Issue link: http://resourceworld.uberflip.com/i/263953
www.resourceworld.com 47 F E B R U A R Y / M A R C H 2 0 1 4 MINING IAMGOLD TO BUILD SOLAR POWER PLANT AT SURINAME MINE IAMGOLD Corp. [IMG-TSX; IAG-NYSE] will fund the development and operation of a solar power project with an installed capacity of five megawatts in Suriname, South America. The Solar Project is delivering on a prior commitment to the Government of Suriname, which was made in connection with a prior deal that significantly lowered the company's cost of power. The cost to build the Solar Project is expected to be in the range of $12 million to $14 million, including the work necessary to prepare and provide access to the site. It is expected to be operational at the start of the third quarter of 2014. The Solar Project will be managed and operated by its subsidiary, Rosebel Gold Mines NV (RGM), with all electric power being used at the RGM site, and will interconnect to Suriname's electric power grid system. Ron Halas, Vice President, Commercial, South America, and Project Coordinator stated, "This Solar Project is a positive step forward for IAMGOLD and Suriname as a whole. Five megawatts of additional generating capacity will help the mine to reduce operating costs and free up existing power capacity for use by other customers in Suriname. I am pleased that IAMGOLD has chosen this proven green technology to meet the increasing power needs at RGM." Steven Letwin, President and CEO, com - mented that, "As Rosebel transitions from mining soft rock to harder rock deposits we need an increased amount of power to crush and grind the ore to facilitate the gold extraction. We have successfully negotiated reductions in the cost of power at Rosebel and this solar project further improves the cost and supply of power to meet our needs. Adapting such technolo - gies to our business is exactly the type of innovation this industry requires to succeed in the future." IAMGOLD will continue to work cooperatively with the Government of Suriname on this project. The company plans to share all technical information with relevant Government Authorities and ADEK University of Suriname so as to improve the understanding of solar power potential in Suriname. IAMGOLD is a mining company with six operating gold mines (including cur - rent joint ventures) on three continents and one of the world's top three niobium mines. n BULLMAN MINERALS DRILLS 40 M GRADING 4.088 G/T GOLD Bullman Minerals Inc. [BUL-TSXV] reported assay results from the first four drill holes completed on its Siguiri Project in northeast Guinea, West Africa. The company started the drilling program towards the end of November 2013 and has drilled about 6,200 m of the total program (approx. 10,000 m) to date. Assay results from these holes will be released as they are received from the lab. Drill holes from the this program along with historic drilling (38,235 m) will be used to complete a mineral resource estimate for the Siguiri Project that will be documented in a NI 43-101 Technical Report in 2014. Highlights: • All four drill holes intersected thick intervals of near surface gold min - eralization that include high-grade intervals. • Drill hole SRC-002 intersected 44m grading 3.731 g/t gold including a higher grade interval of 40 m grading 4.088 g/t gold. • Drill hole SCO-003 intersected 55 m grading 1.590 g/t gold including a higher grade interval of 9 m grading 5.110 g/t gold. • Drill hole SCO-001 intersected 50 m grading 0.895 g/t gold including a higher grade interval of 12 m grading 2.473 g/t gold and further down the hole 19 m grading 1.166 g/t gold with a higher grade interval of 10 m grad - ing 2.059 g/t gold. • Near surface gold mineralization may be amenable to open pit extraction and heap leach processing similar to the nearby SAG mine located 30 km to the west; however, additional testwork is required to confirm this mining and processing scenario. The Siguiri Project covers a 248 km 2 area and is comprised of three exploration permits organized into two concession blocks, a North Block comprised of two permits and a South Block comprised of a single permit. The project is underlain predominantly by fine grained sedimen - tary rocks comprised of siltstone, argillite and immature sandstones; felsic and mafic dykes are mapped in the project area. A north to northeast shear zone that is over 60 km long extends across both the North and South Block, and is host to gold min - eralization exposed in artisanal pits and trenches, and intersected in drill holes. In the North Block, four deposits (FK, Tinko, Shawn and Fadiougoula) are aligned north to south along part (>16 km) of this shear zone; the Amina deposit is located along a parallel structure 6 km to the west. Gold mineralization is associated with moder - ately developed quartz stockworks and sheeted veinlets that have been oxidized to depths varying from 40 to over 100 m. Mineralization is open along strike and at depth. See company web site for complete table of drill results (www.bullmanminer - als.com). n