Iamgold Reports Additional Drill Results at the Nelligan GOLD Project, Quebec
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD REPORTS ADDITIONAL DRILL RESULTS AT THE NELLIGAN GOLD PROJECT, QUEBEC
Toronto, Ontario, November 15, 2018 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today
provided a further update from its 2018 drilling program completed at its Nelligan joint venture project
(IAMGOLD: 51%, Vanstar Mining Resources Inc. (“Vanstar”): 49%), located 60 kilometres southwest of
Chibougamau, Quebec, Canada. The Company is reporting assay results from an additional 11 diamond
drill holes, totaling 4,404 metres. Results are pending from a remaining 9 drill holes, totaling 4,487 metres,
and will be reported once the results are received, validated and compiled.
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.)
36 West Zone:
Drill hole NE-18-81: 12.2 metres grading 3.93 g/t Au
includes: 0.8 metres grading 34.3 g/t Au
Drill hole NE-18-86: 24.2 metres grading 1.33 g/t Au
includes: 5.6 metres grading 3.51 g/t Au
Drill hole NE-18-89: 14.3 metres grading 2.26 g/t Au
includes: 4.4 metres grading 4.60 g/t Au
Renard Zone:
Drill hole NE-18-81: 23.5 metres grading 1.68 g/t Au
includes: 7.5 metres grading 3.70 g/t Au
and 37.5 metres grading 1.61 g/t Au
Drill hole NE-18-83: 14.5 metres grading 2.31 g/t Au
includes: 7.0 metres grading 4.10 g/t Au
and 31.5 metres grading 1.19 g/t Au
includes: 6.0 metres grading 3.22 g/t Au
Drill hole NE-18-84: 33.1 metres grading 1.26 g/t Au
and 82.6 metres grading 3.31 g/t Au
includes: 1.5 metres grading 20.9 g/t Au
includes: 1.5 metres grading 74.9 g/t Au
Drill hole NE-18-87: 37.4 metres grading 0.95 g/t Au
and 27.2 metres grading 3.48 g/t Au
includes: 7.5 metres grading 9.55 g/t Au
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The 2018 diamond drilling program was designed to evaluate the resource potential of the recently
discovered mineralization system, referred to as the Renard Zone, located immediately north of the
previously known Liam and Dan zones. The drilling continues to intersect wide zones of hydrothermal
alteration characterized by variable carbonatization, sericite, phlogopite and pervasive silicification
affecting the hosting meta-sedimentary sequence. Disseminated pyrite is associated with the alteration
zones and varies from 1% to locally 15%. Trace molybdenite and occasionally fine grains of visible gold
are observed.
Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: “ The 2018 drilling program
continues to deliver positive results, and as previously reported, continues to intersect wide zones of
alteration and associated mineralization. These results are being incorporated to develop a preliminary
deposit model and guide future drilling campaigns to support the completion of an initial resource
estimate.”
Next Steps
The results from the remaining 9 diamond drill holes, totaling 4,487 metres will be reported once they
are received, validated and compiled. These results, coupled with ongoing geochemical and
structural studies will continue to support the development and refinement of a geological and
deposit model. The objective of the 2018 drilling program is to evaluate the resource potential of the
project with the aim of declaring an initial NI 43-101 compliant resource estimate in 2019.
About the Nelligan Project
The Nelligan project is underlain by a portion of the Caopatina segment belonging to the North Volcanic
Zone of the Abitibi Belt of the Superior Province. The property is centered on the E -W Druillette synclinal
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 can be grouped according to their style of mineralization: Quartz -sulphide vein
type mineralization and disseminated pyrite mineralization. On the local scale, the Nelligan project contains
several interesting gold showings, including the Liam and Dan Zones discovered by drilling in 2013 and
2014, and the historical Lake Eu showing. Significant alteration and associated gold mineralization was
intersected over wide intervals to the north of the known gold showings over a strike length of more than
1.0 kilometre, to a depth of over 300 vertical metres (Zones 36 and Renard). These prospective showings
appear to fall within a structural corridor with a potential strike length of several kilometres associated to
the Guercheville Deformed Corridor located 5 kilometres north of the property.
