Iamgold Assay Results at Nelligan GOLD Project Confirm Continuity and Extends Mineralization to the WEST
NEWS RELEASE TSX: IMG NYSE: IAG
IAMGOLD ASSAY RESULTS AT NELLIGAN GOLD PROJECT CONFIRM
CONTINUITY AND EXTENDS MINERALIZATION TO THE WEST
Toronto, Ontario, December 16, 2021 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) is pleased to
announce initial assay results from its 2021 exploration diamond drilling program at its Nelligan joint venture
project (IAMGOLD: 75%, Vanstar Mining Resources Inc. (“Vanstar”): 25%), located 60 kilometres southwest of
Chibougamau, Quebec, Canada and 15 kilometres from the Monster Lake Project 100% owned by IAMGOLD .
The Nelligan Gold project (on a 100% basis) hosts Inferred Mineral Resources containing 3.2 million ounces of
gold grading 1.02 g/t Au (refer to news releases dated October 22, 2019 and February 17, 2021).
Highlights include:
Renard Zone - Infill
• 86.7 meters (“m”) at 1.34 grams per tonne gold (“ g/t Au ”) in drill hole NE-21-170 from 126.0 m
including
o 12.0 m at 2.65 g/t Au from 148.5 m;
Followed by a separate interval of:
o 45.0 m at 2.13 g/t Au from 222.0 m including
o 12.0 m at 6.27 g/t Au from 234.0 m;
• 111.0 m at 1.11 g/t Au in drill hole NE-21-173 from 175.5 m; followed by a separate interval of:
o 16.5 m at 2.05 g/t Au from 327.0 m;
• 46.5 m at 1.26 g/t Au in drill hole NE-21-172 from 183.0 m including
o 12.7 m at 3.05 g/t Au from 200.4 m;
Followed be a separate interval of:
o 28.7 m at 1.70 g/t Au from 238.3 m including
o 0.9 m at 27.0 g/t Au from 239.1 m;
Followed by a separate interval of:
o 42.0 m at 1.06 g/t Au from 301.5 m;
• 34.5 m at 1.26 g/t Au in drill hole NE-21-174 from 199.5 m; followed by a separate interval of:
o 19.5 m at 3.80 g/t Au from 283.5 m including
o 1.5 m at 24.6 g/t Au from 283.5 m;
Followed by a separate interval of:
o 7.6 m at 5.69 g/t Au from 343.5 m including
o 1.5 m at 21.0 g/t Au from 348.0 m;
Renard Zone – West Extension
• 40.5 m at 1.28 g/t Au in drill hole NE-21-178 from 51.0 m;
• 15.0 m at 7.81 g/t Au in drill hole NE-21-180 from 36.0 m including
o 1.3 m at 70.1 g/t Au from 45.0 m.
Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated: “The results of the 2021 Nelligan drill
program continue to confirm the continuity of mineralization in the resource area at similar observed grades and
widths as we work to improve resource classification. Importantly, our drill program continues to confirm the
extension of mineralization along strike to the west – well beyond the area of the current ly defined mineral
resources. This provides a significant opportunity to further increase the mineralized envelope of Nelligan, which
remains a prime objective of our exploration program. We look forward to initiating our 2022 winter exploration
program which will step out to test the west extensions and providing an updated Nelligan resource towards the
end of 2022.”
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The Company is reporting assay results from thirteen (13) diamond drill holes totaling 4,260 metres as part of the
completed 2021 drilling program totaling 9,534 metres. One hole was re- drilled to validate the results from a
previous hole for which core recovery was considered very poor and not representative. The assay results
reported herein are provided in Table 1 below (see plan map attached to this news release for drill hole locations
– Figure 1).
The 2021 diamond drilling program was designed to in-fill and delineate selected areas of the deposit to improve
resource classification, as well as continue step-out drilling to evaluate and confirm the extension of mineralization
to the west along strike which was sparsely test ed in previous drilling programs. Mineralization is now observed
over a strike length of at least 1,500 metres, over widths varying from 100 to 300 metres and to a depths ranging
from 200 to 350 metres. The mineralized system of Renard remains open along strike and at depth.
