Metalla Royalty & Streaming Ltd.  is pleased to report IAMGOLD Corporation ("IAMGOLD") (TSX: IMG) (NYSE: IAG) has announced by press release dated October 23, 2023 that the Côté mine ("Côté") project has progressed to 90.6% completion and exploration drilling continues to expand the adjacent Gosselin zone discovery ("Gosselin").

Metalla owns a 1.35% Net Smelter Return royalty on Gosselin and a portion of Côté (collectively, the "Royalty").

Brett Heath, President & CEO of Metalla commented, "We are thrilled to see the continued success in exploration activities at Gosselin, especially the significant intercepts at depth. The results are very exciting and suggest that the Gosselin deposit, subject to the completion of further delineation drilling, has potential to expand in size similar to the adjacent Côté deposit. We look forward to the future at Gosselin and IAMGOLD's work to include the deposit into the future Côté life-of-mine plans."

"We are also pleased to see the continued progress of the construction of the Côté mine as IAMGOLD is near the finish line and has announced that it expects production to commence in early 2024."

IAMGOLD announced the completion of another successful drill campaign at Gosselin and reported additional results. IAMGOLD stated recent drilling at Gosselin provide evidence that the 5 Moz gold Gosselin deposit(1) is approaching similar dimensions as the adjacent ~14 Moz gold Côté deposit(1). IAMGOLD expects to incorporate recent drill results into an updated resource estimate for Gosselin in IAMGOLD's year end Mineral Resources disclosure. In addition, IAMGOLD continues to advance technical studies on Gosselin, including metallurgical testing, mining and infrastructure studies to review alternatives to optimize the possible inclusion of the Gosselin deposit into a future Côté Gold life-of-mine plan.(1)

IAMGOLD REPORTED THE FOLLOWING GOSSELIN DRILLING PROGRAM HIGHLIGHTS (1)

• 0.65 g/t gold over 472 meters including 1.59 g/t gold over 51 meters
• 0.82 g/t gold over 356 meters including 1.09 g/t gold over 132 meters
• 1.40 g/t gold over 300.8 meters including 1.71 g/t gold over 207.3 meters
• 1.53 g/t gold over 240 meters including 2.26 g/t gold over 120 meters
• 0.72 g/t gold over 500.8 meters

IAMGOLD REPORTED THE FOLLOWING CÔTÉ HIGHLIGHTS (1)

• Overall Côté project progress was estimated to be 90.6% complete as of September 30, 2023, with construction progress approximately 92% complete
• Côté development remains on track with production to commence in early 2024

According to IAMGOLD (1):

"This diamond drilling program has strategically targeted the expansion potential of the Gosselin deposit at depth, specifically below the East and newly discovered West hydrothermal breccia bodies, the gap area between these breccia's, and also along the southern edge of the deposit. The assay results confirmed the extension of gold bearing altered and mineralized hydrothermal breccia and associated tonalite intersected in numerous drill holes up to 400 metres vertically below the previous resource pit shell over an approximate one-kilometer strike length. The results are very encouraging and indicate that the Gosselin deposit, subject to the completion of further delineation drilling, has potential to expand in size similar to the adjacent Côté deposit"

Figure 1: Gosselin Composite Longitudinal Section

Côté and Gosselin 1.35% Royalty Map
NOVA SPECIAL MEETING
Metalla is also pleased to report that, further to its joint new release with Nova Royalty Corp. ("Nova"), dated September 8, 2023, Nova has announced it has obtained an interim order of the Supreme Court of British Columbia in connection with the proposed arrangement (the "Arrangement") to be implemented under a statutory ‎plan of arrangement pursuant to section 288 of the Business Corporations Act (British Columbia). ‎The Interim Order provides for the holding of a special meeting (the "Special ‎Meeting") of the holders of common shares of Nova (collectively, the "Nova Shareholders") to consider and vote on a special resolution approving the Arrangement. The Special Meeting is scheduled to be held at the offices of DLA Piper ‎‎(Canada) LLP, at Suite 2700, 1133 Melville Street, Vancouver, BC V6E 4E5 on Monday, November 27, ‎‎2023, at 10:00 a.m. (Vancouver time) and the record date for determining Nova Shareholders entitled to receive ‎notice of and vote at the Special Meeting has been fixed as at the close of business on October 25, ‎‎2023.‎

The Special Meeting materials, including a management information circular, will be available on SEDAR+ under Nova's profile at www.sedarplus.ca and on Nova's website once they have been mailed to Nova Shareholders in the coming days.‎

 

Source:prnewswire.com

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