Iamgold to spend $43,5m on greenfields exploration
miningweekly.com
By: Liezel Hill
20th January 2011
TORONTO (miningweekly.com) – Toronto-based Iamgold has budgeted $43,5-million for greenfield exploration this year, a record for the company and 16% higher than the $37,6-million spent in 2010.
Iamgold plans to drill nearly 118 000 m across all its sites in 2011, with an additional 46 425 m of aircore drilling planned at the new Essakane mine in Burkina Faso, where it has identified significant new oxide drill targets within the Essakane permit.
The firm has outlined 32 drill ready targets across its portfolio of 18 projects in West Africa and the Americas, and the drilling will include “aggressive” exploration programmes at two advanced greenfields projects in Mali, Iamgold said.
"We have a very robust greenfield programme with a plethora of good projects,” commented CEO Steve Letwin.
“We hold, or control through third-party agreements, a majority interest in more than 20 000 square kilometres of mineral lands in our exploration portfolio in nine countries of West Africa and the Americas,” he said.
“These lands are located in proven districts or geologic terranes with demonstrated gold potential, and provide an important strategic exploration advantage in the face of increased competitive pressures as the bull market for gold enters its eleventh straight year." |
