Higher Grade Satellite Deposits At Koné Project

ABIDJAN, CÔTE D’IVOIRE - Montage Gold Corp. reported on the Koné project exploration program, in Côte d’Ivoire, which has provided significant confidence in achieving previously published short-term exploration target of discovering more than 1Moz of Measured and Indicated Resources, at a grade 50% higher than the Koné deposit. The goal of further improving the production profile from the commencement of production in Q2-2027.

A total of 81,815 meters were drilled in 2024, amounting to US$13 million, under the leadership of the new management team, with the goal of delineating resources at selected advanced targets, in addition to continuing to drill test and progress other targets. Given the extensive 2,138km2 land package encompassing over 52 identified targets, the approach undertaken is to systematically drill test best selected targets to confirm their potential and define starter resources to validate their high-grade content before undertaking larger step-out drilling campaigns. Consequently, 18 targets were drill tested last year, which successfully delineated starter resources for 7 higher grade satellite deposits, while another 6 targets have advanced to the pre-resource definition stage and are currently being followed up.

As a result, the Koné project now hosts 8 satellite deposits, inclusive of the Gbongogo Main deposit. Efforts on the new satellite deposits have added 160koz at 1.16 g/t Au and 270koz at 1.0 g/t Au of Indicated and Inferred Resources, respectively, at grades ranging between 0.9 and 1.6 g/t Au, or between approximately 60% and 180% higher than the Koné deposit. All deposits delineated remain open as the focus was to delineate only a small portion of the orebodies to assess the grade profiles in order to prioritize 2025 drill efforts.

In addition, exploration efforts at the Koné deposit resulted in adding near-surface mineralization and confirming mineralization at depth. The Koné deposit Indicated Resource increased by 150koz to 4.49Moz at 0.57 g/t Au while the Inferred Resource increased by 110koz to 0.51Moz at 0.43 g/t Au. Coupled with the resource additions for the satellite deposit, the Koné project’s Indicated Resources grew by 340koz to 5.21Moz at 0.62 g/t Au and Inferred Resources grew by 380koz to 780koz at 0.54 g/t Au.