IAMGOLD Update on Rare Earth Drilling and Assay Results

IAMGOLD Corporation (NYSE:IAG,TSX:IMG) announced an update to exploration activities at its Quebec-based rare earth property.

The press release is quoted as saying:

By the end of August, 2011, more than 7,000 metres of diamond drilling had been completed within the REE zone. The program is designed to establish the three dimensional “footprint” of mineralization which begins very near surface, provide a preliminary grade estimate of the suite of rare earth elements, and conduct preliminary metallurgical test work.

IAMGOLD’s President and CEO, Steve Letwin said:

“I am very encouraged with these early results. At some point after we test the remaining drill samples, our next task will be to assess if and how the REEs would be mined and processed.”

Click here to read the entire news release.