EXPLORATION & DEVELOPMENT

Drilling increases IAMGOLD's confidence in Saramacca

Hits 34.5m grading 4.5g/t in an expansion drill hole

Staff reporter

This article is 8 years old. Images might not display.

The company kicked off a 22,000m programme after announcing a maiden resource in September of 1.02 million ounces indicated and 518,000oz inferred.

Among the latest highlights, the company intercepted 34.5m grading 4.5g/t in an expansion drill hole and 39m at 3.47g/t in an infill hole.

Exploration senior vice president Craig MacDougall said the programme was not only increasing confidence in the existing resources, but was extending mineralisation below the initial resource pit shell which was expected to have a positive impact on future resource estimates.

IAMGOLD expects to have a reserve out in 2018 and is targeting production in 2019, with preliminary engineering work, field work and an environmental and social impact study underway.

The company's attributable gold production was up 3% in the third quarter compared with the previous period at 217,000oz, with all-in sustaining costs 7% lower at US$969/oz sold.

Rosebel contributed almost a third of total production with 75,000oz for the quarter, a slight increase on the previous corresponding period.

IAMGOLD is maintaining its production guidance of 845,000-885,000oz for 2017 and has lowered the top end of its AISC guidance range by $40 to $1,000-$1,040/oz.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.

editions

Mining IQ Risk Analytics

Risk Analytics offers interactive access to World Risk Insight data, allowing you to customise risk views, benchmark jurisdictions, explore data behind scores and read expert commentary to guide your decision-making.

editions

Project Pipeline Index 2025

View our 50 top mining projects, handpicked using a unique, objective selection process from an expanded database of 600+ global assets.