Diamond drilling has started at the Rouyn property, which mid-tier miner Iamgold is funding through an option agreement with explorer Yorbeau Resources.
The companies in December signed a definitive agreement, whereby Iamgold has the option to acquire a 100% interest in Yorbeau’s Rouyn property in Quebec by making an initial cash payment of C$1-million, followed by cumulative cash payments of C$4-million and funding exploration expenditures to the value of C$9-million over a four-year period, including no less than 20 000 m of diamond drilling within the first two years.