Nelligan now has an indicated resource on a 100% basis of 72.2 million tonnes grading 0.85 g/t gold for 2 million oz. of contained gold. Inferred resources measure 114.1 million tonnes averaging 0.88 g/t gold for 3.2 million ounces. The resource used a cut-off grade of 0.35 g/t gold, compared to the 2019 resource, which was based on a 0.5 g/t gold grade.
While the new resource has boosted Nelligan’s tonnage by 92% compared to the 2019 estimate, gold grades declined by 15%. Iamgold drilled 53 holes (22,045 metres) between 2020 and 2022, which refined the deposit and structural models, the companies noted in a press release, and resulted in the conversion of 62% of the inferred resource to the indicated category.
The new resource also incorporated an additional 24 historic drill holes that were “previously located outside mineralized domains,” according to the press release.
The partners plan to drill 10,000 metres this year…
