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IAMGOLD Reports High Grade Drill Intersections from Drill Program at the Karita Gold Project in Guinea, West Africa

Toronto, Ontario–(Newsfile Corp. – July 6, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") is pleased to announce assay…

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Toronto, Ontario–(Newsfile Corp. – July 6, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company“) is pleased to announce assay results from its 2022 delineation diamond drilling program on its wholly-owned Karita Gold project in north-eastern Guinea. The project is located along the prolific Senegal-Mali Shear Zone in West Africa, between the Company’s Boto Gold Project in Senegal eight (8) kilometres to the north, and its Diakha-Siribaya Gold project in Mali three (3) kilometres to the south.

Highlights include (refer to Table 1 for detailed interval results):

  • 34.0 metres (“m”) at 5.81 grams per tonne gold (“g/t Au”) in drill hole KDD22-006 from 67.0 m
      • including 5.0 m at 33.31 g/t Au from 70.0 m,
    • – followed by a separate interval of 14.15 m at 6.46 g/t Au from 197.9 m
      • including 3.0 m at 28.73 g/t Au from 203 m;
  • 50.0 m at 2.85 g/t Au in drill hole KDD22-003 from 21.0 m
      • including 7.0 m at 13.47 g/t Au from 36.0 m;
  • 25.0 m at 5.32 g/t Au in drill hole KDD22-033 from 26.0 m
      • including 14.0 m at 9.10 g/t Au from 26.0 m,
    • – followed by a separate interval of 32.0 m at 1.66 g/t Au from 51.0 m
      • including 2.0 m at 13.14 g/t Au from 68.0 m,
    • – followed by a separate interval of 21.0 m at 1.9 g/t Au from 156.0 m;
  • 37.0 m at 3.50 g/t Au in drill hole KDD22-007 from 98.0 m
      • including 6.0 m at 7.46 g/t Au from 116.0 m;
  • 22.0 m at 5.70 g/t Au in drill hole KDD22-028 from 11.0 m
      • including 3.0 m at 31.13 g/t Au from 19.0 m;
  • 12.0 m at 9.49 g/t Au in drill hole KDD22-016 from 129.0 m
      • including 6.0 m at 17.95 g/t Au from 129.0 m;
  • 21.0 m at 5.33 g/t Au in drill hole KDD22-015 from 25.0 m
      • including 6.0 m at 7.42 g/t Au from 25.0 m
      • including 7.0 m at 9.11 g/t Au from 39.0 m;
  • 21.0 m at 2.71 g/t Au in drill hole KDD22-013 from 73.0 m
      • including 7.0 m at 5.15 g/t Au from 80.0 m,
    • – followed by a separate interval of 20.0 m at 5.33 g/t Au from 104.0 m
      • including 7.0 m at 8.80 g/t Au from 104.0 m
      • including 3.0 m at 11.97 g/t Au from 115.0 m;
  • 18.0 m at 4.29 g/t Au in drill hole KDD22-030 from 45.0 m
      • including 6.0 m at 9.83 g/t Au from 48.0 m
      • including 2.0 m at 8.32 g/t Au from 61.0 m;
  • 40.0 m at 1.84 g/t Au in drill hole KDD-010 from 159.0 m
      • including 7.0 m at 5.15 g/t Au from 159.0 m
      • including 4.0 m at 6.63 g/t Au from 188.0 m;
  • 20.0 m at 3.32 g/t Au in drill hole KDD-019 from 60.0 m
      • including 6.0 m at 9.03 g/t Au from 60.0 m;

Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated: “The results reported today from our ongoing delineation drilling program are highly encouraging and continue to build on our exploration successes in the region. Karita is located on the Senegal-Mali Shear Zone which extends from B2Gold’s Fekola mine 15 kilometres to the north though our previous discoveries at the Boto and Diakha-Siribaya projects to the south. During this program we have intersected multiple, wide zones of mineralization within altered metasedimentary units, several of which include considerable thickness in the shallow oxidized zone, extending nearly 2 kilometres along strike. We would like to recognize the efforts of our exploration team in West Africa, who have worked tirelessly against many logistical challenges to safely implement this drilling program as they advance our evaluation of our newest discovery.”

