Iamgold Extends Mineralization at the Nelligan GOLD Project, Quebec with Initial Assay Results from Its 2020 Winter Drilling
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD EXTENDS MINERALIZATION AT THE NELLIGAN GOLD PROJECT, QUEBEC WITH INITIAL
ASSAY RESULTS FROM ITS 2020 WINTER DRILLING
Toronto, Ontario, June 18, 2020 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today
announced initial assay results from its 2020 exploration diamond drilling program completed at its
Nelligan joint venture project (IAMGOLD Corporation: 75%, Vanstar Mining Resources Inc. (“Vanstar”):
25%), located 60 kilometres southwest of Chibougamau, Quebec, Canada. The Company is reporting
assay results from six (6) diamond drill holes totaling 3,717 metres completed as part of the 2020 drilling
program. Assays are pending from a further three (3) completed drill holes totaling 1,278 metres.
The assay results reported herein are provided in Table 1 below and include the following highlights:
(A drill hole plan map is attached to this news release.)
Renard Zone:
Drill hole NE-20-150: 25.1 metres grading 1.87 g/t Au
includes: 2.6 metres grading 4.72 g/t Au
Drill hole NE-20-151: 1.50 metres grading 33.8 g/t Au
and 28.5 metres grading 1.45 g/t Au
includes: 4.5 metres grading 5.75 g/t Au
Drill hole NE-20-152: 27.0 metres grading 2.86 g/t Au
includes: 3.0 metres grading 13.3 g/t Au
and 31.7 metres grading 1.08 g/t Au
includes: 1.5 metres grading 12.9 g/t Au
Renard West Zone:
Drill hole NE-20-155: 10.5 metres grading 10.5 g/t Au (4.95 g/t Au capped at 30g/t)
includes: 1.5 metres grading 69.1 g/t Au
and 28.5 metres grading 0.78 g/t Au
includes: 12.0 metres grading 1.18 g/t Au
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 (see news release dated October 22, 2019). The 2020 diamond drilling
program was designed to infill selected areas of the resource to upgrade resource classification from
Inferred to an Indicated category and evaluate potential resource extensions at depth and along strike.
Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: “We continue to be pleased
with these further positive results obtained from the 2020 program completed before our activities were
suspended as directed by the Government of Quebec in response to the COVID-19 crisis. The drilling
program continued to intersect the expected alteration and associated mineralization within the resource
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area, and importantly has demonstrated that the alteration system remains open along strike to the west
outside of the current modeled resource for potentially another 500 metres. Additional drilling is needed to
assess this potential and we look forward to the resumption of our drilling activities once conditions allow
us to do so in a safe manner.”
Next Steps
In response to the global COVID-19 crisis, IAMGOLD temporarily suspended its diamond drilling program
in progress on the Nelligan project on March 23rd. The 2020 exploration drilling program was planned to
involve the completion of approximately 8,000 metres focused on infill drilling to improve resource
classification as well as step-out drilling to evaluate potential resource extensions at depth and along
strike. A total of 4,995 metres of diamond drilling were completed up to the suspension of the program. A
summer drilling campaign is currently being designed to complete the drilling program, taking into
consideration summer access conditions as well as the implementation of safety protocols to prevent
COVID-19 infections. All pending assay results from drilling completed to date will be reported once they
are received, validated and compiled.
Additional metallurgical tests are also planned in the coming months to provide additional information on
the metallurgical recoveries from the various zones of mineralization comprising the Mineral Resources of
the Nelligan gold deposit and to further refine the process flow sheet parameters. The geological,
geochemical and structural models have been updated and refined to assist the selection of representative
metallurgical samples and to support further deposit studies.
Regional exploration activities will also continue to define and evaluate other priority targets on the
property with focused geological mapping programs supported by geochemical and geophysical surveys
as merited.
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 numerous 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 sulphide (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-sedimentry 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 1.0 kilometre, and to a
depth of over 350 vertical metres.
As at December 31, 2019, 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 d ated October 22, 2019
and February 18, 2020).
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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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.
The "Qualified Person" responsible for the supervision of the preparation and review of this information is
Marie-France Bugnon, P. Geo., General Manager Exploration. Marie-France is considered a "Qualified
Person" for the purposes of National Instrument 43-101 with respect to the technical information being
reported on. The technical information has been included herein with the consent and prior review of the
above noted Qualified Person. The Qualified person 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 qualified persons 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
implementation 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 half a
metre to one and a half 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. 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 grav imetric
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 certified reference
standards in the sample sequence for quality control.
CAUTIONARY STATEMENT ON 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 use of the words “may”, “will”, “should”, “continue”,
“expect”, “anticipate”, “estimate”, “believe”, “prospective”, “significant”, “significant potential”, “substantial”, transformative”,
“intend”, “plan” 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 of the Company 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, among other things, without limitation, failure to meet expected, estimated or planned gold production, unexpected
increases in all-in sustaining costs or other costs, unexpected increases in capital expenditures and exploration expenditures,
variation in the mineral content within the material identified as Mineral Resources and Mineral Reserves from that predicted,
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 world 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 and Canadian securities regulatory authorities. 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.
