Montage Gold – 60,000 Meter Drill Program In 2021 Leads To 4.3 Million Ounce Indicated Resource At Kone Gold Project
Hugh Stuart, CEO and Director of Montage Gold Corp (TSX.V: MAU – OTCPK:MAUTF), joins us to review the 2021 company strategy and work at the Kone Gold Project in Cote d’Ivoire. We start with how the 60,000 meters of drilling moved 100% of their resource from inferred up to at 4.3 million ounce indicated resource, reported on August 19th. Hugh then recaps the PEA put out earlier in May of 2021, and how things are improving as the company works towards the Feasibility Study in January of 2022.
We discussed how this year’s drilling confirmed a higher grade core at 0.9 – 1.1 g/t gold than the rest of the depost at an average resource grade of 0.65 g/t gold. In addition, Hugh outlined how the exploration focus moving forward will be to isolate and drill potential higher-grade satellite open pit resources, that can feed into the main project & mill, and have a substantive effect on the project economics.
Next we get into the capital options available for advancing the project through debt, a streaming deal, a JV or strategic partner, or a combination of those, with plans to start the capital raise in Q1 of 2022, after releasing the Feasibility Study to the marketplace. We wrap up with addressing some of the advantages the Company has at the Kone Gold Project as far as a true thickness of 200 meters, simple geology with a low strip ratio, and softer rock to grind with lower energy due to the low silica presence.
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