Published: October 29, 2024 |

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Canadian mining company IAMGOLD Corporation is optimistic that its newly established Côté Gold Mine could signal the emergence of a new mining district, as exploration results suggest a potential link between the Côté and Gosselin zones.

As part of an operational update for its Côté Gold Mine, the company detailed future expectations for a new Canadian-based gold project located in northeastern Ontario.

“I want to commend the Côté team for the tireless work and commitment to safety as they ramp up what has the potential to be one of Canada’s largest gold mines. I am very proud about the progress we achieved in the third quarter, as we saw definitive signs that the improvements that were deployed throughout the quarter, and during the shutdown in September, are having a measurable and meaningful positive impact on operations,” said Renaud Adams, president and chief executive officer of IAMGOLD.

“When we look at the processing plant today, we see two primary areas of attention: the crushing circuit before the coarse ore dome, and everything after the coarse ore dome — which entails the HPGR and wet side of the plant. With the coarse ore dome filled, the downstream processing circuits demonstrate very strong performance in availability and capacity. This has allowed us to focus on the crushing circuit, as we look to improve the flexibility and capacity to support a vision for an ultimately larger Côté Gold,” added Adams.

“Our goal remains clear. We are focused on ramping up Côté to achieve 90 percent of throughput exiting this year towards nameplate in 2025. We believe that Côté is just the start of what will be a mining district. The exploration results today from Gosselin continue to demonstrate the potential for the Côté and Gosselin zones to connect, in addition to highlighting that the overall size and scope of these zones have yet to be defined — as both Côté and Gosselin remain open at depth in all directions,” concluded Adams.

The processing plant at Côté has demonstrated its ability to operate at or above design capacity since the installation of the coarse ore dome. This includes the high-pressure grinding rolls (HPGR) and the wet side of the plant.

Meanwhile, the company has been actively exploring the Gosselin zone, adjacent to the main Côté deposit. It’s implemented a drilling program focused on testing the continuity and expansion potential of mineralized zones.

Success in this exploration could significantly extend the mine’s life and boost production capacity. Mining operations have also advanced. The ore stockpile is growing and targeting 5 million tonnes by the end of 2024, setting the stage for sustained production phases.

Gold production reached 68,000 ounces on a 100 percent basis, with 41,000 ounces attributable.

The processing plant ramp-up remains on track to close the year operating at 90 percent of its design throughput rate of 36,000 tonnes per day. During Q3, 2024, mining operations totaled 10.4 million tonnes. It also included an improved strip ratio of 2.3:1 and 3.2 million tonnes of ore mined.

Additionally, the mill processed 1.6 million tonnes of ore in the third quarter, doubling the rate from the previous quarter. A record daily throughput of 40,900 tonnes per day, 14 percent above nameplate, was achieved after the scheduled September shutdown, where key optimizations improved the processing plant’s availability and performance.

The Côté Gold project, a joint venture between IAMGOLD (60 percent) and Sumitomo Metal Mining (40 percent), plays a crucial role in IAMGOLD’s portfolio and is expected to significantly boost the company’s production profile once fully operational. This mine expands IAMGOLD’s presence in Canada and reinforces its strategy to focus on high-potential projects in geopolitically stable regions.

Source: Mugglehead Magazine

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa. The company has commenced production at the large-scale, long life Côté Gold Mine in partnership with Sumitomo Metal Mining, which is expected to be among the largest gold mines in Canada. In addition, the company has an established portfolio of early stage and advanced exploration projects within high potential mining districts. IAMGOLD employs approximately 3,700 people and is committed to maintaining its culture of accountable mining through high standards of environmental, social and governance practices, including its commitment to Zero Harm®, in every aspect of its business.

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