QUEBEC - Toronto-based IAMGOLD CORPORATION is eager to get the near-surface portion of its Westwood project into production. According to the newly completed internal scoping study, the Warrenmac deposit could be accessed during the sinking of the Westwood exploration shaft. Production could begin as early as the second half of 2010.
The most recent resource estimate (April 2008) puts the measured and indicated Warrenmac resource at 313,000 tonnes grading 6.9 g/t Au, 54.0 g/t Ag, 0.2% Cu and 4.5% Zn. Development of the resource is expected to deliver a rate of return of in excess of 30% at current commodity prices. The capital cost of the project is approximately $31 million and is in line with original capital estimates for this part of the Westwood project development plan, says IamGold.
Access to Warrenmac would be through the exploration ramp previously announced for the Westwood project. The primary purpose of the ramp is to provide better drilling access to the Westwood deposit above the 14th level exploration drift, but it could provide additional benefits for the Warrenmac development schedule. The Warrenmac ore could be processed at the Doyon mill if the copper circuit were expanded and a new zinc circuit added. The completion of the ramp access is concurrent with the initial phase development of a 2,000-metre shaft.
The company has initiated the permitting process for the shaft. Visit www.IamGold.com to follow the advancement of the Westwood project.
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