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 | 1
Item 3. SUMMARY
In 2012, the geological team of Niobec Inc., a subsidiary of IAMGOLD Corporation Inc.,
acted as the operator of the Rare Earth Elements (REE) exploration project. The exploration
program results and the mineral resources performed on the REE zone are published in a
Technical Report complying with the National Instrument 43-101. The authors of the report
are Louis Grenier, Geo. and Jean-François Tremblay, Geo. respectively exploration geologist
and senior geologist at Niobec mine site. Réjean Sirois, P.Eng., of G. Mining Services Inc.
undertook the role of Qualified Person for the work program and the current mineral resource
estimate. All data sources come from the surface drilling done in 2011 and 2012, the
underground drilling (S-3607) and the historical data since 1968, time of the discovery.
The Niobec property, which contains the REE zone in a carbonatite complex (St Honoré
carbonatite complex), is located thirteen kilometres North of Ville de Saguenay (Chicoutimi),
in the limits of the municipality of Saint-Honoré, in the Simard Township, Quebec. This
property, held 100% by Niobec Inc., consists of 2 mining leases and 179 claims for 8,010.85
ha. An agreement dated August 31st, 2011 between Niobec Inc. and IAMGOLD granted to
IAMGOLD 100% of the beneficial rights to all the non-niobium mineral rights located on the
property (including the rights to the REE’s).
The St-Honoré carbonatite complex (SHCC) was discovered by SOQUEM (“Société
Québécoise d’Exploration Minière”) in 1967. The SHCC is host in a Precambrian rocks (the
Saguenay-Lac-St-Jean anorthosite complex) belonging to the Grenville orogenic province of
the Canadian Shield (Figure. 3).
This annular intrusive mass, which is almost completely covered by the Trenton limestone of
Paleozoic age, is elliptical in planview. The North-East major axial lengthen approximately 3
kilometres and the intrusive covered a surface of about 8 km². Dated by Potassium-Argon
(K-Ar) to be 650 my old, the SHCC is part of the igneous alkaline activity related to a
tectonic extension event known as Lapetan rift system of the end of Precambrian.
This Alkaline complex is composed of a central carbonatite core, surrounded by an alkaline
syenite, a feldspathoid bearing syenite and syenitic foidites (Ijolites and Urtites). The
Greenville basement, constituted in this area by pyroxene syenites, Diorites (with
hypersthene or magnetite), syeno-diorite with aegyrine and pyroxene gneiss, is highly
fenitized near the contact with the SHCC.
The carbonatite core comprises concentric lenses of calcitites (Sovites) and dolomitites
(rauhaugites), interpreted as cones sheets and ring dykes. These units consist of a series of
crescentric lenses of carbonatite with compositions younging progressively inwards from
calcitite through dolomitite to ferro-carbonatite. The massive to brecciated ferrocarbonatite,
which form the central core, contains the REE mineralization, mainly as 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