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Metalla reports IAMGOLD's Côté mine project nears completion, eyes Gosselin deposit growth

EditorRachael Rajan
Published 2023-10-25, 10:32 a/m
Updated 2023-10-25, 10:32 a/m
© Reuters.

Metalla Royalty & Streaming (NYSE:MTA) Ltd., the holder of a 1.35% Net Smelter Return royalty on the Gosselin and a portion of the Côté deposits, has announced that IAMGOLD (NYSE:IAG) Corporation's Côté mine project is nearing completion, with 90.6% of the work completed as of this week. The company is planning to commence production at the Côté mine in early 2024.

In an update on recent explorations, Metalla's CEO Brett Heath highlighted the potential of the 5 Moz gold Gosselin deposit to match the ~14 Moz gold Côté deposit. Recent drilling efforts by IAMGOLD suggest that the dimensions of Gosselin are approaching those of the adjacent Côté deposit.

IAMGOLD intends to include findings from the current drilling campaign into a revised resource estimate for Gosselin in their year-end Mineral Resources disclosure. Alongside this, technical studies on Gosselin are underway to evaluate alternatives for its potential inclusion into a future life-of-mine plan for the Côté Gold project.

The anticipation surrounding these developments underscores the significant potential growth of the Gosselin deposit and its potential contribution to Metalla's future revenue stream.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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