IAMGOLD Corporation (NYSE: IAG) reported strong drill results Tuesday from its Nelligan Mining Complex in Quebec. Drilling extended gold mineralization at the Nelligan deposit and returned high-grade intercepts at nearby Monster Lake. The best hole cut 7.3 meters grading 49.6 grams per tonne gold, including a 1-meter interval of 155.6 g/t. IAMGOLD also advanced its Philibert project and expanded its 2026 Nelligan drill program by two-thirds as it works toward updated resource estimates at year-end.

Key Points

• Monster Lake hole ML-26-318 hit 7.3 m at 49.6 g/t gold, including 1.0 m at 155.6 g/t.
• At Nelligan, hole NE-26-272 returned 77.0 m at 2.23 g/t gold, more than double the deposit’s average resource grade.
• IAMGOLD expanded its 2026 Nelligan drill program from 18,000 to 30,000 meters.
• Updated resource estimates for Nelligan and Philibert are targeted for year-end 2026, with a Preliminary Economic Assessment to follow.
• IAG closed Monday at $16.34, up 0.49%, and traded at $16.35 premarket.

High-Grade Hits at Monster Lake for IAMGOLD (NYSE: IAG)

Monster Lake delivered the headline grades. Drilling in the Megane Zone of the Main Shear Zone returned several bonanza-grade intervals:

• ML-26-318: 7.3 m at 49.6 g/t gold, including 1.0 m at 155.6 g/t
• ML-26-302: 10.35 m at 22.99 g/t gold, including 1.0 m at 144.6 g/t
• ML-26-314A: 9.45 m at 21.16 g/t gold, including 0.85 m at 128.8 g/t
• ML-26-300: 12.2 m at 14.71 g/t gold

Hole ML-25-293 also extended mineralization at depth with 7.7 m at 24.77 g/t. IAMGOLD plans to keep drilling Monster Lake at depth and along strike. It is also evaluating an exploration ramp from surface. Monster Lake currently holds an underground resource of 102,000 indicated ounces at 13.0 g/t and 499,000 inferred ounces at 14.8 g/t.

Nelligan Keeps Growing at Depth

Meanwhile, drilling at Nelligan continued to extend the deposit. “Mineralization continues down plunge,” said Marie-France Bugnon, Vice President, Exploration. The highlights include:

• Zone 36, NE-26-272: 77.0 m at 2.23 g/t gold, including 6.0 m at 7.14 g/t
• Renard, NE-26-297: 37.28 m at 3.62 g/t gold, including 8.5 m at 10.61 g/t
• Footwall, NE-25-266: 7.5 m at 14.37 g/t gold, including 3.0 m at 33.8 g/t
• Dan, NE-26-294: 13.4 m at 5.20 g/t gold

Many of these intervals grade well above Nelligan’s resource average of about 0.95 g/t. The open-pit resource stands at 3.7 million indicated ounces and 4.6 million inferred ounces. To convert more of those inferred ounces, IAMGOLD expanded its 2026 drill program to 30,000 meters and is considering step-out drilling in 2027.

Philibert Rounds Out a Major Gold Camp

IAMGOLD now owns 100% of Philibert after it acquired Northern Superior Resources in December 2025. Drilling there returned 11.9 m at 6.05 g/t gold at the Arctic Fox zone and 29.3 m at 3.39 g/t at depth. In total, IAMGOLD drilled more than 57,000 meters across the three projects in its latest campaigns.

“Through the consolidation of Nelligan, Monster Lake and Philibert, we have created one of Canada’s largest pre-production gold camps,” said Renaud Adams, President and CEO.

What Comes Next

IAMGOLD targets updated resource estimates for Nelligan and Philibert by year-end 2026. The company expects its next exploration update in the first half of 2027, followed by a Preliminary Economic Assessment for the camp.

IAG shares trade near $16.34, well below their 52-week high of $24.87. The company has a market value of about $9.3 billion.

IAMGOLD is a member of the PRISM Precious Metals Index. The index tracks small- and mid-cap precious and critical metals companies, including Hecla Mining and Coeur Mining.

The post IAMGOLD Hits Up to 155.6 g/t Gold at Monster Lake as Drilling Extends Nelligan Deeper appeared first on PRISM MarketView.

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