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Update: IAMGOLD Announces High Grade Drill Results At Monster Lake Joint Venture

IAMGOLD's (NYSE:[[IAG]]) exploration success keeps on coming. A day after announcing outstanding drilling results at the company's Boto project in Senegal, new drills have been released at the Monster Lake project, owned by Tomagold (TOGOF). IAMGOLD can earn a 50% interest if the company completes cash payments and exploration expenditures totaling $17.6 million over 5 years.

Here are the highlights:

325 - Megane Zone:

  • Drillhole ML14-130: 9.18 metres grading 46.33 g/t gold,
    • Includes: 2.2 metres grading 182.8 g/t gold
  • Drillhole ML14-131: 3.42 metres grading 18.68 g/t gold
  • Drillhole ML14-132: 7.1 metres grading 6.74 g/t gold

These are exceptional, high-grade results, as they extend the deposit at depth below previous drilling, where the deposit still remains open for expansion. In addition, exploration activities also included data compilation and processing, a ground geophysical survey, geological mapping and selected outcrop stripping and sampling, as part of the 2014 drilling campaign.

The company said… Read More …