The assay results returned represent 42 diamond drill holes (“DDH”) totaling 10,230.5 metres from the ongoing 2022 delineation drilling program, which will involve the completion of 22,000 to 24,000 metres of drilling, designed to delineate the mineralized zones on a nominal 100 x 50 metre collar spacing in order to support a future initial mineral resource estimate. To date, approximately 18,225 metres in 70 DDH holes have been completed. Additional assay results will be reported once they are received, validated and compiled.

Figure 1 – Karita Drill Hole Plan View

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6077/130082_c2aa54d1f413c833_001full.jpg

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2022/07/2e4b294a790dc78644d7f0dabf4e917c.jpg

Figure 2 – Cross Section View L 2200N

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6077/130082_c2aa54d1f413c833_002full.jpg

Note: Drill hole intercepts are calculated with a lower cut-off grade of 0.3 g/t Au and may contain lower grade intervals of
up to 5 meters in core length

Next Steps

Approximately 4,000 to 6,000 metres of additional drilling is planned in the second half of the year as part of the 2022 delineation drilling program. The results of the drilling program will be compiled, validated and interpreted to develop a deposit model to support the completion of an initial mineral resource estimate planned for 2023.

The Karita Gold Project

The Karita Gold project is wholly-owned by IAMGOLD and is held under an exploration permit that covers approximately 100 square kilometres in Guinea, on the Birimian aged Kédougou-Kéniéba inlier of the West African Craton region along the borders with Senegal, Guinea and Mali.

In 2017, the Company completed a reconnaissance geology and termite mound geochemical sampling program over the Karita permit to evaluate the interpreted extension of the Boto-Diakha mineralized trend in Guinea. The area is thought to cover an extension of the regionally important and prolific Senegal-Mali Shear Zone along trend between IAMGOLD’s Boto Gold deposits in Senegal to the north, and its Diakha deposit on the Siribaya project in Mali to the south. The sampling program identified an extensive gold geochemical anomaly delineated over a nearly 2 kilometre strike length, and similar to that observed to be associated with the deposits occurring at both Boto and Diakha.

Cannot view this image? Visit: https://www.nxtmine.com/wp-content/uploads/2022/07/f9172322d16a85c3495baf49ee3307d0.jpg

Figure 3 – Senegal-Mali Shear Zone

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6077/130082_c2aa54d1f413c833_003full.jpg

The initial 2019 drilling program was designed to evaluate the geochemical anomaly for the presence of mineralization and involved the completion of wide spaced lines of reverse circulation (“RC”) drilling, which confirmed the presence of multiple zones of mineralization hosted within an albite + hematite altered sandstone metasedimentary unit over a 1.6 kilometre strike length.

After extensive access restrictions arising from the global COVID-19 pandemic, exploration resumed in 2022 with the objective of delineating this new discovery to evaluate its resource potential. Results to date have confirmed the presence of shallow oxide mineralization extending at depth to fresh rock where mineralization is observed to be hosted in altered and locally brecciated metasedimentary lithologies exhibiting albite – silica – hematite alteration associated with disseminated to locally narrow semi-massive sulphide (pyrite) veins and occasional visible gold. Overall, the mineralization shows similarities to IAMGOLD’s Boto and Diakha deposits located along the same trend.

