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The latest drill holes released were from the area between Gosselin and Cote, including highlights such as 81m grading 1.34 grams per tonne. They are said to increasingly show the connection between the two areas. The combined Gosselin-Young-Shannon zone has now been traced over a strike length of 1km and 450m, and to a vertical depth of 450m.
"These additional results continue to highlight the importance of this new discovery and we are now starting to demonstrate the connection of the Gosselin and Young Shannon Zones outlining mineralisation over a sizable area," said IAMGOLD VP exploration and growth, Craig MacDougall.
Construction of the US$1.3 billion openpit Cote project commenced in July 2020. It is expected to produce an average of 367,000oz a year for 18 years at an average all-in sustaining cost of $771/oz from the second half of 2023.
Gosselin is part of the Cote joint venture between IAMGOLD (70%) and Sumitomo Metal Mining (30%).
Shares in IAMGOLD are trading at C$3.88, valuing the company at $1.8 billion.
