Iamgold Corp. (TSX: IMG; NYSE: IAG) reports a 51% increase in consolidated gold reserves at its Rosebel Gold Mine in Suriname, with the tally including reserves from the Saramacca deposit, located approximately 25 kilometers from the Rosebel mill. The additional reserves extend Rosebel’s mine life by five years to 2033, with future average annual production estimated at 318,000 ounces, Iamgold said. The increase was achieved with no change to the $1,200 gold-price assumption used for calculating estimates. Iamgold said consolidated reserves increased by 51% to 4.7 million ounces, which include 1 million ounces from the Saramacca deposit. Measured and indicated resources increased by 2% to 9.3 million ounces, with those at Saramacca rising by 72% to 1.2 million ounces. “Saramacca has delivered,” says Steve Letwin, president and chief executive officer of IAMGOLD. “Within only a year of confirming the resource, Rosebel has rapidly advanced Saramacca to reserve status and incorporated the additional ounces into the overall LOM [life-of-mine] plan.” The company says Saramacca is on track for mining to begin in the second half of 2019.
By Allen Sykora of Kitco News; email@example.com