Exploration Success at Koné Project
Key Highlights:
- Montage Gold Corp. has successfully completed over 81,000 meters of drilling in 2024. This drilling was primarily focused on identifying higher-grade satellite deposits.
- The results bolster confidence in achieving the company's goal of discovering more than 1 million ounces of Measured and Indicated Resources for satellites, which are anticipated to be at a grade 50% higher than the main Koné deposit.
- This exploratory work confirms mineralization at all 18 targets drilled out of 52 identified.
- Seven new, higher-grade satellite deposits were outlined, showcasing gold grades from 0.9 to 1.6 g/t Au, significantly higher than those of the Koné deposit.
- A total of 160,000 ounces at 1.16 g/t Au and 270,000 ounces at 1.0 g/t Au have been added to the Indicated and Inferred Resources.
- Additionally, the Indicated resources of the Koné deposit have increased by 150,000 ounces to 4.49 million ounces at a grade of 0.57 g/t Au.
- Inferred resources have also risen by 110,000 ounces to 510,000 ounces at a grade of 0.43 g/t Au.
- The overall Indicated Resource for the Koné project has expanded by 340,000 ounces to 5.21 million ounces at 0.62 g/t Au.
- Inferred Resources increased by 380,000 ounces to a total of 780,000 ounces at 0.54 g/t Au.
Future Drilling Plans
In early 2025, Montage Gold aims to embark on a substantial 90,000-meter drilling program costing around US$14 million. This initiative is inspired by the successful resource delineation during the 2024 program.
CEO Martino De Ciccio expressed optimism regarding the Koné Project's potential, highlighting the company's lane towards becoming a major player in African gold production. The aim is to ensure annual production remains steady at a minimum of 300,000 ounces over the years, beginning from the anticipated production start in the second quarter of 2027.
Progressing Towards Production
The 2024 exploration program not only delineated seven new deposits but also identified several new targets, which are currently being advanced toward the pre-resource definition stage. Building on last year’s progress, Montage Gold aims to steadily increase its resource base while preparing for future production.
With the exploration team expanding to over 150 members, the company's focus on systematic drilling to validate high-grade targets is anticipated to set a solid groundwork for future operations. The objective is to add depth and value to the existing resources of the Koné project, thereby enhancing its overall production profile.
About Montage Gold Corporation
Montage Gold Corp. (TSXV: MAU, OTC Markets: MAUTF) is on a mission to establish itself as a premier multi-asset gold producer in Africa, leveraging the Koné project at the core of its strategy. As one of the most promising gold projects on the continent, the Koné project boasts a formidable mine life, projected at 16 years, with a capability of producing over 300,000 ounces of gold annually over its inaugural eight years.
Frequently Asked Questions
What has been achieved in the 2024 exploration program?
The 2024 exploration program successfully drilled over 81,000 meters, leading to the delineation of seven higher-grade satellite deposits and significant increases in resources.
What are the future plans for the Koné project?
A 90,000-meter drilling program is scheduled for early 2025, designed to further explore and delineate additional higher-grade satellite deposits.
How do the 2024 results impact the overall resource estimates?
The results have positively impacted resource estimates, significantly increasing both Indicated and Inferred resources at the Koné project.
Who is the CEO of Montage Gold Corp.?
The CEO of Montage Gold Corp. is Martino De Ciccio, who has been actively involved in enhancing the project's value through aggressive exploration.
What is the strategic objective of Montage Gold?
The company's goal is to become a premier African gold producer, ensuring steady annual production while maximizing the resource potential of its projects.