Next Steps
The results of the 2021 exploration drilling program will be used to update the deposit model to help guide future
drilling programs. Planning is well advanced for the 2022 winter exploration program which will test further the
west extensions and expand the known resources in specific areas. An updated resource estimate is anticipated
for the end of 2022.
Regional exploration activities and future exploration programs continue to be guided by the ongoing incorporation
and compilation of exploration data to refine geological, geochemical and structural models to help identify and
prioritize additional targets for evaluation on the large project land package.
Figure 1 – Nelligan – Drill hole plan map and highlighted 2021 assay results.
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About the Nelligan Project
The Nelligan project is underlain by a portion of the Caopatina segment of the North Volcanic Zone of the Abitibi
Belt of the Superior Province. The property is centered on the E -W Druillette syncline with sediments of the
Caopatina Formation bounded to the north and to the south by volcanic rocks of the Obatogamau Formation. The
North and South portions of the property are occupied by granodioritic to tonalitic intrusions. The project is
transected by numer ous regional and local structures and deformation zones which can be important in the
localization of gold mineralization.
Gold showings of the area are observed broadly as two styles of mineralization: 1) Quartz-sulphide vein type, and
2) disseminated sul phide (pyrite) mineralization in hydrothermally altered units. Mineralization observed on the
Nelligan project is dominated by the latter and is characterized by hydrothermal alteration of the host meta-
sedimentary units displaying variable carbonatization, sericite, phlogopite and pervasive silicification; and
associated with widespread disseminated pyrite, varying from 1% to locally 15%, trace molybdenite and
occasionally fine grains of visible gold. Mineralization associated with the estimated mineral resources has been
intersected in drilling over a strike length of more than 1.5 kilometres , and to a depth of 200 to over 350 vertical
metres.
As at December 31, 2020, IAMGOLD reported (on a 100% basis) inferred mineral resources of 97.0 million tonnes
grading 1.02 g/t Au for 3.2 million contained ounces (see news releases dated October 22, 2019 and February
17, 2021). In 2019 the Nelligan Gold Project was awarded the Discovery of the Year by the Association de
l'Exploration Minière du Québec (“AEMQ”).
The Nelligan Gold Project is held under an earn- in option to joint venture agreement with Vanstar (IAMGOLD:
75%; Vanstar: 25%) where IAMGOLD has a further option to acquire an additional interest of 5%, to hold an 80%
interest in the Nelligan project by completing and delivering a Feasibility Study. Vanstar would then retain a 20%
undivided non-contributory carried interest until the commencement of commercial production, after which: (1) the
20% undivided interest becomes participating; and (2) Vanstar will pay its attributable portion of the total
development and construction costs to the commencement of commercial production from 80% of its share of any
ongoing distributions from the Joint Venture. Vanstar will also retain a 1% NSR royalty on selected claims of the
project.
