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Profile: IAMGOLD Corp (IAG.N)

IAG.N on New York Stock Exchange

24 May 2017
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IAMGOLD Corporation (IAMGOLD), incorporated on March 1, 2011, is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents. The Company's gold mine segment is divided into geographic segments, such as Burkina Faso-Essakane mine; Suriname-Rosebel mine; Canada-Doyon division, which includes the Westwood mine and the Doyon mine, and Joint ventures (Mali)-Sadiola mine (41%) and Yatela mine (40%). The Company's non-gold segments are divided into Exploration and evaluation, and Corporate, which includes royalty interests located in Canada and investments in associates and joint ventures. In Canada, the Company owns the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. Its Mining Activities-International include Africa: Burkina Faso-Essakane mine, Africa: Mali-Sadiola Mine, South America: Suriname-Rosebel Mine. Its exploration efforts remain focused in West Africa, select countries of South America, including Suriname, Brazil, Peru, Columbia, Nicaragua, and Canada. Its Near Mine and Brownfield Exploration and Development Projects include Essakane Mine, Burkina Faso; Rosebel Mine, Suriname; Westwood Mine, Quebec, and Cote Gold Project, Ontario. Its Greenfield Exploration and Evaluation Projects include Africa-Senegal, Africa-Mali, South America-Brazil, South America-Nicaragua and North America-Quebec, Canada.

Doyon Division-Westwood Mine

The Westwood mine covers an area of two square kilometers (196.2 hectares (Ha)) in the municipality of Preissac, in Bousquet Township, approximately 40 kilometers east of the town of Rouyn-Noranda, in the province of Quebec, Canada. The Westwood mine is located entirely within the limits of the Doyon division mining property, which covers an area of approximately 30 square kilometers (2,875 ha). The Doyon division mining property consists of, among others, one mining lease for the Westwood mine. Three tailing surface leases (P.R. 999780, P.R. 999794 and P.R. 999803) are superimposed over parts of the property. The Westwood mine is part of the Doyon-Bousquet-LaRonde (DBL) mining camp, which is located within the Southern Volcanic Zone of the Abitibi subprovince. The Westwood mine is located within the limits of the Doyon division mining property, which covers the Blake River Group (BRG) metavolcanic rocks and a part of the metasedimentary Cadillac (CG) and Kewagama Groups, which are localized respectively to the south and north of the BRG. The Westwood deposit is hosted in a volcano-plutonic sequence composed of felsic hypabyssal volcanic rocks (Zone 2 corridor), mafic to intermediate volcanic rocks (North Corridor) and intermediate to felsic volcanic rocks (Westwood Corridor) marked by a chlorite-biotite-carbonate-garnet-amphibole distal alteration and a pervasive quartz-muscovite-sericite-pyrite proximal alteration.

The Westwood deposit mineralization consists of gold-sulfide vein-type mineralization similar to zones 1 and 2 of the former Doyon mine, which is located two kilometers west (Zone 2 ore zones), as well as gold-rich volcanogenic massive sulfide type semi-massive to massive sulfide lenses, veins and disseminations (Westwood and North corridors ore zones) similar to the Bousquet 1, Bousquet 2-Dumagami and LaRonde Penna deposits in the eastern part of the mining camp. All mineralized zones are sub-parallel to parallel to the stratigraphy (sub-vertical to steeply south dipping). Five deposit styles are recognized in this camp, including gold-rich base metal massive sulfide lenses (LaRonde Penna, Bousquet 2-Dumagami and Westwood Corridor); gold-rich vein stockworks and sulfide disseminations (Bousquet 1, North and Westwood corridors, and Ellison); intrusion-related gold (Au)- copper (Cu) sulfide-rich vein systems (Doyon, Mooshla A, Zone 2); shear-hosted Au-Cu-sulfide-rich veins (Mouska and MicMac), and syn-deformation auriferous quartz-pyrite-tourmaline veins (Mooshla B).

