Iamgold Reports Remaining Assay Results from the LAC Gamble Drilling Program ON the Rouyn GOLD Project, Quebec; Drilling Underway ON Astoria Area
NEWS RELEASE
TSX: IMG NYSE: IAG
IAMGOLD REPORTS REMAINING ASSAY RESULTS FROM THE LAC GAMBLE
DRILLING PROGRAM ON THE ROUYN GOLD PROJECT, QUEBEC; DRILLING
UNDERWAY ON ASTORIA AREA
Toronto, Ontario, August 20, 2020 – IAMGOLD Corporation (“IAMGOLD” or the “Company”) today
announced remaining assay results from its 2020 exploration diamond drilling program completed on the
Lac Gamble Zone at the Rouyn Gold Project optioned from Yorbeau Resources Inc. (“Yorbeau”). The
project is located 4 km south of Rouyn-Noranda, Quebec, and approximately 45 kilometers southwest of
IAMGOLD’s Westwood operation.
The Company is reporting assay results from the remaining twelve (12) diamond drill holes, totaling 4,062
metres completed as part of the winter 2020 drilling program. Drilling activities have also resumed on the
Astoria area, located approximately two kilometres east of the Lac Gamble zone, and assays will be
reported when 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 is attached to this news release):
Lac Gamble Zone - Main Zone:
Drill hole GA-19-761: 4.1 metres grading 10.4 g/t Au
And: 2.0 metres grading 7.8 g/t Au
includes: 1.0 metres grading 12.5 g/t Au
Drill hole GA-20-768: 8.9 metres grading 4.3 g/t Au
includes: 2.0 metres grading 15.1 g/t Au
Drill hole GA-20-769: 7.4 metres grading 8.3 g/t Au
includes: 1.0 metres grading 46.3 g/t Au
Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated: “Despite the infill drilling
program being interrupted as a result of a suspension of activities due to the COVID-19 crisis, a significant
part of the program was successfully completed and I commend the efforts of the exploration team who
adapted to these unique circumstances. With the results from the program now in hand, we are working to
update our deposit model to support a future initial resource estimate for the Lac Gamble zone. Drilling has
also resumed at Astoria to assess the resource potential of this area.”
The objective of the diamond drilling program on the Lac Gamble Zone was to continue a systematic infill
drilling program at nominal 50 x 50 metre drill centres in the upper part of the zone to support a future
resource estimation. In addition, lateral extensions were also targeted to evaluate the potential to expand
the zone. The program was interrupted in March 2020 due to the suspension of all activities as directed by
the Government of Quebec in response to the COVID-19 crisis. As a result, several areas of the deposit
remain to be systematically delineated and a further phase of drilling may be required and will be assessed
for the next winter season.
The drilling program successfully intersected the targeted sheared Cadillac-Piché corridor, which hosts the
Lac Gamble mineralized zone. The zone is associated with alteration varying 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.
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Next Steps
The implementation of COVID-19 safety protocols has permitted exploration drilling and field
activities to resume after the temporarily suspension as directed by the Government of Quebec.
The remaining 2020 exploration program is designed to evaluate selected exploration targets in the area of
the historic Astoria deposit and adjacent targets with up to 5,000 metres of additional diamond drilling
planned. The objective of the program is to assess the continuity of mineralization for the potential to
outline a resource. Assay results of this program will be reported once they are all received, validated and
compiled.
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 a preliminary
deposit model and the completion of a future mineral resource estimation of the Lac Gamble zone.
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. 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 in the second year of the option agreement.
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" 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 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
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
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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.
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 f orward-looking
statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”,
“expect”, “anticipate”, “estimate”, “believe”, “prospective”, “significant”, “significant potential”, “substantial”, t ransformative”,
“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 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, unexpected
increases in all-in sustaining costs or other costs, unexpected increases in capital expenditures and exploration expenditures,
variation in the mineral content within the material identified as Mineral Resources and Mineral Reserves from that predicted,
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 Cana dian 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. 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.
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 development project in Ca nada, 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. On July 21, 2020, the Company, together with joint
venture partner Sumitomo Metal Mining Co. Ltd., announced the decision to proceed with the construction
of the Côté Gold Project.
IAMGOLD is committed to maintaining its culture of accountable mining through high standards of 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 Exchange (trading symbol “IMG”) and the New York Stock
Exchange (trading symbol “IAG”).
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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 .
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Notes:
1. True widths of intersections are estimated at 70-90% of the core interval approximately.
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 i n
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-19-709W3 644 395 5 339 907 3 067 154 -72 327.00 468.00 477.00 9.00 7.60 2.07 Main zone
Including (3) 473.00 475.00 2.00 1.69 5.05
537.40 538.40 1.00 0.85 2.05 Footwall zone
GA-14-635W 644 333 5 339 883 3 054 171 -75 294.00 457.25 458.55 1.30 1.02 1.57 Hangingwall zone
467.00 469.00 2.00 1.59 7.70 Main zone
GA-20-757 644 649 5 339 899 3 283 186 -66 380.30
GA-20-761 644 783 5 339 807 3 284 182 -70 271.10 186.00 190.10 4.10 2.86 10.40 Main zone
195.10 200.30 5.20 3.64 1.05
209.60 211.60 2.00 1.41 7.75
Including (3) 209.60 210.60 1.00 0.70 12.50
217.10 218.60 1.50 1.06 1.57
GA-20-762 644 371 5 339 768 3 288 183 -72 282.00 228.00 229.00 1.00 0.73 6.67 Main zone
235.30 240.30 5.00 3.65 1.16
GA-20-764 644 544 5 339 727 3 284 182 -66 192.00 139.00 140.00 1.00 0.73 2.34 Main zone
GA-20-765 644 493 5 339 782 3 288 183 -66 276.00 174.10 175.20 1.10 0.84 1.12 Hangingwall zone
211.60 215.60 4.00 3.16 1.76 Main zone
GA-20-766 644 846 5 339 932 3 283 138 -71 381.00 308.85 312.35 3.50 2.62 0.99 Hangingwall zone
320.30 324.10 3.80 2.86 3.87 Main zone
Including (3) 320.30 321.30 1.00 0.75 10.10
328.00 329.00 1.00 0.76 2.20
332.00 333.00 1.00 0.76 1.31
338.50 339.50 1.00 0.76 2.06
352.50 359.00 6.50 4.95 1.67 Footwall zone
GA-20-767 644 839 5 339 940 3 284 156 -70 390.00 352.00 354.70 2.70 1.98 1.56 Main zone
GA-20-768 644 788 5 339 920 3 284 183 -58 345.00 275.00 277.00 2.00 1.74 4.05 Hangingwall zone
285.70 294.60 8.90 7.77 4.34 Main zone
Including (3) 286.70 288.70 2.00 1.75 15.10
GA-20-769 644 823 5 339 936 3 284 184 -55 342.00 277.00 278.50 1.50 1.30 1.08 Hangingwall zone
293.70 301.10 7.40 6.49 8.31 Main zone
Including (3) 300.10 301.10 1.00 0.88 46.30
GA-20-770 645 036 5 340 201 3 280 182 -54 582.00 552.80 554.30 1.50 1.34 3.25 Main zone
562.00 564.40 2.40 2.15 3.20 Footwall zone
4062.40
Table 1 : Rouyn Project Drilling Results - 2020 Lac Gamble Drilling program
UTM NAD83 Zone 17
No significant results
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Figure 1: Rouyn Gold – Lac Gamble zone longitudinal section and highlighted 20 20 assay results