Iamgold Reports Further Positive Results from Its 2018 Drilling Program at the Nelligan GOLD Project, Quebec
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD REPORTS FURTHER POSITIVE RESULTS FROM ITS 2018 DRILLING PROGRAM AT THE
NELLIGAN GOLD PROJECT, QUEBEC
Toronto, Ontario, January 10, 2019 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today
provided a further update from its 2018 drilling program completed at its Nelligan joint venture project
(IAMGOLD Corporation: 51%, Vanstar Mining Resources Inc. (“Vanstar”): 49%), located 60 kilometres
southwest of Chibougamau, Quebec, Canada. The Company is reporting assay results from the remaining
nine (9) diamond drill holes totaling 4,487 metres completed as part of the 2018 drilling program.
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-18-91: 22.0 metres grading 1.43 g/t Au
and 32.9 metres grading 1.28 g/t Au
and 57.5 metres grading 1.87 g/t Au
includes: 12.7 metres grading 3.98 g/t Au
includes: 0.5 metres grading 33.2 g/t Au
Drill hole NE-18-95: 42.1 metres grading 3.59 g/t Au
includes: 1.4 metres grading 14.25 g/t Au
includes: 3.0 metres grading 12.8 g/t Au
Drill hole NE-18-96: 27.8 metres grading 5.69 g/t Au
includes: 6.8 metres grading 19.9 g/t Au
includes: 1.5 metres grading 79.4 g/t Au
and 17.8 metres grading 1.66 g/t Au
includes: 0.95 metres grading 12.6 g/t Au
Drill hole NE-18-99: 16.1 metres grading 2.42 g/t Au
includes: 1.3 metres grading 14.8 g/t Au
and 40.4 metres grading 2.35 g/t Au
includes: 1.0 metres grading 50.6 g/t Au
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 program continued 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 widespread,
distributed in 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
has delivered encouraging results in all the drill holes completed this year, confirming and extending the
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wide zones of alteration and associated mineralization identified from previous programs. Four mineralized
zones were outlined through the recent drilling campaigns, the most significant to date being the Renard
system, and all zones remain open for potential extensions. These results will be used to refine a
preliminary deposit model to help guide future drilling campaigns and support the completion of an initial
resource estimate planned in the coming months.”
Next Steps
In 2019, an initial 12,000 to 15,000 metres of diamond drilling program is planned to infill and further
test continuity of the mineralized zones of the Renard system. Drill rigs are currently being mobilized
to the property with the commencement of drilling activities expected by mid-January.
The drilling results, coupled with ongoing geological, geochemical and structural studies, will be
integrated to support the development and refinement of a deposit model with the objective of
completing 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 and 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.
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.
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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 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.
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 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”, “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 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 No rth and South America and West Africa is complemented
by development and exploration projects and continu ed assessment of accretive acquisition opportunities.
IAMGOLD is in a strong financial position with extensive management and operational expertise.
For further information please contact:
