Iamgold Reports Final Assay Results from the Recently Completed Delineation Drilling Program ON the Saramacca Project, Suriname
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD REPORTS FINAL ASSAY RESULTS FROM THE RECENTLY COMPLETED DELINEATION
DRILLING PROGRAM ON THE SARAMACCA PROJECT, SURINAME
Toronto, Ontario, June 16, 2017 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today
provided the remaining assay results from its 2017 infill drilling program at the Saramacca project, located
25 kilometres southwest of its Rosebel Gold Mine (“RGM”) in Suriname. Assay results have now been
received from the entire 2017 delineation drill program consisting of 113 drill holes totaling 19,689 metres,
including 35 drill holes totaling 5,523 metres reported herein. With the receipt of all assays, the geology
and deposit models are being updated in support of an initial National Instrument 43-101 resource
estimate expected for completion by the third quarter 2017.
The drill hole assay intersections are provided in Table 1 and include the following highlights:
(A drill hole plan map is attached to this news release.)
SMDD17-154: 6.5 metres grading 10.45 g/t Au
SMDD17-159: 10.0 metres grading 7.62 g/t Au
SMDD17-166: 34.5 metres grading 2.23 g/t Au
SMDD17-168: 41.0 metres grading 5.56 g/t Au
Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: “With the receipt of the final
assay results from the recently completed infill drilling program, we are now focused on updating the
geology and resource models to support an initial resource estimate anticipated for completion in the third
quarter. It is important to note that we believe significant exploration upside remains with potential to
expand existing and discover additional resources with further exploration. Once again, I congratulate the
exploration team for the well-executed and safely-completed drilling program as we advance the project
towards the next important milestone.”
Added IAMGOLD’s President and CEO Steve Letwin, “Our exploration team has done an outstanding job
to complete the drilling program as quickly as they have, with a maiden resource estimate only a few
months away.”
2017 Exploration Program
The 2017 50 x 50 metre infill drilling program has confirmed the presence of multiple mineralized
structures within an approximately 2-kilometre long and 600-metre wide corridor. Mineralization occurs in
the near surface oxidized weathering profile to depths ranging from 50 to 100 metres, as well as deeper in
the primary sulphide zones. Mineralization remains open along strike and at depth and will be tested in
future drilling programs. In the deposit area, three mineralization styles are recognized from the drilling
completed to date: breccia hosted mineralization characterized by jigsa w, crackle and matrix supported
breccias; shear hosted mineralization characterized by well-developed pyritic disseminations and stringers;
and irregular pyrite-quartz-carbonate veins which locally carry high gold grades.
Preliminary engineering and permitting studies are underway to support and develop future exploitation
scenarios.
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About the Saramacca Project
The Saramacca project is strategically located approximately 25 kilometres southwest of the Rosebel Gold
Mine milling facility. Mineralization is hosted in the Paramaka Formation within the lower part of the
Marowijne Greenstone Belt, which is dominated by metamorphosed dacite, rhyolite, basalt and andesite
lithologies in the project area. These are traversed by the regional, northwest trending Saramacca shear
zone, an important deformation zone for the localization of gold mineralization.
The Saramacca property has been explored since the 1990’s principally by Golden Star Resources Ltd.
(“Golden Star”) and later as a joint venture between Golden Star and Newmont Mining Corporation. Much
of that work focused on the discovery and delineation of Anomaly M, which was the subject of successive
auger and diamond drilling programs with over 50 diamond drill holes and over 200 auger holes completed
in the anomaly area. Evaluation of this work suggests an exploration target potential of between 8 and 40
million tonnes grading between 1.0 and 1.8 g/t Au for potentially 0.5 to 1.4 million contained ounces of
gold. The potential quantity and grade are conceptual in nature and insufficient exploration work has been
completed to date to define a mineral resource. The property will require significant future exploration to
advance to a resource stage and there can be no certainty that the exploration target will result in a
mineral resource being defined.
On August 30, 2016, the Company signed a letter of intent with the Government of Suriname to acquire
rights to the Saramacca property, with the intent of defining a National Instrument 43-101 mineral resource
within 24 months. The terms of the letter included an initial payment of $0.2 million, which enabled
immediate access to the property for Rosebel’s exploration team to conduct due d iligence, as well as
access to the data from previous exploration activity at the Saramacca property. On September 30, 2016,
having been satisfied with the results of the due diligence, the Company ratified the letter of intent to
acquire the Saramacca property and subsequently paid $10 million in cash and agreed to issue 3.125
million IAMGOLD common shares to the Government of Suriname in three approximately equal annual
instalments on each successive anniversary of the date the right of exploration was transferred to Rosebel
(December 14, 2016). In addition, the agreement provides for a potential upward adjustment to the
purchase price based on the contained gold ounces identified by Rosebel in National Instrument 43-101
measured and indicated resource categories, within a certain Whittle shell within the first 24 months, to a
maximum of $10 million.
