IAMGOLD Corporation

Published : May 06th, 2008

Reports Continued Success at 3.3 Million Ounce Westwood Project

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IAMGOLD Reports Continued Success at 3.3 Million Ounce Westwood Project

Toronto, Ontario, May 6, 2008 - IAMGOLD Corporation (TSX: IMG / NYSE: IAG) ("IAMGOLD" or "the Company") is pleased to announce exploration results from the ongoing program at the Company's Westwood project.  This advanced exploration project covers an area of 3 km long by 2.5 km depth and is located on strike east of the Company's Doyon Mine in the Abitibi region of Northern Quebec.

The intercepts encountered in this deposit are related to multiple veins and sulphide concentrations, encountered in three different mineralized corridors; Westwood corridor, North corridor and the Zone 2 extension, which are parallel and spaced about 100 to 150 metres apart.   Results are presented in Table 1 with additional information provided in the longitudinal sections shown in Figures 1 - 5 (CLICK HERE TO VIEW FIGURES)

The most significant intercepts from this most recent program include:

  • 848.1 grams /tonne Au (g/t gold) over 1.0m and 372.6 g/t gold over 1.0m in hole R14436-08
  • 54.4 g /t gold over 1.0m in hole R14429-08 
  • 28.7 g/t gold over 2.0m in hole R14367-07
  • 1.0 g/t gold and 5.6% Zinc over 5.6m in hole R14436-08 associated with a two metre massive sulphide band. 

"Significant progress has been made at Westwood over the past year including the conservative scoping level study which indicated positive economics for the project.  The potential of this project is growing exponentially as results continue to be extremely positive," stated Joseph Conway, President  & CEO.  "We will accelerate Westwood as quickly as possible, as it will be one of the key projects to achieve our goal of doubling production in the next five years."

Since November 2007, the drilling focus at the Westwood project has been on mineralization at depth and massive sulphide mineralization on the eastern side of Bousquet fault, as well as geotechnical characterization.   Other advances at Westwood in 2007 include:

  • inferred resources estimated at more than 3Moz of gold (Press Release 23 - September 2007);
  • massive sulphide mineralization was identified in the Westwood Corridor, east side of Bousquet Fault - hole R14404-07 3.6 g/t gold and 5% zinc over 2 metres  (Press Release 31 - December 2007);
  • Deep mineralization intercepted in the Zone 2 Corridor - hole R14281B-07 averaging 11.5 g/t gold over 10m and 23.0 g/t gold over 5m, confirming presence of gold at 2.3 km vertical depth on the Western side of the Bousquet Fault, (Press Release 31 - December  2007);

Table 1: Recent Drilling Results from Westwood Exploration Program (Since November 2007)
*results shaded indicate additional assays completed to holes previously reported.
**shaded holes indicate new holes.

hole #

Intersection

Zone 2 Extension

North Corridor

Westwood Horizon

From

(m)

to (m)

Core

length (m)

True

width (m)

Au

Cu

Zn

Au

Cu

Zn

Au

Cu

Zn

g/t

%

%

g/t

%

%

g/t

%

%

 

 

R14242C-07

 

 

1586.0

1599.5

13.5

7.2

 

 

 

3.2

-

 

 

 

 

incl. 1589.0

1590.0

1.0

0.5

 

 

 

26.0

0.2

0.0

 

 

 

1681.0

1701.1

20.1

12.1

 

 

 

 

 

 

0.5

0.1

0.1

incl. 1689.0

1690.0

1.0

0.6

 

 

 

 

 

 

3.6

0.4

0.1

1716.0

1728.0

12.0

7.2

 

 

 

 

 

 

0.3

0.1

0.1

R14392-07

519.0

520.0

1.0

0.7

1.5

-

-

 

 

 

 

 

 

R14420-07

428.0

429.0

1.0

1.0

2.5

0.2

0.0

 

 

 

 

 

 

549.0

553.5

4.5

4.4

 

 

 

0.4

-

-

 

 

 

567.0

570.0

3.0

2.9

 

 

 

