/t Au
    Including: 8.0 metres grading 20.52 g/t Au
  • SRD17-205: 18.0 metres grading 11.06 g/t Au
    Including: 6.0 metres grading 32.45 g/t Au
  • SRD17-215: 13.0 metres grading 2.81 g/t Au
    and 26.0 metres grading 2.62 g/t Au

 

Expansion Drill Holes:

  • SRD17-217: 16.0 metres grading 4.70 g/t Au
    Including: 4.0 metres grading 16.11 g/t Au
  • SRD17-226: 10.0 metres grading 5.16 g/t Au
  • SRC17-687: 16.0 metres grading 7.65 g/t Au
    Including: 4.0 metres grading 28.94 g/t Au
  • SRC17-704: 50.0 metres grading 2.01 g/t Au
    Including: 4.0 metres grading 9.70 g/t Au

 

(Figure 1, attached to this news release, shows a drill hole plan map)

Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated, "we are very pleased with the results of our 2017 program which have not only better delineated high grade structures within the known resource, but have also confirmed extensions of the mineralization to both the north and south along strike beyond the current resource pit shell. These extensions have nearly doubled the strike length of the mineralized foot print and we continue to advance towards our objective of achieving a targeted resource threshold of 2 million ounces."

About the Siribaya Project

The Siribaya project is wholly owned by IAMGOLD and consists of 8 contiguous exploration permits covering a total area of 596.5 square kilometres, located in the Kédougou-Kéniéba inlier of the West African Craton region of western Mali along the borders with Senegal and Guinea. 

The project hosts current mineral resources comprising indicated resources totalling 2.1 million tonnes averaging 1.90 grams of gold per tonne for 129,000 ounces and inferred resources comprising 19.8 million tonnes averaging 1.71 grams of gold per tonne for 1.1 million ounces (see news release dated February 22, 2017). 

Gold mineralization is hosted within highly prospective, Birimian-aged metasedimentary, volcanic and intrusive rocks proximal to the Senegal-Mali Shear Zone. At Diakha, the largest deposit at Siribaya discovered to date, gold mineralization occurs within an albitized sandstone unit similar to that hosting IAMGOLD's Boto gold deposit in Senegal located approximately 10 kilometres to the north along strike.

Next Steps

In 2018, approximately 15,000 metres of drilling is planned to continue defining and expanding resources at the Diakha deposit as well as to explore other identified priority targets. All results will be used to refine the deposit model and will be incorporated into an updated resource estimate expected by year end.

Technical Information and Quality Control Notes

The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

The sampling of, and assay data from, drill core and RC chips are monitored through the implementation of a quality assurance - quality control (QA-QC) program designed to follow industry best practice. Rock chips from the Reverse Circulation drilling are collected at the rig site, at one metre intervals, under the direct supervision of IAMGOLD geologists and field technicians. Samples are riffle split to obtain two 3 kilogram samples.  One sample is retained for reference purposes and the other is used to prepare two-metre composite samples for assay. The two-meter composite samples are prepared at the project site, by trained technicians supervised by IAMGOLD geologists. Drill core (HQ and NQ size) samples were selected by the IAMGOLD geologists and sawn in half with a diamond saw at the project site. Half of the core was retained at the site for reference purposes.  Drill core sample intervals are generally one metre in length.

The samples were assayed at the SGS Minerals Analytical Laboratory in Bamako, Mali, using a standard fire assay with a 50-gram charge and an Atomic Absorption finish (FAA505). All samples returning values greater than 10 g/t Au were re-assayed using a gravimetric finish (FAG505).

Qualified Persons

The information in this news release was prepared under the supervision of, and reviewed and verified by, Craig MacDougall, P.Geo., Senior Vice President, Exploration for IAMGOLD. Mr. MacDougall is a Qualified Person as defined by National Instrument 43-101.

Notes to Investors Regarding the Use of Resources

Cautionary Note to Investors Concerning Estimates of Indicated and Inferred Resources
This news release uses the term "indicated resources". We advise investors that while that term is recognized and required by Canadian regulations, the United States Securities and Exchange Commission (the "SEC") does not recognize it. Investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. 

This news release also uses the term "inferred resources". We advise investors that while this term is recognized and required by Canadian regulations, the SEC does not recognize it. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. 

Cautionary Note to U.S. Investors
The 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 this news release, 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. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml or by contacting the Investor Relations department.

The Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101") requires mining companies to disclose reserves and resources using the subcategories of "proven" reserves, "probable" reserves, "measured" resources, "indicated" resources and "inferred" resources. Mineral resources have not demonstrated economic viability and there can be no assurance that they can be converted to mineral reserves. 

