TSX: ORG
Last: 0.52
Change: -0.01
Vol: 21,705

Blog

Orca Gold's subsidiary, Montage Gold Corp. doubles mineralized strike and depth of Koné deposit.

Vancouver, British Columbia — January 19, 2021 — Montage Gold Corp. (“Montage” or the “Company”) (TSXV:MAU) is pleased to report the final results of its Phase 1 resource expansion drill program at the Morondo Gold Project (“MGP”) in Côte d’Ivoire. 

“The completion of the Phase 1 expansion drill campaign marks a significant milestone for Morondo. The program has achieved our goal of confirming and further demonstrating the scale potential and simplicity of the Koné deposit. This puts us in a great position for the delivery of the Inferred Mineral Resource update expected by the end of the month,” commented Hugh Stuart, CEO and Director of Montage. 

“In many respects, the Koné orebody is similar to a porphyry gold deposit, with very homogenous mineralization and significant true widths up to 330m. It is an ideal open pit development project that can easily be mined on a large scale at low cost thanks to its very low expected strip ratio, relatively soft rock, and favorable location with respect to access and cheap grid power. In addition, the presence of higher-grade intervals within the wider mineralized envelope gives us the opportunity to process at an elevated cut-off grade during the earlier years of the project and this is something we have been evaluating. We continue to deliver on the plans we set for ourselves at the IPO of Montage and look forward to delivering a robust PEA as the next major milestone for the Company at the end of Q1 2021.”

 

HIGHLIGHTS

 

DETAILS

Phase 1 Resource Expansion Drill Program

The Phase 1 Resource Expansion Drill Program was designed to demonstrate the depth potential of mineralization at the Koné deposit as well as extensions along strike (Figures 1 and 2).

A total of 22,193m of drilling (7,566m of RC and 14,627m of core) has been completed since the October 2018 Inferred Mineral Resource Estimate of 52.5Mt grading 0.91g/t 1,536koz (at a 0.50g/t cut-off) (the “October 2018 Resource”) see October 3, 2018 news release on www.orcagold.com.

This drilling has now established continuity of mineralization to depths of up to 450m from surface and over a strike length of 2.1km, doubling the mineralized strike and depth extent of the Koné deposit.

Subscribe for Company Updates