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Montage Gold Increases Inferred Mineral Resource at Koné Deposit to 3.16Moz
VANCOUVER, BC, Jan. 28, 2021 /CNW/ - Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) is pleased to report an updated Inferred Mineral Resource estim
About this update from Montage Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Jan. 28, 2021 /CNW/ - Montage Gold Corp. (\"Montage\" or the \"Company\") (TSXV: MAU) is pleased to report an updated Inferred Mineral Resource estimate for the Koné deposit, at the Morondo Gold Project (\"MGP\") in Côte d'Ivoire and to provide an update of the ongoing Preliminary Economic Assessment (\"PEA\"). Hugh Stuart, CEO and Director of Montage commented, \"The completion of the updated Inferred Mineral Resource at Koné sets the stage for the completion and delivery of the PEA, which the Company is confident will demonstrate the potential and scope of this exciting project. \"With an Inferred Mineral Resource of more than 3Moz grading 0.80g/t Koné has taken a major step forward in terms of scale. The Koné deposit shares many attributes with a porphyry gold deposit that can drive robust production and economics as part of a large-scale mining and processing operation. \"The Koné Inferred Mineral Resource estimate includes a higher-grade component of over 2Moz grading 1.1g/t. This higher-grade mineralization is expected to give the Company flexibility with respect to processing at an elevated cut-off grade in the early years of the mine, thereby maximizing project economics. The simplicity of the project, the potential for large scale mining at low unit costs, solid metallurgy and access to grid power are all combining towards the development of a solid economic project that has excellent exploration upside; Koné is the first anomaly within Montage's 1,442km2 MGP land package to receive any significant drilling.\" HIGHLIGHTS Inferred Mineral Resource estimate comprises 123Mt grading 0.80g/t for 3.16Moz of gold at a 0.40g/t cut-off grade. The estimate includes a higher-grade component of 57.5mt grading 1.1g/t for 2.03Moz of gold at a 0.70g/t cut-off grade. Koné remains open along strike and at depth. 35,000m drill program underway targeting further growth in resources and an upgrade to the Indicated category The Inferred Mineral Resource and preliminary results from aspects of the PEA demonstrate positive attributes of the Koné deposit. Geotechnical study provides for steeper pit walls with the potential to reduce strip ratio Comminution study confirms initial testing Hydrology study confirms minimal pit water inflows and sufficient water supply for process plant Metallurgical recovery test work nearing ...