IAMGOLD (TSX:IMG) has recently released assay results from its 2024 drilling program conducted at the Nelligan Project in Quebec. These results have confirmed the extension of the mineralized zones within the deposit.
In addition to this, the company has also updated its mineral resource estimate for the Monster Lake Project in order to refresh the NI 43-101 technical report that was previously filed in 2018.
As of 10:46 am ET, shares of IAMGOLD are down by 1.54 per cent to C$8:31. The drilling program included 17 diamond drill holes totaling 13,476.8 meters, with 15 holes completed in the resource area of the Nelligan deposit and 2 exploration holes testing targets in the northern portion of the property.
IAMGOLD has reported that the 2024 drilling program’s main objective was to expand the deposit in the eastern portion at depth and conduct in-fill drilling in specific areas to enhance resource classification from inferred to indicated.
The mineralization associated with the estimated mineral resources has been intersected over a strike length of more than 1.8 kilometers and to a depth of 350 to over 500 vertical meters, with opportunities for further exploration along strike and at depth.
CEO of IAMGOLD, Renaud Adams, expressed optimism about the potential for expansion of the Nelligan asset and emphasized the company’s focus on the safe ramp-up and growth of Côté Gold.
Future diamond drilling phases will be aimed at completing in-fill and/or expansion drilling based on the updated mineral resources estimate.
Furthermore, IAMGOLD provided an updated mineral resource estimate for its Monster Lake Project, highlighting indicated mineral resources of 239,000 tons averaging 11.0 g/t Au and inferred mineral resources of 1,053,000 tons averaging 14.4 g/t Au.
IAMGOLD, an intermediate gold producer and developer with operating mines in North America and West Africa, remains committed to exploration and development activities in the region.
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