Montage Gold: Pursuing Higher-Grade Resources for Enhanced Production

Montage Gold Corp. (TSXV: MAU) has set an ambitious short-term discovery target of over 1 million ounces of higher-grade measured and indicated (M&I) resources at its Koné project in Côte d'Ivoire. The company's exploration strategy aims to enhance the project's production profile by delineating higher-grade satellite targets that can supplement production from the commencement of operations.

Key exploration targets and drill results support Montage's short-term discovery target. Mineralization has been confirmed at all 14 targets drilled since the start of the year, with 52 exploration targets now identified on the property. The Gbongogo deposit's southern mineralized extension was confirmed, with results including 9m at 5.01 g/t Au, 13m at 1.53 g/t Au, and 9m at 1.75 g/t Au. The ANV target confirmed a 1km long mineralized trend, with results including 51m at 2.00 g/t Au, 13m at 4.00 g/t Au, 17m at 1.86 g/t Au, and 23m at 2.30 g/t Au. High-grade mineralization was also confirmed at the Lokolo Main and Diouma North targets.

Montage plans to delineate maiden resources across several targets by year-end, aiming to achieve its discovery goal. A second 60,000m drill programme was launched in September 2024, focusing on delineating resources at several targets and further drill testing of other targets. This programme is crucial for Montage's exploration efforts, as it will help the company rapidly delineate maiden resources and potentially discover over 1 million ounces of higher-grade M&I resources.

The discovery of higher-grade resources at satellite targets significantly impacts the Koné project's overall production profile. By integrating these higher-grade resources into the mine plan, Montage can enhance the project's economics and potentially extend its mine life. The expected timeline for delineating maiden resources aligns with the project's construction schedule, as Montage aims to start construction in early 2025.

The strategic investments by Zijin Mining and the Lundin Family Trusts further strengthen Montage's exploration and development plans. Zijin's investment of C$57.3 million for a 9.9% stake and the Lundin Family Trusts' investment of C$43.0 million to increase their stake from 17.7% to 19.9% demonstrate the potential of the Koné project. These investments provide Montage with a strengthened balance sheet, enabling the company to rapidly progress the Koné project towards construction and continue exploring higher-grade targets.

The synergies between the Koné deposit and the exploration targets contribute to the project's long-term economic viability. The low expected process cost per tonne in the mill provides a significant advantage when evaluating district exploration targets. Satellites grading 1.5 g/t or higher can have a dramatic economic impact, even when small in size. As Montage continues to unlock the potential of the Koné district, it is expected that multiple satellites will supplement mill feed at higher grades, boosting production, expanding margins, and extending the overall project life for the benefit of all stakeholders.