Announcement • Jun 15
Montage Gold Corp Reports Updated Mineral Resource Estimate For Koné Project Satellite Deposits
Montage Gold Corp. has continued to make higher grade satellite discoveries at its Koné project, in Côte d’Ivoire, where construction remains on-budget and ahead of schedule with first gold pour targeted in late Fourth Quarter 2026. M&I Resources for higher-grade satellite deposits at the Koné project have increased by 1.1Moz to 1.7Moz at 1.51 g/t Au compared to 520koz at 1.48 g/t Au which was used as a basis for the 2024 Updated Feasibility Study whilst Inferred Resources for satellite deposits have increased from nil to 0.8Moz at 1.34 g/t Au. Koné project overall M&I Resource increased by 1.4Moz to 6.3Moz, with grade up 27% to 0.80 g/t Au and Inferred Resources increased by 1.6Moz to 2.0Moz with grade up 36% to 0.68 g/t Au, compared to the basis used for the Updated Feasibility Study. Mineralization intercepted at 25 targets with a growing pipeline of +20 targets still to be drill tested, while 12 deposits have now been delineated compared to 2 in the 2024 Updated Feasibility Study based on a disciplined exploration approach consisting of outlining starter resources to assess grade and size of targets to prioritize subsequent infill and step-out drilling efforts. M&I Resource grades of new discoveries range between 1.3 to 2.0 g/t Au for notable deposits such as Petit Yao (1.51 g/t Au), Gbongogo South (1.47 g/t Au), Soman (1.42 g/t Au), Koban North (1.29 g/t Au), Sena (2.06 g/t Au), Diouma North (1.33 g/t Au), ANV (1.83 g/t Au), Yeré North (2.03 g/t Au), and Lokolo Main (1.92 g/t Au). Step-out and infill drilling has mainly focused on growing M&I Resources at the Gbongogo Main, Gbongogo South, Koban North and ANV deposits with M&I Resources standing at respectively 783koz at 1.51 g/t Au, 230koz at 1.47 g/t Au, 167koz at 1.29 g/t Au and 168koz at 1.83 g/t Au, with further exploration underway. Maiden M&I Resource achieved for Petit Yao of 102koz at 1.51 g/t Au with maiden Inferred Resource of 391koz at 1.28 g/t Au, while drilling is ongoing and mineralised extensions have been identified. Further resource updates are expected throughout the year with a 90,000-meter programme for the year well underway. Construction of the Koné project remains on-budget and ahead of schedule with first gold pour targeted in late Fourth Quarter 2026. Since the publication of the 2024 Updated Feasibility Study, a total of approximately 330,000 metres has been drilled in addition to the 118,525 metres completed prior, focused on discovering higher-grade satellite deposits with the objective of enhancing the production profile of the operation from the commencement of production. M&I Resources for higher grade satellite deposits have increased by 1.14Moz to 1.66Moz at 1.51 g/t Au compared to 520koz at 1.48 g/t Au, which was used as a basis for the 2024 Updated Feasibility Study whilst Inferred Resources for satellite deposits have increased from nil to 766koz at 1.34 g/t Au. As a result, the overall Koné project M&I Resource has now increased by 1.42Moz to 6.29Moz, with grade improving by 27% to 0.80 g/t Au, and Inferred Resources have increased by 1.62Moz to 2.03Moz, with grade increasing by 36% to 0.68 g/t Au, compare to the basis used for the 2024 Updated Feasibility Study. 12 deposits have now been delineated compared to 2 in the 2024 Updated Feasibility Study, while mineralization has been intercepted at 25 targets with a growing pipeline of over 20 exploration targets remaining to be drill tested, across 7 mineralized trends. The ongoing exploration programme continues to focus across three parallel tracks: infill and extension drilling of previously delineated starter deposits, including the more advanced Gbongogo South, Koban North, Soman, Petit Yao and ANV deposits, as well as other previously delineated deposits with starter resources; advancing pre-resource targets toward maiden resource definition, such as at ANIII; and testing new targets across the project’s extensive land package, based on systematic drilling of best selected targets to confirm their potential and define starter resources to validate their grade profiles before undertaking larger step-out drilling campaigns. Gbongogo South deposit on the Gbongogo-Koroutou trend: A total of 6,478 meters of reverse circulation drilling has been completed at Gbongogo South since July 2025, across 35 holes, with the objective of improving resource confidence, extending mineralized envelope extensions and validating the continuity of geological data. Notable drilling intercepts over this period include: 8 meters at 5.09 g/t Au (incl. 1 meter at 12.31 g/t Au and 1 meter at 17.36 g/t Au); 13 meters at 3.50 g/t Au (incl. 1 meter at 25.99 g/t Au); 2 meters at 3.01 g/t Au; 3 meters at 3.86 g/t Au; 3 meters at 1.80 g/t Au; and 3 meters at 1.51 g/t Au; 7 meters at 1.50 g/t Au; 3 meters at 1.19 g/t Au; 2 meters at 2.89 g/t Au; 8 meters at 4.23 g/t Au (incl. 1 meter at 14.81 g/t Au); 4 meters at 1.05 g/t Au; and 5 meters at 0.81 g/t Au; and 5 meters at 2.65 g/t Au; 2 meters at 3.96 g/t Au; 12 meters at 1.55 g/t Au. Koban North deposit on the Gbongogo-Koroutou trend: A total of 3,603 meters of diamond drillhole, reverse circulation and RC-DD drilling has been completed at Koban North since July 2025, across 31 holes, successfully improving resource confidence and extending mineralized envelopes. Notable drilling intercepts over this period include: 6 meters at 1.74 g/t Au; 2 meters at 2.25 g/t Au; and 14.5 meters at 1.65 g/t Au; 6 meters at 1.14 g/t Au; 2 meters at 2.00 g/t Au; 5 meters at 1.86 g/t Au; and 4 meters at 1.81 g/t Au; 10 meters at 5.42 g/t Au (incl. 1 meter at 17.68 g/t Au; and incl. 1 meter at 14.94 g/t Au); and 12 meters at 1.45 g/t Au. Soman deposit on the Gbongogo-Koroutou trend: A total of 21,648 meters of auger, Air Core, reverse circulation and diamond drilling have been drilled at the Soman deposit to date, culminating in the reporting of maiden resources in the Mineral Resource Estimate. Notable intercepts from recent drilling include: 22 meters at 3.52 g/t Au (incl. 1 meter at 16.71 g/t Au; 1 meter at 11.47 g/t Au; 1 meter at 16.75 g/t Au; 1 meter at 11.93 g/t Au); 3 meters at 5.08 g/t Au; and 2 meters at 2.17 g/t Au; 9 meters at 7.03 g/t Au (incl. 1 meter at 47.74 g/t Au); 2 meters at 1.28 g/t Au; and 2 meters at 1.42 g/t Au; 3 meters at 1.25 g/t Au; 10 meters at 2.99 g/t Au; 2 meters at 1.97 g/t Au; 4 meters at 1.21 g/t Au. Petit Yao deposit: Since January 2025, the Company completed 22,434 meters of infill and step-out drilling at the Petit Yao deposit, across 378 holes. Notable intercepts from the recent drilling programme include: 16 meters at 1.24 g/t Au; 12 meters at 2.57 g/t Au (incl. 1 meter at 18.47 g/t Au); and 4 meters at 6.72 g/t Au.
