Highlights from 71 drill holes (21,900 metres) are as folllows:
— Hole 122 — The hole cut 101 metres (true width is estimated at close to 30 metres) with an average grade of 9.5 grams gold and 46.7 grams silver per tonne, plus 0.4% copper. Included were several sections ranging in width from 6 to 13 metres and grading 15-20 grams gold, 47-86 grams silver and 0.3-1.7% copper.
— Hole 124 — The hole cut several high-grade intercepts, including 15.9 metres grading 31 grams gold, 130 grams silver and 2.4% copper, and, higher in the hole, 13.6 metres of 17 grams gold, 44 grams silver and 1.1% copper.
— Hole 128 — The hole cut 22 metres grading 9 grams gold, 60.5 grams silver and 0.9% copper. Included was a 4-metre-wide high-grade interval of 33 grams gold, 230 grams silver and 3.8% copper.
— Hole 142 — The hole cut 25 metres grading 13 grams gold, 56 grams silver and 0.6% copper, including a 9.4-metre section of 23 grams gold, 74 grams silver and 1% copper.
— Hole 149 — The hole cut 79 metres grading 4.7 grams gold, 16 grams silver and 0.2% copper at a down-hole depth of 117 metres, including a 23.5-metre intercept of 10 grams gold, 27 grams silver and 0.5% copper. This hole cut several high-grade zones, one of which graded 21 grams gold, 66 grams silver and 1.1% copper over 9 metres.
In addition, 31 holes cut significant mineralization ranging in width from 1 to 77 metres and grading up to 25 grams gold, 295 grams silver and 7.2% copper.
Nineteen of the 71 holes returned gold grades in excess of 7 grams per tonne.
Most of the drilling has been on the D1 zone, though a new zone, Loma Larga, was identified 250 metres south of D1. The two zones have been identified over an area 1 km long by 750 metres wide, and mineralization is open in all directions.
The 130-sq.-km property is underlain by volcanic rocks in contact locally with an intrusion, which has an imprint of more than 4 km.
The company began by following up on a high-grade vein system, and subsequently figured out the geometry. Feeder zones, which cut specific volcanic horizons, locally spread mineralization out laterally.
The D1 zone comprises thick sequences of sub-horizontal gold and silver mineralization. The rock is generally covered by less than 10 metres of overburden. Small outcrops, a few metres across, are heavily altered (silicified) and usually unmineralized. The zone is cut by numerous sub-vertical faults.
Silicification and argillic alteration are evident over many kilometres.
High-grade veins are often within silicified horizons, typically tens of metres thick, which grade in the range of 2 grams gold per tonne. Silicified horizons are bounded by argillic alteration.
In addition to being hit at vertical depths of 150 metres, the lower-grade zones have been cut at shallow depths (for example, at a vertical depth of 25 metres).
Infill drilling is trying to define a resource in the D1 and Loma Larga area. In addition, drilling will test geochemical and geophysical anomalies that appear to correspond with extensions of mineralization cut in drilling.
Following the latest drill results, Iamgold’s share price rose 10%, and was trading around $8.25 at presstime.
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