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GOLD: IamGold updates Cote resource, offers 2013 guidance

TORONTO – The results of recent drilling at the Cote gold project between Timmins and Sudbury, ON, has allowed IamGold Corp. to update resource numbers, moving most of them into the indicated category. The indicated resource is now 269...


TORONTO – The results of recent drilling at the Cote gold project between Timmins and Sudbury, ON, has allowed IamGold Corp. to update resource numbers, moving most of them into the indicated category. The indicated resource is now 269 million tonnes grading 0.88 g/t Au or 7.61 million contained oz, at a cut-off of 0.03 g/t. The updated number represents a 114% increase in the indicated resource. The inferred portion totals 44 million tonnes at 0.74 g/t Au, or 1.04 million contained oz.

IamGold’s 2012 gold production totaled 830,000 oz from three mines it operates and two in which it has joint venture interests. By mine, output was 315,000 oz from Essakane in Burkina Faso (90% owned), 382,000 oz from Rosebel in Surinam (95% owned), 4,000 oz from Doyon in Quebec (100% owned), 100,000 oz from Sadiola (41% interest) and 29,000 oz from Yatela (40% interest). The latter two mines are in Mali.

Next year the company plans to produce between 875,000 and 950,000 oz of gold. Over five years gold output is to grow by 80% to between 1.4 million and 1.6 million oz as the Westwood gold mine ramps up in Quebec and The Cote gold mine planned to come on-stream in 2017.

IamGold also owns and operates the Niobec niobium mine 25 km north of Chicoutimi, QC. This project produced 4.7 million kg of niobium at an average margin of $15/kg.

Detailed information about the Cote project and the Westwood development are posted at IamGold.com.


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