IAMGOLD Corp (IAG.N) Company Profile | Reuters.com
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Profile: IAMGOLD Corp (IAG.N)

IAG.N on New York Stock Exchange

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27 Jun 2016
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IAMGOLD Corporation (IAMGOLD), incorporated on March 1, 2011, is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe. The Company's gold mine segment is divided into four geographic segments: Suriname-Rosebel mine, Burkina Faso-Essakane mine, Canada - Doyon division, which includes the Mouska mine and the Westwood mine, and Joint ventures (Mali), including Sadiola mine and Yatela mine. The Company's non-gold segment includes Exploration and evaluation, and Corporate, which includes royalty interests located in Canada and investments in associates and joint ventures. The Company's mining activities in Canada include Doyon Division with Westwood Mine in Quebec and Cote Gold Project development project in Ontario. Its mining activities in Africa include Burkina Faso – Essakane mine and Mali - Sadiola Mine, and in South America include Suriname - Rosebel Mine.

The Company also conducts greenfields exploration program on selected projects in West Africa and the Americas, which are in early stage of exploration. In Mali, the Siribaya exploration project is operated by the Company under a 50:50 joint venture with Merrex Gold Inc. Exploration in Brazil is carried out from an exploration office in Belo Horizonte, Brazil. The Company has an option to joint venture agreement with Calibre Mining Corporation (Calibre) on the 176 square kilometer Eastern Borosi project located in the Golden Triangle of Northeast Nicaragua. The Company operates an exploration office in Val d'Or, Quebec to support several exploration programs in the Abitibi area and northern Quebec. The Company holds various claim holdings, which cover approximately seven kilometers of the Cadillac Break, and approximately 30 kilometers of the Destor-Porcupine Fault, approximately two major structural zones in the camp that host gold deposits in the Abitibi gold district. The Monster Lake project, located 50 kilometers southwest of Chibougamau, Quebec, is held under an earn-in option to joint venture agreement with TomaGold Corporation. The Company also maintains an interest in some joint ventures and royalty interests in Quebec, which include Val-d'Or and Rouyn Noranda camp properties explored under different agreements by Kinross, Alexandria Minerals and Adventure Gold and a large block of ground in the Rouyn-Noranda camp re-assessed by Falco Pacific Resources.

Doyon Division - Westwood Mine

The Westwood mine, which is owned by the Company, is located in the Bousquet Township approximately 40 kilometers east of Rouyn-Noranda, Quebec. The Westwood property is part of the Doyon division mining property, which consists of approximately one mining lease for the Westwood mine, over one mining lease for the past producing Doyon mine, approximately two mining leases for the past producing Mouska mine and over 70 map designated cells for a total surface area of over 2,874.74 hectares. Over three tailing surface leases are superimposed over part of the property. The Company holds title to all of those claims and leases at approximately 100%. The claims are situated in the Bousquet Township. The Westwood mine is part of the Doyon-Bousquet-LaRonde (DBL) mining camp. The Westwood Mine is located within the southern Abitibi sub-province, in Archean volcanic and intrusive rocks of the Bousquet Formation. The DBL mining camp hosts over two deposits, including the Doyon and LaRonde-Penna mines and the Gold-Copper-Zinc- Silver (Au-Cu-Zn-Ag) producing district in Quebec. The Westwood mine area is underlain by meta-volcanic rocks of the Blake River Group and partly by meta-sediments of the Cadillac and Kewagama Groups. Mineralization observed in the DBL camp is mainly associated with unit number 4 and 5 of the Bousquet Formation and to an extent with the Mooshla intrusive complex. These rocks host gold-sulphide vein-type mineralization at Zones 1, 2 and West (Mooshla Pluton) of the Doyon deposit and gold-rich VMS-type mineralization at the Bousquet and La Ronde deposits.

Approximately three distinct mineralized envelopes are identified in the Westwood mine area. The first two zones (Zone 2 Extension and North Corridor) consist of quartz-pyrite chalcopyrite sphalerite veins and veinlets within a matrix containing 2 to 10% of disseminated pyrite. The third envelope delineates the Warrenmac-Westwood mineralized corridor, which is located at the same stratigraphic contact on each side of the Bousquet Fault. Both consist of gold-rich pyrite-sphalerite stringers or concentrations with local massive sulphide bands (5 to 50 centimeters but locally approximately seven meters) and minor gold-bearing sulphide-rich quartz veins or veinlets, all enveloped by a disseminated pyrite-rich alteration halo. Its gold production is approximately 60,000 ounces.

