Iamgold Reports Assay Results from the Astoria Area Drilling Program ON the Rouyn GOLD Project, Quebec; Drilling Resumes ON LAC Gamble Area
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD REPORTS ASSAY RESULTS FROM THE ASTORIA AREA DRILLING
PROGRAM ON THE ROUYN GOLD PROJECT, QUEBEC;
DRILLING RESUMES ON LAC GAMBLE AREA
Toronto, Ontario, March 3, 2021 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) announces
assay results from its 2020 exploration diamond drilling program completed on the Astoria Target Area at
the Rouyn Gold Project (the “Rouyn Project”) optioned from Yorbeau Resources Inc. (“Yorbeau”). The
Rouyn Project is located 4 km south of Rouyn-Noranda, Québec, and approximately 45 kilometers
southwest of IAMGOLD’s Westwood operation.
The Company is reporting assay results from eleven (11) diamond drill holes, totaling 5,950 metres drilled
on the Astoria area, located approximately one kilometre east of the Lac Gamble Zone. Two (2) drill holes
were abandoned or did not reach the target zone due to excessive deviation.
The assay results reported herein are provided in Table 1, below, and include the following highlights (a
longitudinal section illustrating the drilling program on the Astoria Area is attached to this news release ):
Astoria Area – Upper Piché Zone:
Drill hole AS-20-773A: 2.0 metres grading 13.2 g/t Au
Drill hole AS-20-775: 2.8 metres grading 7.5 g/t Au
includes: 0.8 metres grading 15.0 g/t Au
Drill hole AS-20-775W: 7.6 metres grading 9.7 g/t Au
includes: 2.0 metres grading 29.3 g/t Au
Astoria Area – Lower Piché Zone:
Drill hole AS-17-669W: 2.0 metres grading 7.6 g/t Au
Drill hole AS-20-772: 11.1 metres grading 3.7 g/t Au
includes: 1.0 metres grading 23.5 g/t Au
Astoria Area – Main Zone:
Drill hole AS-20-772: 6.1 metres grading 3.4 g/t Au
includes: 3.0 metres grading 6.2 g/t Au
Drill hole AS-20-776: 14.0 metres grading 3.4 g/t Au
includes: 7.0 metres grading 5.6 g/t Au
Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated: “The completion of this
program has provided important information to assess the potential of the historic Astoria deposit. The
program was conducted in accordance with well-established Company-wide health and safety protocols to
manage the impacts of the COVID-19 pandemic. These results will be used to update our geological
models and help guide our exploration program to continue to assess the resource potential for this area.
Drilling has now resumed at Lac Gamble and will include the completion of selected infill holes, as well as
geotechnical drill holes to assess rock quality of the host rock units.”
The objective of the Astoria area diamond drilling program was to test selected priority targets proximal to
the known mineralization to evaluate for the presence and continuity of mineralized extensions with
potential to outline a resource.
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The program successfully intersected the targeted sheared Cadillac-Piché corridor, which hosts several
mineralized zones. At Astoria, mineralized zones are associated with alteration varying from several
metres to greater than ten metres in width, hosted in the ultramafic rocks of the Piché Group, exhibiting
variable carbonatization, fuchsite, silicification, crosscut by a network of white quartz a nd brown tourmaline
stockwork veins and breccias, which define the Upper and Lower Piché zones. Gold mineralization occurs
as small specks of visible free gold associated with minor sulphides in quartz-tourmaline veinlets.
A mineralized zone, referred to as the Main zone, is also observed at the contact with the sedimentary
sequence bordering the south contact of the Piché Group and is characterized by grey quartz veinlets
containing rare visible gold and up to 10% disseminated to narrow massive bands of A rsenopyrite adjacent
to the veins. Occasionally similar mineralization is also observed exclusively hosted in sediments and is
referred to as the Footwall zone.
Next Steps
The ongoing global COVID-19 pandemic and local availability of drill rigs continues to impact the pace at
which planned exploration activities are advanced. However, exploration drilling has resumed at the Rouyn
Project and a 14,000 metre diamond drilling program is planned in 2021 to further delineate the Lac
Gamble and Astoria zones. The program will also include the evaluation of the resource potential of other
selected targets, including in the Cinderella and Augmitto areas located further west of the Lac Gamble
zone. Currently, a geotechnical drilling program has commenced to assess rock quality of the host rock
units at Lac Gamble.
The assay results from the drilling programs will be integrated with the existing geological, geochemical
and structural information to support the development and refinement of preliminary deposit models on the
property to support a future potential maiden resource estimate.
