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Côté Gold Project, Ontario

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Gogama, Ontario, Canada


64.75% IAMGOLD

Project Status

Feasibility Study announced November 1, 2018

Reserves and Resources (Attributable Basis)

  • Total Proven and Probable Reserves of 4.7 million ounces.
    • 69% of total Reserve ounces are in the Proven category.
  • Total Measured and Indicated Resources (inclusive of Reserves) of 6.5 million ounces.
  • Total Inferred Resources of 1.6 million ounces.

Project Highlights

Project Economics and Key Parameters

Base Case1 Extended2
Mining Capacity 62 Mtpa 70 Mtpa
Milling Capacity 13.1 Mtpa 13.1 Mtpa
LOM Average Annual Gold Production 367,000 oz. 372,000 oz.
LOM Average Gold Recovery Rate 91.8% 91.8%
Average production during full production years 428,000 oz. (years 1 - 12) 407,000 oz. (years 1 - 15)
Mine Life 16 years 18 years
LOM Average Total Cash Costs $594/oz $606/oz
LOM Average AISC $694/oz $703/oz
Average Mill Feed Grade 0.98 g/t Au 0.97 g/t Au
Average LOM Strip Ratio 2.42:1 2.62:1
Estimated Capital Expenditure

Initial Capital3 $1,147 million $1,147 million
Sustaining Capital4 $527 million $589 million
Closure Costs $63 million $63 million
Gold Price Assumption used in financial analysis $1,250/oz $1,250/oz
Pre-tax NPV (5%) $1,242 million $1,404 million
Pre-Tax IRR 18.7% 18.7%
After-tax NPV (5%) $795 million $905 million
After-tax IRR 15.2% 15.4%
Payback Period 4.4 years 4.4 years

1 The Base Case supports the current permitting process.

2The Extended Mine Plan supports the total Mineral Reserves and may require permit amendments. Extended Mine Plan economic parameters are stand-alone and are not additive to the Base Case.

3 The Company expects to enter into equipment lease arrangements of approximately $134 million.

4 For the purposes of this feasibility study, post operating start-up, all waste mining costs and major equipment components are included in operating costs as expenses and are not included in sustaining capital.

* US$/C$ exchange rate of $1.30.


The Côté Gold Project is located in the Chester and Yeo Townships, District of Sudbury, in northeastern Ontario. It is approximately 20 km southwest of Gogama, 130 km southwest of Timmins, and 200 km northwest of Sudbury, roughly 5 km west of Highway 144.

The Project area is characterized by gentle hills, forests, lakes and rivers. The Project area is located on two subwatersheds, the Mollie River system and the Mesomikenda River system. Additionally, the continental watershed divide is located south of the Project property, with the nearest boundary located southwest and more than 3.5 km from the proposed open pit location. Land use in the area consists of recreational activities by locals and tourists, including fishing, camping and hunting. It is also extensively used for sustainable harvesting of timber.


IAMGOLD acquired Trelawney Mining and Exploration Inc. in 2012. Trelawney had carried out exploration activities at the Project site since 2009.

Exploration activities have been ongoing in the area since the early 1900s by various companies and government agencies. More concentrated mineral exploration efforts were conducted in the early 1940s and from the early 1970s to about 1990.

Since its discovery in 2010, extensive diamond drilling activities have been undertaken to delineate the Côté Gold deposit.


The deposit is underlain by rocks of the Swayze greenstone belt representing the southwestern extension of the Abitibi greenstone belt of the Superior Province. The Swayze belt contains a diversity of extrusive and intrusive igneous rock types ranging from ultramafic through felsic compositions, as well as, both chemical and clastic sedimentary rocks. The Swayze greenstone belt underwent a complex and protracted structural history of polyphase folding, development of multiple foliations, ductile high-strain zones, and late brittle faulting.

Chester Township overlies a narrow greenstone belt assemblage which separates the Kenogamissi granitoid complex to the south. A portion of the northern edge of the Ramsey-Algoma granitoid complex is called the Chester Granitoid Complex (CGC). The Côté Gold deposit is underlain by calc-alkalic pyroclastic metavolcanics of felsic to intermediate composition (Chester Group), felsic to intermediate granitoid intrusive rocks, namely tonalite, trondhjemite, granodiorite, and diorite of the CGC and related migmatites. The granitoid rocks are very heterogeneous reflecting a number of primary igneous intrusive phases, migmatization and assimilation of older country rocks and local rafts and screens of the intruded supracrustal lithologies.


