NI 43-101 Technical report, Surface diamond drilling ... - Iamgold

R a r e E a r t h E l e m e n t E x p l o r a t i o n P r o g r a m M a r c h - 2 0 1 3
W i n t e r - S u m m e r 2 0 1 2 P a g e | 2
fluorocarbonates and monazite. The mineralization is disseminated between the dolomite
crystal phase in the massive facies or form part of the breccia cement in the brecciated facies.
REE mineralization is associated with hematite, chlorite, ferroan dolomite, minor thorite,
ilmenorutile and pyrite.
The property has been explored since its discovery in 1967 by SOQUEM and SOQUEM &
Associates until 1986. Approximately 3500 metres of diamond drill holes have been realized
on the REE Zone. The REE mineralization and its economic aspects were identified.
In 2011, IAMGOLD CORPORATION undertook a first 13,798 m drill reconnaissance
campaign (29 drill holes) to a depth of 400 m. Added to the SOQUEM drill holes, a first
resource estimation of 466.8 million tonnes at a grade of 1.65% total rare earth oxides
(TREO) was reported by P.J. Lafleur Geo-Conseil Inc., in March 2012. In 2012, exploration
and definition drilling added 23, 851 m (33 drill holes) and tested the REE zone to a depth of
1,200 m.
The drill program conducted by the company on the REE zone aimed to define the three
dimensional geometry of the REE zone, upgrade some inferred into indicated resources,
extend the inferred resources to the depth of 700 m, provide samples for metallurgical test
work and increased the REE mineralization knowledge. The drill program was completed on
a 100 by 100 metres grid down to 400 m and on a 100 by 200 metres grid down to 700 m.
Three holes exceeded 1,000 metres in total length, and reach a maximum length of 1,337
metres. The two deepest holes demonstrated that the REE zone persists uninterrupted at
depth, although the resource model is reported only to a depth of 700 metres below surface.
Based on these new drilling results, a resource estimate was prepared by Réjean Sirois, Eng.,
an independent Qualified Person, Vice President, Geology & Resources at G. Mining
Services Inc., Brossard, Quebec. The REE resource corresponds to an enriched zone of Light
REEs (LREE) which is characteristic of this annular carbonatite type. LREEs comprise
98.1% of the weight of the Total REEs (TREE), with the remaining 1.9% Heavy REEs
(HREE) that could potentially add significant economic value. The REE zone is estimated at
531.4 Million Tonnes of Indicated resources at an average grade of 1.64% Total Rare
Earth Oxides (TREO) and an Inferred Resources of 527.2 Million Tonnes at an average
grade of 1.83% TREO, to an approximately depth of 700 metres below surface (the surface
lies at a reference elevation of 10,000 metres).
3400, chemin du Columbium, St-Honoré-de-Chicoutimi, QC G0V 1L0 Canada – tel. : 418 673-4694 Fax : 418 673-3179
E-mail : info.niobec@iamgold.com www.niobec.com