The Nelligan Project is held under an earn-in option to joint venture agreement with Vanstar. The
Company holds an undivided 51% interest in the property, and holds an option to earn a further 24%
undivided interest in exchange for cash payments totaling C$2,750,000 to Vanstar and the delivery of an
NI 43-101 compliant Resource Estimate Technical Report before March 2022. Once vested to an
undivided 75% interest, IAMGOLD will have 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 sampling of, and assay data from, the drill core is monitored through the implementation of a quality
assurance - quality control (QA-QC) program designed to follow industry best practice. Drill core (NQ size)
samples are selected by the IAMGOLD geologists and sawn in half with a diamond s aw 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.
Samples are 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 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 certified reference standards in the
sample sequence for quality control.
Forward Looking Statement
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 (including, without limitation, statements regarding expected, estimated or planned gold
production, cash costs, margin expansion, capital expenditures and exploration expenditures and
statements regarding the estimation of mineral resources, exploration results, potential minera lization,
potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking
statements are generally identifiable by use of the words “will”, “should”, “continue”, “expect”, “anticipate”,
“estimate”, “believe”, “intend”, “to earn”, “to have’, “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 abilit y 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, cash costs, margin expansion, capital expenditures and exploration expenditures and failure to
establish estimated mineral resources, 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 Exchang e
Commission and Canadian provincial 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.
About IAMGOLD
IAMGOLD ( www.iamgold.com) is a mid -tier mining company with four operating gold mines on three
continents. A solid base of strategic assets in North and South America and West Africa is complemented
by development and exploration projects and continued assessment of accretive acquisition opportunities.
IAMGOLD is in a strong financial position with extensive management and operational expertise.
page 4 of 7
For further information please contact:
Ken Chernin, VP Investor Relations, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (416) 388-6883
Laura Young, Director, Investor Relations, IAMGOLD Corporation
Tel: (416) 933-4952 Mobile: (416) 670-3815
Martin Dumont, Senior Analyst Investor Relations, IAMGOLD Corporation
Tel: (416) 933-5783 Mobile: (647) 967-9942
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.
page 5 of 7
Table 1
Hole No. AZ DIP EOH from To Interval True
Width (1) Au (2) NOTE
Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)
NE-18-80 522,996.9 5,473,929.8 378.1 334 -45 327.00 111.00 123.50 12.50 10.83 0.85 RENARD ZONE
182.10 201.70 19.60 18.42 0.84
Including
(3) 189.10 193.90 4.80 4.51 1.26
211.80 220.50 8.70 7.53 0.96
228.45 250.95 22.50 19.49 0.66
NE-18-81 522,995.5 5,473,768.6 375.4 330 -50 414.00 61.20 73.40 12.20 9.35 3.93 36 West ZONE
Including
(3) 62.60 63.40 0.80 0.61 34.30
174.00 175.50 1.50 1.15 23.40 RENARD ZONE
227.40 235.30 7.90 6.47 0.72
257.91 281.40 23.49 16.61 1.68
Including
(3) 257.91 265.40 7.49 5.30 3.70
290.40 313.20 22.80 18.68 0.92
322.20 359.70 37.50 30.72 1.61
Including
(3) 349.20 359.70 10.50 8.60 2.77
374.70 379.20 4.50 3.69 1.41