A mineral resource is a concentration or occurrence of natural, solid, inorganic material, or natural, solid fossilized organic material, including base and precious metals in or on the Earth's crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge. A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

Forward Looking Statement
This news release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements.  Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to meet expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets and other risks disclosed in IAMGOLD's most recent Form 40-F/Annual Information Form on file with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

About IAMGOLD

IAMGOLD (www.iamgold.com) is a mid-tier mining company with four operating gold mines on three continents. A 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. IAMGOLD is in a strong financial position with extensive management and operational expertise.

For further information please contact:

Ken Chernin, VP Investor Relations, IAMGOLD Corporation
Tel: (416) 360-4743  Mobile: (416) 388-6883 

Laura Young, Director, Investor Relations, IAMGOLD Corporation
Tel: (416) 933-4952 Mobile: (416) 670-3815

Toll-free: 1-888-464-9999  info@iamgold.com

Please note:

This entire news release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through CNW Group's website at www.newswire.ca. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.

Si vous désirez obtenir la version française de ce communiqué, veuillez consulter le http://www.iamgold.com/French/accueil/default.aspx.

Table 1: Diakha Prospect - 2017 Diamond Drilling results (43 DDH)

Hole#

UTM WGS84 Zone29

AZ

DIP

EOH

From

To

Length

Gold


Easting

Northing

Elevation

Deg

Deg

(m)

(m)

(m)

(m)

(g/t)

