Iamgold has budgeted $43 million for greenfields exploration during 2011, up from $37.6 million spent in 2010. The company’ greenfields exploration portfolio includes 28 projects in nine countries in West Africa and the Americas. Approximately 118,000 m of drilling is planned across all Iamgold exploration sites during 2011, with an additional 46,425 m of air core drilling budgeted for the Essakane mine property in Burkina Faso. Projects of special interest include the Kalana and Siribaya projects in Mali.
At Kalana, in a joint venture with Avnel Gold Mining, Iamgold has plans for 34,500 m of combined diamond and reverse circulation drilling to develop a resource estimate that incorporates known high-grade veins with the potential bulk mineable material in the surrounding mineralized envelopes. Satellite zones, such as Kalanako, offer significant upside potential and will be an important part of the 2011 exploration program.
At Siribaya, exploration will include 17,000 m of reverse circulation drilling in a program designed to test a mineralized corridor on wide-spaced, 500-m sections for more than 3 km beyond the limits of existing drill coverage. A sub-parallel mineralized zone, Bambadinka, is a priority satellite target located 2 km west of the Siribaya trend that has been delineated for 4 km in a north-south direction using mechanized auger drilling.
In the Americas, Iamgold will test more than 12 grassroots projects in Peru, Brazil and the Canadian province of Québec.