IAMGOLD Updates Diamond Drilling Results on its Advanced Boto Exploration Project, Senegal

TORONTO, May 31, 2017 /CNW/ - IAMGOLD Corporation ("IAMGOLD" or the "Company") today announced additional drilling results from its 100% owned Boto Gold Project in eastern Senegal, West Africa. The reported assay results are from the remaining twenty-two diamond drill holes, totaling 2,842 metres, completed at the Malikoundi deposit and Malikoundi North extension. The Company's ongoing drilling program had resumed in the fourth quarter of 2016 after seasonal rains, and continued into the first quarter of 2017.

The assay results are provided in Tables 1 and 2 and include the following highlights:

Malikoundi Deposit (Deepened Holes):

  • Drill Hole DBDD-2201: 37 metres grading 1.83 g/t gold
    and 19 metres grading 3.28 g/t gold

  • Drill Hole DBDD-2261: 42 metres grading 1.26 g/t gold

  • Drill Hole DBDD-2266: 77 metres grading 4.35 g/t gold
    Includes: 9 metres grading 11.76 g/t gold

Malikoundi North Extension:

  • Drill Hole DBDD-2321: 14 metres grading 1.64 g/t gold

  • Drill Hole DBDD-2322: 22 metres grading 1.79 g/t gold

Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated, "With the last round of drilling results now in hand from our drilling program at the Malikoundi deposit, we are working to update the resource model for use in our ongoing technical evaluation of the project.  Our drilling activities are now focused on targeting possible resource expansions at the Boto 5 and Boto 6 deposits."

BOTO PROJECT, SENEGAL

The Boto project comprises 236 square kilometres of exploration licenses located in eastern Senegal along the Senegal-Mali border.  The geological setting of the project area is similar to the prolific Sadiola and Loulo gold districts in adjacent Mali, being underlain by highly prospective, Birimian-aged metasedimentary, volcanic and intrusive rocks along a seven-kilometre strike length of the Senegal-Mali Shear Zone.

As of December 31, 2016, the project hosts an indicated resource of 27.7 million tonnes averaging 1.8 grams of gold per tonne for 1.56 million ounces and an inferred resource of 2.9 million tonnes averaging 1.3 grams of gold per tonne for 125,000 ounces (see news release regarding reserves and resources dated February 22, 2017).

Next Steps

The drilling results from Malikoundi will be incorporated into an updated resource model for the Boto project.  Diamond drilling activities continue on the property targeting additional mineral resources along known mineralized trends associated with the Boto 5 and Boto 4-6 deposits.

Technical Information and Quality Control Notes

Boto Project, Senegal:

The Boto drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. The sampling of, and assay data from, drill core is monitored through the implementation of a quality assurance - quality control (QA-QC) program designed to follow industry best practice. Drill core (HQ and NQ size) samples are selected by the IAMGOLD geologists and sawn in half with a diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample intervals are generally 1 metre in length. Samples are prepared at the Veritas Preparation Laboratory in Bamako, Mali and analyzed using a standard fire assay with a 50 gram charge with an Atomic Absorption (AA) finish at the Veritas Analytical Laboratory in Abidjan, Ivory Coast.

Qualified Persons

The information in this news release was prepared under the supervision of, and reviewed and verified by, Craig MacDougall, P.Geo., Senior Vice President, Exploration for IAMGOLD. Mr. MacDougall is a Qualified Person as defined by National Instrument 43-101.

Forward Looking Statement

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 (including, without limitation, statements regarding expected, estimated or planned gold production, cash costs, margin expansion, capital expenditures and exploration expenditures and statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "continue", "expect", "estimate",  "intend", "to have', "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, cash costs, margin expansion, capital expenditures and exploration expenditures and failure to establish estimated mineral resources, 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 Canadian provincial 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.

About IAMGOLD

IAMGOLD (www.iamgold.com) is a mid-tier mining company with four operating gold mines on three continents. A solid base of strategic assets in North and South America and West Africa is complemented by development and exploration projects and continued assessment of accretive acquisition opportunities. IAMGOLD is in a strong financial position with extensive management and operational expertise.

Please note:

This entire news release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through CNW Group's website at www.newswire.ca. 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 http://www.iamgold.com/French/accueil/default.aspx.

