Vancouver — Iamgold (IMG-T, IAG-N) has more than doubled inferred resources at its Westwood gold project, located 40 km east of Rouyn-Noranda, in Quebec’s Abitibi region.
Based on about 140,000 metres of drilling in 182 holes, the company has tabled its revised estimate of 14.1 million inferred tonnes grading 7.3 grams gold per tonne (using a 3-gram gold cutoff grade) for about 3.3 million contained ounces.
The 128% increase in contained gold over the 2004 estimate comes from the extensive drilling of on-strike extensions to three zones at Westwood. The mineralization remains open at depth and along strike.
Westwood lies about 2.5 km east of the company’s Doyon mine, which produced 153,000 oz. gold in 2006. Exploration drift development from Doyon towards the Westwood deposit is allowing underground drilling.
The company expects to complete a scoping study in August on the viability of sinking a shaft to access the Westwood mineralization. Iamgold plans to spend more than US$5 million on its Westwood program in 2007.
Iamgold acquired the Doyon Division and Sleeping Giant mines in northwestern Quebec as part of its late 2006 merger with Cambior.
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