NE-18-82 522,868.8 5,473,935.3 380.3 330.00 -50.00 267.00 54.00 76.50 22.50 17.24 0.70 RENARD ZONE
95.00 100.89 5.89 5.10 1.87
115.60 127.76 12.16 11.75 0.90
Including
(3) 121.00 124.00 3.00 2.90 2.22
156.00 178.56 22.56 19.54 0.92
Including
(3) 156.67 163.50 6.83 4.39 1.45
Including
(3) 175.50 178.56 3.06 2.88 1.67
214.50 231.00 16.50 12.64 1.48
241.50 261.00 19.50 14.94 0.49
NE-18-83 522,779.6 5,473,847.9 381.5 332 -50 327.00 77.60 85.50 7.90 6.05 0.82 RENARD ZONE
133.50 140.20 6.70 4.74 0.92
162.50 177.00 14.50 13.14 2.31
Including
(3) 168.50 175.50 7.00 5.36 4.10
189.00 208.50 19.50 17.67 0.83
231.00 247.50 16.50 14.95 0.61
255.00 286.50 31.50 27.28 1.19
Including
(3) 274.50 280.50 6.00 5.20 3.22
NE-18-84 522,975.1 5,473,842.0 376.8 325 -45 348.00 121.50 154.60 33.10 25.36 1.26 RENARD ZONE
164.90 175.40 10.50 9.09 1.14
182.90 265.50 82.60 71.53 3.31
Including
(3) 182.90 184.40 1.50 1.30 20.90
Including
(3) 205.40 206.90 1.50 1.30 74.90
303.00 327.00 24.00 18.39 0.95
NE-18-85 522,828.4 5,473,756.4 379.2 332 -50 381.00 77.00 81.50 4.50 2.89 2.82 36 West ZONE
Including
(3) 78.50 80.00 1.50 0.96 6.29
96.80 105.92 9.12 5.86 0.98
138.20 153.20 15.00 9.64 0.51
249.60 260.50 10.90 8.93 0.63 RENARD ZONE
274.60 333.80 59.20 48.49 0.83
Including
(3) 305.30 327.80 22.50 18.43 1.21
369.80 381.00 11.20 9.17 1.33
NE-18-86 522,901.2 5,473,773.7 378.6 332 -47 411.00 129.80 154.00 24.20 18.54 1.33 36 West ZONE
Including
(3) 138.00 143.62 5.62 4.31 3.51
161.90 176.50 14.60 9.38 0.62
243.00 321.40 78.40 67.90 0.98 RENARD ZONE
Including
(3) 296.50 321.40 24.90 19.07 1.40
355.95 361.00 5.05 3.87 2.83
366.00 379.50 13.50 10.34 1.69
Table 1 Nelligan Project Drilling Results - 2018 Drilling program
UTM NAD83 Zone18
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Notes:
1. True widths are estimated at 70 to 94% 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 are reported uncut but high grade sub-intervals are highlighted.
Hole No. AZ DIP EOH from To Interval True
Width (1) Au (2) NOTE
Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)
NE-18-87 522,853.2 5,473,654.3 378.5 330 -52 543.00 53.76 70.50 16.74 15.17 1.63 36 West ZONE
Including
(3) 55.00 56.00 1.00 0.97 13.05
102.00 112.50 10.50 9.52 1.52
138.30 147.30 9.00 8.16 0.67
165.15 202.50 37.35 33.85 0.95 RENARD ZONE
Including
(3) 165.15 182.00 16.85 15.27 1.20
367.50 375.00 7.50 6.80 1.55
Including
(3) 372.00 375.00 3.00 2.72 2.83
389.65 416.80 27.15 22.24 3.48
Including
(3) 391.04 398.50 7.46 6.11 9.55
452.60 453.30 0.70 0.57 22.00
457.80 465.30 7.50 5.75 4.58
Including
(3) 460.80 462.30 1.50 1.15 16.95
490.50 496.50 6.00 4.60 1.30
NE-18-88 522,637.5 5,473,805.2 379.7 335 -45 456.00 71.00 86.00 15.00 11.49 0.53 RENARD ZONE
130.00 143.50 13.50 9.55 1.65
Including
(3) 141.50 142.10 0.60 0.42 21.15
158.00 185.00 27.00 24.47 1.04
204.00 232.00 28.00 24.25 1.35
Including
(3) 223.50 232.00 8.50 7.70 2.28
NE-18-89 522,699.1 5,473,713.5 379.9 335 -45 471.00 38.80 53.10 14.30 11.71 2.26 36 West ZONE
Including
(3) 43.17 47.60 4.43 3.63 4.60
71.10 81.30 10.20 7.81 1.31
260.40 285.50 25.10 19.23 0.94 RENARD ZONE
292.54 295.08 2.54 2.20 16.12
Including
(3) 292.54 293.75 1.21 1.05 32.00
301.00 316.80 15.80 14.32 1.69
339.20 351.20 12.00 10.39 1.12
367.70 381.20 13.50 11.69 1.27
396.20 412.70 16.50 14.95 0.60
429.20 438.20 9.00 8.16 0.98
NE-18-92 522,500.8 5,473,656.7 373.8 326 -58 459.00 357.17 367.15 9.98 4.99 0.85 RENARD ZONE
382.50 385.50 3.00 1.93 2.36
424.50 430.50 6.00 3.86 2.02
Including
(3) 429.00 430.50 1.50 0.96 5.85
450.00 459.00 9.00 5.79 1.27
Table 1 Nelligan Project Drilling Results - 2018 Drilling program
UTM NAD83 Zone18
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Figure 1: Nelligan drill hole plan map and highlighted 2018 assay results.