VANCOUVER (miningweekly.com) – Exploration partners Iamgold and TomaGold have reported bonanza grades at the Monster Lake gold project, 50 km south-west of Chibougamau, in Quebec.
Toronto-based Iamgold, which is earning a 75% interest in the project, on Thursday reported results from the final 14 holes of the winter drilling programme.
Assays have demonstrated the continuity of high grades of mineralisation associated with the Megane zone. Hole NL17-197 returned 67.42 g/t gold over 3.5 m, including 203.31 g/t over 1.2 m. Hole ML17-198B returned 80.28 g/t gold over 5 m, including 208.41 g/t over 1.8 m.
The lower shear zone returned 39.48 g/t gold over 1.6 m, including 66.5 g/t over 0.9 m, in hole ML17-199.
"With all assay results now in hand from our winter campaign, we are working to revise the deposit model to better understand the resource potential of the Megane Zone. Importantly, the drilling programme has continued to identify new areas of gold mineralisation along the main shear and associated with parallel structures, again reinforcing our view of the favourable potential for the discovery of additional mineralised zones," stated Iamgold senior VP for exploration Craig MacDougall.
In the coming weeks, Iamgold will undertake a 1 600-m diamond drilling programme to test gold-bearing structures along the main shear and parallel structures, specifically targeting the lower zone, as well as complete additional infill holes at the Megane zone.