Cote Gold Project

The Cote Gold project consists of a collection of properties assembled through staking and various option agreements. The properties, which cover an area of approximately 510 square kilometers, are located approximately 170 kilometers north of Sudbury and approximately 120 kilometers southwest of Timmins. This area is in the Porcupine Mining Division. The project area is in the Swayze greenstone belt in the southwestern extension of the Abitibi greenstone belt of the Superior Province. The Cote Gold deposit is a new Archean low-grade, high-tonnage gold (copper) discovery. It is described as a synvolcanic intrusion related and stockwork-disseminated gold deposit, and appears to correspond to the porphyry style. The South Swayze land holdings are subdivided into three geographic areas for exploration purposes, namely the Chester Area (central), South Swayze West (western area), and South Swayze East (eastern area).

Africa: Burkina Faso-Essakane mine

The Essakane mine straddles the boundary of the Oudalan and Seno provinces in the Sahel region of Burkina Faso and is approximately 330 kilometers northeast of the capital, Ouagadougou. It is situated approximately 40 kilometers east of the nearest large town and the provincial capital of Oudalan, Gorom-Gorom, and near the village of Falagountou to the east. All the Essakane Exploration Permits and the Essakane Mining Permit are located on contiguous ground. The Essakane main zone deposit (the EMZ deposit) and the Falagountou resource (together, the Essakane Mining Permit) are located within a 100.2-square-kilometer mining exploitation permit area. The permit area is surrounded by seven exploration permits (the Essakane Exploration Permits) totaling approximately 1,261 square kilometers. The Essakane mine deposit is an orogenic gold deposit characterized by quartz-carbonate stockwork vein arrays and is hosted by folded turbidite succession of arenite and argillite. Gold occurs as free particles within the veins and is also intergrown with arsenopyrite +/- tourmaline on vein margins or in the host rocks.

Africa: Mali-Sadiola Mine

The Sadiola mine consists of an open pit mining operation exploiting the Sadiola gold deposit, associated carbon-in-pulp (CIP) processing plant, proposed updated plant, townsite and infrastructure at Sadiola, in the Republic of Mali, West Africa. The Sadiola mine area is located in the western part of Mali near the border with Senegal, approximately 80 kilometers south of Kayes, the regional capital and approximately 440 kilometers northwest of the capital city of Bamako. The Sadiola mine is mined by La Societe d'Exploitation des Mines d'Or de Sadiola S.A. (SEMOS), a joint venture company that holds the mining rights for gold, silver (and related substances) and platinoids for the mining permit area in Mali (the Sadiola Mining Permit) in which the Sadiola mine is located. The Sadiola Mining Permit covers an area of approximately 300 square kilometers. Sadiola is a brittle-ductile shear zone-hosted deposit related to the interaction of a north-northeast striking fault array with a single major structural discontinuity, the north-south striking Sadiola Fracture Zone (SFZ).

South America: Suriname-Rosebel Mine

The Rosebel property is located in Suriname, South America, approximately 80 kilometers south of the city of Paramaribo, the capital of Suriname. The Rosebel mining concession covers approximately 17,000 hectares in the District of Brokopondo, between the Suriname River to the East and the Saramacca River to the West, and is surrounded by exploration concessions covering an additional surface area of approximately 99,630 hectares. The Rosebel concession lies within the Paleoproterozoic Guiana Shield. The Suriname portion of the shield is characterized by discrete corridors of low grade metamorphic rocks (greenstone belts) separated by large granite-gneiss terrains. Rosebel deposits are hosted by a volcano-sedimentary sequence of the Marowijne Supergroup and by the overlying detrital sedimentary sequence of the Rosebel formation. Three domains of mineralization are found on the property: North, Central and South. The northern domain includes J Zone and Koolhoven pits along a trend to the north of volcanic rocks and the West Pay CaroPay Caro-East Pay Caro pits along a trend at the southern contact between volcanic rocks and detrital sedimentary rocks. The central domain only includes one pit, Rosebel, which is striking east-west. The southern domain is made of one structural trend roughly oriented east-west along which the Mayo, Roma and Royal Hill pits are lying.

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401 Bay St Suite 3200,
PO Box 153
P: +1416.3604710
F: +1416.3604750

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