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IAMGOLD Reports Remaining Assay Results from the Lac Gamble Drilling Program on the Rouyn Gold Project

Aug 21, 2020

IAMGOLD Corporation has released 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. 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.

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.

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