SRD17-191

240716

1369091

169

115

-60

300

84

89

5

2.4








191

202

11

1.64












SRD17-192

240782

1369168

169

115

-60

267



No significant value












SRD17-193

240703

1369205

165

115

-60

350

71

81

10

3.12








202

217

15

0.53







Including

215

217

2

1.46












SRD17-194

240784

1369226

171.5

115

-60

350

177

180

3

3.47












SRD17-195

240718

1369366

163

115

-59

340

64

88

24

2.15







Including

80

83

3

9.22








236

239

3

1.34








279

297

18

0.84












SRD17-196

240827

1369315

171

115

-59

200

16

19

3

1.28








27

37

10

0.77








53

63

10

0.64








165

180

15

0.77







Including

165

169

4

2.01












SRD17-197

240816

1369430

169

115

-55

200

26

45

19

1.38







Including

30

32

2

3.43







Including

39

41

2

3.66








167

182

15

2.17







Including

175

177

2

7.52







Including

180

182

2

5.28












SRD17-198

240666

1369775

156.3

115

-61

340

162

188

26

6.79







Including

169

177

8

20.52








196

200

4

1.58








321

329

8

1.37












SRD17-199

240652

1369832

156

115

-60

22



No significant value












SRD17-200

240654

1369835

156

115

-60

340

5

10

5

1.16








60

72

12

1.81







Including

66

68

2

6.5












SRD17-201

240713

1369917

158

115

-60

300

36

44

8

1.83








77

80

3

1.97












SRD17-202

240711

1370079

152

115

-63

340

51

54

3

1.23












SRD17-203

240697

1370261

148

115

-61

309

89

102

13

0.5







Including

89

92

3

1.03








185

191

6

1.19












SRD17-204

240799

1370043

164

115

-62

310

47

61

14

2.49







Including

47

53

6

4.74








68

73

5

1.52












SRD17-205

240655

1369616

158

115

-60

340

166

172

6

1.16








306

324

18

11.06







Including

306

312

6

32.45












SRD17-206

240731

1370406

161

115

-60

259.2



No significant value























SRD17-207

240770

1369880

175

110

-57

276

9

21

12

1.32








34

42

8

4.21







Including

38

42

4

8.11








55

71

16

0.6








198

211

13

0.95







Including

201

205

4

1.96












SRD17-208

240641

1370448

154

115

-60

46



No significant value












SRD17-209

240893

1369995

160.5

115

-60

200

55

62

7

6.43








160

170

10

1.13












SRD17-210

240656

1369717

160

115

-60

340

121

127

6

1.61








308

331

23

5.99












SRD17-211

240612

1369692

158

115

-62

330

139

144

5

4.37












SRD17-212

240801

1369270

170

115

-63

250

121

132

11

0.51








201

213

12

7.06












SRD17-213

240775

1369826

168

115

-70

220

58

71

13

1.8








97

103

6

1.79








210

220

10

0.8












SRD17-214

240807

1369761

160

115

-56

230

32

37

5

5.01








149

159

10

3.48







Including

149

152

3

8.5








196

210

14

0.69












SRD17-215

240753

1369723

162

115

-60

302.5

45

65

20

0.6








91

95

4

2.27








117

120

3

1.12








143

156

13

2.81







Including

152

156

4

8.05








237

263

26

2.62







Including

237

242

5

9.67












SRD17-216

240815

1369650

172

115

-60

245

0

18

18

1







Including

16

18

2

2.64








31

39

8

2.75








141

144

3

1.19








179

182

3

4.15








193

201

8

1.59












SRD17-217

240662

1369873

154

115

-60

280

119

135

16

4.7







Including

126

130

4

16.11












SRD17-218

240768

1369673

157

115

-60

300

38

41

3

2.25








81

86

5

9.86








113

116

3

3.65








226

233

7

1.69












SRD17-219

240713

1369425

167

115

-60

320

83

86

3

1.64








101

108

7

4.18








262

278

16

2.16







Including

266

273

7

4.56












SRD17-220

240787

1369391

165

115

-55

240

122

132

10

0.55








206

214

8

2.83







Including

211

214

3

4.69












SRD17-221

240691

1369268

166

115

-60

360

94

98

4

1.17












SRD17-222

240712

1369148

159

115

-60

300

67

70

3

9.82








250

253

3

6.02












SRD17-223

240670

1370050

151.2

115

-60

300

147

153

6

1.08












SRD17-224

240697

1370201

135

115

-60

17.5



No significant value












SRD17-224A

240694

1370204

149

115

-60

250

73

92

19

1.05








116

129

13

0.68







Including

126

129

6

1.07












SRD17-225

240669

1369008

166

115

-60

300



No significant value












SRD17-226

240604

1368920

161

115

-50

250

60

70

10

5.16








122

140

18

0.97







Including

122

124

2

4.32







Including

219

221

2

1.88












SRD17-227

240780

1368521

162

115

-50

250

35

56

21

1.11







Including

36

42

6

2.65












SRD17-228

240690

1368876

151

115

-50

250

182

189

7

1.54







Including

182

184

2

3.72












SRD17-229

240690

1368563

161

115

-50

249

122

128

6

1.99












SRD17-230

240868

1368474

164

115

-50

250



No significant value












SRD17-231

240965

1368436

154

115

-50

250



No significant value












SRD17-232

240746

1369185

172

115

-60

250

171

175

4

6.8








214

220

6

5.26

Notes:

  • Drillhole intercepts are calculated using a minimum downhole length of 3 metres, a cut-off grade of 0.5 g/t gold, and may include
    up to 5 metres of internal dilution.
  • For brevity, drillhole intercepts with a downhole length of less than 10 metres and grading less than 1.0 g/t gold are not reported.
  • Higher grade sub-intervals are highlighted for intervals that are equal to or exceed an 8.0 g/t gold cut-off grade using the
    parameters above.
  • The true widths of intersections are unknown at this time, but are interpreted to approximate the reported downhole lengths.                                           

 

Table 2: Drilling Results - Diakha Prospect - 2017 RC program (62 RCH)

Hole#

UTM WGS84 Zone29

AZ

DIP

EOH

From

To

Length

Gold


Easting

Northing

Elevation



(m)

(m)

(m)

(m)

(g/t)

