Iamgold drilling strengthens Nelligan growth case

AI desk brief

Iamgold says new drilling at its Nelligan complex in Quebec has extended gold mineralization and strengthened the case for a larger district-scale development hub. Key results included 77m at 2.23 g/t gold from 692m at Nelligan’s zone 36, 7.3m at 49.6 g/t from 32m at Monster Lake, and 29.3m at 3.39 g/t from 468.1m at Philibert.

The company is targeting an updated Nelligan resource estimate within weeks, with an exploration update in 1H 2027 followed by a PEA. Iamgold has lifted 2026 drilling at Nelligan to 30,000m from 18,000m and earmarked about $24 million, nearly half of its 2026 exploration budget, for the complex; analysts from National Bank, TD and RBC all said the results support resource growth and Iamgold’s next organic growth lever beyond Côté-Gosselin.