The Saramacca project falls within the “UJV” area as defined in an Agreement with the Government of
Suriname announced on April 15, 2013. The Agreement establishes a joint venture growth vehicle under
which Rosebel would hold a 70% participating interest and the Government will acquire a 30%
participating interest on a fully-paid basis.
Qualified Persons and Technical Information
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").
The "Qualified Person" responsible for the supervision of the preparation , verification and review of the
technical information in this release is Ian Stockton, MAusIMM, FAIG, RP. Geo., Exploration Manager for
IAMGOLD in Suriname. He 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 information in this news release was reviewed and approved by Craig MacDougall, P.Geo., Senior
Vice President, Exploration for IAMGOLD. Mr. MacDougall is a Qualified Person as defined by National
Instrument 43-101.
The sampling of, and assay data from, drill core is monitored through the implementation of a quality
assurance - quality control (QA-QC) program designed to follow industry best practice. Drill core (HQ and
NQ size) samples are selected by the IAMGOLD geologists and sawn in half with a diamond saw at the
Rosebel mine 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.
page 3 of 6
Samples are transported in sealed bags to FILAB in Paramaribo, Suriname, a representative lab of ALS.
FILAB is an ISO 9001 (2008) and ISO/IEC 170250 accredited laboratory. Samples are weighed and
coarse crushed to <2.5 mm, and 350-450 grams is pulverized to 85% passing <100 μm. Samples are
analyzed for gold using standard fire assay technique with a 50 gram charge and an Atomic Absorption
(AA) finish. IAMGOLD inserts blanks and certified reference standard in the sample sequence for quality
control. Samples representative of the various lithologies are collected from each drill hole and measured
for bulk density at the site RGM laboratory.
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 mineralization,
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”, “estimate”,
“believe”, “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, 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 Exchange 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 acq uisition opportunities.
IAMGOLD is in a strong financial position with extensive management and operational expertise.
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
Shae Frosst, Investor Relations Associate, IAMGOLD Corporation
Tel: (416) 933-4738 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.i amgold.com and through CNW Group’s
website at www.newswire.ca. 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
http://www.iamgold.com/French/accueil/default.aspx.
page 4 of 6
Table 1: Diamond Drill Hole Assay Results
HOLE-ID
Local UTM grid End of
hole (m)
Azimuth
(°)
Dip
(°)
From
(m) To (m) interval
(m)
True Width
(m)3 Au (g/t)
Au (g/t)
(capped at 30
g/t Au)2 Easting Northing Elevation
SMDD17-143 32196 64216 750 161 215 -47 0 12 12 6 0.77 0.77
67.5 73.5 6 3 0.7 0.7
79 87 8 4 4.29 4.29
140 150 10 5 5.46 5.46
SMDD17-147 31928 64618 691 309 215 -50 0 6 6 2 0.43 0.43
SMDD17-148 32604 63582 897 204 215 -50 1.5 9.7 8.2 3 0.84 0.84
153 161.5 8.5 4 1.49 1.49
SMDD17-149 32785 63318 907 156.5 215 -50 0 13.2 13.2 5 0.75 0.75
60 69 9 4 2.41 2.41
75 82.5 7.5 3 0.68 0.68
103.5 112 8.5 4 1.69 1.69
127 133 6 3 9.63 9.63
