The funds will be used to support a mini-pilot to confirm certain process design criteria and improvements to the NICO project metallurgical processes in Canada's Northwest Territories. .

Under the terms of the current JV agreement, IAMGOLD has the option to acquire an additional 5% interest for 80% by delivering a feasibility study on the Nelligan project.

Hole iRH23-42A returned 116.3 metres grading 10.1% zinc and 0.3 gram gold per tonne.

The deal could value Blyvooruitzicht Gold Mining Co. at as much as $425 million.

Evolution agreed to buy the stake for $400 million in cash and a copper price-linked contingent consideration of up to $75 million.

The latest attack at Poderosa has highlighted a growing risk for miners in the Andean nation.

The net proceeds will be used to fund its Magino gold mine in Ontario and Florida Canyon gold mine in Nevada.

SPDR Gold Shares ETF posted net inflows of over $1 billion in November.