Iamgold Continues to Hit High-grade at Monster Lake
Iamgold has reported assay results from the final 14 drill holes, totaling a little more than 5,400 meters (m), from a total of 25 diamond drill holes, totaling 10,657 m, completed during the 2016-2017 winter drilling campaign at its Monster Lake joint-venture project 50 kilometers (km) southwest of Chibougamau, Quebec, Canada. High-grade intercepts include 3.5 m grading 67.42 grams(g) per metric ton (mt) of gold, including 1.2 m grading 203.31 g/mt of gold, and 5 m grading 80.28 g/mt of gold, including 1.8 m grading 208.41 g/mt of gold.
Iamgold holds a 50% interest in the Monster Lake project. Pursuant to an earn-in option agreement with TomaGold, Iamgold can earn a further 25% undivided interest, for a total of 75%, should it spend a further C$10 million on the project within a seven-year period, beginning January 1, 2015.