Table 1 – 2022 Diamond Drilling Program – Karita Gold Project, Guinea
UTM WGS84/Zone29 AZ Dip EOH From To Core
Length
Gold2 Mineralized
Zones
HOLE-ID Easting Northing Elevation (°) (°) (m) (m) (m) (m) (g/t)
KDD22-001 240772.3 1372899 166.8 90 -54 315 0 3 3 0.66 Oxide zone
77 84 7 1.87
94 109 15 0.71 Sulfide zone
Including 94 100 6 1.29
132 137 5 3.74
210 214 4 0.51
KDD22-002 240572.3 1372200 178.8 90 -55 350.5 86 139 53 1.88 Sulfide Zone
Including 86 95 9 3.9
Including 100 111 11 3.53
115 139 24 1.04
KDD22-003 240672.3 1372199 176.4 90 -55 326 21 71 50 2.85 Oxide zone
Including 36 43 7 13.47
84 87 3 2.72 Sulfide zone
145 148 3 3.99
178 181 3 0.55
189 196 7 0.34
KDD22-004 240875.6 1372900 169.1 90 -54 247 0 6 6 1.06 Oxide zone
17 19 2 1.11
96 100 4 2.03 Sulfide zone
127 131 4 0.56
KDD22-005 240926.4 1372901 170.1 90 -54 190 0 13 13 1.05 Oxide zone
30 31 1 29.7
44 66 22 1.81
Including 51 54 3 7.06
KDD22-006 240623.8 1372199 177.7 90 -55 354 39 51 12 0.95 Oxide zone
62 67 5 1.16
67 101 34 5.81 Sulfide zone
Including 70 75 5 33.31
197.9 212 14.1 6.46
Including 203 206 3 28.73
338 340 2 1.82
KDD22-007 240723.9 1372199 175.8 90 -55 300 51 69 18 0.65 Oxide zone
98 135 37 3.5 Sulfide zone
Including 116 122 6 7.46
249 255 6 0.63
KDD22-008 240775 1372199 175 90 -55 250 32 43 11 0.43 Oxide zone
50 68 18 2.72
Including 62 66 4 6.57
KDD22-009 240826.1 1372900 167.9 90 -53 276 0 6 6 0.6 Oxide zone
19 31 12 1.5
61 63 2 0.79
KDD22-010 240517.8 1372200 179.8 90 -55 351 100 105 5 1 Sulfide zone
159 199 40 1.84
Including 159 166 7 5.15
Including 188 192 4 6.63
203 205 0.73
KDD22-011 240824.9 1372199 174.3 90 -55 160 19 27 8 2.89 Oxide zone
56 62 6 0.63 Sulfide zone
67 73 6 0.6
KDD22-012 240722.5 1372899 166.7 90 -54 300 112 113 1 3.15 Sulfide zone
145 148 3 1.33
257 259 2 1.28
KDD22-013 240628.3 1372302 177.5 90 -54 275 38 46 8 0.38 Oxide zone
53 58 5 0.32
73 94 21 2.71 Sulfide zone
Including 80 88 7 5.15
104 124 20 5.33
Including 104 111 7 8.8
Including 115 118 3 11.97
131 135 4 1.82
142 145 3 1.49
197 207 10 0.6
Including 202 204 2 1.64
223 235 12 0.75
KDD22-014 240589.1 1372102 178.3 90 -54 300 75 87 12 0.94 Oxide zone
Including 75 77 2 1.8
Including 82 87 5 1.43
91.4 101 9.6 0.97 Sulfide zone
153 159 6 6.52
Including 153 155 2 9.24
Including 157 159 2 10.09
250 252 2 2.43
KDD22-015 240708.8 1372302 176 90 -54 225 25 46 21 5.33 Oxide zone
Including 25 31 6 7.42
Including 39 46 7 9.11
76 78 2 5.82 Sulfide zone
85.5 88 2.5 1.17
99 102.1 3.1 1.4
135 141 6 3.31
136 139 3 6.06
162 172 10 0.51
KDD22-016 240670 1372101 176.3 90 -54 250 24 27 3 0.44 Oxide zone
54 55 1 109.9
129 141 12 9.49 Sulfide zone
Including 129 135 6 17.95
149 155 6 3.21
172 175 3 0.58
KDD22-017 240700.4 1372700 173.8 90 -54 312 14 35 21 1.19 Oxide zone
Including 15 18 3 5.62
83 85 2 1.68 Sulfide zone
115 117 2 0.73
154 156 2 3.12
215 220 5 1.06
KDD22-018 240789.6 1372301 174.2 90 -54 150 28 30 2 6.82 Oxide zone
63 81 18 1.02 Sulfide zone
KDD22-019 240748.9 1372101 174.9 90 -54 172 60 80 20 3.32 Oxide zone
Including 60 66 6 9.03
125 132 7 0.85 Sulfide zone
KDD22-020 240686.1 1372500 177.7 90 -54 275 18 29 11 1.86 Oxide zone
