Ownership
70% IAMGOLD | 30% Sumitomo Metal Mining Co. Ltd. Joint Venture1
Location
Côté Gold 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. The mine is accessible year round via Highway 144 which runs north-south 5 km to the east. The Côté Gold properties were assembled through staking and option agreements covering a total area of about 596 km2.
Côté Gold is located on Treaty 9 territory, on the traditional lands of Mattagami First Nation and Flying Post First Nation as well as within the traditional harvesting area of the Abitibi Inland Historic Métis Community, Métis Nation of Ontario Region 3.
Status
The first gold pour was completed on March 31, 2024, and commercial production was announced on August 1, 2024.
Operations are ramping up to a nameplate processing throughput rate of 36,000 tpd by Q4 2025.
Reserves and Resources
Category
|
|
Tonnes |
Grade |
Ounces |
(100% basis)
|
|
(Mt) |
(g/t) |
(Moz) |
Proven & Probable
|
Côté |
234.6 |
1.01 |
7.61 |
M&I* |
Côté |
444.8 |
0.84 |
12.1 |
|
Gosselin |
161.3 |
0.85 |
4.4 |
|
Total |
606.1 |
0.85 |
16.5 |
Inferred |
Côté |
60.6 |
0.61 |
1.2 |
|
Gosselin |
123.9 |
0.75 |
3.0 |
|
Total |
184.5 |
0.70 |
4.2 |
* Inclusive of Mineral Reserves
History
IAMGOLD acquired Trelawney Mining and Exploration Inc. in 2012. Trelawney had carried out exploration activities at the Project site since 2009 prior to the acquisition.
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.
Footnote 1: Côté Gold is owned as a 60/40 JV between IMG and Sumitomo Metal Mining Co. Ltd. and carries a 7.5% NPI royalty. IMG holds the option to return to 70% ownership which it intends to execute before it expires in 2026. Refer to news release on December 19, 2022