Local News Release
Check out our most recent Newsletter
Fact Sheet (Dec 2021)
2021 Côté Technical Report (November 2021)
For information about working at Côté Gold, community and sustainability, please visit cotegold.ca
Location
Gogama, Ontario, Canada
Ownership
64.75% IAMGOLD
Project Status
Q3 2021 Project Update (see news release)
Côté Gold July 2021 Progress Video
Construction Decision Approval announced July 21, 2020
Reserves and Resources (Attributable Basis)
- Total Proven and Probable Reserves of 4.7 million ounces.
- 59% of total Reserve ounces are in the Proven category.
- Total Measured and Indicated Resources (inclusive of Reserves) of 8.8 million ounces.
- Total Inferred Resources of 3.6 million ounces.
Project Highlights
Please refer to the October 18, 2021 news release and the 2021 Technical Report for more detail.
2021 Technical Report: Project Economics and Key Parameters
|
|
Metric (on a 100% basis)
|
Units |
2021 Technical Report1 |
| Gold price assumption |
$/oz |
1,600 |
| USDCAD assumption |
$USD $CAD |
1.30 |
| Mining: open pit |
mine capacity – Mtpa |
70 |
| Process: crush, grind, gravity, leach, CIP |
mill capacity – Mtpa |
13.1 |
| Mill daily throughput |
tonnes per day |
36,000 |
| Years 1 to 5 average gold production1 |
oz |
489,000 |
| LOM average annual gold production |
oz |
367,000 |
| LOM recovered gold |
million ounces |
6.60 |
| LOM average recovery rate |
% |
91.8 |
| Mine life |
years |
18 |
| Average grade |
g/t gold |
0.96 |
| Average LOM strip ratio |
waste:ore |
2.7:1 |
| Total costs (w/out leases) |
$ millions |
1,791 |
| Total costs (w/ leases) |
$ millions |
1,666 |
| Remaining costs from July 1, 2021 (w/out leases) |
$ millions |
1,505 |
| Remaining costs from July 1, 2021 (w/ leases) |
$ millions |
1,380 |
| LOM average cash costs |
$/oz sold |
659 |
| LOM average AISC |
$/oz sold |
802 |
| Sustaining capital |
$ millions |
866 |
| Expansion capital |
$ millions |
223 |
| NPV5% after tax |
$ millions |
1,597 |
| IRR after tax |
% |
19.0 |
| Payback period |
years |
3.7 |
1 The metrics provided are based on the Extended Case cited in the 2018 Technical Report, updated as discussed in the 2021 Technical Report. Years 1 to 5 average annual production commence on commercial production.
Location
The Côté Gold Project is located in the Chester and Yeo Townships, District of Sudbury, in northeastern Ontario. It is approximately 25 km southwest of Gogama, 125 km southwest of Timmins, and 175 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.
History
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.