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IAMGOLD Files Technical Report for the Nelligan Project
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. Toronto, Ontario...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Files Technical Report for the Nelligan ProjectAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - February 23, 2023) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (\"IAMGOLD\" or the \"Company\") announces that the Company has filed a technical report for the Nelligan Joint Venture Project (\"Nelligan\") (IAMGOLD: 75%, Vanstar Mining Resources Inc. (\"Vanstar\"): 25%), titled \"Independent Technical Report for the Nelligan Gold Project, Quebec, Canada\" (the 2023 Technical Report) dated February 22, 2023. The 2023 Technical report was prepared by SRK Consulting (Canada) Inc. (\"SRK\") in accordance with National Instrument 43-101 - Standards of Disclosure for mineral Projects (\"NI 43-101\"), as reported in the Company's news release dated January 12, 2023. The 2023 Technical Report supersedes the technical report on the Nelligan project dated December 4, 2019.The 2023 Technical Report can be found on the Company's website at www.iamgold.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml. Subsequent to a review of the pit optimization parameters used to derive a pit shell to constrain Mineral Resource reporting and benchmarking against comparable projects, amendments were made to the mining cost applied to waste material and to the percentage of payable metal applied relative to the Mineral Resource Estimate reported on January 12, 2023. These parameters were reviewed by both IAMGOLD and SRK, and are considered suitable to test the \"reasonable prospects for eventual economic extraction\" of the Mineral Resource model. The changes resulted in a 21,000 ounce increase in estimated Indicated Mineral Resources and 362,000 ounce increase to Inferred Mineral Resources. The table below shows the resultant Mineral Resource Statement:MINERAL RESOURCE STATEMENT - NELLIGAN PROJECT, CANADAAs at February 10th, 2023 (100% Basis)CategoryCut-off Grade(g/t Au)Tonnage(Mt)Grade(g/t Au)Contained Au(koz Au)Indicated0.3573.50.84 1 991 Inferred0.35129.50.87 3 600 Notes:2014 CIM definitions were followed for classification of Mineral Resources.Mineral resources are estimated at a cut-off grade of 0.35 g/t Au.Mineral Resources are reported using a gold price of US$1,500 per ounce and a US$:C$ exchange rate of 1:1.2 and gold recoveries of 83%.Mineral Resources...