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Montage Gold Corp. reports Infill Drill results and Feasibility look at replace | BE-100W Study Guide and Free test PDF

categorized in: Mining industry, Covid-19 virus

VANCOUVER, BC, June 22, 2021 /CNW/ - Montage Gold Corp. ("Montage" or the "enterprise") (TSXV: MAU) (OTCPK: MAUTF) is blissful to record extra effects from the enterprise's infill drill program and an replace on the continued Feasibility study at the Koné Gold undertaking ("KGP") in Côte d'Ivoire.

Hugh Stuart, Montage CEO commented, "Infill drilling on the KGP is nearing completion and management is still totally inspired by means of the consequences, which are constantly demonstrating huge homogenous mineralization all over the deposit. the important thing query at this stage of any venture is how a good deal of the Inferred Mineral aid will convert to the Indicated Mineral useful resource class to guide the calculation of a Mineral Reserve estimate. Given the nature of the mineralization and the conservatism of our modelling method we predict a conversion rate of over 90%, and effects to this point assist this view. The business is on target for the calculation of the maiden Indicated Mineral useful resource estimate in early Q3 of this year.

"big progress is also being made in recognize of the Feasibility examine. Geotechnical drilling has been accomplished, hydrological drilling is in progress and a pair of,200kg of metallurgical samples were despatched to SGS Lakefield in Canada for Feasibility stage leach and comminution variability checking out. Lycopodium Minerals Pty Ltd. ("Lycopodium") and Knight Piesold have also commenced feasibility stage design and engineering.

"With the completion and submitting of the Preliminary financial assessment (the "PEA"), the enterprise is pressing complicated on the work to develop and de-possibility the KGP. administration expects the Feasibility examine to be achieved via yr-conclusion 2021 and to have a completely-accepted undertaking in early 2022."

HIGHLIGHTS

newest outcomes from infill software continue to ascertain, or Boost upon, present mineralization within the core of the Koné deposit, including:

MDD066: a hundred and five.00m grading 1.10g/t within 230.05m grading 0.93g/t

MDD068: 111.00m grading 1.04g/t within 241.05m grading 0.77g/t

MDD069: seventy seven.15m grading 0.80g/t inside 301.80m grading 0.60g/t

Feasibility analyze look at various work progressing.

a hundred thirty five metallurgical samples (2,200kg) despatched to SGS Lakefield for leach and comminution variability application;

Geotechnical drilling accomplished;

Hydrological drilling in growth; and

Feasibility stage design and engineering work commenced through Lycopodium and Knight Piesold.

ESIA and allowing efforts continue to improve.

group consultations have commenced;

ESIA connected box work is comprehensive; and

permitting guide has been engaged.

details

Infill Drill outcomes

Montage has been at all times drilling on the grounds that January 2021 with as many as seven drill rigs in operation. The improved infill drill software is now 95% complete with a complete of 49,694m drilling now completed (30,267m core, 19,427m RC). All assays are anticipated to be acquired by using late July.

The simple aim of this infill software is to Boost the current Inferred Mineral aid to the Indicated Mineral useful resource category in help of the ongoing Feasibility analyze. because of the consistency of mineralization at Koné and our conservative resource modelling approach we predict a excessive diploma of conversion, and this has been bolstered by way of the assay consequences we've been receiving right through the program.

The infill area shown under suggests the January 2021 Inferred Mineral useful resource model overlain with results from drilling accomplished considering that point and colored in the same manner. The grade profile in each the resource mannequin and infill drill assays are very an identical and support our expectation that +ninety% of the Inferred Mineral resource estimate will be converted to the Indicated Mineral resource class.

Figure 1: Koné deposit cross-section 4850 with infill drill results highlighted. (CNW Group/Montage Gold Corp)

additionally, drill holes had been centered to test the depth extension of mineralization under the present PEA Pit design. because the area above additionally indicates the present PEA pit design lies very close to the bottom of the useful resource model and has the talents to head deeper featuring additional upside to the task. The comprehensive table of drill effects suggested in this unlock is blanketed as Appendix 1.

Feasibility study update

several work programs are underway in support of the continuing Feasibility analyze for the KGP, together with design and engineering presently underway by way of Lycopodium and Knight Piesold. The Feasibility analyze is targeted for completion with the aid of the conclusion of 2021.

The business has shipped one hundred thirty five samples totalling 2,200kg of cloth to SGS Lakefield in Ontario, Canada for leaching and comminution variability trying out. These samples were chosen to be representative of the grade profile and rock styles of the Koné deposit to stronger assist the estimates that may be integrated into the Feasibility examine. Montage has already conducted a big volume of variability checking out, in accordance with forty three comminution samples and 39 leach samples. Prior trying out has confirmed that the Koné deposit mineralization can deliver high gold recoveries with low reagent consumptions and medium-low resistance to grinding provide favourable processing economics and a simple flowsheet.

an extra two holes (650m) were drilled to finished the Feasibility examine geotechnical drilling program. Prior testwork has decided that the host rock is extraordinarily in a position with minimal faulting supportive of pit wall angles of fifty five° for the putting wall and footwall, a key driver of the projected low strip ratio of 0.93:1.

additional hydrology drilling and test work is being carried out and prior hydrology trying out completed by using GCS (Pty) Ltd. determined that in-pit water inflows were manageable.

permitting Efforts

The ESIA is advancing, and all field connected work is now comprehensive. the public session method has commenced, and the company lately presented to 11 government institutions that may be involved in the environmental and mining permitting manner. support for the mission so far has been very strong from all stakeholder companies and Montage will continue to interact with native communities and government bodies as the permitting system advances.

