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IAMGOLD Announces Positive Results from the Essakane Carbon-in-Leach and Heap Leach Project Feasibility Study; Reflecting Increased Cash Flows and Extended Mine Life
All amounts are in US dollars, unless otherwise indicated. Toronto, Ontario--(Newsfile Cor...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Announces Positive Results from the Essakane Carbon-in-Leach and Heap Leach Project Feasibility Study; Reflecting Increased Cash Flows and Extended Mine LifeAll amounts are in US dollars, unless otherwise indicated. Toronto, Ontario--(Newsfile Corp. - November 6, 2019) - IAMGOLD Corporation (TSX: IMG) (\"IAMGOLD\" or the \"Company\") today announced positive results from a Feasibility Study (\"FS\") for the Carbon-in-Leach and Heap Leach Project (the \"Project\") at its Essakane operation in Burkina Faso, West Africa. The results support an increase in current hard rock carbon-in-leach (\"CIL\") plant capacity and outlines an economically viable Heap Leach (\"HL\") facility at the end of CIL operations.FEASIBILITY HIGHLIGHTS (100% basis)Indicated Resources of 4.878 million ounces grading 0.98 g/t Au, inclusive of reserves on the Essakane Mining Concession, based on a new Resource Model versus the pre-feasibility study (\"PFS\");Proven and Probable Reserves of 3.985 million ounces grading 0.96 g/t Au;Mine life of 12 years (2020-2031), with:Mill throughput of 11.7 million tonnes per annum (Mtpa) hard rock equivalent capacity, up from current design of 10.8 Mtpa at 100% hard rock (2020-2026);Heap Leach throughput of 8.5 Mtpa (2027-2031);Robust average annual production of 433,000 ounces during CIL operations, representing a 4% increase above CIL output from the previous study, including:Peak year production exceeding 530,000 ounces using CIL;Annual production of 73,000 ounces per year of HL production at end of CIL production; achieving an annual gold output from HL similar to previous study, but with 15% lower throughput;Minimal capital investment of $9.0 million required for CIL optimization, with commissioning targeted for Q3 2020;Reduction, and deferral, of total HL capital expenditures by $40 million to $115 million (2025-2026) from the previous study, while maintaining the same HL production profile;After-tax NPV@6% of $874 million, life of mine direct cash costs of $778/oz and all-in sustaining costs of $949/oz; Significant increase in HL recoveries to 67% (from 55%) through the use of high pressure grinding rolls (HPGR) edges recycling in closed circuit including agglomeration step and extended leach time;5% increase in average diluted grade of CIL material to 1.24 g/t;Future Option retained to process the HL materi...