IAMGOLD, Merrex Report Initial Resource for Diakha Deposit

IAMGOLD Corp. (TSX:IMG,NYSE:IAG) announced the maiden NI 43-101 mineral resource estimate for the Diakha deposit, located at the Mali-based Siribaya project. Siribaya is a 50/50 joint venture between IAMGOLD and Merrex Gold Inc. (TSXV:MXI).
As quoted in the press release:

The resource estimate, which includes resources estimated for previously known zones at Zone 1B and Taya Ko (formerly Zone 1A) along the Siribaya trend as well as the new Diakha deposit, is comprised of Indicated Resources totalling 2.1 million tonnes averaging 1.90 grams of gold per tonne for 129,000 ounces and Inferred Resources comprised of 19.8 million tonnes averaging 1.71 grams of gold per tonne for 1.1 million ounces.  A significant portion of the estimate is derived from the newly discovered Diakha deposit which is open in all directions and has significant potential for expansion.

Craig MacDougall, senior vice president, exploration, at IAMGOLD, commented:

The Diakha discovery is the second greenfield discovery made by the IAMGOLD exploration team in West Africa in the last three years, including the Malikoundi deposit of the Boto gold project located in neighbouring Senegal.  Despite reduced budgets resulting from a sustained industry-wide downturn, the exploration group has successfully advanced Diakha from discovery to an initial resource estimate in just two years.  We believe that there remains significant potential to expand the current resource base and this will be an objective of future exploration programs.  I extend my congratulations to the Diakha discovery team who have worked very hard to achieve this outstanding result.

Click here to read the full IAMGOLD Corp. (TSX:IMG,NYSE:IAG) press release.