IAMGOLD Intercepts Westwood Mineralization at Depth
Toronto, Ontario, December 5, 2007 - IAMGOLD Corporation (TSX: IMG / NYSE: IAG) ("IAMGOLD" or "the Company") is pleased to announce results from 5 drill holes of the ongoing drill program at the Westwood project, an advanced stage exploration project located within the Company's Doyon mine property in the Abitibi region of Northern Quebec.
These results include intercepts of the Zone 2 extension at a vertical depth of approximately 2.3 kilometres in hole R14281B-07, which is 800 metres deeper than mineralization previously intersected. This hole was specifically planned to test the depth potential and includes 10.0 metres averaging 11.5 grams per tonne (g/t) gold and 5.0 metres averaging 23.0 g/t gold. These results are significant given the depth of the known 3.3 million ounce resource previously delimited which is less than 1.5 kilometres.
The first hole east of the Bousquet Fault, hole R14404-07 also intercepted the Zone 2, a 3.0 metre intercept averaging 10.2 g/t gold, and narrow massive sulphide mineralization, a 2.0 metre intercept of 3.6 g/t gold, 5.0% zinc, within the Westwood horizon.
These higher grade intercepts and intercepts at depth may have significant impact on the strike length and have potential to substantially increase the total Westwood resource.
"These results are some of the best to date on the Westwood project. With the increasing gold grades at this depth we are very encouraged that Westwood could become a world class deposit," commented Joseph Conway, President & CEO. "The acceleration of this project in 2007 will continue in 2008 and the results to date continue to confirm that Westwood will be IAMGOLD's future in Northern Quebec."
Significant intersections from this drilling campaign can be found in Table 1 with a longitudinal section of Zone 2 shown in Figure 1. These holes represent 7,050 metres of drilling since September 1, 2007 for a total of 25,000 metres of drilling this year.
In January 2008, valuation drilling on Zone 2 will begin. This will involve the drilling of a 400 metre by 400 metre block or panel, to demonstrate the continuity of the deposit. In addition, work will continue on the southern exploration drift toward the mineralized zones, which will be reached in the first quarter of 2008. More information is shown on Figure 2.
CLICK HERE TO VIEW FIGURES 1 AND 2
Table 1: RECENT DRILLING RESULTS FROM WESTWOOD EXPLORATION PROGRAM
(Intersections where gold values are >35 g/t are highlighted)
