Montage Gold drills 12.91 g/t gold over 23 metres at Koné, Côte d’Ivoire

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Montage Gold Corp. [MAU-TSXV; MAUTF-OTCQX] reported further results from continuing resource drilling at the Gbongogo Main deposit within the Koné gold project (KGP), Côte d’Ivoire, West Africa.

A resource definition program began in late November 2022, designed to upgrade the inferred mineral resource of 5.2 million tonnes at 2.1 g/t gold for 351,000 ounces (1.2 g/t cut-off). This program is nearing completion and continues to confirm higher-grade zones in the overall deposit.

Highlights: Ongoing diamond drilling at Gbongogo Main defines and extends mineralization: GBDD035 returned 113.25 metres at 2.30 g/t gold. GBDD037 returned 48.00 metres at 1.72 g/t gold; GBDD038 returned 45.75 metres at 1.90 g/t gold.

Results within quartz-tourmaline vein sets at Gbongogo Main improve confidence of higher-grade controls: GBDD039 returned 20.50 metres at 10.95 g/t gold. GBDD043 returned 17.00 metres at 8.56 g/t gold.

RC drilling at Yere North confirms and improves initial reconnaissance results: YERNRC010 returned 23 metres at 12.91 g/t (twin of hole MMKAC141). YERNRC007 returned 14 metres at 5.09 g/t gold.

The program continues with 4 rigs drilling multiple targets across the Koné Gold Project.

Rick Clark, CEO commented, “New results from Gbongogo Main, the best drilled by Montage to date, strongly support management’s view of expanded resource potential and the possibility of an overall higher grade to the ore body.

“We are also very encouraged by the confirmation and expansion of high-grade results at the Yere North prospect. While Yere North remains early stage, it is showing the potential to develop into an additional satellite deposit for the overall Kone Gold Project. The discovery of Yere North clearly demonstrates the underexplored nature of our land package and gives us confidence that other high-grade satellites will be discovered.”

Drilling at Gbongogo Main delivers wide high-grade intervals and depth extension. Resource RC drilling of the upper part of the Gbongogo Main deposit was completed in January (3,042m) and core drilling commenced at the start of February with 3,372 metres drilled to date.

Gbongogo Main currently hosts an Inferred Mineral Resource of 5.2Mt at 2.1 g/t gold for 351koz (1.2g/t cut off). The first four core holes were drilled down plunge to provide samples for metallurgical test work and since then drilling has been aimed at upgrading and extending the resource and to improve understanding of the quartz tourmaline vein sets that cut the plunging quartz diorite plug and are known to carry high grades.

These latest drill results show that the plunging intrusive body is still open and widening at depth to a true width of close to 100 metres. Recent drill holes have intersected very high-grade mineralization often containing free gold.

The prospect is at an early stage and remains open in all directions. Further lines of reconnaissance holes have been drilled north and south and once assay results are received, a further round of RC drilling will be undertaken.

Over the course of Q2, the company intends to continue its exploration program across the KGP following upon our initial success since November 2022. The new discoveries recently identified will be prioritized to establish their resource potential. At the Gbongogo Main deposit work will also continue towards achieving an initial Indicated Resource. In the background, work is ongoing to expand upon the ESIA and complete the necessary engineering studies required to bring Gbongogo Main to a feasibility study level.

Montage is a Canadian-based precious metals exploration and development company focused on opportunities in Cote d’Ivoire. The Company’s flagship property is the Koné Gold Project in northwest Cote d’Ivoire, covering a total area of 2,258 km2 and which currently hosts a Probable Mineral Reserve of 161.1Mt grading 0.66 g/t for 3.42M ounces of gold. The Company released the results of a Definitive Feasibility Study on the Koné Gold Project on February 14, 2022, outlining a 15-year gold project producing an estimated 3.06M ounces of gold over life-of-mine, with average annual production of 207koz, and estimated peak production of 320koz. The Project also contains an Inferred Mineral Resource of 5.2Mt at 2.1g/t for 351,000oz at 1.2g/t cut off at the Gbongogo Main deposit located 30km north of the Kone deposit.

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