en.Wedoany.com Reported - Montage Gold Corp. announced a significant increase in resources at its Koné gold project in Côte d'Ivoire. The measured and indicated resources from satellite deposits increased by 1.14 million ounces compared to the 2024 updated feasibility study, reaching 1.66 million ounces, with grade improving from 1.48 g/t gold to 1.51 g/t gold. The combined measured and indicated resources for the entire Koné project reached 6.29 million ounces at a grade of 0.80 g/t gold, an increase of 1.42 million ounces and a 27% grade improvement over the study baseline (4.87 million ounces at 0.63 g/t gold). Project construction is ahead of schedule and within budget, targeting first gold pour by the end of the fourth quarter of 2026.
Building on the 118,525 meters of drilling completed in 2024, the Koné project has completed approximately 330,000 meters of additional drilling, focusing on discovering higher-grade satellite deposits. The previously set target of delineating over 1 million ounces of measured and indicated resources with grades at least 50% higher than the Koné deposit (0.59 g/t gold) has been exceeded. Satellite deposits now total 1.66 million ounces of measured and indicated resources at 1.51 g/t gold, compared to the 520,000 ounces at 1.48 g/t gold used in the 2024 UFS; inferred resources for satellite deposits increased from zero to 766,000 ounces at 1.34 g/t gold.
Montage Gold CEO Martino De Ciccio stated that the company is pleased with the continued progress in unlocking exploration value at the Koné project, with construction on budget and ahead of schedule. The company's systematic exploration approach first drills the highest priority targets, confirms potential, and delineates initial resources to verify grade profiles, followed by infill and expansion drilling. The current exploration program focuses on three parallel work streams: infill and expansion drilling on existing deposits, advancing new targets to initial resource status, and testing new targets through regional reconnaissance drilling.
The company has delineated 12 deposits at the Koné project, a significant increase from the two in the previous feasibility study, and has intersected mineralization at 25 targets across seven mineralized trends, with over 20 additional exploration targets yet to be tested. This resource update includes detailed drilling results from multiple satellite deposits. For example, the Soman deposit has completed 21,648 meters of drilling and reported its initial resource, with mineralization hosted in a volcano-sedimentary sequence, confirmed within 150 meters of vertical depth and remaining open in all directions. The Petit Yao deposit, approximately 7 kilometers from the processing plant, has completed 22,434 meters of infill and expansion drilling across 378 drill holes, remaining open to the northwest, southeast, and at depth.
Resource details for other major satellite deposits are as follows: The Gbongogo South deposit has completed 81,652 meters of drilling, with a resource pit shell extending approximately 1.1 kilometers along strike and a maximum depth of about 245 meters; the Koban North deposit has completed approximately 18,651 meters of drilling, with a resource pit shell extending approximately 615 meters along strike and a maximum depth of about 145 meters; the ANV deposit has completed 39,484 meters of drilling, with a resource pit shell extending approximately 1,600 meters along strike and a maximum depth of about 172 meters; the Yeré North deposit has completed 10,062 meters of drilling, with a resource pit shell extending approximately 580 meters along strike and a maximum depth of about 90 meters; the Lokolo Main deposit has completed approximately 16,558 meters of drilling, with a resource pit shell extending approximately 1.2 kilometers along strike and a maximum depth of about 110 meters. All deposits remain open along strike and at depth, with further expansion drilling planned.
Montage Gold Corp. is a Canadian publicly listed company committed to becoming a multi-asset African gold producer. Its Koné project, based on the 2024 updated feasibility study, has an estimated mine life of 16 years, with annual gold production exceeding 300,000 ounces in the first eight years. The company also holds the Didievi and Wendé permits in Côte d'Ivoire and potential exploration rights in Mauritania.
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