Including 25 26 1 17.4
77 81 4 1.1 Sulfide zone
99 103 4 2.2
123 130 7 5.16
Including 123 125 2 16.58
KDD22-021 240766 1372500 176 90 -54 243 26 32 6 10.98 Oxide Zone
KDD22-022 240847.8 1372500 175.1 90 -54 174 40 46 6 1.22 Oxide zone
61 67 6 1.03 Sulfide zone
KDD22-0023 240780 1372700 176 90 -54 252 35 44 9 0.86 Oxide zone
62 68 6 0.6 Sulfide zone
73 78 1.26
KDD22-024 240860.3 1372700 178.5 31 45 14 2.3 Oxide zone
Including 31 34 3 6.42
128 130 2 1.52 Sulfide zone
KDD22-025 240620 1372700 174 90 -54 303 158 169 11 0.61 Sulfide zone
213 215 2 2.26
252 269 17 1.42
Including 252 257 5 2.97
Including 265 268 3 3.24
KDD22-026 240606 1372500 178 90 -54 276 71.6 77.9 6.3 0.63 Sulfide zone
102 106 4 12.9
Including 103 106 3 17.04
157 170 13 0.47
198 208 10 12.02
Including 205.1 206 0.9 119.3
KDD22-027 240646 1372500 178 90 -54 275 94 105 11 0.92 Sulfide Zone
Including 102.4 104.2 1.8 3.68
171 174 3 1.09
KDD22-028 240741.1 1372700 175.471 90 -54 264 11 33 22 5.7 Oxide Zone
Including 19 22 3 31.13
Including 32 33 1 19.9
63 65 2 12.65 Sulfide zone
107 114 7 0.93
KDD22-029 240550 1372300 179.9 90 -54 276 54 57 3 1.03 Oxide zone
73 76 3 21.35 Sulfide zone
116 138 22 1.81
Including 120 124 4 6.12
160 170 10 0.81
192 210 18 0.77
KDD22-030 240723.2 1372500 176.9 90 -54 258 19 21 2 2.96 Oxide Zone
45 63 18 4.29 Sulfide zone
Including 48 54 6 9.83
Including 61 63 2 8.32
75 91 16 0.84
Including 86.3 88 1.7 6.67
176.7 178.5 1.8 5.6
KDD22-031 240806 1372500 176 90 -54 210 NSV
KDD22-032 240819.6 1372700 178.6 11.5 21 9.5 0.62 Oxide zone
45 56.5 11.5 1.83 Sulfide zone
Inclusion 49 50 1 14
160 162 2 2
KDD22-033 240670.1 1372302 176.5 90 -54 250 26 51 25 5.32 Oxide zone
Including 26 40 14 9.1
Including 46 51 5 1.11
51 83 32 1.66 Sulfide zone
Including 68 70 2 13.14
156 177 21 1.9
KDD22-034 240519.8 1371902 177.2 90 -54 308 25 36 11 1.22 Oxide zone
141 167 26 0.65 Sulfide zone
Including 152 162 10 1.32
180 186 6 1.28
206 209 3 1.65
243 267 24 0.83
Including 246 251 5 2.18
KDD22-035 240593.7 1371900 176.0 90 -54 250 26 28 2 4.91 Oxide zone
65 69 4 0.94 Sulfide Zone
101 105 4 0.84
118 128 10 0.54
157 160 3 4.42
Including 157 158 1 12.2
177 210 33 0.41
KDD22-036 240678.7 1371900 175.0 90 -54 190 20 30 10 1.2 Oxide zone
41 44 3 1.69
64 74 10 1.9 Sulfide zone
Including 65 66 1 14.3
166 190 24 1.66
Including 173 175 2 8.95
Including 185 187 2 4.37
KDD22-037 240760 1371900 173.0 90 -54 121 75.5 104 28.5 1.01 Sulfide zone
Including 80 82 2 4.44
KDD22-038 240560 1371900 176.0 90 -54 275 83 88 5 0.5 Sulfide zone
107 117 10 0.72
128.1 134 5.9 0.57
154 160 6 0.77
214 232 18 0.95
Including 222.5 229 6.5 1.87
KDD22-039 240640 1371900 175.0 90 -54 202.0 79 81 2 0.71 Sulfide zone
90 97 7 0.79
Including 94 97 3 1.7
121 123 2 2.55
KDD22-040 240720 1371900 173.0 90 -54 165 125 164 39 0.61 Sulfide Zone
Including 125 133 8 1.21
Including 151 157 6 1.14
KDD22-044 240552 1371300 138.0 90 -55 290 190 180 10 0.8 Sulfide zone
279 284 5 2.04
KDD22-046 240602 1371300 139.1 90 -55 270 40 78 38 0.51 Oxide zone
Including 40 46 6 1.57
89 100 11 1.1 Sulfide zone
115 130 15 0.68
137 147 10 0.53

