Côté Gold Continues Strong Ramp-Up as Gosselin Zone Delivers Promising Drill Results

IAMGOLD is making solid strides at the Côté Gold Mine, reporting significant operational progress for the third quarter of 2024. The mine, set to be one of Canada’s largest, is steadily approaching key milestones as its processing plant continues to ramp up. Additionally, recent drilling in the Gosselin Zone shows the potential for further expansion of the site’s gold resources.
Gold production reached 68,000 ounces in the quarter, with 41,000 ounces attributable to IAMGOLD. The ramp-up of the processing plant remains on track, with the facility expected to reach 90% of its design throughput by year’s end. Mining operations were similarly productive, extracting 3.2 million tonnes of ore as part of a broader 10.4 million tonne effort.
Processing plant throughput was a highlight, doubling from the previous quarter to 1.6 million tonnes. Following a planned shutdown in September to implement key optimizations, the plant hit a record daily throughput of 40,900 tonnes, exceeding its design capacity by 14%. As of early October, throughput averaged 30,000 tonnes per day, or 83% of design capacity, showing the plant’s growing efficiency.
Renaud Adams, President and CEO of IAMGOLD, praised the progress made. “The Côté team has demonstrated remarkable commitment and resilience as we push towards becoming one of the largest gold mines in Canada,” he said. “The optimizations undertaken this quarter have had a tangible impact on operations, especially in improving the performance of the processing plant. We’re confident in hitting our goal of 90% throughput by year’s end and look forward to the opportunities that lie ahead.”
The company also shared promising updates from its ongoing exploration of the Gosselin Zone, located northeast of the primary Côté zone. The latest drill results have outlined significant extensions of mineralization, with key findings including 368.8 meters at 0.96 g/t Au in one drill hole and 235 meters at 2.70 g/t Au in another.
Adams expressed optimism about Gosselin’s potential. “The Gosselin exploration results indicate a growing connection between the Côté and Gosselin zones, suggesting that we are only beginning to understand the full scope of the deposit. Both zones remain open at depth, and we believe Côté Gold will evolve into a mining district over time.”
Côté Gold’s continued ramp-up and the positive developments in Gosselin underscore IAMGOLD’s strategy for long-term growth. Production guidance for 2024 remains on the lower end of expectations at 220,000 to 290,000 ounces, with fourth-quarter performance poised to drive the next leap in capacity.
As the processing plant continues to improve and exploration reveals new opportunities, IAMGOLD is setting its sights on 2025 as a year to fully realize the potential of Côté Gold.
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