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Table 1 Nelligan Project Drilling Results - 2021 Drilling program
Hole No. UTM NAD83 Zone18 AZ DIP EOH from To Interval True
Width (1)
Au (2) (3) NOTE
Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)
NE-21-166 522996.24 5474057.94 381.76 330 -50 276.00 127.75 144.00 16.25 10.45 0.51 RENARD FOOTWALL ZONE
NE-21-167 522878.86 5474071.60 381.05 330 -45 222.00 60.00 64.50 4.50 3.90 0.97 RENARD ZONE
120.00 126.00 6.00 4.24 0.78 RENARD FOOTWALL ZONE
NE-21-168 522790.80 5474032.70 375.74 330 -50 243.00 54.00 69.90 15.90 11.24 1.03 RENARD ZONE
79.50 85.50 6.00 4.60 0.89
NE-21-169 522841.38 5473925.46 379.44 330 -49 330.00 62.20 118.50 56.30 43.13 0.88 RENARD ZONE
Including (3) 100.50 106.90 6.40 4.53 2.30
135.00 144.00 9.00 6.36 0.96
160.50 186.00 25.50 19.53 1.02
Including (3) 160.50 175.50 15.00 11.49 1.33
204.00 220.50 16.50 12.64 0.78
240.00 253.50 13.50 10.34 0.68 RENARD FOOTWALL ZONE
NE-21-170 522859.83 5473888.25 380.74 330 -50 402.00 47.02 62.08 15.06 11.54 1.93
Including (3) 51.00 52.50 1.50 1.15 10.20
126.00 212.65 86.65 66.38 1.34 RENARD ZONE
Including (3) 148.50 160.50 12.00 9.19 2.65
Including (3) 204.00 206.30 2.30 1.76 6.22
222.00 267.00 45.00 31.82 2.13 (1.85
capped at
30g/t)
Including (3) 234.00 246.00 12.00 8.49 6.27 (5.23
capped at
30g/t)
Including (3) 238.50 240.00 1.50 1.06 38.30
NE-21-171* 523007.00 5474050.26 381.45 330 -51 141.00 No significant results
NE-21-172 522845.36 5473812.82 379.84 330 -48 426.00 63.00 72.00 9.00 6.89 0.58 ZONE 36
183.00 229.50 46.50 40.27 1.26 RENARD ZONE
Including (3) 200.35 213.00 12.65 11.46 3.05
Including (3) 211.25 212.38 1.13 1.02 13.25
238.30 267.00 28.70 24.85 1.70
Including (3) 239.10 240.00 0.90 0.78 27.00
301.50 343.50 42.00 36.37 1.06 RENARD FOOTWALL ZONE
Including (3) 316.50 318.00 1.50 1.30 7.09
NE-21-173 522803.50 5473795.67 380.27 330 -48 456.00 46.18 52.50 6.32 4.84 1.91 ZONE 36
Including (3) 47.52 49.54 2.02 1.55 4.20
102.50 112.50 10.00 6.43 1.49
118.50 126.00 7.50 4.82 1.27
175.50 286.50 111.00 90.93 1.11 RENARD ZONE
327.00 343.50 16.50 12.64 2.05 RENARD FOOTWALL ZONE
Including (3) 330.00 333.00 3.00 2.30 5.41
NE-21-174 522755.39 5473775.04 383.16 330 -45 471.00 75.00 97.50 22.50 18.43 0.59 ZONE 36
157.50 166.50 9.00 6.36 0.66
199.50 234.00 34.50 24.40 1.26 RENARD ZONE
244.50 253.74 9.24 7.08 0.84
264.00 274.50 10.50 8.04 1.41
283.50 303.00 19.50 14.94 3.80
Including (3) 283.50 285.00 1.50 1.15 24.60 RENARD FOOTWALL ZONE
343.45 351.00 7.55 5.34 5.69
Including (3) 348.00 349.50 1.50 1.06 21.00
NE-21-175 522682.04 5473806.27 381.33 330 -48 441.00 45.00 58.50 13.50 10.34 0.80 RENARD ZONE
94.65 106.50 11.85 9.08 0.64
150.00 161.10 11.10 8.50 7.16
Including (3) 153.15 156.98 3.83 2.93 18.99
178.00 196.50 18.50 14.17 0.60
211.50 250.50 39.00 29.88 1.86
Including (3) 248.00 249.00 1.00 0.77 25.10
259.50 273.00 13.50 11.06 0.65 RENARD FOOTWALL ZONE
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Table 1 Nelligan Project Drilling Results - 2021 Drilling program
279.00 292.25 13.25 10.15 2.77
Including (3) 288.00 289.50 1.50 1.06 18.45
360.00 369.00 9.00 7.79 1.02
NE-21-177 521932.88 5473827.80 375.17 340 -45 276.00 48.00 60.00 12.00 11.82 2.08 RENARD WEST ZONE
Including (3) 49.50 51.00 1.50 1.48 6.67
72.00 78.00 6.00 4.60 0.76
103.50 142.50 39.00 29.88 0.69 RENARD WEST FW ZONE
153.00 171.00 18.00 13.79 1.13
Including (3) 162.00 163.50 1.50 1.15 5.37
243.00 246.00 3.00 2.30 6.88
Including (3) 243.00 244.50 1.50 1.15 12.65
NE-21-178 521985.60 5473836.37 375.42 340 -45 261.00 51.00 91.50 40.50 35.07 1.28 RENARD WEST ZONE
Including (3) 78.80 81.00 2.20 1.91 4.72
103.00 127.50 24.50 18.77 0.76
Including (3) 103.00 111.00 8.00 6.13 1.27
141.00 153.00 12.00 9.19 1.56 RENARD WEST FW ZONE
195.00 202.50 7.50 5.75 0.53
229.50 240.00 10.50 8.60 0.58
NE-21-180 522142.43 5473855.84 372.42 330 -50 315.00 36.00 51.00 15.00 10.61 7.81 (4.26
