Canadian Mining Journal


GOLD: Iamgold reports new discovery at Côté project

The Côté gold project could cost upwards of $1.1 billion to develop. (Image: Iamgold Corp.)

ONTARIO – Toronto-based Iamgold Corp. (70%) and Sumitomo Metal Mining Co. (30%) of Japan have announced the discovery of a new gold zone at their Côté project 125 km southwest of Timmins. The new zone of intrusive-hosted mineralization has been named the Gosselin zone.

Drill cores from the new zone yielded the following assays:

  • Hole CL15-39EXT: 0.81 g/t gold over 350.0 metres, including 2.43 g/t over 15.0 metres,1.13 g/t over 91.0 metres, and 1.12 g/t over 104.0 metres;
  • Hole GOS17-05: 0.68 g/t gold over 345.0 metres including 1.13 g/t over 132.3 metres;
  • Hole GOS18-07: 0.63 g/t gold over 130.0 metres and 1.36 g/t gold over 139.7 metres, including 2.11 g/t over 79.0 metres; and
  • Hole GOS18-09: 0.65 g/t gold over 261.2 metres, including 0.95 g/t over 163.0 metres, and a separate intersection of 1.42 g/t gold over 92.0 metres.

The Gosselin zone is located about 1.5 km northeast of the Côté gold deposit. The mineralized zone is a wide corridor of mineralization approximately 750 metres along strike, 200 metres wide and 400 metres in depth.

Iamgold completed a feasibility study for Côté last year. It was estimated to contain measured and indicated resources of 10.0 million oz. of contained gold and inferred resources of 2.4 million oz.

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Note: A previous version of this article gave the location of the Gosselin zone as being northwest of the Côté deposit, but it located to the northeast.