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IAMGOLD working to develop Côté geologic model

Summer field program underway at Gogama-area property
IAMGOLD Cote Project
Exploration work at IAMGOLD’s Côté Gold property is ongoing, with the goal of gathering enough information for a geologic model. (Supplied photo)

IAMGOLD is working to complete a geologic model at its Côté Gold Project near Gogama.

On July 30, the company reported initial results from an ongoing drill program at the property’s new Gosselin Zone, where 14 drill holes were completed for 4,848 metres drilled.

"The results from the 2019 exploration program continue to confirm the potential of the new Gosselin discovery,” Craig MacDougall, IAMGOLD’s senior vice-president of exploration, said in a news release.

“We are particularly encouraged by the continued intersection of wide intervals of intrusion-hosted mineralization, now confirmed to extend to near surface as well as along strike to the southwest towards the Young-Shannon zone.

“These results will be used to help design future drilling campaigns aimed at further evaluating the resource potential of this new discovery."

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IAMGOLD said it would incorporate the drill results and the following metals analysis into a geologic model for the Gosselin and Young-Shannon zones.

The company also said mapping and surface channel sampling are underway, and eventually it will use the results of its efforts to develop an initial resource estimate for the property.

Located 125 kilometres southwest of Timmins and 175 kilometres north of Sudbury, the Côté Gold Project is a joint venture with Sumimoto Metal Mining Co. Ltd.

IAMGOLD has continued exploration work at the property, despite an announcement last January it had put on hold plans for a $1-billion open-pit mine at the Côté Lake property, pending “improved market conditions.”

In addition to its exploration properties, the company owns and operates gold mines in southern Québec, Suriname, Burkina Faso, and Mali.