hole # |
Intersection |
Zone 2 Extension |
North Corridor |
Westwood Horizon |
From |
To |
Core |
True |
Au |
Cu |
Zn |
Au |
Cu |
Zn |
Au |
Cu |
Zn |
(m) |
(m) |
length (m) |
width (m) |
g/t |
% |
% |
g/t |
% |
% |
g/t |
% |
% |
R14366-07** |
590.0 |
593.0 |
3.0 |
1.8 |
2.7 |
|
|
|
|
|
|
|
|
R14367-07** |
872.0 |
875.5 |
3.5 |
1.2 |
3.2 |
|
|
|
|
|
|
R14281B-07 |
1328.5 |
1331.5 |
3.0 |
0.7 |
4.6 |
|
|
|
|
|
|
|
|
1627.5 |
1628.0 |
0.5 |
0.2 |
30.1 |
|
|
|
|
|
|
|
|
1659.0 |
1669.0 |
10.0 |
3.3 |
11.5 |
|
|
|
|
|
|
|
|
incl. 1665.0 |
1666.0 |
1.0 |
0.3 |
52.7 |
|
|
|
|
|
|
|
|
incl. 1668.0 |
1669.0 |
1.0 |
0.3 |
29.1 |
|
|
|
|
|
|
|
|
1688.0 |
1693.0 |
5.0 |
1.7 |
23.0 |
|
|
|
|
|
|
|
|
incl. 1688.0 |
1689.0 |
1.0 |
0.3 |
26.1 |
|
|
|
|
|
|
|
|
incl. 1690 |
1691.0 |
1.0 |
0.3 |
61.1 |
|
|
|
|
|
|
|
|
R14392-07 |
635.0 |
653.0 |
18.0 |
13.2 |
|
|
|
|
|
|
0.5 |
0.1 |
0.5 |
Incl. 635.0 |
637.0 |
2.0 |
1.5 |
|
|
|
|
|
|
1.8 |
0.1 |
4.1 |
Incl. 637.0 |
641.0 |
4.0 |
2.9 |
|
|
|
|
|
|
0.2 |
0.0 |
0.4 |
Incl. 650.5 |
653.0 |
2.5 |
1.8 |
|
|
|
|
|
|
1.5 |
0.1 |
1.4 |
R14404-07 |
354.0 |
356.0 |
2.0 |
1.9 |
25.3 |
0.3 |
0.0 |
|
|
|
|
|
|
incl. 355.0 |
355.0 |
0.5 |
0.5 |
61.5 |
0.4 |
0.0 |
|
|
|
|
|
|
394.0 |
397.0 |
3.0 |
2.8 |
10.2 |
0.6 |
0.0 |
|
|
|
|
|
|
incl. 395.5 |
396.0 |
0.5 |
0.5 |
26.5 |
0.0 |
0.0 |
|
|
|
|
|
|
566.0 |
568.0 |
2.0 |
1.9 |
|
|
|
5.8 |
|
|
|
|
|
610.0 |
623.5 |
13.5 |
13.0 |
|
|
|
|
|
|
1.2 |
0.0 |
1.1 |
incl. 612.0 |
614.0 |
2.0 |
1.9 |
|
|
|
|
|
|
3.6 |
0.1 |
5.0 |
incl. 616.5 |
619.0 |
2.5 |
2.4 |
|
|
|
|
|
|
2.6 |
0.0 |
1.2 |
R14420-07 |
549.0 |
553.5 |
4.5 |
4.4 |
|
|
|
0.4 |
|
|
|
|
|
R14423-07 |
751.0 |
753.0 |
2.0 |
1.3 |
|
|
|
0.8 |
0.1 |
1.4 |
|
|
|
790.0 |
793.0 |
3.0 |
2.0 |
|
|
|
|
|
|
0.6 |
0.0 |
0.9 |
** Some intersections from these holes have been released previously.
Qualified Person / Quality Control Notes
The drilling program was carried out by IAMGOLD employees, under the supervision of Ms. Nicole Houle, Geologist - Doyon Division. Ms. Houle is a qualified person (as defined by National Instrument 43-101) with more than 20 years of experience in mine and exploration geology. IAMGOLD has established an Analytical Quality Assurance Program to control and assure the analytical quality of assays in its gold exploration. This program includes the systematic addition of blank samples, reject and pulp duplicates and internal material references (the "standards") to each batch of samples sent for analysis. Blank samples are used to check for possible contamination in laboratories, field duplicates allow the quantification of overall precision while standards determine the analytical accuracy. Samples were sent for assaying to Doyon's internal laboratory as a primary laboratory
. Samples were assayed by fire-assay according to industry standards.
Cautionary Note to U.S. Investors
This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of IAMGOLD, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from IAMGOLD's expectations are disclosed under the heading "Risk Factors" and elsewhere in IAMGOLD documents filed
from time-to-time with the Toronto Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities.
For further information please contact:
IAMGOLD Corporation:
Lisa Doddridge
Director, Investor Relations
Tel: (416) 360-4710
Toll-free: 1 888 IMG-9999
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Henri Perron: hperron@renmarkfinancial.com
T: (514) 939-3989
F: (514) 939-3717
www.renmarkfinancial.com
Please note:
This entire press release may be accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through Marketwire's website at www.marketwire.com. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.
SI VOUS D�SIREZ OBTENIR LA VERSION FRAN�AISE DE CE COMMUNIQU�, VEUILLEZ CONSULTER LE HTTP://WWW.IAMGOLD.COM/FR/ACCUEIL.HTML.
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IAMGOLD Corporation
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PRODUCER |
CODE : IMG.TO |
ISIN : CA4509131088 |
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IAMGOLD is a gold producing company based in Canada. IAMGOLD produces gold, diamonds, lead, niobium, rare earth, silver and zinc in Botswana, in Canada, in Ecuador, in Ghana, in Guyana, in Indonesia, in Mali, in Peru, in South Africa, in Suriname and in Tanzania, develops gold in Burkina Faso, in Ecuador and in French Guyana, and holds various exploration projects in Canada, in Ecuador, in Honduras, in Peru and in South Africa. Its main assets in production are OMAI MINE in Guyana, MOUSKA MINE, PORCUPINE, SLEEPING GIANT, DOYON, NIOBEC and GRAND DUC in Canada, YATELA and SADIOLA in Mali, MUPANE in Botswana, DAMANG PROJECT, TARKWA and TEBEREBIE in Ghana, ROSEBEL in Suriname, ZARUMA in Ecuador, ARDO MINE in South Africa, BUCKREEF in Tanzania, RAWAS GOLD PROJECT in Indonesia and TAMBORAQUE in Peru, its main assets in development are ESSAKANE in Burkina Faso, CAMP CAIMAN in French Guyana and QUIMSACOCHA PROJECT in Ecuador and its main exploration properties are BAMBADJI in Senegal, TEX-SOL, LESPERANCE, CREVIER and WESTWOOD in Canada, ALAMOUTALA (SADIOLA II) and SIRIBAYA in Mali, GILT EDGE MINE & ANCHOR HILL in Ecuador, PODEROSA MINE in Peru and VUELTAS DEL RIO / EL ZAPOTAL in Honduras. IAMGOLD is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.5 billions as of today (US$ 1.9 billions, € 1.7 billions). Its stock quote reached its highest recent level on April 28, 2006 at CA$ 9.98, and its lowest recent point on September 30, 2022 at CA$ 1.27. IAMGOLD has 464 620 000 shares outstanding. |