About the Rouyn Gold Project
The Rouyn Gold Property is located about 4 km south of Rouyn-Noranda, Quebec. With a long history of
mining, the city of Rouyn-Noranda offers many advantages for mining and exploration, including political
and social stability, good access and infrastructure, skilled mining personnel, and one of the most mining -
friendly jurisdictions in the world.
The property covers a 12-kilometre stretch of the Cadillac-Larder Lake Break and contains four known gold
deposits along the 6-km Augmitto-Astoria corridor situated on the western portion of the property. Two of
the four deposits, Astoria in the east portion of the 6 km segment and Augmitto in the west portion of the
segment, benefit from established underground infrastructure and have been the subject of technical
reports that include resource estimates that were previously filed in accordance with R egulation NI 43-101.
The Lac Gamble zone is located between the Augmito and the Astoria deposits. The exploration target
potential at Lac Gamble is interpreted to be between 400,000 and 600,000 ounces of gold at a grade
between 7.0 and 8.5 g/t Au. The potential quantity and grade of the exploration targets referred to are
conceptual in nature and insufficient exploration work has been completed to define a mineral resource.
The property may require significant future exploration to advance to a resource sta ge and there can be no
certainty that the exploration target will result in a mineral resource being delineated. The exploration
targets are consistent with similar deposits in the area, deposit models or derived from initial drilling
results.
IAMGOLD signed a definitive option agreement in December 2018, whereby IAMGOLD has the option to
acquire a 100% interest in the Project by making scheduled cash payments totaling C$4 million and
completing exploration expenditures totaling C$9 million over a four year period. By the end of the
expenditure period, the Company is required to complete a NI 43-101 compliant resource estimate, after
which the Company, at its election, can purchase a 100% interest in the Project, subject to a 2% net
smelter return production royalty, by paying Yorbeau the lesser of C$15 per resource ounce or C$30
million. IAMGOLD is currently in the third year of the option agreement.
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Figure 1 – Rouyn Gold – Lac Gamble zone longitudinal section and highlighted 2020 assay results
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Hole No. AZ DIP Depth /
length from To Interval True
Width (1) Au (2) (3) NOTE
Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)
AS-17-669W (4)
646,229 5,340,055 2,949 170 -85 342.10 560.00 565.50 5.50 3.99 3.33 Upper Piché Zone
Including (3) 563.00 565.50 2.50 1.81 5.25
592.00 594.00 2.00 1.47 7.63 Lower Piché Zone
600.40 605.00 4.60 3.38 0.87
630.65 631.65 1.00 0.75 3.96 Main Zone
635.00 636.00 1.00 0.75 2.81
676.00 677.20 1.20 0.91 1.77 Footwall Zone
AS-19-741W (4)
645,961 5,340,003 2,986 182 -78 303.00 551.00 558.00 7.00 5.44 1.24 Lower Piché Zone
612.00 614.00 2.00 1.61 2.99 Footwall Zone
AS-20-771 646,019 5,340,144 3,295 215 -68 642.00
AS-20-772 646,019 5,340,143 3,295 200 -66 651.00 522.00 524.00 2.00 1.55 1.24 Upper Piché Zone
541.50 543.00 1.50 1.17 4.60 Lower Piché Zone
545.90 557.00 11.10 8.66 3.69
Including (3) 547.00 548.00 1.00 0.78 23.50
580.90 587.00 6.10 4.81 3.37 Main Zone
Including (3) 583.20 586.20 3.00 2.37 6.16
AS-20-773 645,964 5,340,059 3,305 197 -86 19.30
AS-20-773A 645,963 5,340,059 3,305 197 -86 846.00 666.50 668.50 2.00 0.97 13.20 Upper Piché Zone
672.50 677.00 4.50 2.18 1.11
705.00 706.50 1.50 0.73 1.71
752.00 753.00 1.00 0.49 2.10 Lower Piché Zone
767.30 769.30 2.00 0.99 2.55
781.00 782.00 1.00 0.50 6.33 Main Zone
821.30 822.30 1.00 0.51 3.60 Footwall Zone
AS-20-773AW (4)
645,957 5,340,025 2,911 184 -84 402.00 647.75 656.00 8.25 4.87 2.71 Upper Piché Zone
Including (3) 649.00 652.00 3.00 1.77 4.41
658.50 670.50 12.00 7.08 1.19
701.60 717.10 15.50 9.15 1.93 Lower Piché Zone
Including (3) 713.00 717.10 4.10 2.46 4.50
729.40 734.00 4.60 2.79 1.39 Main Zone
Including (3) 729.40 730.40 1.00 0.61 3.60
AS-20-774 646,216 5,340,162 3,306 180 -80 789.00 569.00 570.00 1.00 0.76 6.70 Upper Piché Zone
587.00 591.50 4.50 3.46 0.84 Lower Piché Zone
594.00 598.00 4.00 3.09 1.45
611.25 612.65 1.40 1.09 1.42 Main Zone
AS-20-775 646,043 5,340,124 3,295 185 -86 837.00 651.00 653.75 2.75 1.74 7.54 Upper Piché Zone
Including (3) 652.00 652.80 0.80 0.51 15.00
714.60 718.00 3.40 2.21 2.13 Lower Piché Zone
737.00 739.50 2.50 1.68 2.79 Main Zone
743.25 744.75 1.50 1.02 1.42
