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Montage Gold Reports Maiden Indicated Mineral Resource of 4.27Moz
VANCOUVER, BC, Aug. 19, 2021 /CNW/ - Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) (OTCPK: MAUTF) is pleased to report the updated Mineral Resourc
About this update from Montage Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Aug. 19, 2021 /CNW/ - Montage Gold Corp. (\"Montage\" or the \"Company\") (TSXV: MAU) (OTCPK: MAUTF) is pleased to report the updated Mineral Resource Estimate (\"MRE\") for the Company's Koné Gold Project (\"KGP\") in Côte d'Ivoire. The update includes a maiden Indicated Mineral Resource of 225Mt grading 0.59g/t for 4.27Moz and an Inferred Mineral Resource of 22Mt grading 0.45g/t for 0.32Moz (at a 0.20g/t cut-off grade). Hugh Stuart, Montage CEO commented, \"The updated MRE for the KGP has exceeded expectations in all regards. Our goal was to demonstrate a high level of conversion from Inferred to Indicated and we have exceeded our objective with 100% conversion and additional resource growth. It is also significant that the grade profile of the deposit has remained consistent with grades used in the Preliminary Economic Assessment (\"PEA\") released in May of this year. \"The KGP continues to demonstrate the benefits of scale with its wide zones of homogenous mineralization (true widths exceeding 250m in areas) and a low strip ratio (less than 1:1). In addition, with over 100,000m of drilling now completed we have more detail and a better understanding of the higher-grade areas of the deposit. \"Overall, this updated MRE sets the stage for the upcoming Feasibility Study targeted for year-end 2021. The transition from an Inferred resource estimate to a maiden Indicated resource is a critical step towards the Company's first Mineral Reserve estimate, which will form the basis of the Feasibility Study. We believe this achievement demonstrates not only the quality of the KGP, but the ability of Montage to plan, execute and deliver on the milestones we have set out.\" HIGHLIGHTS Maiden Indicated Mineral Resource estimate comprises 225Mt grading 0.59g/t for 4.27Moz at a 0.20g/t cut-off grade 100% conversion from January 2021 Inferred Mineral Resource estimate Higher grade component of deposit increases in size, grade and confidence level Indicated Mineral Resource estimate includes 77Mt grading 1.0g/t for 2.55Moz at a 0.60g/t cut-off grade Updated Inferred Mineral Resource estimate comprises 22Mt grading 0.45g/t for 0.32Moz at a 0.20g/t cut-off grade Exploration strategy at KGP now shifts from infill to growth. Feasibility Study on track for delivery by year-end 2021. DETAILS Updated Mineral ...