Montage Gold (TSXV: MAU) last night announced the latest infill drilling results for its Kone Gold Project, located in Cote d’Ivoire. The company also provided an update on the ongoing feasibility study and current project timelines.
Infill drilling at the Kone Gold project continues to be robust, with a total of seven drill rigs currently in operation. The infill drill program is reportedly now 95% complete, with Montage reporting a total of 49,694 metres completed in aggregate.
The company is currently heavily focused on converting its inferred resource to indicated, with the company currently targeting a conversion rate of 90% for the category. An updated resource estimate based on this extensive drilling is currently slated to be released early in the third quarter of this year.
The company highlighted a number of results from the ongoing program, including:
- MDD066: 230.05m grading 0.93 g/t gold
- MDD068: 241.05m grading 0.77 g/t gold
- MDD069: 301.80m grading 0.60 g/t gold
Outside of the recent drill results, the company also indicated that it currently intends to complete the ongoing feasibility study by year end. To that end, 2,200 kilograms of metallurgical samples are currently being analyzed, while feasibility design and engineering work are currently in progress. The company also anticipates the project to be fully permitted in early 2022 following the filing of an environmental and social impact assessment in the fourth quarter.
Montage Gold last traded at $0.87 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
