VANCOUVER, BC, Sept. 8,
2022 /CNW/ - Montage Gold Corp. ("Montage" or
the "Company") (TSXV: MAU) (OTCQX: MAUTF) is pleased to announce
that on September 6, 2022, the
Ivorian Council of Ministers approved the award of the Gbongogo and
Sisséplé Exploration Permits to the Mankono-Sissédougou Joint
Venture ("Mankono"). Public disclosure of these awards can be
viewed at the following url: https://rti.info/politique/13686. This
marks a critical step in the process towards closing of the
previously announced acquisition of Mankono by Montage (the
"Transaction", see press release dated June
8, 2022, for more details). Montage expects to close the
Transaction in the coming weeks, following receipt of the signed
Presidential decree in respect of the Gbongogo Exploration Permit.
With the granting of the Mankono permits now approved, Montage is
pleased to provide disclosure of the extensive historic database of
results from Mankono for the first time, as well as details of the
Company's exploration plans and strategy.
HIGHLIGHTS
- Mankono exploration permits approved by Government of
CDI
-
- Transaction to close following receipt of signed Presidential
decree; expected in coming weeks
- 14 drill-ready targets; initial 25,000m of drilling planned
-
- Drill rig mobilization by end of September
- 65km strike length of soil anomalism
- US$20M in historic exploration
with large database
- Transaction will expand Koné Gold Project ("KGP")
-
- High-grade reserves delineated following further exploration
could significantly improve KGP
- KGP economic study will be revised following aggressive
exploration program
- Gbongogo prospect gives high-grade head start 30km from Koné
deposit
-
- Numerous significant intercepts, including:
-
- 135.2m at 2.63g/t from
1m
- 92m at 2.99g/t from 33m
- 77m at 2.48g/t from 61m
- Initial Inferred Mineral Resource of 5.2Mt at 2.1g/t for
351,000oz at 1.2g/t cut off
-
- Other top priority targets with high-grade drill results,
include:
-
- Sissédougou: 60m at 2.63g/t
- Bafretou South: 17m at 3.28g/t on
strike 6km from Koné deposit
- Dokeka: 13m at 26.80g/t
- Lokolo South: 2m at 32.20g/t
- Lokolo Main: 20m at 2.19g/t
- Koban North: 20m at 1.94g/t
Rick Clark, Montage CEO
commented, "We are very pleased to have received notice of
the approval of the Mankono exploration permits and look forward to
closing the Transaction with Barrick and Endeavour upon receipt of the Presidential
decree. We very much appreciate the support of the Government of
Côte d'Ivoire towards accomplishing this.
"With the addition of Mankono, our consolidated land position
grows to more than 2,250km2 over one of the most
prolific gold belts in West
Africa, all of which is within haulage distance of the
expanded Koné Gold Project. We intend to explore aggressively to
prove up multiple satellite targets and the high-grade Gbongogo
deposit which remains open in all directions gives us an excellent
head start. Based on our evaluation of the historic data we believe
that, in addition to the initial Inferred Mineral Resource at
Gbongogo, the Mankono package has real potential for further
discoveries of 0.8Moz to 1.2Moz at a grade of between 1.5g/t and
2.0g/t*. Given the average mineral reserve grade of the Koné
deposit of 0.66g/t, the addition of higher grade reserves from
Mankono could significantly improve the economics of the KGP going
forward."
*This potential quantity and grade are presently conceptual in
nature, and there has been insufficient exploration to define such
a mineral resource and it is uncertain if further exploration will
result in the target being delineated as a mineral resource. The
potential quantity and grade were developed based on a review of
available historic data, grade, intersected widths, and possible
strike extent at the various prospects and the overall
prospectivity of the land package.
DETAILS
Overview of Mankono-Sissédougou Joint
Venture Project
Figure 1: Consolidated Land Position
Mankono consists of the Sissédougou Exploration Permit (PR842,
387km2) issued in 2019, the Gbongogo Exploration Permit
(400km2) and the Sisséplé Exploration Permit
(106km2) which are all contiguous with Montage's Koné
Gold Project as shown in Figure 1. Taken together with Montage's
existing land holdings they form a block of 1,800km2 in
exploration permits and a further 458km2 in exploration
permit applications for a total of 2,258km2.
The Gbongogo area has been explored by Randgold (Barrick) since
2013 and the Sissédougou and Sisséplé areas by Endeavour and previously La Mancha Resources
since 2010. The Mankono Joint Venture was formed in 2017 and
exploration has been managed by Barrick since that time.