Indi Gopinathan, Investor Relations Lead, IAMGOLD Corporation
Tel: (416) 360-4743 Mobile: (416) 388-6883
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, IAMG OLD'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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Table 1 Nelligan Project Drilling Results - 2018 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-18-90 522,500.6 5,473,657.4 373.9 335 -45 486.00 287.10 292.00 4.90 4.83 1.35 RENARD
ZONE
328.50 334.50 6.00 4.24 1.18
370.50 396.00 25.50 20.89 0.99
421.00 441.00 20.00 16.38 0.66
NE-18-91 523,023.1 5,473,900.9 375.7 333 -58 381.00 95.50 117.50 22.00 16.85 1.43 RENARD
ZONE
Including (3) 100.60 106.55 5.95 4.56 2.90
126.30 159.20 32.90 28.49 1.28
Including (3) 132.00 136.50 4.50 3.90 3.29
167.00 178.30 11.30 9.79 0.71
182.00 197.50 15.50 14.05 0.88
Including (3) 189.00 192.00 3.00 2.72 2.13
214.00 271.50 57.50 52.11 1.87
Including (3) 232.47 245.18 12.71 11.01 3.98
Including (3) 265.00 265.50 0.50 0.47 33.20
352.50 367.50 15.00 12.99 0.56
NE-18-93 522,873.5 5,473,765.1 378.9 330 -48 450.00 288.50 343.50 55.00 42.13 1.47 RENARD
ZONE
Including (3) 306.00 312.00 6.00 4.60 3.22
Including (3) 321.00 325.50 4.50 3.45 4.88
381.00 396.00 15.00 11.49 1.69
430.50 435.00 4.50 3.45 2.29
NE-18-94 522,567.8 5,473,588.6 376.2 335 -45 450.00 391.00 402.65 11.65 10.56 0.90 RENARD
ZONE
406.50 416.50 10.00 9.06 1.20
438.50 448.50 10.00 9.06 0.76
NE-18-95 522,934.4 5,473,692.6 376.1 330 -65 630.00 51.00 59.80 8.80 5.66 0.76 36 West ZONE
183.60 237.30 53.70 48.67 0.97
Including (3) 222.00 237.30 15.30 13.87 1.55
250.20 265.00 14.80 13.41 1.63
Including (3) 251.60 256.00 4.40 3.99 2.34
Including (3) 257.90 261.00 3.10 2.81 3.09
378.10 420.20 42.10 38.16 3.59 RENARD
ZONE
Including (3) 378.10 379.50 1.40 1.32 14.25
Including (3) 399.50 402.50 3.00 2.60 12.80
441.00 450.90 9.90 7.58 1.31
495.50 504.50 9.00 5.79 1.23
510.50 514.50 4.00 2.57 3.07
522.00 538.50 16.50 10.61 1.09
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NE-18-96 522,613.8 5,473,656.1 380.3 335 -45 525.00 307.65 325.00 17.35 14.21 0.97 RENARD
ZONE
335.25 363.00 27.75 24.03 5.69
Including (3) 342.00 348.80 6.80 5.89 19.89
Including (3) 342.85 344.30 1.45 1.26 79.40
379.00 380.50 1.50 1.15 17.15
390.25 408.00 17.75 16.09 1.66
Including (3) 402.00 402.95 0.95 0.86 12.55
457.50 472.20 14.70 12.73 1.02
502.00 515.00 13.00 11.26 0.96
NE-18-97 522,859.0 5,473,569.1 378.7 330 -45 647.30 57.00 74.50 17.50 15.16 1.49 LIAM ZONE
Including (3) 57.00 66.00 9.00 7.79 2.21
137.00 147.50 10.50 9.87 1.67 36 West ZONE
Including (3) 144.50 146.00 1.50 1.41 5.50
161.65 194.00 32.35 29.32 1.10
406.50 422.00 15.50 11.87 1.64 RENARD
ZONE
Including (3) 410.00 411.50 1.50 1.15 10.25
443.00 487.50 44.50 36.45 1.61
Including (3) 445.50 456.00 10.50 8.60 4.16
497.50 511.50 14.00 12.12 1.46
517.50 534.50 17.00 14.72 1.30
576.47 589.50 13.03 11.28 0.80
NE-18-98 522,638.4 5,473,569.2 377.2 330 -52 552.00 432.00 446.00 14.00 12.12 5.04 RENARD
ZONE
Including (3) 439.00 443.00 4.00 3.46 9.79
507.70 524.20 16.50 13.52 1.16
533.20 542.20 9.00 7.37 0.60
NE-18-99 523,108.7 5,473,898.1 372.4 335 -55 366.00 55.10 69.00 13.90 10.65 0.56 RENARD
ZONE
93.00 99.40 6.40 4.90 0.83
103.40 126.00 22.60 15.98 1.09
Including (3) 108.00 114.00 6.00 4.24 2.05
138.00 147.00 9.00 7.37 1.08
192.00 208.10 16.10 13.19 2.42
Including (3) 204.20 205.54 1.34 1.10 14.75
236.00 276.40 40.40 30.95 2.35
Including (3) 272.60 273.60 1.00 0.77 50.60
281.50 303.00 21.50 15.20 0.84
316.00 325.80 9.80 6.93 1.64
355.50 366.00 10.50 8.60 0.69
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.
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Figure 1: Nelligan drill hole plan map and highlighted 2018 assay results.