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 Cont’d 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 99.9 percent of the water . 100% water removal with a ?ve step ?ltration. Reduce OEM ?lter cost by 50%. Reduce fuel consuption 5%-8% and increase engine life. Lowest coef?cient 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 1,000 kilometr es or more fzzling out west of T immins. This is part of the Abitibi-Greenstone 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 re-opened 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 60,000 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 Cont’d on pg. 35 TIMMINS / MA THESON CAMP