Iamgold Reports Further Results from Its 2019 Drilling Program ON the LAC Gamble Zone of the Rouyn GOLD Project, Quebec
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD REPORTS FURTHER RESULTS FROM ITS 2019 DRILLING PROGRAM
ON THE LAC GAMBLE ZONE OF THE ROUYN GOLD PROJECT, QUEBEC
Toronto, Ontario, June 12, 2019 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today
announced additional results from its 2019 winter diamond drilling program completed at the Rouyn Gold
project optioned from Yorbeau Resources Inc. (“Yorbeau”), located 4 km south of Rouyn-Noranda,
Quebec, and approximately 45 kilometers southwest of our Westwood operation. The Company is
reporting assay results from an additional 21 diamond drill holes, totaling 6,181 metres. Results were
previously reported for 10 diamond drill holes totaling 2,257 metres (see news release dated May 23,
2019). Results are pending from the remaining 17 drill holes, totaling 4,962 metres, and will be reported
once they are received, validated and compiled.
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 Lac Gamble zone is attached to this news
release):
Main Zone:
Drill hole GA-19-693: 10.9 metres grading 6.6 g/t Au
includes: 4.2 metres grading 12.1 g/t Au
Drill hole GA-19-694: 29.7 metres grading 9.0 g/t Au
includes: 11.1 metres grading 17.5 g/t Au
includes: 3.0 metre grading 53.0 g/t Au
Drill hole GA-19-699: 12.8 metres grading 3.7 g/t Au
includes: 5.0 metres grading 7.9 g/t Au
includes: 1.6 metres grading 16.8 g/t Au
Drill hole GA-19-715: 3.3 metres grading 9.0 g/t Au
includes: 0.8 metres grading 35.9 g/t Au
The objective of the 2019 winter diamond drilling program was to infill a portion of the Lac Gamble zone
previously drilled by Yorbeau and various joint venture partners. The program was designed to achieve an
approximate 50 x 50 metres drill hole spacing pattern to ultimately support the completion of a mineral
resource estimate. The completed drill holes successfully intersected the targeted sheared Cadillac-Piché
corridor which hosts the mineralized zone. The zone is characterized by alteration observed to vary from
several metres to greater than ten metres in width, exhibiting variable carbonatization, fuchsite,
silicification, crosscut by a network of white quartz and brown tourmaline stockwork veins and breccias.
Gold mineralization occurs as small specks of visible free gold associated with minor sulphides in quartz-
tourmaline veinlets.
Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: “ The 2019 delineation drilling
program continues to deliver positive results from the Lac Gamble zone. As mentioned before, our
involvement in the newly optioned Rouyn Gold Project was based on the potential to rapidly delineate
mineral resources along the targeted Cadillac Break, which could be evaluated as potential satellite
deposits for our Westwood operation. Once the remaining assay results are in hand, the exploration team
will work to develop a preliminary deposit model to support a future initial resource estimate.”
Next Steps
The results of this initial diamond drilling program will be compiled along with the existing and newly
acquired geological, geochemical and structural information to support the development and
refinement of a deposit model to ultimately support a mineral resource estimation of the Lac Gamble
zone.
Additional drilling is being planned to test selected targets in the area of the Astoria deposit, located
several kilometres to the east. The program is expected to commence later in the summer.
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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 and Augmitto, benefit from established underground infrastructure and have
been the subject of technical reports that include resource estimates that were previously filed in
accordance with Regulation 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 stage 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. Exploration programs
must include the completion of a minimum of 20,000 metres of diamond drilling within the first two-years of
the option. By the end of the expenditure period, the Company must 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.
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 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 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 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 entire pulverized
material. Insertion of duplicate, blanks and certified reference standards in the sample sequence is done in
all drill holes for quality control.
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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 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:
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, 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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Table 1: Rouyn Gold Project – Lac Gamble zone 2019 Winter drilling results
Notes:
1. True widths are estimated at 70 % of the core interval.
2. Drill hole intercepts are calculated with a lower cut of 1.00 g/t Au and may contain lower grade interval of up to 3 metres in
length.
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.