Table 1: Boto Project Drilling Results – Malikoundi and Malikoundi North Deposit

Hole#

UTM (WGS84Zone29N)

AZ

DIP

EOH

From

To

Length

Grade


Easting

Northing

Elevation

(degrees)

(degrees)

(m)

(m)

(m)

(m)

(g/t Au)

2313

241964

1379263

165

90

-60

225

81

85

4

1.12








116

118

2

0.73

2314

242030

1379121

165

90

-60

215

63

65

2

0.65

2315

242128

1379248

164

90

-60

125

No significant intersection



2316

242159

1378899

162

115

-60

60

No significant intersection



2321

241943

1380065

163

115

-60

99

71

85

14

1.64

2322

241986

1380047

163

115

-60

45

13

35

22

1.79

2323

241903

1380302

162

115

-60

150

69

72

3

0.79








122

133

11

1.10

2324

241905

1380410

160

115

-60

150

127

131

4

1.48

2325

241946

1380501

159

115

-60

102

44

46

2

0.74








83

85

2

3.38

2326

242001

1380532

158

115

-60

42

14

16

2

0.84

2327

241957

1380674

131

122

-60

99

No significant intersection



2328

242004

1380652

133

115

-60

45

No significant intersection



2329

241894

1380251

162

115

-60

170

No significant intersection



2330

241912

1380464

159

115

-60

160

117

129

12

1.47

2331

241896

1380195

162

115

-60

170

126

140

14

0.80

2332

242000

1379683

165

115

-60

60

44

48

4

0.52

2333

241986

1379822

164

115

-60

60

44

49

5

0.59

2334

241955

1379704

165

115

-60

108

93

95

2

1.99

2335

241941

1379842

164

115

-60

108

86

90

4

3.29

2336

241983

1379942

164

115

-60

61

26

40

14

0.99

2338

241938

1379963

164

115

-60

108

71

84

13

0.84






Total

2362





Notes:

1. Drill hole intercepts are calculated using a minimum down-hole length of 2 meters, a cut-off grade of 0.5 g/t gold, a global assay cap of 25 g/t gold and may include up to 5 metres of internal dilution.

2. The true widths of intersections are interpreted to approximate the reported downhole lengths.

 

Table 2: Boto Project Drilling Results – Deepened Drill Holes (Ext), Malikoundi Deposit

Hole#

UTM (WGS84Zone29N)

AZ

DIP

EOH

From

To

Length

Grade


Easting

Northing

Elevation

(degrees)

(degrees)

(m)

(m)

(m)

(m)

(g/t Au)

2201 Ext

241728

1379267

166

116

-60

470

375

412

37

1.83

including







405

407

2

15.37








420

439

19

3.28

2204*

241770

1379357

166

116

-60

350

318

350

32

1.67

2204 Ext

241770

1379357

166

116

-60

410

318

354

36

1.58

2217 Ext

241726

1379204

166

115

-60

500

407

411

4

2.95








428

433

5

0.80








478

481

3

1.26

2225 Ext

241776

1379295

166

116

-60

420

398

411

13

2.01

2259*

241633

1379366

166

115

-60

481

415

480

65

1.57

2259 Ext

241633

1379366

166

115

-60

570

415

492

77

1.48








503

510

7

1.74








522

527

5

5.54








533

567

34

1.34

2261*

241727

1379323

166

115

-60

417

403

415

12

2.07

2261 Ext

241727

1379323

166

115

-60

465

403

445

42

1.26

2266*

241639

1379254

166

115

-60

465

432

465

33

4.28

2266 Ext

241639

1379254

166

115

-60

525

432

509

77

4.35

including







469

478

9

11.76

including







483

485

2

9.77








523

525

2

4.49






Total

480





Notes:

1. Drill hole intercepts are calculated using a minimum down-hole length of 2 meters, a cut-off grade of 0.5 g/t gold, a global assay cap of 25 g/t gold and may include up to 5 metres of internal dilution.

2. The true widths of intersections are interpreted to approximate the reported downhole lengths.

3. *- previously reported footwall intercept (see new releases dated October 20, 2014; February 3, 2015, April 23, 2015 and July 20, 2015)

 

Boto Project Drillhole Map

SOURCE IAMGOLD Corporation

For further information: Ken Chernin, VP Investor Relations, IAMGOLD Corporation, Tel: (416) 360-4743, Mobile: (416) 388-6883; Laura Young, Director, Investor Relations, IAMGOLD Corporation, Tel: (416) 933-4952, Mobile: (416) 670-3815; Shae Frosst, Investor Relations Associate, IAMGOLD Corporation, Tel: (416) 933-4738, Mobile: (647) 967-9942, Toll-free: 1-888-464-9999, info@iamgold.com

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