The Côté Gold Project deposit consists of low to moderate grade gold +/- copper mineralization which is associated with brecciated intermediate to felsic, and locally mafic intrusive rocks. The nature of the alteration and mineralization suggests a porphyry-style deposit. Regionally, two different types of gold mineralization are recognized. The historically important mineralization can be termed quartz vein and fracture associated, while the more recent discovery of the Côté Gold deposit represents a large gold mineralized system associated with altered and brecciated intrusive rocks interpreted as an Archean gold porphyry deposit. The extent and limits of the mineralized volume hosting the Côté Gold deposit are not yet defined but currently it has an east-northeast extent of at least 1200 m, a width of 100 m to 300 m, and a depth extent of more than 500 m. The mineralized zone remains open along strike and at depth. Drilling supports an emerging understanding of the geology where a core breccia mass within diorite is surrounded by granodiorite. A gold-mineralizing hydrothermal system has overprinted the volume of magmatically brecciated rock and developed as yet poorly defined zones of propylitic and potassic alteration.

What Is An Environmental Assessment?

An Environmental Assessment (EA) is a planning and decision-making process that is used to identify potential environmental effects of a project and associated mitigations to manage these effects. The EA predicts whether there will be significant adverse environmental effects from a project after mitigation measures have been implemented. An EA also includes a follow-up and monitoring program to verify the accuracy of the EA predictions and the effectiveness of the mitigation measures.

In Ontario, the Federal and Provincial EA processes can be coordinated so that a single EA meets the regulatory and legal requirements of both jurisdictions. The Ontario Ministry of Environment and Climate Change (MOECC) leads the EA process in Ontario, pursuant to the Environmental Assessment Act. Federally, the EA process is led by the Canadian Environmental Assessment Agency (CEA Agency) under the Canadian Environmental Assessment Act (CEAA 2012).

An EA includes:

  • A description of the proposed project
  • A description of the existing environmental conditions (also known as baseline studies)
  • Plans to involve and seek feedback from regional Indigenous communities, local communities, government agencies and other interested stakeholders
  • When appropriate, an evaluation of project alternatives
  • Identification of possible environmental effects (positive or negative)
  • Proposed measures to mitigate and manage identified possible environmental effects
  • Plans for follow-up and monitoring programs

The EA process ensures that:

  • Opportunities are provided to Indigenous communities, local communities, government agencies and other interested stakeholders to participate in the EA process
  • Environmental factors are included in project planning and decision-making
  • Potential effects of the project are identified early-on
  • Measures are identified to avoid, manage or mitigate effects on the environment

Federal Environmental Assessment

The first step in the Federal EA process is for the proponent to submit a Project Description to the CEA Agency. The purpose of the Project Description is to determine if a Federal EA is required under CEAA 2012, and to assist the CEA Agency in developing the Environmental Impact Statement (EIS) Guidelines outlining the scope of the Federal EA for the Project.

Once the guidelines have been issued, the proponent prepares the EIS in accordance with the guidelines. Following review of the EIS material, the CEA Agency prepares a draft EA Report for public comments and then submits a final EA Report to the Federal Minister of Environment. Based on a review of the EA Report, the Federal Minister will issue a Decision Statement for the Project. If the Minister concludes that no significant adverse environmental effects will occur as a result of the project, the project will proceed into permitting, as required.

Provincial Environmental Assessment

In Ontario, proposed mining projects, as a whole, are not subject to the Environmental Assessment Act (EAA), though certain project components may be. Proponents have the option to enter into a Voluntary Agreement with the MOECC to complete an Individual EA for a project to ensure that the components of the proposed project meet the requirements of the EAA.

The first step in the Provincial Individual EA process is to develop and submit a Terms of Reference (ToR) for the EA. The ToR provides the proposed framework and requirements for the preparation of the EA. Accompanying the ToR is a Record of Consultation. The Record of Consultation documents all engagement and consultation activities completed by the Proponent, up to the date of the document submission.

