Troilus Gold brings potential funding from ECAs to $1.3 billion
The company has signed an additional LOI with Export Development Canada worth $300 million.
Iamgold (TSX: IMG; NYSE: IAG) has shared highlights of this year’s drill program at its Nelligan gold project 45 km south of the Chapais-Chibougamau region of Quebec. The highest grade encountered was 29.4 g/t gold over 1 metre in the Renard zone.
The 2024 drill program at Nelligan extended the deposit eastward below 500 metre vertical depth and confirmed the increasing width of the Footwall zone forming the north part of the mineralized sequence, the company said.
Infill and/or expansion drilling is planned depending on the updated resource estimate. Metallurgical tests and other engineering studies are also planned.
“The results today from Nelligan demonstrate the potential for expansion of what is a large-scale asset located in a great mining jurisdiction of Canada. Our current priority continues to be the safe and stable ramp up and growth of Côté Gold,” said Iamgold CEO Renaud Adams.
“While we look forward to the updated mineral resource estimate for Nelligan early next year to build off the current estimate of approximately 2 million indicated gold ounces and 4 million ounces of inferred mineral resources.”
Iamgold issued at the same time an updated resource estimate for its Monster Lake gold project, located 15 km north of Nelligan. The indicated resource is 239,000 tonnes averaging 11.0 g/t gold for 84,200 contained oz. The inferred resource is 1.1 million tonnes grading 14.4 g/t gold for 488,500 contained oz.
The numbers represent the upgrade of 84,200 oz. into indicated from the inferred designation. The inferred resource was also upsized by 32%.