The database of the historic work includes over 36,000 soil
samples, 15,500m of trenching and
31,000m of air core drilling. Notably
only 6,000m of Reverse circulation
("RC") drilling and 8,560m of diamond
core drilling has been completed most of which is on the Gbongogo
prospect. Historic exploration spending on the combined land
package is approximately US$20
million. Figure 2 shows the consolidated land package with
target areas and highlighted results.
Figure 2: Exploration Target Areas
Gbongogo Prospect – Immediate
High-Grade Impact
The Gbongogo prospect, which lies 30km north of Koné, hosts an
initial Inferred Mineral Resource of 5.2Mt grading 2.1g/t for
351koz and is the primary target for resource expansion and
upgrade. Montage expects that this prospect can be expanded quickly
and has an initial program of 4,000m
planned in pursuit of this objective.
Mineralization at Gbongogo is hosted within and on the margins
of a plunging quartz diorite plug with a surface expression of only
250m by 100m (see Figure 4). Table 1 Table 1 shows
intercepts from historic drilling and trenching results. Complete
results are presented in Appendix 1 to this release.
Table 1: Drill and Trench Results from Gbongogo
Hole
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au g/t
|
Comments
|
GBRC013
|
33
|
125
|
92
|
2.99
|
Including 16m at
10.0g/t from 61m
|
GBDDH002
|
0
|
86.8
|
86.8
|
1.61
|
|
GBDDH004
|
61
|
138
|
77.0
|
2.48
|
Including 9.8m at
10.7g/t from 85.4m
|
GBDDH005
|
13
|
58
|
45.0
|
1.07
|
|
GBDDH006
|
81
|
178.6
|
97.6
|
1.28
|
|
GBDDH007
|
1
|
136.2
|
135.2
|
2.63
|
Including 16.9m at
10.6g/t from 61.2m. Down plunge hole
|
GBDDH009
|
86.65
|
142.4
|
55.75
|
1.81
|
|
GBDDH017
|
241
|
338
|
97.0
|
0.79
|
|
GBDDH019
|
271.9
|
362.8
|
90.9
|
0.77
|
|
GBDDH022
|
221
|
288
|
67.0
|
0.64
|
|
GBDDH020
|
1.3
|
422
|
420.7
|
1.33
|
Down plunge hole
(ends in mineralization)
|
GBTR012
|
25
|
85.5
|
60.5
|
0.53
|
Trench
|
GBTR017
|
8.65
|
57.4
|
48.75
|
1.93
|
Trench
|
GBTR014
|
12
|
113
|
101
|
1.93
|
Trench
|
GBTR003
|
10
|
113
|
103
|
1.29
|
Trench
|
GBTR007
|
0
|
91.5
|
91.5
|
1.54
|
Trench
|
Note: True widths vary between 60 and 100% of downhole
intercepts with exception of down plunge holes. Intercepts for
holes GBDDH002, GBDDH007 and GBDDH020 include un-assayed gaps,
which have been assigned the average intercept grade.
High grades are controlled by two distinct groups of
quartz-tourmaline veins with scope to develop the grade with well
placed drilling. The plunging quartz diorite plug is also yet to be
fully defined by drilling. Furthermore, given the small surface
expression there is the potential for other similar intrusive
bodies to be present within the north-south trend that hosts
Gbongogo that could have been missed on widely spaced first pass
exploration and it will be a priority to follow up in this
area.
Initial Inferred Mineral Resource Estimate
Montage commissioned a Mineral Resource Estimate ("MRE") by MPR
Geological Consultants of Perth,
Australia ("MPR") based on the historic drill database. MPR
estimated recoverable mineral resources using Multiple Indicator
Kriging ("MIK") based on a dataset that includes 6,142.4m drilling (4,827.4m of diamond core and 1,315m of RC).
The Inferred MRE is reported within an optimized pit shell based
on a US$1,500/oz gold price and is
shown below at a range of cut-off grades. A cut-off grade of 1.2g/t
is the base case scenario.