 

Notes:

  1. Drill hole intercepts are calculated with a lower cut-off grade of 0.3 g/t Au and may contain lower grade intervals of up to 5 metres in core length.
  2. Assays intervals are reported uncapped, but high grade sub-intervals are highlighted.
  3. NSV – no significant values reported.
  4. Insufficient drilling has been completed to establish true widths of the mineralized intercepts, but these are estimated to be between 60-80% of the reported interval.

TECHNICAL INFORMATION AND QUALITY CONTROL NOTES

The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

The Qualified Person (“QP”) responsible for the supervision of the preparation, verification and review of the technical information in this release is Philippe Biron, P. Geo., Regional Senior Geologist, West Africa for IAMGOLD. Mr. Biron is a QP for the purposes of NI 43-101 with respect to the technical information being reported on.

The information in this news release was reviewed and approved by Craig MacDougall, P.Geo, Executive Vice President, Growth for IAMGOLD. Mr. MacDougall is a QP for the purposes of NI 43-101. The technical information has been included herein with the consent and prior review of the above noted QPs.

The sampling of, and assay data from, DDH core are monitored through the implementation of a quality assurance – quality control (QA-QC) program designed to follow industry best practice and include the insertion of certified reference standards. Core samples from diamond drilling are collected from three diamond rigs, at generally one meter intervals, under the direct supervision of IAMGOLD geologists and field technicians. Core samples are sawed in half, with one half sent to the lab for prep and assay, and the other retained for reference purposes.

