IAMGOLD announces initial resource estimate at Gosselin deposit in Ontario

IAMGOLD Corp has announced an initial resource estimate for the Gosselin deposit located just Northeast of its Côté gold project in Ontario, Canada.

In a Q3 update on construction at its Côté project, the company also revealed a 124.5 million tonnes indicated resource for Gosselin averaging 0.84 g/t gold for 3.35 million contained ounces. The deposit has only been drilled to about half the depth of the Côté deposit, and it remains open at depth and along strike.

Adding the Gosselin deposit to the Côté deposit will result in a 33% increase in contained gold in the measured and indicated category and a 45% increase in the inferred category, IAMGOLD said.

The Côté deposit includes 365.5 million measured and indicated tonnes grading 0.87 g/t gold for 10.2 million contained ounces. The overall project is a 70:30 joint venture between IAMGOLD and Sumitomo Metal Mining Co.

IAMGOLD said the Côté project is 36% complete and is on track for commercial production in the second half of 2023. The mine will average 489,000 ounces in annual production in years one through five, with an overall average of 367,000 ounces over the 18 years of planned mine life. All-in sustaining costs are expected to be US$802 per ounce.