The business anticipates the submission of the ESIA in this fall 2021 together with the mining let software. in keeping with precedent, the business believes it will be possible to have both environmental and mining makes it possible for in hand in early 2022. To help these efforts, Montage has engaged a native permitting guide who has experience working with a couple of mid-tier and larger mining agencies in Côte d'Ivoire.

ABOUT MONTAGE GOLD CORP.

Montage is a Canadian-primarily based valuable metals exploration and building business focused on alternatives in Côte d'Ivoire. The enterprise's flagship property is the Koné Gold assignment, found in northwest Côte d'Ivoire, which currently hosts an Inferred Mineral aid of 211Mt grading 0.59g/t for four.00Moz of gold, in accordance with a 0.20g/t cutoff grade (please see the NI forty three-101 Technical file titled "Preliminary financial assessment for the Koné Gold assignment" attainable on the company's website at www.montagegoldcorp.com and beneath the company's profile at www.sedar.com). Montage has a management team and board with big journey in discovering and setting up gold deposits in Africa. The company is impulsively progressing work programs at the Koné Gold venture against completion of a Feasibility look at by way of the conclusion of 2021.

qualified folks commentary

The technical contents of this liberate had been permitted with the aid of Hugh Stuart, BSc, MSc, a professional person pursuant to national Instrument 43-a hundred and one. Mr. Stuart is the executive government Officer of the enterprise, a Chartered Geologist and a Fellow of the Geological Society of London. Samples used for the results described herein have been organized and analyzed via fireplace assay the use of a 50-gram can charge at the Bureau Veritas facility in Abidjan, Côte d'Ivoire and at Intertek in Tarkwa Ghana. box reproduction samples are taken and blanks and requisites are introduced to every batch submitted.

Neither the TSX project trade nor its rules capabilities issuer (as that time period is defined within the guidelines of the TSX challenge exchange) accepts accountability for the adequacy or accuracy of this release.

forward looking STATEMENTS

This press unlock includes certain ahead-searching suggestions and forward-searching statements inside the which means of Canadian securities law (at the same time, "forward-looking Statements"). All statements, apart from statements of historic reality, represent forward-searching Statements. words equivalent to "will", "intends", "proposed" and "expects" or identical expressions are intended to establish ahead-searching Statements. ahead looking Statements during this press release encompass statements related to the company's aid homes, and the company's plans, center of attention and objectives. forward-searching Statements contain a number of hazards and uncertainties and are in keeping with certain components and assumptions. There may also be no assurance that such statements will prove to be accurate, and exact results and future pursuits could vary materially from those anticipated in such statements. vital elements that could trigger specific results to vary materially from the enterprise's expectations consist of uncertainties related to fluctuations in gold and different commodity fees, uncertainties inherent in the exploration of mineral homes, the have an impact on and progression of the COVID-19 pandemic and other chance components set forth within the company's final prospectus under the heading "possibility elements". The enterprise undertakes no responsibility to update or revise any ahead-searching Statements, whether on account of new counsel, future movements or in any other case, except as may well be required via legislations. New factors emerge every now and then, and it is not possible for Montage to predict all of them, or determine the have an effect on of each such aspect or the extent to which any factor, or aggregate of elements, can cause outcomes to vary materially from these contained in any forward-looking observation. Any ahead-searching Statements contained in this press release are expressly certified of their entirety by this cautionary statement.

APPENDIX 1: Core Drilling consequences for Assays bought after the may additionally 11, 2021 Press free up

word: Bolded intervals symbolize the entire mineralized width of the Koné deposit Intercepts are +90% of authentic width Grid: WGS84 UTM Zone 29N

gap

Collar place

Depth

Orient

Down-hole Intercept (m)

Au g/t

mRl

(m)