Table 2: Inferred Mineral Resource Estimate by Cut-off
Grade
Cut-off Grade
|
Inferred
|
Au g/t
|
Mt
|
Au g/t
|
Au Koz
|
0.20
|
20
|
0.97
|
624
|
0.35
|
16
|
1.1
|
566
|
0.40
|
15
|
1.2
|
579
|
0.60
|
11
|
1.4
|
495
|
0.80
|
8.8
|
1.6
|
453
|
1.00
|
6.7
|
1.8
|
388
|
1.20
|
5.2
|
2.1
|
351
|
1.40
|
4.1
|
2.3
|
303
|
Notes
- Inferred Mineral Resources are reported in accordance with NI
43-101 with an effective date of the 22nd of
April 2022, for the Gbongogo deposit
within the Koné Gold Project. The Inferred MRE was prepared by Mr.
Jonathan Abbott of MPR Geological
Consultants of Perth, Australia
who is a Qualified Person as defined by NI 43-101.
- The inferred MRE is reported on a 100% basis and is constrained
within an optimal pit shell generated at a gold price of
US$1,500/ounce.
- The Mineral Resources are classified according to the "CIM"
definition of Inferred Mineral Resources.
- The estimates at 1.2g/t cut-off grade represent the base case
or preferred scenario.
- Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability.
- Also see "Mineral Resource Modeling and Estimation Assumptions
– Gbongogo".
Figure 3: Gbongogo Cross Section Looking East
Figure 4: Gbongogo Surface Plan View Map
Additional Target Areas
Soil sampling across the Mankono project area has defined more
than 65km of soil anomalism (see Figure 2). Follow up exploration
in the form of pitting, trenching and aircore drilling was widely
spaced due to the nature of the desired target size but has
identified a total of twelve targets, in addition to Gbongogo,
where drilling has intersected mineralization with width and grade
(see Table 3). These represent immediate drill targets where
Montage will move quickly to drilling.
Table 3: Highlight Drill and Exploration Results from Mankono
Prospects (excluding Gbongogo)
Target
|
Hole ID
|
Drill Type
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au g/t
|
Sissédougou
|
SISRC12_66
|
RC
|
5
|
65
|
60
|
2.70
|
SISDD11_06
|
Core
|
26.1
|
44.9
|
18.8
|
2.30
|
74.6
|
109.2
|
34
|
2.08
|
SISDD11_09
|
Core
|
112.7
|
135.7
|
23
|
2.14
|
Kagon
|
SISRC17-152
|
RC
|
90
|
100
|
10
|
1.68
|
Bafretou South
|
BFSAC106
|
Aircore
|
10
|
27
|
17
|
3.28
|
Sena
|
SENAC034
|
Aircore
|
0
|
19
|
19
|
1.57
|
SENAC035
|
Aircore
|
0
|
19
|
19
|
1.75
|
Koban North
|
KOBNA013
|
Aircore
|
17
|
37
|
20
|
1.94
|
KOBNA020
|
Aircore
|
0
|
21
|
21
|
1.67
|
KOBNA015
|
Aircore
|
12
|
22
|
10
|
1.80
|
Lokolo South
|
LOKAC067
|
Aircore
|
16
|
36
|
20
|
2.19
|
LOKAC078
|
Aircore
|
2
|
4
|
2
|
32.20
|
Lokolo Main
|
LOKRC012
|
RC
|
65
|
71
|
6
|
2.16
|
LOKRC001
|
RC
|
55
|
68
|
13
|
2.29
|
LOKRC010
|
RC
|
13
|
24
|
11
|
1.28
|
LOKAC020
|
Aircore
|
19
|
36
|
17
|
1.34
|
Lokolo West
|
LOKRC003
|
RC
|
43
|
49
|
6
|
21.70
|
Dokeka
|
DKAC024
|
Aircore
|
14
|
27
|
13
|
26.80
|
Yeré North
|
YERTR001
|
Trench
|
47
|
85.7
|
38.7
|
1.57
|
YERTR002
|
Trench
|
39.9
|
87
|
47.1
|
1.62
|
YERNRC002
|
RC
|
17
|
25
|
8
|
4.56
|
Notes: Insufficient data is available at this time to determine
true widths for reported intercepts. See Appendix 1 for table of
complete results.