The assay samples were prepared and assayed at Bureau Veritas Analytical Laboratory in Bamako, using a standard fire assay with a 50-gram charge and an Atomic Absorption finish (FA450). Samples which returned values greater than 10 g/t Au are being re-assayed using a gravimetric finish.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are generally identifiable by, but not limited to, the use of the words “may”, “will”, “should”, “would”, “continue”, “expect”, “expected”, “budget”, “forecast”, “anticipate”, “estimate”, “believe”, “intend”, “appear” “plan”, “schedule”, “guidance”, “outlook”, “potential”, “plans”, “targeted”, “focused”, or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, differences in the mineral content within the material identified as mineral resources or mineral reserves from that predicted, the failure to accurately estimate mineral resources or mineral reserves, unexpected increases in capital expenditures, operating expenditures and exploration expenditures, changes in development or mining plans due to changes in logistical, technical or other factors, the possibility that future exploration results will not be consistent with the Company’s expectations, changes in world gold markets and other risks disclosed in IAMGOLD’s most recent Form 40-F/Annual Information Form on file with the United States Securities and Exchange Commission at www.sec.gov/edgar.shtml and Canadian securities regulatory authorities at www.sedar.com, which are incorporated herein. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable law.

CAUTIONARY NOTE TO U.S. INVESTORS REGARDING DISCLOSURE OF MINERAL RESOURCE ESTIMATES

References to mineral resources contained in this news release are based on the meaning given to such term in NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Standards”). These standards are similar to those used by the United States Securities and Exchange Commission (the “SEC”) Industry Guide No. 7, as interpreted by the SEC staff. However, the definitions in NI 43-101 and the CIM Standards differ in certain respects from those under Industry Guide 7. Accordingly, mineral resource information contained in this news release may not be comparable to similar information disclosed by United States companies.

As a result of the adoption of amendments to the SEC’s disclosure rules (the “SEC Modernization Rules”), which more closely align its disclosure requirements and policies for mining properties with current industry and global regulatory practices and standards, including NI 43-101 and the CIM Standards, and which became effective on February 25, 2019, the SEC now recognizes estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources.” Issuers were required to comply with the SEC Modernization Rules in their first fiscal year beginning on or after January 1, 2021, though Canadian issuers that report in the United States using the Multijurisdictional Disclosure System (“MJDS”) may still use NI 43-101 rather than the SEC Modernization Rules when using the SEC’s MJDS registration statement and annual report forms.

United States investors are cautioned that while the SEC now recognizes “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under the SEC Modernization Rules, investors should not assume that any part or all of the mineral deposits in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility. Under Canadian regulations, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in limited circumstances.

Investors are cautioned not to assume that any “measured mineral resources”, “indicated mineral resources”, or “inferred mineral resources” are or will be economically or legally mineable. Further, “inferred mineral resources” have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that any part or all of an inferred mineral resource will ever be upgraded to a higher category.

About IAMGOLD

IAMGOLD is a mid-tier gold mining company operating in North America, South America and West Africa. The Company has three operating mines: Essakane (Burkina Faso), Rosebel (Suriname) and Westwood (Canada), and is building the large-scale, long life Côté Gold project (Canada) which is expected to start production towards the end of 2023. In addition, the Company has a robust development and exploration portfolio within high potential mining districts in the Americas and West Africa.

IAMGOLD employs approximately 5,000 people and is committed to maintaining its culture of accountable mining through high standards of Environmental, Social and Governance (“ESG”) practices, including its commitment to Zero Harm®, in every aspect of its business. IAMGOLD is listed on the New York Stock Exchange (NYSE: IAG) and the Toronto Stock Exchange (TSX: IMG) and is one of the companies on the Jantzi Social Index (“JSI”), a socially screened market capitalization-weighted consisting of companies which pass a set of broadly based environmental, social and governance rating criteria.

IAMGOLD Contact Information

Graeme Jennings, Vice President, Investor Relations
Tel: 416 360 4743 | Mobile: 416 388 6883

Philip Rabenok, Manager, Investor Relations
Tel: 416 933 5783 | Mobile: 647 967 9942

Toll-free: 1 888 464 9999
[email protected]

This entire news release may be accessed via e-mail, IAMGOLD’s website at www.iamgold.com and through Newsfile’s website at www.newsfilecorp.com. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.

Si vous désirez obtenir la version française de ce communiqué, veuillez consulter le www.iamgold.com/French/accueil/default.aspx.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130082







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