Engineering & Mining Journal

AUG 2017

Engineering and Mining Journal - Whether the market is copper, gold, nickel, iron ore, lead/zinc, PGM, diamonds or other commodities, E&MJ takes the lead in projecting trends, following development and reporting on the most efficient operating pr

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Page 19 of 99

REGIONAL NEWS - EXPLORATION ROUNDUP 18 E&MJ • AUGUST 2017 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 Mon- ster Lake joint-venture project 50 kilo- meters (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% undivid- ed interest, for a total of 75%, should it spend a further C$10 million on the proj- ect within a seven-year period, beginning January 1, 2015. As of early July of this year, Iam- gold was planning a near-term, 1,600- m diamond drilling program to test the gold-bearing structures at Monster Lake from areas accessible in the summer sea- son. The results will be incorporated into the deposit model and may lead to the completion of an initial mineral resource estimate by yearend. Further drilling to evaluate the potential of newly discov- ered mineralized areas is scheduled for the coming winter. Craig MacDougall, Iamgold's senior vice president, exploration, said, "With all assay results now in hand from our winter cam- paign, we are working to revise the deposit model to better understand the resource potential of the Megane Zone. Importantly, the drilling program has continued to iden- tify new areas of gold mineralization along the main shear and associated with paral- lel structures, again reinforcing our view of the favorable potential for the discovery of additional mineralized zones." ( Exploration Briefs Leagold Mining has reported drilling results for the first 20 holes of its infill and step-out exploration program at the Bermejal Underground deposit at the Los Filos gold mine in Guerrero state, Mexi- co. Highlights from the program include 7.2 g/mt over 18.8 m, 6.8 g/mt over 13.3 m, and 26.3 g/mt over 2 m (all capped grades and true widths). More than 12,900 m of the 56,000- m Bermejal Underground program have been completed. A total of eight diamond drill rigs and two reverse circulation drill rigs are on-site. The program will be com- pleted within 2017, and these drill-hole results will be incorporated in an updated resource estimate. Leagold CEO Neil Woodyer said, "These drilling results show the consisten- cy of mineralization along the contacts of the Bermejal intrusive and sill. Infill holes are tightening up the drill-hole spacing and will enable an upgrade of the resource classification. These holes are also filling in gaps in the resource model, which, when combined with the step-out holes, will increase the overall mineral resource. "To date, 18 of the 20 holes drilled have intercepted high-grade mineraliza- tion. This high success rate also indicates the potential for both the consistency and expansion of the deposit." ( Barkerville Gold Mines has announced additional drilling results from its ongo- ing, 130,000-m Phase II Island Moun- tain exploration drilling program on its flagship Cariboo gold project in central British Columbia, Canada. The company is currently exploring and delineating the Valley and Shaft zones of the project with seven drill rigs, while an eighth drill rig is conducting exploratory drilling on Barker- ville Mountain. Ongoing drilling in the Valley zone con- tinues to corroborate veining corridors as demonstrated by drillhole CM-17-057, which intersected a broad network of vein- ing averaging 17.3 g/mt of gold over 7.5 m at vertical depth of 170 m below sur- face. At the same elevation, 130 m along vein strike to the southwest, drillhole CM-17-048 delineated additional veining grading 12.27 g/mt of gold over 4.55 m. In a previously unexplored portion of the Valley zone, another new veining oc- currence averaging 11.33 g/mt gold over 3 m was discovered at a vertical depth of 140 m below surface. Because of the wide hole spacings and scarcity of histori- cal drilling in these areas, all occurrences are open for expansion. "The high-grade vein corridors in the Valley Zone continue to be identified and will require infill drilling later in the year," Barkerville President and CEO Chris Lod- der said. "Regional exploration in the larger land package has been reinitiated and will continue until late September, with the objective of advancing future drill targets." ( has discovered a new zone of silver mineralization at Cerro Blanco West on its 100% owned Nueva Esperanza precious metals project in the Maricunga district of Atacama province, Chile. Eight reverse circulation holes to- taling 1,226 m were completed on the new target prior to drilling being halted by the early onset of winter conditions. Inter- cepts included 60 m grading 67.57 g/mt of silver from 40 m to 100 m downhole and 50 m grading 84.04 g/mt of silver from 62 m to 112 m downhole. Drilling targeted the northern part of a 0.4 km by 1.4 km, north-striking geo- physical anomaly defined by a 2017 IP and resistivity survey. All drill holes in- tersected similar silver mineralization, with sectional interpretation indicating a broadly sub-horizontal, oxidized, man- to-like zone generally ranging from 20 m to 60 m in thickness. Mineralization remains open to the north, west, and south while weaker silver intersections in some of the more eastern holes suggest possible local attenuation of mineralization toward the east. Excel - lent potential is considered to remain over some 400 m of untested strike of the resistive corridor immediately south of the current drilling. Nueva Esperanza is a feasibility-stage development project with a current re- source base of approximately 1.9 million gold-equivalent oz. (

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