Apart from the targets that have already received drill testing,
the soil anomalies clearly map out the mineralized structures and
these will be followed up in detail. Most notably:
- Northern strike extension of Koné soil anomaly
-
- Soil anomaly extends 6km north of Koné deposit
- Historic work tested the anomaly using aircore traverses spaced
500-900m apart
- Yeré main 12km strike length soil anomaly
-
- Anomaly has been tested with widely spaced lines of pits but
lies in an area of complex regolith
- Kagon soil anomaly
-
- Large soil anomaly with significant areas of over 100ppb gold
in soils
- Has only been partially tested by mechanized auger
Strategic Plan
Montage is concentrated on district exploration for the next 12
months. The primary objective being to add multiple high-grade
satellite deposits to an expanded Koné Gold Project. A summary of
the Company's operational strategy is as follows:
Exploration Programs
1. Gbongogo Exploration Permit (400km2;
part of Mankono acquisition)
- Resource expansion drilling at Gbongogo prospect
-
- Initial program of 3,000m of RC
and 1,000m of core
- Includes geotechnical, hydrological drilling and samples for
metallurgical testing
- Follow-up of anomalism and prior drill results at Bafretou,
Dokeka and Lokolo targets
-
- 5,000m to 10,000m of aircore
-
2. Sissédougou Exploration Permit (387km2;
part of Mankono acquisition)
- Initial follow-up of priority targets that suggest resource
potential
- Targets: Sissédougou, Koban
North, Yeré, and Sena
- 3,000m of RC drilling planned
with 5,000m to 10,000m of aircore
- Soil sampling of untested areas
3. Sisséplé North Permit (321km2; existing
KGP)
- New permit recently awarded to Montage
- Local operating base has been established that will facilitate
exploration in northern portion of expanded project area
- Soil sampling program on an 800m
by 50m grid targeting the entire
permit in progress
- Two new +100ppb anomalies >2km strike defined and being
followed up
4. Koné Exploration Permit (225km2;
existing KGP)
- 5,000m of aircore drilling to
test strike extension at Petit Yao
-
- 3,000m to 5,000m of RC to define resource
Environmental & Social Impact Assessment ("ESIA") and
Economic Analysis
The Company continues to engage with various government
ministries regarding key aspects of the project and which will form
a significant component of the ESIA review and validation process.
As part of the planned programs in Mankono the Company will
commence baseline environmental studies and expand its successful
CSR program to the wider project area. In parallel with
exploration, Montage will undertake the necessary test work and
engineering studies to incorporate Gbongogo and other new potential
deposits into a revised economic study on the KGP in 2023.
Other Corporate Updates
The Company is pleased to announce that its common shares began
trading as of September 1, 2022 on
the OTCQX Best Market under the ticker symbol MAUTF, which is an
upgrade from the OTC Pink Sheets where Montage previously traded.
Montage will continue to trade on the TSX Venture Exchange as its
primary listing under the symbol MAU.
The Company also announces that shareholders approved certain
amendments to the incentive stock option plan of the Company
(99.92% For and 0.08% Against) at the Annual General and Special
Meeting held on June 23, 2022. The
amendments were made to comply with the TSX Venture Exchange's
updated rules regarding option plans. For a full copy of the
Plan, please see the Management Information Circular dated
May 15, 2022 which was filed under
the Company's profile on SEDAR at www.sedar.com on June 2, 2022 and is available on the Company's
website at www.montagegoldcorp.com.
The Company also announces that it has granted an of aggregate
of 200,000 incentive stock options to a Côte d'Ivoire based legal
advisor to the Company. The options are exercisable, subject to
vesting provisions, over a period of three years at a price of
C$0.60 per share and subject to the
successful closing of the Mankono Transaction.
MINERAL RESOURCE MODELING AND
ESTIMATION ASSUMPTIONS – GBONGOGO
An Inferred MRE was undertaken by MPR who estimated recoverable
mineral resources using Multiple Indicator Kriging ("MIK") based on
a dataset that includes 6,142.4m
drilling data (4,827.4m of core and
1,315m of RC) supplied by Montage in
April 2022. The MRE has been
classified in the inferred category and reported in accordance with
NI 43-101 and classifications adopted by CIM Council in
May 2014 and has an effective data of
the 22nd of April
2022.
Inferred Mineral Resources were estimated for Gbongogo by MIK of
two metre down-hole composited gold grades from RC and diamond
drilling. Estimated resources include a variance adjustment to give
estimates of Inferred Mineral Resources above gold cut-off grades
for selective mining unit dimensions of 5m by 10m by
5m (cross strike, strike,
vertical).
Micromine software was used for data compilation, domain wire
framing and coding of composite values and GS3M was used for
resource estimation. The resulting estimates were imported into
Micromine for pit optimization and resource reporting.
Inferred Mineral Resources have been estimated within a single
mineralized envelope 675m in length
and up to 120m in true width.
