The Koné Gold Project, held under permits, is located approximately 350 km northwest of Yamoussoukro, the political capital of Côte d’Ivoire, and approximately 600 km northwest of Abidjan, the commercial capital of the country.
A resource expansion program began in late November 2022, and is continuing on numerous targets, including Yere North and Gbongogo South, where shallow initial reverse circulation drilling has intersected high-grade intercepts from surface. Concurrently, diamond drilling at the Gbongogo Main deposit (formerly referred to as the Gbongogo deposit) continues to confirm and expand the resource with the most recent deep holes ending in mineralization. Exploration is continuing and has been expanded based upon impressive discoveries since commencement of the program in November, 2022.
Highlights: Drilling at Gbongogo Main delivered wide high-grade intervals and depth extension; diamond core drilling to support resource confirmation and metallurgical testing. GBDD030 returned 233.7 metres at 2.08 g/t from surface (down plunge). GBRC031 returned 152.7 metres at 2.10 g/t from surface (down plunge). Hole GBDD030 extended below prior drilling and ended in mineralization.
Drilling continuing to further test depth potential and engineering parameters. Shallow RC drilling at Gbongogo South defines new target with over 400 metres strike length. MMKAC057 returned 36 metres at 2.45 g/t gold. MMKAC006 returned 21 metres at 3.31 g/t gold.
Shallow RC drilling makes new discovery at Diouma North, located 2 km south of Gbongogo Main. GBRC070 returned 12 metres at 2.64 g/t gold. GBRC071 returned 15 metres at 3.84 g/t gold. GBRC065 returned 23 metres at 1.43 g/t and 22 metres at 1.55 g/t gold.
Shallow RC drilling confirms Yere North target and demonstrates new high-grade potential. MMKAC141 returned 27 metres at 8.97 g/t gold, including 9 metres at 24.58 g/t gold.
General drill program expanded to 40,000 metres with four rigs drilling existing and new targets and expanding the resource at Gbongogo Main.
Rick Clark, CEO, commented: “We have only been exploring on the expanded KGP since November 2022, and have already demonstrated the significant potential for new discoveries which could have a material impact on the KGP economics. These latest drill results more than support our decision to acquire the Mankono joint venture ground from Barrick and Endeavour. Our ongoing exploration continues to generate new target areas at an impressive rate and is proving up and expanding mineralization already identified. Equally significant is the successful ongoing technical drilling at Gbongogo Main which is confirming the high-grade nature of this deposit and expanding its dimensions.
“Our plan is to continue regional, systematic exploration of our large land package looking to identify more zones of economic significance to the KGP. At the same time, we intend to aggressively follow up on our recent discoveries towards including these areas and ounces in our next study update.”
The KGP forms a contiguous block of 1,800 km2 of exploration permits and a further 458 km2 of exploration permit applications, for a total of 2,258 km2, and covers a strike length of over 75 km.
Montage has completed 15,000 metres of a planned program that has been increased to over 40,000 metres. The primary objective of the program is to identify high-grade satellite deposits grading over 1.5 g/t or better that will enhance the large-scale Koné deposit.
Montage is upgrading and expanding the resource at Gbongogo Main and aims to define an indicated mineral resource in the coming months.
Shallow reconnaissance RC drilling (30 metres vertical) forms a major part of Montage’s strategy to evaluate the wider exploration potential of the KGP.
Reconnaissance drilling at Gbongogo South by the company has intersected good widths and grades on two lines coincident with the new interpretation of the regional geology.
Diouma North is located 2 km south of Gbongogo Main and is a new discovery by Montage from mapping out the southern extensions of Gbongogo Main and Gbongogo South. It lies outside historic soil anomalies and clearly illustrates the serious potential of the area beyond historical work conducted by third parties. Results have been received for the first six of eight holes drilled to date.
Montage has completed three lines of shallow RC drilling across this target, confirming the mineralization over a 200 m strike length. Importantly, previously unidentified high-grade bedrock mineralization was intersected at the south end of the prospect.
Over the course of Q2, the company intends to continue exploration across the KGP following upon its initial and exciting success since November 2022.
Montage Gold’s flagship property is the Koné gold project covering 2,258 km2 and currently hosts a probable mineral reserve of 161.1 Mt grading 0.66 g/t for 3.42 M ounces of gold.