About IAMGOLD
IAMGOLD is a mid-tier mining company with three gold mines on three continents, including the
Essakane mine in Burkino Faso, the Rosebel mine in Suriname, and the Westwood mine in
Canada. A solid base of strategic assets is complemented by the Côté Gold development project
in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield
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exploration projects in various countries located in West Africa and the Americas. IAMGOLD is
committed to maintainin g its culture of accountable mining through high standards of ESG
practices and employs approximately 5,000 people.
IAMGOLD (www.iamgold.com) is listed on the Toronto Stock Exchange (trading symbol “IMG”)
and the New York Stock Exchange (trading symbol “IAG”).
IAMGOLD’s commitment is to Zero Harm, in every aspect of its business. IAMGOLD is one of the
companies on the JSI index.
For further information please contact:
Indi Gopinathan, Investor Relations Lead, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (416) 388-6883
Toll-free: 1-888-464-9999 [email protected]
Please note:
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/Home/default.aspx
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Notes:
1. True widths are estimated at 70 to 90% of the core interval.
2. Drill hole intercepts are calculated with a lower cut of 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 No. AZ DIP EOH from To Interval True
Width (1) Au (2) (3) NOTE
Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)
NE-20-150 522343.53 5473593.38 371.44 330 -50 636.00 141.40 141.90 0.50 0.32 48.70
310.50 335.60 25.10 19.23 1.87 RENARD ZONE
Including (3) 323.60 326.20 2.60 1.99 4.72
399.00 405.00 6.00 4.91 3.25
435.00 443.50 8.50 6.96 1.36
466.50 517.50 51.00 41.78 0.65
535.50 538.50 3.00 2.46 2.35
550.50 576.00 25.50 20.89 1.10
Including (3) 564.00 571.50 7.50 6.14 2.15
NE-20-151 522447.67 5473600.83 374.84 330 -49 630.00 337.00 340.00 3.00 2.12 4.12 RENARD ZONE
346.50 351.00 4.50 3.45 1.45
421.50 425.80 4.30 3.29 2.11
436.30 440.80 4.50 3.69 1.16
462.00 472.80 10.80 8.85 1.38
480.00 481.50 1.50 1.15 33.80
490.50 493.50 3.00 2.30 1.02
502.50 505.50 3.00 2.30 1.02
546.00 574.50 28.50 23.35 1.45
Including (3) 564.00 568.50 4.50 3.69 5.75
NE-20-152 522636.87 5473672.51 380.70 330 -50 585.00 43.50 54.00 10.50 8.60 1.33 ZONE 36 WEST
64.50 67.50 3.00 2.46 1.81
304.80 329.12 24.32 18.63 1.21 RENARD ZONE
337.50 364.50 27.00 24.47 2.86
Including (3) 343.50 346.50 3.00 2.72 13.28
386.00 417.70 31.70 25.97 1.08
Including (3) 406.20 407.70 1.50 1.23 12.90
450.70 458.20 7.50 5.75 1.00
464.20 470.20 6.00 4.60 1.32
477.70 500.20 22.50 17.24 0.57
515.20 521.20 6.00 4.60 0.84
NE-20-153 522595.84 5473540.06 375.85 330 -49 720.00 462.70 470.20 7.50 6.50 0.99 RENARD ZONE
492.00 498.00 6.00 4.91 1.01
513.00 514.50 1.50 1.23 4.46
537.00 547.50 10.50 9.09 1.22
589.50 616.50 27.00 22.12 1.04
Including (3) 594.00 595.50 1.50 1.23 6.25
623.70 663.30 39.60 32.44 0.83
NE-20-154 522798.25 5473593.53 378.89 330 -55 696.00 141.10 148.60 7.50 5.75 0.59 ZONE 36 WEST
178.00 183.85 5.85 4.14 0.53
454.00 459.50 5.50 4.51 0.97 RENARD ZONE
511.50 517.47 5.97 5.17 0.81
531.50 535.50 4.00 3.06 1.10
640.50 670.50 30.00 22.98 0.64
NE-20-155 521676.14 5473700.38 374.24 330 -45 450.00 259.50 270.00 10.50 8.60
10.53
(4.95 capped at
30g/t)
RENARD WEST ZONE
Including (3) 268.50 270.00 1.50 1.23 69.10
348.00 376.50 28.50 23.35 0.78
Including (3) 358.50 370.50 12.00 9.83 1.18
Table 1 Nelligan Project Drilling Results - 2020 Drilling program
UTM NAD83 Zone18
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Figure 1: Nelligan drill hole plan map and highlighted 2020 assay results.