Montage Gold (TSX:MAU) says satellite deposits at its Koné Gold Project in Côte d’Ivoire now host 1.7 million ounces @ 1.5 grams per tonne gold in indicated and 0.8 million ounces @ 1.3g/t gold in inferred resources.
The updated figures mark a significant increase from the 520,000oz at 1.48g/t gold used as the basis for the 2024 Updated Feasibility Study (UFS).
The overall measured and indicated resource for the project has now increased to 6.29 million ounces, with a grade improvement of 27% to 0.80g/t gold.
Meanwhile, inferred resources have increased to 2.03 million ounces, reflecting a 36% grade jump to 0.68g/t gold.
Montage CEO Martino De Ciccio says the company is pleased with the continued progress at the project.
“Construction remains on-budget and ahead of schedule, with first gold pour expected in late Q4 2026,” De Ciccio says.
“In October 2024 we published a target of delineating more than 1 million ounces of measured and indicated resources at a grade at least 50% higher than that of the Koné deposit, and we are very pleased to have already significantly exceeded this target.”
Montage has completed roughly 330,000m of drilling since publishing its 2024 UFS, delineating 12 deposits compared to two previously.
A 90,000m drilling program is underway, and EVP Exploration Silvia Bottero says a “systematic approach” will be used to maximise efficiency.
“Our ongoing exploration program continues to focus on three parallel workstreams: infill and step-out drilling of previously delineated deposits, advancing targets towards maiden resource status, and testing new targets through regional scout drilling.”
The company intends to provide further resource updates throughout the year.
The Koné Gold Project holds an estimated 16-year mine life, with annual production expected to exceed 300,000oz over the first eight years.
Montage Gold is a gold exploration and development company focused on advancing its flagship Koné Gold Project alongside a broader mineral portfolio in Côte d’Ivoire.
Write to Paula Fabe at Mining.com.au
Images: Montage Gold