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)
GA-19-687 644,478 5,339,771 3,285 185 -77 273.00 204.50 217.00 12.50 8.06 2.68 Main zone
Including (3) 209.30 212.95 3.65 2.35 5.34
221.30 235.60 14.30 9.26 2.25 Main zone
Including (3) 232.90 235.60 2.70 1.75 7.54
GA-19-693 644,843 5,339,787 3,282 187 -45 141.00 101.7 103.6 1.9 1.74 3.49 Hangingw all zone
107.90 118.80 10.90 9.96 6.63 Main zone
Including (3) 114.60 118.80 4.20 3.84 12.08
GA-19-694 644,843 5,339,787 3,282 175 -82 225.00 155.25 157.30 2.05 1.06 3.64 Hangingw all zone
172.30 202.00 29.70 15.69 8.96 Main zone
Including (3) 172.30 175.30 3.00 1.57 12.60
Including (3) 183.30 194.40 11.10 5.89 17.49
Including (3) 183.30 184.30 1.00 0.53 15.10
Including (3) 191.40 194.40 3.00 1.59 52.97
Including (3) 199.40 202.00 2.60 1.38 5.59
GA-19-695 644,843 5,339,787 3,282 152 -72 225.00 142.75 153.4 10.65 6.81 2.64 Main zone
Including (3) 142.75 146.20 3.45 2.20 5.01
211.50 214.00 2.50 1.63 1.31 Footw all zone
GA-19-696 644,798 5,339,772 3,286 188 -50 159.00 106.40 109.40 3.00 2.63 3.08 Hangingw all zone
116.00 118.00 2.00 1.75 4.55 Main zone
156.50 158.00 1.50 1.32 2.00 Footw all zone
GA-19-697 644,768 5,339,806 3,285 185 -76 267.00 217.00 222.40 5.40 3.49 1.95 Main zone
Including (3) 220.40 222.40 2.00 1.29 3.17
GA-19-698 644,851 5,339,735 3,282 149 -46 102.00 44.40 46.80 2.40 1.94 1.38 Hangingw all zone
55.55 60.20 4.65 3.76 1.16 Main zone
GA-19-699 644,768 5,339,806 3,285 175 -58 216.00 166.80 179.55 12.75 10.39 3.74 Main zone
Including (3) 174.60 179.55 4.95 4.04 7.89
Including (3) 178.00 179.55 1.55 1.26 16.82
GA-19-702 644,853 5,339,944 3,280 154 -46 330.00 262.20 269.20 7.00 6.10 1.66 Main zone
Including (3) 262.20 265.10 2.90 2.53 2.57
GA-19-703 644,830 5,339,941 3,283 174 -66 366.00
GA-19-705 644,716 5,339,912 3,285 186 -71 390.00
GA-19-706 644,772 5,339,928 3,284 185 -60 366.00 316.60 318.10 1.50 1.25 2.87 Main zone
GA-19-708 644,717 5,339,906 3,289 171 -87 462.00 409.25 411.30 2.05 1.47 1.01 Main zone
GA-19-709 644,382 5,339,936 3,281 180 -86 609.00 542.00 548.00 6.00 3.62 2.28 Hangingw all zone
Including (3) 543.00 546.00 3.00 1.81 3.36
567.00 570.00 3.00 1.83 0.85 Main zone
GA-19-710 644,382 5,339,936 3,281 175 -65 447.00 397.00 401.90 4.90 3.98 3.13 Main zone
Including (3) 397.00 399.80 2.80 2.28 4.64
GA-19-714 644,845 5,339,853 3,285 150 -60 261.00 182.00 183.75 1.75 1.34 3.48 Hangingw all zone
209.85 214.00 4.15 3.25 1.31 Main zone
GA-19-715 644,862 5,339,785 3,284 131 -45 144.00 102.90 108.20 5.30 3.79 2.73 Hangingw all zone
117.15 120.45 3.30 2.39 8.99 Main zone
Including (3) 117.15 117.90 0.75 0.54 35.90
138.3 140.10 1.80 1.31 1.21 Footw all zone
GA-19-717 644,708 5,339,775 3,283 181 -77 243.00 177.30 179.80 2.50 1.54 1.18 Hangingw all zone
198.90 207.50 8.60 5.37 1.16 Main zone
Including (3) 198.90 200.00 1.10 0.68 3.20
12-GA-592W (4) 644,475 5,339,956 3,082 173.1 -79.7 362.00 532.90 534.90 2.00 1.57 1.36 Main zone
12-GA-593W (4) 644,474 5,339,912 2,999 180.7 -72.5 247.00 495.90 497.90 2.00 1.71 3.68 Hangingw all zone
509.20 511.20 2.00 1.72 4.18 Main zone
12-GA-628W2 (4) 644,385 5,339,904 3,120 171.8 -76.9 346.00 468.00 470.00 2.00 1.54 2.59 Main zone
UTM NAD83 Zone18
No significant results
No significant results
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Figure 1: Rouyn Gold – Lac Gamble zone longitudinal section and highlighted 2019 assay results.