The MRE includes bulk densities of 1.30, 2.40 and 2.66 t/bcm for
oxide, transition and fresh Quartz Diorite, respectively, and 1.30,
2.10 and 2.62 t/bcm for the surrounding sediments. This is on the
basis of 702 immersion density measurements performed by the
Barrick/Endeavour on diamond core
samples.
To satisfy the definition of Mineral Resources having reasonable
prospects for eventual economic extraction, the estimates are
constrained within an optimal pit and generated from the following
key assumptions and parameters:
- Gold price of US$1,500/oz
- The MIK model is a recoverable resource model and mining
recovery and dilution are taken into account within the modelling
process.
- Processing recovery of 93.9% in oxide, 91.3% in transition
material and 89.2% in fresh rock.
- Overall slope angle of 30° in oxide rock, 40° in transition and
55° in fresh material
- Average mining costs of US$2.74
per tonne
- Processing costs (including G&A) of US$7.41, US$7.58
and US$8.67 for oxide, transition and
fresh material respectively based on the KGP DFS process costs
- Haulage costs of US$5.00/t
- Total selling costs (includes state and third-party royalties)
of US$90/oz
The pit shell constraining the estimates extends over
approximately 670m of strike to a
maximum depth of around 220m.
QUALITY ASSURANCE/QUALITY CONTROL;
SAMPLING; DATA VERIFICATION – GBONGOGO
All drilling was carried out under the supervision of Barrick
personnel and utilized the following procedures and
methodologies:
- RC drilling used a 5.25-inch face sampling pneumatic hammer
with 1m samples collected into 60
litre plastic bags. Samples were kept dry by maintaining enough air
pressure to exclude groundwater inflow. If water ingress exceeded
the air pressure, RC drilling was stopped, and drilling converted
to diamond core tails. Once collected, RC samples were riffle split
through a three-tier splitter to yield a 12.5% representative
sample for submission to the analytical laboratory. The residual
sample was stored at the drill site until assay results were
received and validated. Field duplicates were collected by repeat
splitting of the primary sample at an average frequency of around 1
duplicate per 10 primary samples.
- Diamond drill holes were drilled with PQ and HQ diamond drill
bits. The core marked up and logged, and generally 1m samples (minimum 0.2m) were then cut into equal halves using a
diamond saw. One half of the core was left in the original core box
and stored in a secure location at the Barrick core yard at
Fadiadougou. The other half was sampled, catalogued, and placed
into sealed bags and securely stored at the site until shipment.
Field duplicates were taken by crushing the half core sample to
-2mm and splitting 50:50 using a riffle splitter at an average
frequency of around 1 duplicate per 24 primary samples.
- Samples were shipped to the SGS laboratory at Tongon or the
Bureau Veritas Laboratory in Abidjan for preparation and assay. Both SGS
and Bureau Veritas are independent of Barrick and Montage.
- At both laboratories, samples were dried and crushed by the
laboratory to -2mm and a 1.5kg split prepared from the coarse
crushed material for pulverizing to -75um. Gold analysis was
undertaken using a 50-gram charge and fire assay with an atomic
absorption finish. Quality control procedures included systematic
insertion of blanks (Around 1:45), duplicates (1:24) and standards
(Around 1:45) into the sample stream. Gold assay results of these
QAQC samples show acceptable levels of precision and accuracy, with
no indication of significant contamination, supporting the
reliability of the primary data with sufficient confidence for the
current resource estimates and exploration activities.
- Montage and MPR consider that the resource data has been
sufficiently verified to form the basis of the current MRE and that
the database is adequate for the current estimates. The author and
Mr. Abbot consider that the data verification process included no
limitations or failures
ABOUT MONTAGE GOLD CORP.
Montage is a Canadian-based precious metals exploration and
development company focused on opportunities in Côte d'Ivoire. The
Company's flagship property is the Koné Gold Project, located in
northwest Côte d'Ivoire, which currently hosts a Probable Mineral
Reserve of 161.1Mt grading 0.66g/t for 3.42M ounces of gold. The Company released the
results of a DFS on the Koné Gold Project on February 14, 2022, outlining a 15-year gold
project producing an estimated 3.06M
ounces of gold over life of mine, with average annual production of
207koz, and estimated peak production of 320koz. Montage has a
management team and Board with significant experience in
discovering and developing gold deposits in Africa.
