Iamgold reports maiden resource at second West Africa greenfield discovery in 3 yrs

TORONTO (miningweekly.com) – Canadian gold miner Iamgold has reported a National Instrument 43-101-compliant maiden resource for the Diakha deposit, located on the Siribaya joint venture (JV) project, in western Mali, West Africa.

The Siribaya exploration project is operated by Iamgold under a 50/50 JV with Merrex Gold.

Iamgold on Tuesday announced that the resource estimate, which included resources estimated for previously known zones at Zone 1B and Taya Ko (formerly Zone 1A), along the Siribaya trend, as well as the new Diakha deposit, comprised indicated resources totalling 2.1-million tonnes averaging 1.90 g/t gold for 129 000 oz and inferred resources of 19.8-million tonnes averaging 1.71 g/t gold for 1.1-million ounces. 

The company noted that a significant portion of the estimate was derived from the newly discovered Diakha deposit, which was open in all directions and had significant potential for expansion.

"The Diakha discovery is the second greenfield discovery made by the Iamgold exploration team in West Africa in the last three years, including the Malikoundi deposit of the Boto gold project, located in neighbouring Senegal.

“Despite reduced budgets resulting from a sustained industrywide downturn, the exploration group has successfully advanced Diakha – from discovery to an initial resource estimate in just two years. We believe that there remains significant potential to expand the current resource base. This will be an objective of future exploration programmes,” said Iamgold senior VP for exploration Craig MacDougall in a press release.

Iamgold has a significant operating portfolio in West Africa, including the Essakane gold mine in Burkina Faso, and the Yatela and Sadiola gold mines in Mali. Its other operations included the Westwood mine, in Canada, and the Rosebel mine, in Suriname.