Iamgold to explore further at Senegal earn-in project
NYSE-listed Iamgold has indicated that it will shortly start a third year of exploration at the Senala project, in Senegal, which it has been jointly exploring with Aim-listed Oriole Resources.
Iamgold has the option to spend up to $8-million to earn a 70% interest in the project.
The partners recently obtained a new licence for the project, which provides security of tenure for a further ten years.
Since signing the option agreement in March 2018, Iamgold has focused on the Madina Bafé prospect in the southern area of Senala, where some results achieved to date include 9.6 m grading 16.08 g/t gold from 15 m; 15 m grading 6.1 g/t gold from 14 m; and 8 m grading 2.56 g/t gold from 76 m.
This area lies within 10 km of Iamgold’s 2.5-million-ounce Boto gold project, on which a construction decision will be made before June.
Iamgold in November last year completed a 2019/20 work programme, involving air core drilling at the Saroudia prospect, which is immediately north of Madina Bafé. However, the 3 158 m of drilling confirmed no additional trends and no further work was planned for this prospect.
The company confirmed it would now start drilling at the Senala project’s Faré prospect.
Iamgold believes this prospect has the potential to host a standalone deposit.
Some previous drilling at Faré delivered intersections of 96 m grading 1.51 g/t gold and 7 m grading 86.39 g/t gold.
The company will initially conduct a 10 000 m air core drilling programme, followed by a reverse circulation drilling programme.
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