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Iamgold and Vanstar update Nelligan resource estimate

13th January 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Canadian miner Iamgold has confirmed the expansion potential of the Nelligan joint venture (JV) project, in Quebec, executive VP for growth Craig MacDougall reported on Thursday, announcing an updated mineral resource estimate (MRE).

The updated MRE comprises 72.2-million tonnes of indicated mineral resources, averaging 0.85 g/t for 1.97-million ounces of gold, as well as 114.1-million tonnes of inferred resources, averaging 0.88 g/t for 3.24-million ounces of gold.

Mineral resources have increased by 92% in tonnage, with a 15% decline in gold grades, for an overall gain of 63% in metal content, relative to the 2019 estimate.

“This mineral resource estimation has not only resulted in a significant increase in resources, but also resulted in upgrading nearly two-million ounces from inferred to an indicated resource classification. Potential for further resource expansion appears favourable, noting that the deposit has areas within the resource pit shell, along strike and at depth that remain open for further drilling. Our exploration efforts continue to highlight the significance of this pure grass-root discovery," said MacDougall.

Since 2020, Iamgold has drilled 53 additional holes (for 22 045 m) to expand the resource base particularly to the west and at depth.

The Nelligan JV is 75% owned by Iamgold and 25% by Vanstar Mining Resources.

Edited by Creamer Media Reporter

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