Receiving approval on the ToR signifies the official commencement of the EA for the Project. Proponents are then required to issue a public Notice of Commencement of Environmental Assessment. Once the EA Report is prepared, it is submitted to the MOECC for review and approval. The MOECC then prepares a Ministerial Review of the Project, which is submitted to the Provincial Minister of the Environment and Climate Change. The Minister will then determine whether the EA commitments will effectively mitigate any potential adverse effects and will issue a Notice of Approval for the Project to proceed.

What is the Status of the Côté Gold EA?

IAMGOLD received a positive decision statement from the CEA Agency and Notice of Approval from the MOECC for the Côté Gold Project. Additionally, in June of 2017, IAMGOLD announced positive results from a Pre-feasibility Study (PFS) for the Project. A feasibility study is expected to be completed in the first half of 2019. Subject to an acceptable feasibility study, a favourable development environment and a positive construction decision commercial production is expected to begin in the first half of 2021.

Côté Gold Project EA Process Overview

Permits and Approvals

IAMGOLD will continue to work with Federal and Provincial regulators to ensure all permits required for the Project are appropriately identified and acquired. Some of the additional permits and approvals expected for the Project may include:

  • Fisheries Act approvals
  • Environmental Compliance approvals for industrial sewage works, air and noise emissions, and potable water treatment facilities
  • Navigable Waters approval
  • Permits to Take Water
  • Lakes and Rivers Improvement Act approvals
  • Construction Permits
  • Transmission line approvals
  • Closure Plan
  • Disposition of Crown Land

Environmental Effects Review

During the environmental assessment process, IAMGOLD received valuable feedback from government regulators, technical experts, local stakeholders, and Indigenous communities regarding the Project. IAMGOLD carefully considered this feedback and worked diligently to revise the design of the Project to further reduce potential effects on the environment and local communities.

To ensure changes to the Project design are well communicated to government regulators, the public and Indigenous communities, IAMGOLD will be preparing and engaging these parties on an Environmental Effects Review (EER) document. The EER will provide an overview of any changes to the potential effects identified in the EA process, and demonstrate how revisions to the Project design are compliant with Federal and Provincial conditions of approval.

For IAMGOLD, effective stakeholder engagement is the foundation of positive community relations. Our guidance on stakeholder engagement is based on the principles of trust, respect and transparency. Additional information about IAMGOLD’s global approach to community relations can be found here.

Since taking ownership of the Côté Gold Project in 2012, IAMGOLD has sought to develop positive and productive relationships with local First Nation and Métis communities and other neighbouring communities. The development of these relationships has helped IAMGOLD better understand how the Project can be optimized to benefit the people who live and work near the Project site.

Throughout the EA process, IAMGOLD hosted several events in local communities to share information and gather feedback about the Project. After careful consideration of the input received from government regulators, members of the public, and Indigenous communities, IAMGOLD is proposing changes to the Project design to further reduce environmental and social effects.

To support ongoing communication about the Project, IAMGOLD will hold open houses and community meetings. We invite you to come and learn about the Project, provide your feedback, ask questions and get involved!

Upcoming Engagement Events

IAMGOLD has a number of engagement events planned. We hope to see you at one of our events. Check back for updates on future events.

Past Engagement Events



June 2019 1.55 MB
March 2019 2.13 MB
December 2018 560 KB
August 2018 2.49 MB
May 2018 10.78 MB
February 2018 2.96 MB
Summer 2015 1.13 MB
Spring 2015 439 KB
Fall 2014 472 KB
Summer 2014 418 KB
Winter 2014 395 KB
Fall 2013 514 KB
Summer 2013 2.69 MB
Winter 2013 2.43 MB

Class Environmental Assessment Transmission Line

Archived Notices


Should you have any further questions about the Project, we would be happy to discuss them with you.

All questions or comments about the Project can be directed to:

IAMGOLD Corporation – Côté Gold Project
401 Bay Street, Suite 3200, P.O. Box 153
Toronto, Ontario
M5H 2Y4
T: 416-594-2881 or 705-269-0010 x 205

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