Stratex International plc (LON:STI) has announced that IAMGOLD Corporation (TSE:IAG, NYSE:IAG) has completed its preliminary studies at the company’s 85%-owned Dalafin gold project in Senegal and the drilling will commence shortly.
The AIM-listed company said the mobilisation of drilling equipment to the site is nearing completion and IAMGOLD will shortly commence a 5,750m Air Core, Reverse Circulation and diamond core drilling programme at the Madina Bafe prospect on the south of the licence area.
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Stratex said IAMGOLD is focusing on exploration at Madina Bafe prospect as part of initial US$4mln earn-in to 51% of the project.
The gold exploration group said full review of historical diamond drill core and RC chips is completed. Also, regolith mapping has been completed and is currently being digitised.
Tim Livesey, CEO of Stratex, said: “We are delighted to see the development of such a robust work programme and that IAMGOLD are moving ahead so quickly on the earn-in.”
He added: “We look forward to strong news flow on Dalafin over the coming months.”