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 | 94
Item 17. ADJACENT PROPERTIES
The recent growing interest for Niobium and REE minerals has generated interest in the
general area of the Niobec mine.
At the end of February 2010 DIOS Exploration published the discovery of a satellite
carbonatite seven (7) km south of Niobec Mine, the Shipshaw discovery. This prompted the
need to review the global setting of the Niobec alkaline and carbonatite complex at the
regional scale and evaluate the presence of potential satellite deposits.
The results obtained by DIOS to date in the Shipshaw carbonatite are only anomalous in
terms of Nb and REE but this could lead to higher grade or to different styles of
mineralization associated to this new carbonatite. An Offer from IAMGOLD to participate in
a private Placement of CDN$1.2 M in DIOS Exploration and to enter in an Exploration
Option to Joint Venture on the Shipshaw project was accepted and signed by DIOS on
January 13th 2011.
On the closing of the private placement IAMGOLD was granted an exclusive option (the
"Option") to enter into an Option and Joint Venture Agreement to earn sixty percent (60%) of
DIOS's interest in the Shipshaw Project, Saguenay area, Quebec, within two (2) years of the
private placement in DIOS, which Option may not be exercised until the earliest of the time
taken by DIOS to spend 80% of the placement on the Shipshaw Carbonatite program (under
DIOS’ management), or of a period of one year after IAMGOLD has subscribed to the initial
private placement. No less than 80% of the placement would be committed to DIOS'
Shipshaw Carbonatite program, and any surrounding claims. This has given to IAMGOLD
8.95 % of the then issued and outstanding Common Shares of DIOS after the closing of the
placement.
DIOS Exploration is planning various field surveys to execute in the coming months and is
currently executing a drilling exploration campaign on their main carbonatite discovery.
Several prospective areas staked by DIOS and interpreted from government regional
geophysical surveys will be also explored in the current year program.
IAMGOLD-Niobec is following the DIOS exploration results to evaluate the potential of the
area for their economic activities.
Item 18. MINERAL PROCESSING AND METALLURGICAL TESTING
Preliminary metallurgical testwork was initiated. Four metallurgical drill holes were
executed in March 2011 to provide the metallurgical samples. Samples from two drill holes
were combined to make a master composite to begin the metallurgical testwork. In july
2012, all the rejects coming from the 2011 drilling campaign was assembled and sent to a
laboratory for a pilot test. In 2012, an exploration drift was developed in the core of the REE
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