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IAMGOLD Announces Updated Resource Estimate at Nelligan - Growing Resources by 63% with 2.0 Million Gold Ounces in Indicated Resources and 3.2 Million Gold Ounces in Inferred Resources
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. Toronto, Ontari...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Announces Updated Resource Estimate at Nelligan - Growing Resources by 63% with 2.0 Million Gold Ounces in Indicated Resources and 3.2 Million Gold Ounces in Inferred ResourcesAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - January 12, 2023) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (\"IAMGOLD\" or the \"Company\") is pleased to announce an updated Mineral Resource Estimate (\"MRE\") for the Nelligan Joint Venture Project (\"Nelligan\") (IAMGOLD: 75%, Vanstar Mining Resources Inc. (\"Vanstar\"): 25%), located 60 kilometres southwest of Chibougamau, Quebec, Canada. Highlights:Nelligan Joint Venture Project updated MRE comprises (on a 100% basis using a US$1,500 per ounce gold price):72.2 million tonnes of Indicated Mineral Resources averaging 0.85 grams of gold per tonne for 1.97 million ounces of gold114.1 million tonnes of Inferred Mineral Resources averaging 0.88 grams of gold per tonne for 3.24 million ounces of goldMineral Resources have increased by 92% in tonnage, with a 15% decline in gold grades, for an overall gain of 63% in metal content - relative to the 2019 Mineral Resource estimateAdditional infill drilling completed from 2020 to 2022 and refinement of the deposit and structural models contributed to the conversion of 62% of Inferred Mineral Resources to an Indicated Mineral Resource category relative to the 2019 Mineral Resource estimate Potential highlighted for further resource expansionThe estimate was completed in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\") Definition Standards incorporated by reference in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (\"NI 43-101\"). Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated: \"We are very pleased to see that our drilling programs have confirmed the anticipated expansion potential at Nelligan resulting in a significant increase of Mineral Resources within a wide and persistent mineralized system. This Mineral Resource estimation has not only resulted in a significant increase in resources, but also resulted in upgrading nearly 2 million ounces from Inferred to an Indicated resource classification. Potential for further resource expansion appears favourable, noting that the deposit has areas within the r...