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(Kitco News) – Today, Sumitomo Metal Mining and IAMGOLD have confirmed significant gold mineralization through an exploration program in the Gosselin and Young-Shannon zone, located approximately 1.5 kilometers northeast of the Côté gold project in Ontario, Canada.
Highlights of the drilling results include 417.3 meters grading 0.95g/t Au, 353.0 meters grading 1.04g/t Au, and 86.0 meters grading 5.57g/t Au.
Sumitomo and IAMGOLD are planning to have an additional drilling campaign totaling approximately 14,500 meters to delineate the mineralized zone and to support maiden resource estimation, which is expected to be completed in 2021. Partners anticipate these results will increase the value of the Côté gold project by utilizing facilities currently under construction.
Sumitomo joined the exploration project (claim area approximately 521km2) in 2017 as a part of the Côté gold project. The construction work at the Côté gold project is progressing on schedule and expected to be completed in 2023.