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IAMGOLD Reports 2019 Attributable Reserves of 16.7 Million Ounces and Attributable Measured and Indicated Resources of 27.2 Million Ounces
Toronto, Ontario--(Newsfile Corp. - February 18, 2020) - IAMGOLD Corporation ("IAMGOLD" or t...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Reports 2019 Attributable Reserves of 16.7 Million Ounces and Attributable Measured and Indicated Resources of 27.2 Million OuncesAll dollar amounts are in U.S. dollars unless otherwise indicated; Measured and Indicated Resource Estimates are quoted Inclusive of Mineral Reserves for all sites and projectsToronto, Ontario--(Newsfile Corp. - February 18, 2020) - IAMGOLD Corporation (\"IAMGOLD\" or the \"Company\") today announced its 2019 year-end mineral reserve and resource statement. (See attached table for more details.) Total attributable Proven and Probable Reserves decreased by 6% to 16.7 million ounces at the end of 2019 from 17.9 million ounces of gold at the end of 2018. The decrease was primarily due to mine depletion during the year given the Company's attributable gold production of 762,000 ounces. There was no change in the $1,200 per ounce gold price assumption for estimating Mineral Reserves at the Company's owned and operated mines and development projects. Total attributable Measured and Indicated Resources (inclusive of Reserves) decreased overall by 2% or 0.7 million ounces to 27.2 million ounces of gold at the end of 2019. Total attributable Inferred Resources increased by 38% or 3.3 million ounces to 12.0 million ounces of gold at the end of 2019, primarily due to the declaration of a Mineral Resource estimate at the Nelligan Gold Project in Quebec and the completion of an updated Mineral Resource estimate at the Côté Gold Project in Ontario. There were no changes in the gold price assumptions for estimating mineral resources at Essakane, Rosebel, and resource-stage projects ($1,500 per ounce) or at Westwood ($1,200 per ounce). Gordon Stothart, President and COO of IAMGOLD, commented, \"In 2019, we made further progress in advancing the resource stage projects in our pipeline. At the Nelligan Gold Project in Quebec, we declared an initial mineral resource and continued to identify additional resources at the Côté Gold Project. We also announced an updated mineral resource estimate at Pitangui in Brazil, successfully converting 52% of its resources to the indicated category. In Ontario, we discovered Gosselin just 1.5 kilometres from the proposed Côté pit, and reported positive drill results from this zone. In Quebec, we continued to explore the Rouyn Gold Project, located...