151.5 156.5 5 2 3.5 3.5
SMDD17-150 31825 64643 686 183 215 -50 No significant results
SMDD17-151 32532 63568 888 126 215 -50 11 27.85 16.85 7 3.35 3.35
SMDD17-152 32641 63463 897 105 215 -50 0 9 9 4 2.27 2.27
SMDD17-153 31945 64382 745 127.5 215 -50 45 58.5 13.5 6 3.06 3.06
71 76.5 5.5 2 2.78 2.78
SMDD17-154 32204 63884 867 315 35 -50 91 97.5 6.5 4 10.45 10.45
184.5 196.5 12 8 0.48 0.48
238.5 244.5 6 4 2.93 2.93
SMDD17-155 32751 63272 914 120.5 215 -50 No significant results
SMDD17-156 31905 64157 781 336 35 -50 175 185.3 10.3 7 3.45 3.45
191.5 201.8 10.3 7 7.99 7.99
230 259.5 29.5 21 1.02 1.02
SMDD17-157 32680 63515 888 211.5 215 -50 0 5 5 2 0.94 0.94
SMDD17-158 32318 63869 864 94.5 215 -50 No significant results
SMDD17-159 32564 63613 894 180 215 -50 0 10 10 4 7.62 7.62
57 74.2 17.2 7 1.31 1.31
SMDD17-160 32283 63910 860 105 215 -50 No significant results
SMDD17-161 32174 64013 836 64 215 -50 No significant results
SMDD17-162 32379 63870 851 192 215 -50 No significant results
SMDD17-163 32142 64055 833 70.5 215 -50 No significant results
SMDD17-164 32096 64077 828 40.5 215 -50 No significant results
SMDD17-165 32469 63563 868 133.5 35 -50 No significant results
SMDD17-166 32189 63949 845 203 35 -50 166.5 201 34.5 25 2.23 2.23
page 5 of 6
HOLE-ID
Local UTM grid End of
hole (m)
Azimuth
(°)
Dip
(°)
From
(m) To (m) interval (m)
True
Width
(m)3
Au (g/t)
Au (g/t)
(capped at 30
g/t Au)2 Easting Northing Elevation
SMDD17-167 32700 63112 911 250 35 -50 142.5 154 11.5 8 2.16 2.16
180.5 223 42.5 30 1.03 1.03
SMDD17-168 32304 63937 847 142.5 215 -50 9 19.5 10.5 4 2.88 2.88
75 116 41 17 5.56 4.06
SMDD17-169 32840 63138 901 175.5 35 -50 40.5 54 13.5 9 1.67 1.67
SMDD17-170 32030 64156 801 93 215 -50 52 57 5 2 0.3 0.3
SMDD17-171 32072 64129 804 76.5 215 -50 2 15 13 6 3.33 3.33
49.5 58.5 9 4 3.21 3.21
SMDD17-172 32802 62902 877 246 35 -50 No significant results
SMDD17-173 32799 63166 914 97.9 215 -50 No significant results
SMDD17-174 32265 63967 832 100 215 -50 2.5 7.5 5 2 0.59 0.59
SMDD17-175 32800 62993 856 124 35 -50 No significant results
SMDD17-176 32266 63967 832 107 215 -50 79.5 87 7.5 3 2.41 2.41
SMDD17-177 32760 62948 871 273 35 -50 No significant results
SMDD17-178 32843 62968 846 150 35 -50 No significant results
SMDD17-179 32469 63821 864 157 215 -50 No significant results
SMDD17-180 32867 63003 847 93 35 -50 No significant results
Notes:
1. Drill hole intercepts are calculated using a 0.50 g/t Au assay cut-off and 5m minimum length
2. During compositing, assays greater than 30 g/t Au are capped at 30 g/t Au
3. True widths are estimated from intersected geometries
page 6 of 6
Figure 1: Saramacca drill hole plan map and highlighted recent 2017 assay results.
SMDD17-178
SMDD17-150
SMDD17-147
SMDD17-153
SMDD17-143
SMDD17-156
SMDD17-170
SMDD17-171
SMDD17-176SMDD17-174
SMDD17-163
SMDD17-161
SMDD17-166
SMDD17-168
SMDD17-162
SMDD17-179
SMDD17-158
SMDD17-154
SMDD17-165
SMDD17-177
SMDD17-172
SMDD17-157
SMDD17-159
SMDD17-148
SMDD17-149
SMDD17-167
SMDD17-175SMDD17-180
SMDD17-160
SMDD17-151
SMDD17-164
SMDD17-152
SMDD17-155
SMDD17-173-200 0 200
Scale 1:6000
32000 X 33000 X
63000 Y
64000 Y
SMDD17-154
6.5m grading 10.45g/t Au
SMDD17-166
34.5m grading 2.23g/t Au
SMDD17-167
42.5m grading 1.03g/t Au
SMDD17-168
41m grading 5.56g/t Au
SMDD17-159
10.0m grading 7.62g/t Au
SMDD17-143
10.0m grading 5.46g/t Au
SMDD17-149
6.0m grading 9.63g/t Au
SMDD17-153
13.5m grading 3.06g/t Au
SMDD17-171
13.0m grading 3.33g/t Au