capped at
30g/t)
RENARD WEST ZONE
Including (3) 45.00 46.33 1.33 0.94 70.10
94.50 102.00 7.50 5.30 1.17
117.00 120.00 3.00 2.12 3.28 RENARD WEST FW ZONE
132.00 147.00 15.00 10.61 1.21
157.50 181.50 24.00 18.39 0.81
Including (3) 157.50 162.00 4.50 3.45 1.79
Including (3) 175.50 181.50 6.00 4.60 1.03
Notes:
1. True widths are estimated at 65 to 95% of the core interval.
2. Drill hole intercepts are calculated with a lower cut-off 0.50 g/t Au and may contain lower grade interval of up to 5 metres in length. They are
generally reported with a minimum g*m (or Metal factor) of 5.
3. Assays intervals are reported uncapped and capped at 30 g/t Au and high grade sub -intervals are highlighted.
* Hole NE-21-171 is a re-drilled section with excessive bad core recovery in the original hole NE-21-166
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
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 are forward -looking statements.
Forward-looking statements are generally identifiable by, but not limited to, the use of the words “may”, “will”, “should”, “woul d”,
“continue”, “expect”, “expected”, “budget”, “forecast”, “anticipate”, “estimate”, “believe”, “intend”, “appear” “plan”, “schedule”, “guidance”,
“outlook”, “potential”, “plans”, “targeted”, “focused”, 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 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, but are not limited
to, differences in the mineral content within the material identified as mineral resources or mineral reserves from that predicted, the
failure to accurately estimate mineral resources or mineral reserves, unexpected increases in capital expenditures, operating
expenditures and exploration expenditures, changes in development or mining plans due to changes in logistical, technical or other
factors, the possibility that future exploration results will not be consistent with the Company's expectations, changes in w orld 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 at www.sec.gov/edgar.shtml and Canadian securities regulatory authorities at www.sedar.com,
which are incorporated herein. 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. The
Company disclaims any intention or obligation to update or revise any forward- looking statements whether as a result of new
information, future events or otherwise except as required by applicable law.
CAUTIONARY NOTE TO U.S. INVESTORS REGARDING DISCLOSURE OF MINERAL RESERVE AND MINERAL
RESOURCE ESTIMATES
The mineral resource estimates contained in this news release have been prepared in accordance with NI 43- 101. These standards
are similar to those used by the United States Securities and Exchange Commission (the “SEC”) Industry Guide No. 7, as interpreted
by the SEC staff. However, the definitions in NI 43-101 differ in certain respects from those under Industry Guide 7. Accordingly, mineral
resource information contained in this news release may not be comparable to similar information disclosed by United St ates
companies.
As a result of the adoption of amendments to the SEC’s disclosure rules (the “SEC Modernization Rules”), which more closely align its
disclosure requirements and policies for mining properties with current industry and global regulatory practices and standards, including
NI 43-101, and which became effective on February 25, 2019, the SEC now recognizes estimates of "measured mineral resources",
"indicated mineral resources" and "inferred mineral resources." Issuers must begin to comply with the SEC Modernization Rules in their
first fiscal year beginning on or after January 1, 2021, though Canadian issuers that report in the United States using the
Multijurisdictional Disclosure System ("MJDS") may still use NI 43-101 rather than the SEC Modernization Rules when using the SEC's
MJDS registration statement and annual report forms.
