Toronto’s Iamgold (TSE: IMG) and Montreal’s Yorbeau Resources (TSE: YRB) jointly released the results of the recent winter drilling program at the Rouyn gold project 4 km south of Rouyn-Noranda in Quebec. The results are from the Gamble Lake zone, between the Augmito and Astoria deposits.
Iamgold conducted the winter drilling to infill a part of the Lac Gamble zone drilled earlier by Yorbeau’s other partners. All the completed holes intersected the Cadillac-Piche corridor, as planned.
The results of the Gamble Lake drilling will be integrated with the existing geological, geochemical and structural information as a preliminary deposit model is created. Drilling has also resumed on selected targets near the historic Astoria deposit.
Iamgold can acquire 100% of the Royun project by paying C$4 million to Yorbeau and spending C$9 million on exploration over the next five years.
(This article first appeared in the Canadian Mining Journal)