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Montage Gold Drills 6m grading 10.8g/t Near Surface 8km East of Koné
VANCOUVER, BC, Nov. 16, 2021 /CNW/ - Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) (OTCPK: MAUTF) is pleased to report additional near surface hig
About this update from Montage Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Nov. 16, 2021 /CNW/ - Montage Gold Corp. (\"Montage\" or the \"Company\") (TSXV: MAU) (OTCPK: MAUTF) is pleased to report additional near surface high-grade drill results from the Petit Yao Central target within the Koné Gold Project (\"KGP\") in Côte d'Ivoire. The Company is also pleased to provide an update on the ongoing Feasibility Study and permitting progress at the KGP as well as other exploration activities within the portfolio. Hugh Stuart, Montage CEO commented, \"We continue to be impressed with the high-grade drill results at Petit Yao Central which is showing potential as a satellite pit for the KGP. The mineralization sits near surface, predominantly in oxides, is shallow dipping and is open in all directions. This program will enable us to evaluate the resource potential of Petit Yao Central while we plan to test the strike extensions. \"Within the broader Petit Yao North area, recent soil sampling has identified several kilometres of new anomalism for further testing. Given the success at Petit Yao Central, we are highly encouraged by the potential to identify additional satellite pit targets near the Koné deposit. \"The Feasibility Study for the KGP is progressing well and we expect it to be completed in January 2022. Thus far, the test work and studies completed have largely confirmed the assumptions from the Preliminary Economic Assessment (\"PEA\") from May 2021. We are expecting the maiden Mineral Reserves Estimate to be in-line with in-pit material reported from the PEA, with the production profile in early years improving slightly due to grade improvements demonstrated from the August 2021 Indicated Mineral Resource Estimate. Inflation impacts to operating and capital costs have been observed in some areas, however thus far we are also seeing improvements in other cost areas, driven by optimization work conducted as part of the Feasibility Study.\" HIGHLIGHTS Multiple Shallow High-grade drill results from Petit Yao Central including: MRPYRC030A: 6m grading 10.82g/t Au from 37m MRPYRC039: 3m grading 15.51g/t Au from 28m MRPYRC049: 4m grading 8.31g/t Au from 35m All results within 50m of surface in oxide zone Over 4km strike length of new anomalism to be drill tested in Petit Yao North area. Targets all within 10km from Koné deposit Detailed mapping underway on Faradougou Exploration Lic...