Page 35 it has found recent studies showed that its indicate d reserves were 1 14 higher than initially predicted Cote Lake project will have about 15 years of mine life and close and be rehabilitate d within fve years of production ending IAMGOLD was attracted to the Cote Lake Mine be cause of several advantages the loca tion of fered W e are excited about the opportu nities for secure reasonably priced electricity sources W oolfenden said It is not easy to obtain reliable sup ply of ener gy at reasonable prices in other parts of the world but this area has plenty of electricity secure supply at reasonable prices Because of the increased need for electricity IAMGOLD proposes ex pansion of a 230KV transmission line through their property to the mine The site is also close to roads rails and suppliers from T immins and Sud bury and a lar ge knowledge of mining in the area The area is also blessed with an abun dance of water which is necessary for operating a gold mine The lar ge quan tities of water is both a blessing and a challenge explained W oolfenden W e can use as much water as we want But it is also an impediment to reaching gold said W oolfenden The greatest challenge facing IAM GOLD is the removal of Cote Lake which will have a signifcant impact on the environment W e are working with our provin cial and federal counterparts to com pensate people for the removal of the lake and other losses W oolfenden explained IAMGOLD will compen sate local communities and First Na tions for any losses The Cote Lake Project provides sig nifcant opportunity for suppliers from both T immins and Sudbury and other parts of Northern Ontario to partici pate in the project As for how and when suppliers can get on a list of supplies and servies W oolfenden said that will have to wait until IAMGOLD names a site manag er for Cote Lake Soon we will hire a site manager and that person will be responsible for dealing with suppli ers Currently IAMGOLD has 50 people working on site with half of them liv ing in nearby community of Gogama The work consists of drilling and ex ploration for possible future gold re serves IAMGOLD is on track with the project Cote Lake Mine will have 15 year life Contd from pg 34 What is your equipment a v ailability r ate Futurekleens perfect proactive maintenance solutions Removes contaminants down to 1 micron and removes 999 percent of the water 100 water removal with a ve step ltration Reduce OEM lter cost by 50 Reduce fuel consuption 58 and increase engine life Lowest coefcient of friction 003 Our customers 93 Our Bottom Line Incr easing Y ours Come see us at Booth 22 TIMMINS MA THESON CAMP Page 34 By Frank Giorno There is a swath of Canadia n Shield rock that runs from mid central western Quebec through Northeastern Ontario a band extending north to south over at least 200 kilometres or more and from east to west at least 1000 kilometr es or more fzzling out west of T immins This is part of the AbitibiGreenstone Belt Canada s richest concentration of gold mines many of them having been mined for over 100 years Among one of the many 100 year old mines being reopened is IAM GOLD s Cote Lake Mine frst opened about 100 years ago in Chester T own ship near Gogama situated 130 km south of T imm ins and 170 km north of Sudbury of f of Highway 144 The T immins Chamber of Commerce TCC asked IAMGOLD representa tives to speak at one of their luncheon series at the Dante Club Art Pultz the president of the T immin s Cham ber of Commerce said it was a good way for the members of the TCC to get to know IAMGOLD the new kid on the local gold minin g block Many member s of the TCC are ex pert service providers and suppliers to the gold minin g sector The room was packed to capacity Steven W oolfenden the manager of environmental assessment and en vironmental approval was the guest speaker He has many years of expe rience working in the environmental assessment and approvals feld with the Federal Canadian Environmenal Assessment Agency His two main portfolios were the Detour Gold En vironmental Assessment and the Clif fs Natural Resources EA for their proposed chromite mine in the Ring of Fire The Cote Lake project reminds many of Detour Gold s project Cote Lake will operate as a high volume through put open pit mine with low grade gold production just like Detour Gold W e are in comparable size our pit design will be very similar to De tour s and will be processing the same amount of ore per day roughly about 60000 tonnes W oolfenden said IAMGOLD is a Canadian company with operations around the world including Surinam in Latin America and mines in W est Africa including one in Mali which is current ly being challenged by a civil war IAMGOLD has a couple of mines in Quebec most notably its Niobec mine which it is in the process of expand ing That mine is one of the top three niobium mines in the world Niobium is used in steel making Moving into the Ontario gold min ing realm was something IAMGOLD was eagerly to do In fact the com pany sold two properties in Ghana to make the acquisition of Cote Lake from T relawney Mines possible Production at Cote Lake is expected to start by 2017 This year IAMGOLD enters its feasibility studies and envi ronmental assessment process IAM GOLD will offcially embar k on its Environmental phase by the end of March 2013 Regional consultation meetings will be held with area com munities The environmental assessment plan will be submitted by IAMGOLD to the federal and provincial environ mental assessment offces at the end of December 2014 The two govern ments will have a year to produce a response to the EA proposal Our engineeri ng team is in the pre feasibility phase while we are prepar ing our environmental assessment said W oolfenden W oolfenden said the company has a zero harm philoso phy If his environmental assessment team feels the engineering plans are not up to standard environme ntally it will speak up and ask that the envi ronmental concerns be addressed If all goes according to plan IAM GOLD will have obtained their en vironmental permits by the end of December 2015 and commence construction in 2016 When Detour Gold s EA was being considered by the provincial and federal govern ments they were able to continue with site preparation while they await ed the decision However a recent change to the federal environmental assessment laws means no work may begin until all environmental approv als are in place Gold production at IAMGOLD is set to start in 2017 a date that the compa ny awaits with eager anticipa tion In November 2012 IAMGOLD learned that there has been a signifcant in crease in the amount of gold reserves at IAMGOLD s Cote Lake Mine The Hundr ed Y ear Gold Rush Continues Contd on pg 35 TIMMINS MA THESON CAMP