United States investors are cautioned that while the SEC now recognizes "measured mineral resources", "indicated mineral resources"
and "inferred mineral resources" under the SEC Modernization Rules, investors should not assume that any part or all of the mineral
deposits in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. These terms
have a great amount of uncertainty as to their economic and legal feasibility. Under Canadian regulations, estimates of inferred mineral
resources may not form the basis of feasibility or pre-feasibility studies, except in limited circumstances.
Investors are cautioned not to a ssume that any "measured mineral resources", "indicated mineral resources", or "inferred mineral
resources" that the Company reports in this news release are or will be economically or legally mineable. Further, "inferred mineral
resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed
that any part or all of an inferred mineral resource will ever be upgraded to a higher category.
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QUALIFIED PERSONS, 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”).
Marie-France Bugnon, P. Geo., General Manager Exploration is a “qualified person” (a “ QP”) for the purposes of NI 43- 101 and is
responsible for the supervision of the preparation and review of the technical being reported on in this news release. The technical
information has been included herein with the consent and prior review of Ms. Bugnon and she has verified the data disclosed, and
data underlying the information or opinions contained herein.
The design of the drilling program and interpretation of results is under the control of IAMGOLD’s geological staff, including QPs
employing strict protocols consistent with NI 43-101 and industry best practices. The sampling of, and assay data from, the drill core is
monitored through the implementati on of a quality assurance - quality control (QA -QC) program. Drill core (NQ size) is logged and
samples are selected by the IAMGOLD geologists and sawn in half with a diamond saw at the project site. Half of the core is retained
at the site for reference purposes. Sample intervals may vary from 0.5 to 1.5 metres in length depending on the geological observations.
Half-core samples are packaged and transported in sealed bags to ALS Minerals Laboratory (“ALS”) located in Val -d’Or, Québec. A
formal chain-of-custody procedure was adopted for security of samples until their delivery at the laboratory. Samples are coarse crushed
to a -10 mesh and then a 1,000 gram split is pulverized to 95% passing - 150 mesh. ALS processes analytical pulps directly at their
facilities located in Val -d’Or which is ISO / IEC 17025 certified by the Standards Council of Canada. Samples are analyzed using a
standard fire assay with a 50 gram charge with an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams
per tonne, another pulp is taken and fire assayed with a gravimetric finish. Core samples showing visible gold or samples which have
returned values greater than 10.0 grams per tonne are re- analyzed by pulp metallic analysis. IAMGOLD inserts blanks and c ertified
reference standards in the sample sequence for quality control.
About IAMGOLD
IAMGOLD is a mid-tier gold mining company operating in three regions globally: North America, South America and West Africa. Within
these regions the Company is developing high potential mining districts that encompass operating mines and construction, development
and exploration projects. The Company’s operating mines include Essakane in Burkina Faso, Rosebel (including Saramacca) in
Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Côté Gold construction project in Canada,
the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in
the Americas and West Africa.
IAMGOLD employs approximately 5,000 people. IAMGOLD is committed to maintaining its culture of accountable mining through high
standards of Environmental, Social and Governance practices, including its commitment to Zero Harm®, in every aspect of its business.
IAMGOLD (www.iamgold.com) is listed on the New York Stock Exchange (NYSE:IAG) and the Toronto Stock Exchange (TSX:IMG)
and is one of the companies on the JSI index1.
1 Jantzi Social Index (“JSI”). The JSI is a socially screened market capitalization-weighted common stock index modeled on the S&P/TSX 60. It consists
of companies which pass a set of broadly based environmental, social and governance rating criteria.
IAMGOLD Contact Information
Graeme Jennings, Vice President, Investor Relations
Tel: 416 360 4743 | Mobile: 416 388 6883
Philip Rabenok, Manager, Investor Relations
Tel: 416 933 5783 | Mobile: 647 967 9942
Toll-free: 1 888 464 9999
This entire news release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through Newsfile’s website
at www.newsfilecorp.com. 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 www.iamgold.com/French/accueil/default.aspx.