SRC17-662

240640

1369952

157

115

-60

153

100

104

4

1.27












SRC17-663

241002

1370069

161

115

-58

84

36

42

6

1.34












SRC17-664

240942

1369868

160

115

-58

77

28

34

6

2.05







Including

30

32

2

4.87












SRC17-665

240924

1369545

172

115

-55

102

12

40

28

1.81







Including

32

40

4

5.08








56

68

12

1.07







Including

64

68

4

3.01












SRC17-666

241041

1369047

214

115

-58

90

22

26

4

1.21








86

90

4

1.86












SRC17-667

241005

1368899

208

115

-58

84



No significant value












SRC17-668

241004

1369067

213

115

-58

140

86

92

6

1.17












SRC17-669

240710

1369974

155

115

-58

159

8

26

18

0.52












SRC17-670

240805

1369931

164

115

-57

102



No significant value












SRC17-671

240988

1370013

166

115

-58

78

28

36

8

1.1












SRC17-672

240505

1369948

152

115

-58

105



No significant value












SRC17-673

240742

1370343

155.4

115

-58

160

144

152

8

2.24












SRC17-674

240724.3

1368425

168

115

-58

147

138

142

4

2












SRC17-675

240650

1368792

144

115

-58

150



No significant value












SRC17-676

240823

1368395

169

115

-58

150

58

76

18

0.71







Including

66

72

6

1.41












SRC17-677

240918

1368348

172

115

-58

45



No significant value












SRC17-678

241081

1368258

172

115

-58

148



No significant value












SRC17-679

241003

1368625

165

115

-58

113



No significant value












SRC17-680

240873

1369843

162

115

-60

160

22

26

4

1.01








90

106

16

1.75












SRC17-681

240900

1369889

164

115

-58

138

90

94

4

3.28












SRC17-682

240900

1369889

164

115

-58

126



No significant value












SRC17-683

240956

1370082

158

115

-58

138



No significant value












SRC17-684

240749

1370458

156

115

-60

150



No significant value












SRC17-685

240815

1370429

154

115

-60

120



No significant value












SRC17-686

240502

1370513

160

115

-58

135

80

84

4

2.23












SRC17-687

240549

1370489

153

115

-58

108

54

70

16

7.65







Including

56

60

4

28.94








84

88

4

1.88












SRC17-688

240692

1370436

157

115

-58

150



No significant value












SRC17-689

240779

1370386

156

115

-58

150

96

114

18

0.84







Including

108

114

6

1.66












SRC17-690

240786

1370551

159

115

-58

141



No significant value












SRC17-691

240825

1370525

137

115

-58

120



No significant value












SRC17-692

240737

1370568

151

115

-58

90



No significant value












SRC17-693

240784

1370325

150

115

-58

120



No significant value












SRC17-694

240762

1370284

157

115

-58

150



No significant value












SRC17-695

240699

1370367

152

115

-58

162

140

150

10

0.53












SRC17-696

240789

1370158

162

115

-58

102



No significant value












SRC17-697

240759

1370125

153

115

-58

150

2

12

10

0.63












SRC17-698

240672

1369995

152

115

-58

160

142

150

8

1.45












SRC17-699

240759

1369950

160

115

-58

160



No significant value












SRC17-700

240851

1369910

163

115

-58

159



No significant value












SRC17-701

240799

1370107

160

115

-58

102

52

56

4

1.06












SRC17-702

240459

1370093

145

115

-58

135

40

44

4

8.45








68

86

18

0.59








96

112

16

0.58












SRC17-703

240508

1370072

135

115

-58

Including

20

24

4

1.17












SRC17-704

240416

1370113

136

115

-58

150

68

74

6

1.24








80

130

50

2.01







Including

80

84

4

9.7












SRC17-705

240825

1370368

158

115

-58

102

46

50

4

1.4












SRC17-706

240489

1370405

164

115

-58

150

66

94

28

1.16












SRC17-707

240963

1369081

206

115

-58

140

116

126

10

0.63












SRC17-708

240955

1368926

204

115

-58

138

96

100

4

1.9












SRC17-709

240870

1368961

204

115

-58

150



No significant value












SRC17-710

240716

1370021

155

115

-58

160

12

24

12

0.81












SRC17-711

240765

1370004

157

115

-58

168

46

88

42

0.8







Including

50

66

16

1.01








102

118

16

1.1







Including

112

118

6

1.92












SRC17-712

240708

1370141

153

115

-58

170

22

48

26

1.25







Including

40

48

8

2.53












SRC17-713

240555

1370658

146

115

-58

126

18

22

4

1.39












SRC17-714

240812

1369985

154

115

-58

102

30

40

10

2.22







Including

32

36

4

4.44












SRC17-715

241070

1369480

187

115

-58

138

34

38

4

1.41












SRC17-716

241024

1369486

180

115

-58

132

68

74

6

1.87







Including

72

74

2

4.97












SRC17-717

240616

1368691

147

115

-58

150



No significant value












SRC17-718

240709

1368649

158

115

-58

150

86

94

8

2.8












SRC17-719

240804

1368609

188

115

-58

156



No significant value












SRC17-720

240899

1368565

150

115

-58

150



No significant value












SRC17-721

240974

1368530

162

115

-58

150



No significant value












SRC17-722

241100

1368582

166

115

-58

146



No significant value












SRC17-723

240644

1370615

155

115

-58

54



No significant value












Notes:

  • Drillhole intercepts are calculated using a minimum downhole length of 4 metres, a cut-off grade of 0.5 g/t gold, and may include
    up to 4 metres of internal dilution.
  • For brevity, drillhole intercepts with a downhole length of less than 10 metres and grading less than 1.0 g/t gold are not reported.
  • Higher grade sub-intervals are highlighted for intervals that are equal to or exceed an 8.0 g/t gold cut-off grade using the
    parameters above.
  • The true widths of intersections are unknown at this time, but are interpreted to approximate the reported downhole lengths.

Figure 1: Diakha - Drill hole plan map (CNW Group/IAMGOLD Corporation)

SOURCE IAMGOLD Corporation

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