TECHNICAL DISCLOSURE – GBONGOGO
The Mineral Resource Estimate for Gbongogo was carried out by
Mr. Jonathon Abbott of MPR
Geological Consultants of Perth,
Western Australia who is
considered to be independent of Montage Gold. Mr. Abbott is a
member in good standing of the Australian Institute of
Geoscientists and has sufficient experience which is relevant to
the commodity, style of mineralization under consideration and
activity which he is undertaking to qualify as a Qualified Person
under National Instrument 43-101 ("NI 43-101"). Mr. Abbott consents
to the inclusion in this press release of the information, in the
form and context in which it appears.
TECHNICAL DISCLOSURE – KONÉ GOLD
PROJECT
The Mineral Reserve Estimate for the Koné Gold Project has an
effective date of February 14, 2022
and was carried out by Ms. Joeline
McGrath of Carci Mining Consultants Ltd. who is considered
to be independent of Montage. Ms. McGrath is a member in good
standing of the Australian Institute of Mining and Metallurgy and
has sufficient experience which is relevant to the work which she
is undertaking to qualify as a Qualified Person under NI
43-101.
The Mineral Resource Estimates for the Koné Gold Project have an
effective date of August 12, 2021 and
were carried out by Mr. Jonathon
Abbott of MPR who is considered to be independent of Montage
Gold. Mr. Abbott is a member in good standing of the Australian
Institute of Geoscientists and has sufficient experience which is
relevant to the commodity, style of mineralization under
consideration and activity which he is undertaking to qualify as a
Qualified Person under NI 43-101.
For further details of the data verification undertaken,
exploration undertaken and associated QA/QC programs, and the
interpretation thereof, and the assumptions, parameters and methods
used to develop the Mineral Reserve Estimate and the Mineral
Resource Estimates for the Koné Gold Project, please see the
definitive feasibility study, entitled "Koné Gold Project, Côte
d'Ivoire Definitive Feasibility Study National Instrument 43-101
Technical Report" (the "DFS") and filed on SEDAR at www.sedar.com.
The DFS was prepared by Lycopodium Minerals Pty Ltd. and
incorporates the work of Lycopodium and Specialist Consultants,
including Mr. Abbott, under the supervision of Sandy Hunter, MAusIMM(CP), of Lycopodium, a
Qualified Person pursuant to NI 43-101 who is independent of
Montage. Readers are encouraged to read the DFS in its entirety,
including all qualifications, assumptions and exclusions that
relate to the details summarized in this news release. The DFS is
intended to be read as a whole, and sections should not be read or
relied upon out of context.
The technical contents of this press release have been approved
by Hugh Stuart, BSc, MSc, a
Qualified Person pursuant to NI 43-101. Mr. Stuart is the President
of the Company, a Chartered Geologist and a Fellow of the
Geological Society of London.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking information
and forward-looking statements within the meaning of Canadian
securities legislation (collectively, "Forward-looking
Statements"). All statements, other than statements of historical
fact, constitute Forward-looking Statements. Words such as "will",
"intends", "proposed" and "expects" or similar expressions are
intended to identify Forward-looking Statements. Forward looking
Statements in this press release include statements related to the
expected closing of the Mankono Transaction, the Company's resource
properties and resource estimates, and the Company's plans, focus
and objectives, including future exploration programs at Mankono
and districtwide at the KGP, expectations that the Gbongogo
Inferred Mineral Resource will become an Indicated Mineral
Resource, and timing for an updated technical report on the KGP.
Forward-looking Statements involve various risks and uncertainties
and are based on certain factors and assumptions, including, with
respect to mineral resource estimates, those set out in the DFS and
those set out under the heading "Mineral Resource Modeling and
Estimation Assumptions". There can be no assurance that such
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Company's expectations include
uncertainties related to gold and other commodity prices, including
lower than expected future gold prices which could reduce the
economic returns on, or the viability of, a deposit, uncertainties
inherent in the exploration of mineral properties such as incorrect
resource estimates due to incorrect modelling or unforeseen
geological conditions, the impact and progression of the COVID-19
pandemic and other risk factors set forth in the Company's annual
information form under the heading "Risk Factors". The Company
undertakes no obligation to update or revise any Forward-looking
Statements, whether as a result of new information, future events
or otherwise, except as may be required by law. New factors emerge
from time to time, and it is not possible for Montage to predict
all of them, or assess the impact of each such factor or the extent
to which any factor, or combination of factors, may cause results
to differ materially from those contained in any Forward-looking
Statement. Any Forward-looking Statements contained in this press
release are expressly qualified in their entirety by this
cautionary statement.
Appendix 1: Listing of Intercept detail
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SOURCE Montage Gold Corp