07:08 AM EDT, 04/03/2018 (MT Newswires) -- IAMGOLD Corporation (IMG.TO, IAG) detailed Tuesday a new Inferred Mineral Resource estimate for the Eastern Borosi joint venture gold project (IAMGOLD 51% and Calibre Mining Corp. (CXB.V) 49%) located in Nicaragua. CXB, with a market capitalisation of near $25 million, is trading near year lows on the small Toronto Venture Exchange.

A statement said Roscoe Postle Associates Inc. has completed the initial resource estimates for the Blag, East Dome, Guapinol, and Vancouver veins, as well as updated Mineral Resource estimates for the Riscos de Oro and La Luna veins, which are part of the Eastern Borosi joint venture. It added the resource models assumed open pit extraction for the La Luna veins, and underground mining extraction for the other veins.

According to the statement, the underground resource estimate comprises Inferred Resources totaling 3,219,000 tonnes grading 6.03 g/t Au and 104 g/t Ag for 624,000 ounces of contained gold and 10,758,500 ounces of contained silver. The open pit resource estimate comprises Inferred Resources totaling 1,199,000 tonnes grading 1.98 g/t Au and 16 g/t Ag, for 76,500 ounces of contained gold and 601,000 ounces of contained silver.

Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, said, "This new resource estimate reported for the Eastern Borosi project consolidates the results of successive drilling campaigns completed by the joint venture partners under the direction of the Calibre exploration team between 2014 and the end of 2017. Numerous vein systems and targets remain to be explored and the potential for resource additions and further discoveries is considered to be favourable."

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