816.00 826.10 10.10 7.35 0.96 Footwall Zone
Including (3) 824.00 826.10 2.10 1.53 2.09
AS-20-775W (4)
646,052 5,340,068 2,849 164 -75 378.00 638.00 645.55 7.55 5.62 9.71 Upper Piché Zone
Including (3) 638.90 640.90 2.00 1.49 29.25
702.00 704.00 2.00 1.54 2.86 Lower Piché Zone
771.00 772.70 1.70 1.37 2.82 Footwall Zone
AS-20-776 645,964 5,340,059 3,306 210 -80 741.00 579.00 581.00 2.00 1.09 1.76 Upper Piché Zone
611.75 612.75 1.00 0.54 2.50 Lower Piché Zone
624.00 625.50 1.50 0.81 4.80
640.00 648.00 8.00 4.31 1.44
Including (3) 647.00 648.00 1.00 0.54 6.36
666.00 680.00 14.00 7.72 3.38 Main Zone
Including (3) 668.00 675.00 7.00 3.86 5.57
Table 1 : Rouyn Project Drilling Results - 2020 Astoria Drilling program
UTM NAD83 Zone 17
No significant results - Did not reach the targeted Zone due to
excessive deviation
Abandonned due to excessive drill hole deviation
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Notes:
1. True widths of intersections are estimated at at 55 to 80% of the core interval approximately.
2. Drill hole intercepts are calculated with a lower cut of 1.0 g/t Au and may contain lower grade interval of up to 3 metres in
length. They are generally reported with a minimum g*m (or Metal factor) of 2.
3. Assays are reported uncut but high grade sub-intervals are highlighted.
4. Drill holes with the suffix W are wedge cuts from previously drilled master holes.
Technical Information and Quality Control Notes
The drilling results contained in this news release have been prepared in accordance with National
Instrument 43-101 (“NI 43-101”) Standards of Disclosure for Mineral Projects.
The Qualified Person (“QP”) 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
QP for the purposes of NI 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 QP. The QP
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 contro l of IAMGOLD’s and
Yorbeau’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 geologists and then 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 AGAT laboratories in Val d’Or,
Quebec, and Mississauga, Ontario. Samples are coarse crushed to a -10 mesh and then a 1,000 gram
split is pulverized to 95% passing -150 mesh. AGAT prepare analytical pulps at their facilities located in
Val-d’Or and processed the pulps at their Mississauga laboratory which is ISO / IEC 17025:2005 ce rtified
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 3.0 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 processed with a protocol
involving fine grinding of the entire sample, followed by metallic screen analysis of the ent ire pulverized
material. Insertion of duplicate, blanks and certified reference standards in the sample sequence is done in
all drill holes 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, but not limited to, the use of the words “may”, “will”,
“should”, “continue”, “expect”, “budget”, “forecast”, “anticipate”, “estimate”, “believe”, “prospective”, “significant”, “potential”,
“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 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, the failure to accurately estimate mineral
resources or mineral reserves, differences in the mineral content within the material identified as mineral resources or mineral
reserves from that predicted, unexpected increases in all-in sustaining costs or other costs, 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 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, 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.
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About IAMGOLD
IAMGOLD is a mid-tier mining company with three gold mines on three continents, including the Essakane
mine in Burkina Faso, the Rosebel mine in Suriname, and the Westwood mine 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 West Africa and the Americas. IAMGOLD aims to become a million-ounce gold producer
as it executes on its growth strategy, including bringing Côté Gold, its fourth mine, online.
IAMGOLD is committed to maintaining its culture of accountable mining through high standards of
Environmental, Social and Governance ("ESG") practices and employs approximately 5,000 people.
IAMGOLD’s commitment is to Zero Harm ®, in every aspect of its business. IAMGOLD is one of the
companies on the JSI index.
IAMGOLD is listed on the Toronto Stock Exc hange (trading symbol “IMG”) and the New York Stock
Exchange (trading symbol “IAG”).
For further information please contact:
Indi Gopinathan, VP, Investor Relations & Corporate Communications, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (416) 388-6883
Philip Rabenok, 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.