3.4

0.0

0.0

 

 

 

614.0

615.0

1.0

1.0

 

 

 

 

 

 

0.2

0.0

0.3

R14423-07

 

 

579.0

582.0

3.0

1.8

2.2

-

-

 

 

 

 

 

 

736.0

737.0

1.0

0.5

 

 

 

6.1

-

-

 

 

 

751.0

753.0

2.0

1.3

 

 

 

 

 

 

0.8

0.1

1.4

R14426-07

399.5

401.5

2.0

1.9

1.1

-

-

 

 

 

 

 

 

487.0

488.0

1.0

0.9

 

 

 

3.1

0.1

0.1

 

 

 

600.5

603.5

3.0

2.8

 

 

 

 

 

 

4.6

0.1

0.0

606.5

611.0

4.5

4.3

 

 

 

 

 

 

1.8

0.1

0.0

R14427-07

625.5

627.0

1.5

0.8

2.3

-

-

 

 

 

 

 

 

798.0

799.0

1.0

0.5

3.4

-

-

 

 

 

 

 

 

R14427A-07

625.5

627.0

1.5

0.8

13.2

0.0

0.1

 

 

 

 

 

 

incl. 625.5

626.0

0.5

0.3

31.4

0.0

0.2

 

 

 

 

 

 

804.5

806.0

1.5

0.7

5.8

-

-

 

 

 

 

 

 

917.0

919.0

2.0

1.0

 

 

 

2.3

0.1

0.0

 

 

 

R14429-07

385.5

386.5

1.0

0.9

22.0

0.0

0.0

 

 

 

 

 

 

390.5

391.5

1.0

0.9

54.4

0.0

0.0

 

 

 

 

 

 

544.5

545.5

1.0

0.9

 

 

 

5.9

0.0

0.0

 

 

 

552.5

553.5

1.0

0.9

 

 

 

4.0

-

-

 

 

 

564.5

565.5

1.0

0.9

 

 

 

9.6

-

-

 

 

 

599.0

600.0

1.0

0.9

 

 

 

 

 

 

5.3

0.2

0.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intersection

 

 

 

 

 

 

 

Zone 2 Extension

 

 

 

 

North Corridor

 

 

 

 

Westwood Horizon

hole #

From (m)

To (m)

Core Length (m)

True width (m)

Au

g/t

Cu

%

Zn

%

Au

g/t

Cu

%

Zn

%

Au

g/t

Cu

%

Zn

%

R14436-07

474.5

475.5

1.0

1.0

 

 

 

372.6

0.1

0.2

 

 

 

520.0

521.0

1.0

1.0

 

 

 

17.9

0.0

0.1

 

 

 

521.0

522.0

1.0

1.0

 

 

 

848.1

0.0

1.6

 

 

 

591.5

595.5

4.0

4.0

 

 

 

 

 

 

1.2

0.0

0.8

622.0

627.6

5.6

5.6

 

 

 

 

 

 

1.0

0.3

5.6

incl. 625.3

627.6

2.3

2.3

 

 

 

 

 

 

0.9

0.5

11.4

R14442-08

529.5

530.5

1.0

1.0

 

 

 

8.8

0.0

0.2

 

 

 

567.5

581.0

13.5

13.5

 

 

 

 

 

 

0.5

0.0

0.6

594.0

607.3

13.3

13.3

 

 

 

 

 

 

0.7

0.0

0.4

R14445-08

365.5

367.5

2.0

2.0

4.1

-

-

 

 

 

 

 

 

R14367-07

1310.5

1311.5

1.0

0.4

 

 

 

27.5

-

-

 

 

 

1392.0

1394.0

2.0

1.0

 

 

 

 

 

 

0.2

0.1

0.0

R14456B-08

526.5

527.5

1.0

0.9

 

 

 

2.6

-

-

 

 

 

562.0

564.0

2.0

1.9

 

 

 

3.4

-

-

 

 

 

612.0

616.5

4.5

4.4

 

 

 

 

 

 

1.1

-

1.1

622.0

627.5

5.5

5.3