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07:13 AM EDT, 07/06/2016 (MT Newswires) -- IAMGOLD Corporation (IMG.TO, IAG) - at 52 week high levels on the TSX - overnight announced additional drilling results from its 100% owned Boto Gold Project in eastern Senegal, West Africa. The company is reporting assay results from four deep diamond drill holes at the Malikoundi deposit totaling 2,341 metres completed to date during the 2016 drilling program.
Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, said: "The deep drilling program has successfully extended mineralization at depth below the current resource model and, importantly, has confirmed the presence of high grades below the current resource pit shell. These results will help guide further drilling at depth targeting other potentially high grade areas."
On next steps, the company said to date it has completed 4,148 metres of diamond drilling, including 2,341 metres to test for extensions of mineralization at depth below the current resource model as well as the re-entry and deepening of selected drill holes which previously stopped in footwall mineralization. A further 765 metres have been completed for geotechnical purposes to help define potential pit wall slopes. It added the drilling program will continue until the commencement of the seasonal rains and is expected to resume in the fourth quarter of this year.
Meanwhile, IAG will release its second quarter 2016 financial results after market hours on Wednesday, August 3rd, 2016.
Price: 6.01, Change: +0.24, Percent Change: +4.2
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