Doyon Division - Cote Gold Project

The Cote Gold project consists of a collection of properties assembled through staking and various option agreements. The Cote Gold project area is located southwest of Gogama, Ontario, and extends from Esther Township in the west to Champagne Township in the east, a distance of approximately 60 kilometers. The properties cover an area of approximately 520 square kilometers. They are bisected by Highway 144 and are approximately 200 kilometers north of Sudbury via Highway 144 and approximately 120 kilometers southwest of Timmins via Highways 101 and 144. This area is in the Porcupine Mining Division. The Cote Gold project area comprises approximately 10 property groups, including Chester, Sheridan Option, Trelawney Mining & Exploration, Ontario 986813 Ltd., Sanatana Option, Trelawney Augen Acquisition Corp. East (Sanatana right of first refusal) and West, Huffman Lake Option, Falcon Gold Option, and Leliever properties. The Chester Property, within which the Cote Gold deposit is located, includes approximately 50 claims, over three mining licences of occupation and over four leases with a total area of approximately 1,701.32 hectares. The Company's Chester Property is underlain by calc-alkalic pyroclastic metavolcanic rocks of felsic to intermediate composition (Chester Group), felsic to intermediate, heterogeneous, granitoid intrusive rocks of the Chester Granitoid Complex and related migmatites. Approximately two main domains of mineralization have been interpreted at the Cote Gold project and are referred to as the Southwest (SW) domain and the Northeast (NE) domain. The Company's exploration on the Chester Property consists of drilling.

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 over seven exploration permits (the Essakane Exploration Permits) totaling approximately 1,260.6 square kilometers. The Company owns approximately 90% of the outstanding shares of IAMGOLD Essakane S.A., which is a Burkinabe company created for the purpose of developing and operating the Essakane mine. The Essakane mine area and specifically the area surrounding the Essakane main zone deposit (EMZ) deposit are characterized by relatively flat terrain sloping towards the Gorouol River to the north of the EMZ deposit. 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. The gold particles occur without sulfides in the weathered saprolite. The gold is free-milling in all associations. The highest concentration of quartz veins and gold mineralization occurs in the 50 to 70 meter thick main arenite unit, and spatially in the hinge zone and eastern fold limb of the host anticline. The Company's production in the Essakane mine is approximately 383,000 ounce. Approximately 35,600 meters of infill and resource expansion drilling are completed in conjunction with over 11,200 meters of exploration drilling by the Company's regional exploration group (outside the mine lease).

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, townsite and infrastructure at Sadiola, in Mali. The Sadiola mine area is located in the extreme west of the Republic of Mali, West Africa near the border of Senegal and Mali, approximately 70 kilometers south of Kayes, the regional capital. The Sadiola mine is owned by La Societe d'Exploitation des Mines d'Or de Sadiola S.A. (SEMOS), which 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 over 300 square kilometers. IAMGOLD has an indirect right to exploit gold, silver (and related substances) and platinoids on the lands on which the Sadiola mine is located through the Sadiola Mining Permit. SEMOS is the joint venture company that holds the Sadiola Mining Permit, owns the Sadiola mine and carries out exploration activities within the Sadiola Mining Permit. The oxide and sulfidic ores are exploited by open pit mining techniques. Ore extraction is conducted at the FN2 and FE2 satellite pits. Ore from the satellite is complemented by reclaimed ore from the marginal ore stockpile to feed the plant. The processing plant consists of over two identical parallel leach circuits, collectively capable of treating approximately 4.6 million tons of oxide ores per year. The Company holds interests in the Sadiola mine and its attributable production is approximately 69,000 ounces. The 48.6-square-kilometer area borders the Sadiola concession to the north and exploration consists of termite mound sampling and mapping.

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. Suriname is a former Dutch colony located on the northeastern coast of South America. The Rosebel mining concession covers over 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 over 99,633 hectares. The property is held by Rosebel Gold Mines N.V. (RGM), a subsidiary of IAMGOLD. 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 granite-gneiss terranes. Rosebel deposits are hosted by a volcano-sedimentary sequence of the Marowijne Supergroup and by the overlying detrital sedimentary sequence of the Rosebel Formation. Over five types of rocks occurring there are distinguishable, such as felsic to mafic volcanic rocks, deep-water sediments, shallow-water sediments, felsic intrusion and late diabase dikes. Approximately three domains of mineralization are found on the property, including North, Central and South. The northern domain includes J Zone and Koolhoven pits along a trend to the north of volcanic rocks and Pay CaroEast Pay Caro pits along a trend at the southern contact between volcanic rocks and detrital sedimentary rocks. The two trends follow a west northwest east southeast orientation. The central domain includes approximately one pit, Rosebel, which is striking east-west. The southern domain is made of over one structural trend roughly oriented east-west along, which the Mayo, Roma and Royal Hill pits are lying. Mineralization is hosted in both shear and tension veins, which are tightly associated in space and time. The North and the South domains show disparity in veining style; approximately one type of shear vein and over three types of tension veins are present in each domain. In the South domain, the shear veins are developed parallel to the main shear zone and are in general confined to the footwall of this main structure. The Company's production is approximately 287,000 ounces.

Company Address

IAMGOLD Corp

401 Bay St Suite 3200
TORONTO   ON   M5H 2Y4
P: +1416.3604710
F: +1416.3604750

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