- Montage Gold Corp. (OTCQX: MAUTF) expands its 2025 exploration program from 90,000 to 120,000 meters with a US$4 million budget increase.
- Significant increase in Indicated Resources for satellite deposits by 404,000 ounces to 924,000 ounces at 1.32 g/t Au.
- Construction of the Koné project in Côte d'Ivoire proceeds on budget and on schedule for production by Q2-2027.
The latest mid-year exploration update from Montage Gold Corp. for its Koné Project in Côte d'Ivoire reveals substantial progress, particularly in resource expansion. The company has increased its 2025 exploration program to 120,000 meters, up from the initial 90,000 meters, and has already completed 83,280 meters in the first half of the year. The budget for this program has consequently been raised by US$4 million to a total of US$18 million.
The exploration has yielded significant results, with Indicated Resources for satellite deposits growing by 404,000 ounces to 924,000 ounces at 1.32 g/t gold. Inferred Resources have also seen a boost, with an additional 140,000 ounces at 1.09 g/t gold reported. Two key deposits, Gbongogo South and Koban North, have shown impressive results. The Indicated Resources at Gbongogo South have increased by 74,000 ounces to 140,000 ounces at 1.26 g/t gold, while Koban North has delivered a maiden Indicated Resource of 133,000 ounces at 1.07 g/t gold. Both sites continue expansion with ongoing drilling.
The construction phase of the Koné project is advancing well, staying both on-budget and on-schedule. Montage Gold remains optimistic about meeting its previously stated short-term objective of discovering over 1 million ounces of Measured and Indicated Resources at a 50% higher grade than the initial Koné deposit. This milestone is projected to be achieved before production commences in the second quarter of 2027.
