Iamgold reports new discovery at Côté project

Toronto-based Iamgold Corp. (70% owner) and Sumitomo Metal Mining Co. (30% owner) of Japan have announced the discovery of a new gold zone at their Côté project 125 km southwest of Timmins, Ontario. The new zone of intrusive-hosted mineralization has been named the Gosselin zone.

Drill cores from the new zone yielded the following assays:

  • Hole CL15-39EXT: 0.81 g/t gold over 350.0 metres, including 2.43 g/t over 15.0 metres,1.13 g/t over 91.0 metres, and 1.12 g/t over 104.0 metres;
  • Hole GOS17-05: 0.68 g/t gold over 345.0 metres including 1.13 g/t over 132.3 metres;
  • Hole GOS18-07: 0.63 g/t gold over 130.0 metres and 1.36 g/t gold over 139.7 metres, including 2.11 g/t over 79.0 metres; and
  • Hole GOS18-09: 0.65 g/t gold over 261.2 metres, including 0.95 g/t over 163.0 metres, and a separate intersection of 1.42 g/t gold over 92.0 metres.

The Gosselin zone is located about 1.5 km northwest of the Côté gold deposit. The mineralized zone is a wide corridor of mineralization approximately 750 metres along strike, 200 metres wide and 400 metres in depth.

Iamgold completed a feasibility study for Côté last year. It was estimated to contain measured and indicated resources of 10 million oz. of contained gold and inferred resources of 2.4 million oz.

(This article first appeared in the Canadian Mining Journal)

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