Az/Dip

From

length

Uncut

MRGT006

756,661

964,406

374

251.eight

121/-sixty one

0.00

174.00

0.34

6.00

38.85

32.85

1.03

MDD063

756,437

964,743

386

503.eight

127/-fifty eight

283.30

471.00

187.70

0.eighty

283.30

300.00

sixteen.70

1.30

316.eighty

337.65

20.85

0.49

366.55

400.10

33.fifty five

1.fifty eight

406.00

447.00

forty one.00

1.15

456.45

471.00

14.55

0.70

MDD065

756,415

964,390

376

341.7

126/-56

a hundred and fifty.00

318.00

168.00

0.24

MDD066

756,480

964,592

380

440.7

one hundred twenty five/-fifty seven

206.95

437.00

230.05

0.ninety three

219.00

324.00

one zero five.00

1.10

342.00

362.00

20.00

0.eighty one

four hundred.seventy five

437.00

36.25

1.seventy four

MDD067

756,512

964,203

369

260.8

125/-fifty five

86.00

260.eighty

174.80

0.39

182.00

260.80

78.eighty

0.fifty one

MDD068

756,585

964,640

380

426.1

127/-fifty seven

one hundred thirty.20

371.25

241.05

0.77

142.00

253.00

111.00

1.04

298.00

330.00

32.00

0.86

349.00

371.25

22.25

0.sixty five

MDD069

756,430

964,628

382

530.eight

128/-fifty eight

229.00

530.eighty

301.eighty

0.60

229.00

306.15

seventy seven.15

0.80

325.00

402.00

77.00

0.eighty

442.00

494.00

52.00

0.fifty two

MDD070

756,558

964,352

374

317.7

126/-fifty six

fifty three.00

297.00

244.00

0.23

53.00

72.seventy five

19.seventy five

0.64

ninety.00

a hundred and ten.95

20.95

0.forty three

275.00

301.00

26.00

0.40

MDD071

756,360

964,431

375

410.7

127/-58

254.00

360.25

106.25

0.29

MDD072

756,380

964,661

383

542.8

127/-fifty eight

304.00

516.00

212.00

0.sixty five

333.00

353.00

20.00

0.eighty two

392.00

433.00

forty one.00

0.sixty two

445.00

458.00

13.00

0.71

466.00

516.00

50.00

1.23

MDD073

756,309

964,588

380

519.0

128/-59

318.ninety

519.00

200.10

0.64

358.00

401.00

43.00

1.12

405.25

421.00

15.75

1.15

431.00

461.00

30.00

1.04

472.00

491.00

19.00

0.72

MDD074

756,373

964,545

379

489.1

127/-fifty eight

254.00

447.00

193.00

0.66

276.00

361.00

eighty five.00

0.68

370.00

424.00

fifty four.00

0.ninety five

MDD077

756,712

964,977

394

329.6

126/-56

59.00

275.00

216.00

0.44

a hundred and ten.00

129.55

19.fifty five

0.sixty six

139.20

146.00

6.eighty

1.49

one hundred fifty five.00

164.30

9.30

0.83

210.00

219.30

9.30

1.07

225.25

233.00

7.seventy five

0.74

MDD078

756,818

964,967

394

230.7

126/-fifty seven

fifty nine.20

183.eighty five

124.sixty five

0.91

59.20

one hundred.00

40.80

1.06

108.65

142.00

33.35

1.01

MDD080

757,275

965,921

379

95.7

123/-54

41.00

82.00

41.00

0.40

MDD081

757,223

965,835

375

119.7

127/-56

6.00

27.00

21.00

0.forty four

MDD082

757,279

965,794

372

45.8

126/-56

No colossal Intercept

MDD083

757,236

965,710

368

forty five.eight

125/-55

No colossal Intercept

MDD084

757,121

965,557

374

seventy five.eight

126/-fifty six

33.50

fifty nine.00

25.50

1.15

MDD085

757,030

965,364

378

60.9

a hundred twenty five/-fifty six

3.00

34.00

31.00

0.sixty one

MDD086

756,992

965,392

377

a hundred and one.eight

124/-fifty seven

seventy four.00

ninety eight.00

24.00

0.78

MDD087

756,870

964,991

392

182.6

127/-fifty six

sixteen.00

32.00

sixteen.00

0.65

fifty seven.25

sixty eight.00

10.seventy five

0.seventy four

89.ninety

one hundred twenty.85

30.ninety five

1.28

MDD088

756,423

964,511

378

429.4

127/-fifty eight

206.00

402.00

196.00

0.64

206.00

214.00

eight.00

0.sixty six

348.eighty

402.00

fifty three.20

1.01

MDD089

756,247

964,632

383

600.0

129/-fifty eight

382.00

576.00

194.00

0.fifty two

382.00

426.00

44.00

1.23

430.00

469.00

39.00

0.49

485.00

507.00

22.00

0.57

MDD090

756,323

964,701

390

569.eight

127/-58

368.forty

567.00

198.60

0.57

368.forty

404.00

35.60

0.75

448.00

519.00

seventy one.00

0.seventy eight

539.00

567.00

28.00

0.fifty five

MDD092

756,389

964,837

393

551.8

129/-59

321.00

525.00

204.00

0.seventy two

431.00

473.00

42.00

1.sixty nine

485.00

495.00

10.00

1.16

515.35

524.00

8.65

3.17

MDD093

756,861

964,seven-hundred

380

302.6

129/-fifty seven

0.00

181.10

0.78

0.00

22.00

0.eighty five

39.00

78.00

39.00

0.59

105.00

124.seventy five

19.75

three.24

MDD094

756,471

964,476

379

441.2

129/-58

a hundred and seventy.00

314.35

one hundred forty four.35

0.forty four

one hundred seventy.00

a hundred ninety.00

20.00

0.forty seven

209.00

245.35

36.35

0.seventy three

Montage Gold Corp Logo (CNW Group/Montage Gold Corp)

source Montage Gold Corp

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