Montage Gold Corp (TSXV: MAU) this morning released the first drill results from its ongoing 35,000 metre infill drilling program at its flagship Morondo Gold Project. Highlight drill results include 122.0 metres of 1.19 g/t gold among others.
The infill drill program is now roughly 50% complete as of this morning, with the company anticipating the completion of a preliminary economic assessment by mid-May 2021, with a revised mineral resource slated for the third quarter of 2021. The drill program is expected to be completed by June at the current rate.
Results released this morning reportedly contain five holes among the top ten drilled at the Kone deposit to date, with the highlighted hole, MDD037, having a total intersection of 239.1 metres at 0.88 g/t gold. Also highlighted were five other holes, all of which had intersections in excess of 200 metres in length.
The company reportedly remains fully funded for its 2021 initiatives, with a cash balance as of the end of February of $30 million.
Montage Gold last traded at $0.71 on the TSX Venture.
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