CEO Renaud Adams noted the new reserve figure but highlighted the mine’s transformation.
After a serious seismic event attributed to mining activity in 2015, Westwood faced its worst seismic event in October 2020. This forced Iamgold to suspend operations and redesign its mining approach.
“The updated mine plan demonstrates Westwood’s ability to sustainably produce gold with a refined focus on safety and efficiency,” he said in a Thursday release. Adams also said that better methods have halved seismic events since the mine’s major disruptions in 2020.
The new reserve base totals 2.6 million tonnes grading 11.45 grams gold per tonne for to 1.2 million contained oz., spread across the Westwood and Grand Duc deposits. The company pegged reserves to a $1,500 gold price, with resources modelled at $1,800.
Despite the reserve reduction, Iamgold sees Westwood as a core asset with high-grade potential. The…
