VANCOUVER, BC, May 11, 2021 /CNW/ – Montage Gold Corp.
“We continue to be extremely impressed with the infill drill results, which now includes the best drill result ever generated at the Koné deposit.
“As we have said in previous releases, we expect a high percentage of resource conversion from Inferred to Indicated and this latest batch of drill results continues to affirm that view.
“We expect the expanded drill program to be completed by early July allowing us to prepare the first Indicated Mineral Resource estimate for the Koné deposit in early Q3 which will feed into the Feasibility Study.
Due to the consistency of the mineralization at Koné and our conservative resource modelling approach we expect a high degree of conversion and this is being reflected by the assay results being received.
Throughout the deposit there are large areas of higher grades (>1.0 g/t) such as that intersected by MDD061 and part of the mine sequencing strategy is based on targeting those higher grades while stockpiling lower grade material and maintaining an elevated cut off grade into the plant for the first 5–7 years of the mine life.
Going forward the Morondo Gold Project, which is host to the Koné deposit, will be renamed the Koné Gold Project .
Montage remains fully funded for its business plan through 2021.
The Company’s flagship property is the Koné Gold Project, located in northwest Côte d’Ivoire, which currently hosts an Inferred Mineral Resource of 123Mt grading 0.80 g/t for 3.16Moz of gold, based on a 0.4 g/t cutoff grade.
Samples used for the results described herein have been prepared and analyzed by fire assay using a 50-gram charge at the Bureau Veritas facility in Abidjan, Côte d’Ivoire.
Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties related to fluctuations in gold and other commodity prices, uncertainties inherent in the exploration of mineral properties, the impact and progression of the COVID-19 pandemic and other risk factors set forth in the Company’s final prospectus under the heading “Risk Factors”.