Update on Drilling Results - Report on IAMGOLD

Aug 03, 2015, 09:15 ET from www.aciassociation.com

NEW YORK, August 3, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on IAMGOLD Corp. (NYSE: IAG). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=IAG  

Highlights from our IAG Report include:

  • Drilling Results from Boto Gold Project - On July 20, 2015, the Toronto-based international gold producer IAMGOLD Corp published additional drilling results from its Boto Gold Project in eastern Senegal, West Africa. In the release, the Company reported assay results from the final 26 infill diamond drill holes. The infill diamond drill holes totaled 7,782 metres, out of the 12,416 metres completed during the 2015 delineation drilling program. The highlights from the assay results include:
  • Drillhole DBDD-2253: 25 metres grading 4.26 g/t gold, including 8 metres grading 8.80 g/t gold
  • Drillhole DBDD-2255: 25 metres grading 3.07 g/t gold
  • Drillhole DBDD-2259: 32 metres grading 2.81 g/t gold, including 3 metres grading 9.61 g/t gold and 65 metres grading 1.57 g/t gold
  • Drillhole DBDD-2269: 18 metres grading 4.96 g/t gold, including 4 metres grading 17.15 g/t gold
  • Drillhole DBDD-2280: 36 metres grading 3.59 g/t gold, including 7 metres grading 9.46 g/t gold
  • Brief Description of Boto Project - Located in eastern Senegal along the Senegal-Mali border, IAMGOLD's Boto project comprises 236 square kilometres of exploration licenses. Describing the geological setting of the project, the Company stated that the area is similar to the prolific Sadiola and Loulo gold districts in adjacent Mali, being underlain by highly prospective, Birimian-aged metasedimentary, volcanic and intrusive rocks along a seven kilometre strike length of the Senegal-Mali Shear Zone. Further, the project hosts an indicated resource of 22.8 million tonnes averaging 1.7 grams of gold per tonne for 1.23 million ounces and an inferred resource of 10.96 million tonnes averaging 1.8 grams of gold per tonne for 635,000 ounces. A considerable amount of total resources, in percentage terms, are derived from Malikoundi deposit. According to the Company, the newly discovered Malikoundi deposit is the largest deposit discovered to date on the property.
  • Revising the Resource Model with Results - With the completion of the 12,416 metres of diamond drilling in 2015, IAMGOLD has successfully completed the infill delineation drilling campaign. The Company initiated this 50x50 metre drilling campaign in 2014. The Company informed that the final assay results are being incorporated into a revised resource model which will allow completion of an updated resource estimate anticipated in the third quarter. Besides, the Company has prepared the metallurgical composite samples from selected core samples and has sent them to Canada for further metallurgical test work in Q3 2015.

To find out how this influences our rating on IAMGOLD Corp., read the full report in its entirety here: http://www.aciassociation.com/?c=IAG

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