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Montage Gold acquires Mankono project from Barrick and Endeavour

Published by
Global Mining Review,


Montage Gold Corp. has announced that it has closed the acquisition of a 100% indirect interest in the Mankono Sissédougou joint venture project from subsidiaries of Barrick Gold Corporation and Endeavour Mining plc.

Highlights:

  • With Mankono, consolidated Koné Gold project (KGP) now covers 2258 km2.
  • Drilling has started on Mankono properties:
    • 14 drill-ready targets; 25 000 m of drilling planned.
    • Two drill rigs mobilised to cover six initial target areas.
    • First assay results expected in December.
  • Transaction will expand the KGP:
    • High-grade reserves delineated following planned exploration could significantly improve KGP.
    • KGP economic study will be revised following exploration program.
  • High-Grade Gbongogo priority prospect to be drill tested:
    • Initial inferred mineral resource of 5.2 million t at 2.1 g/t for 351 000 oz at 1.2 g/t cut off.
    • Open in all directions.
    • 30 km trucking distance from Koné deposit.
    • RC drilling targeting strike extensions north and south.
  • Five additional district targets being drilled:
    • Initial RC drilling to be completed before year-end.
    • Target areas include several historic high-grade intercepts, including:
      • Koban North: 20 m at 1.94 g/t, 21 m at 1.67 g/t.
      • Lokolo Main: 20 m at 2.19 g/t ? Sena: 19 m at 1.75 g/t.
  • Sisséplé North anomalies improve with infill soil program:
    • Two anomalies, each over 1 km in strike length, averaging over 100 ppb.
  • Montage welcomes new shareholders Barrick (9.7%) and Endeavour (4.1%).

Rick Clark, Montage CEO commented:

“We are very pleased to be closing the acquisition of Mankono and would like to acknowledge the efforts of Barrick and Endeavour in achieving this result, and to sincerely thank the Government of Côte d’Ivoire for its support of this transaction.

"With the addition of Mankono, our consolidated land position grows to more than 2250 km2 over one of the most prolific gold belts in West Africa at the centre of which is our Koné deposit. Drilling has started on our newly acquired ground looking to add higher grade resources to the Koné development plan. Based on our evaluation of the historic data from Mankono we believe that, in addition to the inferred mineral resource at Gbongogo, the rest of the Mankono land package has the real potential for additional discoveries of 0.8 million oz to 1.2 million oz at similar grades (between 1.5 - 2.5 g/t Au). We very much look forward to reporting on the progress of our aggressive exploration program, which is designed to maximise the potential of a strong economic mining operation centred on Koné."

Read the article online at: https://www.globalminingreview.com/mining/23112022/montage-gold-acquires-mankono-project-from-barrick-and-endeavour/

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African mining news