THE ELEPHANT Some Points to ponder
- $195 million 30%
- Completed approx. 2000 metres diamond drilling IN 3 months
- Commercial Production expected to begin first half of 2021
- Solar power
………………………………………….
Located about 20 km south of the Rainy Mountain Royalty Brunswick property, is the IAMGOLD “elephant”…..the Cote Gold Project.
…………………………………
June 5, 2017
IAMGOLD will form a joint venture with Sumitomo Metal Mining CO of Tokyo Japan. Sumitomo will pay an aggregate $195 million to IAMGOLD for a 30% undivided participating interest in IAMGOLD's ownership interest in the Ct Gold Project in Ontario
……………………………………….
https://www.stockhouse.com/news/press-releases/2017/11/07/iamgold-reports-solid-third-quarter-and-continues-to-execute-on-its
below….an extract from above link
Ct Gold Joint Venture Project, Canada
The Ct Gold Project in northern Ontario is a 70:30 joint venture between the operator IAMGOLD and Sumitomo Metal Mining Co. Ltd.
The project hosts estimated mineral reserves as at May 26, 2017 on a 100% project basis comprising probable reserves totaling 196.1 million tonnes grading 0.94 g/t Au for 5.9 million ounces. Also on a 100% project basis, indicated resources (inclusive of reserves) are estimated at 281.2 million tonnes grading 0.89 g/t Au for 8.0 million ounces and inferred resources of 76.5 million tonnes grading 0.50 g/t Au for 1.2 million ounces (see news release dated June 5, 2017 ).
Based on the recommendations from a pre-feasibility study completed in the second quarter (see news release dated June 5, 2017 ), the joint venture partners working with Wood Group (formerly Amec Foster Wheeler) have initiated a feasibility study which is now expected to be completed in the first half of 2019.
During the quarter, a delineation drilling program commenced with the objective to upgrade near surface inferred resources to an indicated category as well as to evaluate grade variation in the starter pit. Approximately 2,000 metres of diamond drilling were completed during the quarter.
Subject to an acceptable feasibility study, a favourable development environment and a positive construction decision by the Ct Gold Joint Venture, commercial production is expected to begin in the first half of 2021.
.
Regional exploration activities continue within the 516-square-kilometre property surrounding the Ct Gold deposit to develop and assess exploration targets that could further maximize our flexibility with respect to any future development decisions
COULD AN “ELEPHANT” RESOURCE EVENTUALLY BE FOUND ON THE RAINY MOUNTAIN ROYALTY BRUNSWICK PROPERTY ?
QUIEN SABE
QUI SAIT
WHO KNOWS
…………………………………………
& JUST A SIDE NOTE
https://www.mining.com/burkina-faso-gold-mine-build-solar-hybrid-power-plant/
IAMGOLD plans to install a 15-megawatt solar-power plant at its Essakane mine (West Africa)
Using solar is a way for IAMGOLD to cut its diesel use and lower its carbon footprint – a path it started in 2014 with a 5MW solar plant installed at its Rosebel gold mine in Suriname.
According to Mining Weekly the project is EREN's second utility-scale project in Africa and will be one of the largest hybrid diesel solar photovoltaic projects in the world.
(click on above link for more info & 8 comments)