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IAMGOLD: Mineralized zones linked at Quimsacochca

Bnamericas Published: Tuesday, May 17, 2005
Toronto-based IAMGOLD's (TSX: IMG, Amex: IAG) latest drill results confirm the presence of gold mineralization linking the two known gold zones at its Quimsacocha flagship exploration project in southern Ecuador, the company announced. "Investors have cautiously been waiting for proof that mineralization is continuous between D1 and Loma Larga... it is becoming clear that the D1 and Loma Larga mineralized zones are part of the same mineral deposit," said company CEO Joseph Conway in a statement. Highlights of an additional 16 holes at Quimsacocha include 22.3m of 31.4g/t gold in hole 183 that lies in the 250m gap between Loma Larga and D1 some 50m south of the southernmost hole in D1. "We now have strong indications that the mineralization will stretch over a north-south length of at least 850m and that it is at least 150m wide in places," said Conway. Another hole in the area between Loma Larga and D1 returned 118m of 3g/t gold including 14.4m of 8.5g/t gold, according to the statement. A third drill rig has been added to test Quimsacocha's Rio Falso area, 1km southwest of Loma Larga. In addition, nine samples have collected for metallurgical testing by Canada's SGS Lakefield Research. IAMGOLD has budgeted US$3.9mn to explore Quimsacocha this year, with a total 21,000m of drilling planned.

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