Gold miner Iamgold has exercised its option to increase its interest in the Nelligan joint venture project, by a further 24% to now hold an aggregate undivided interest of 75% in the property south-west of Chibougamau, Quebec.
Under the terms of the option agreement between Iamgold and Vanstar Mining Resources, the company exercised its option to increase its ownership interest in the property from 51% to 75% by completing a mineral resource estimate and making the remaining cash payments of C$2.35-million.