Business
Montage Gold Successfully Upgrades Mineral Resources at Gbongogo Main; Total Indicated Mineral Resources at Koné Gold Project Approach 5 Million Ounces
VANCOUVER, BC, Sept. 7, 2023 /CNW/ - Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) (OTCQX: MAUTF) is pleased to report an updated Mineral Resource
About this update from Montage Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Sept. 7, 2023 /CNW/ - Montage Gold Corp. (\"Montage\" or the \"Company\") (TSXV: MAU) (OTCQX: MAUTF) is pleased to report an updated Mineral Resource Estimate (\"MRE\") for the Company's Koné Gold Project (\"KGP\") in Côte d'Ivoire. The update represents the first Indicated Mineral Resource at Gbongogo Main of 12.0Mt grading 1.45g/t for 559koz (at a 0.50g/t cut-off grade, the \"September 2023 Gbongogo Main MRE\"). The Company is also pleased to update its shareholders on initiatives to progress the KGP towards a development decision in early 2024. HIGHLIGHTS Recent drilling at Gbongogo Main achieves a high level of resource conversion from Inferred to Indicated and sees an increase in grade Indicated Mineral Resource of 12.0Mt grading 1.45g/t for 559koz (at 0.50g/t cut-off grade) Grade improves by +10% over April 2022 Gbongogo Main MRE Anticipated strong positive impact on KGP production profile and economics Further drill testing of high-grade veins at Gbongogo Main expected to increase deposit grade even more Feasibility-level metallurgical testing returns positive results Total combined Indicated Mineral Resources at Koné Gold Project grow to 4.83Moz plus additional Inferred Mineral Resources of 0.32Moz (see Table 3 for disclosure) Montage strengthens management team with addition of Mike Robinson as Côte d'Ivoire Country Manager Former Country Manager for Red Back Mining in Mauritania; oversaw development and expansion of Tasiast Project Over 40 years of experience in mining operations management, engineering, maintenance and administration Montage continues to advance and de-risk the KGP Permitting activities have been ongoing over last several months Formal submission of ESIA planned for October 2023 Updated DFS targeted for release by year-end 2023 Project finance discussions have commenced Corporate headquarters established in Toronto Multiple targets within KGP identified for future exploration Rick Clark, Montage CEO commented, \"The upgrade of the Gbongogo Main deposit is a significant milestone for Montage and the KGP, with Indicated Mineral Resources now nearly 5 million ounces across the project. We are very pleased with the successful conversion of Gbongogo Main resources from Inferred to Indicated and the 10% increase in grade and that has the potential...