Montage Gold (MAU.V) has wrapped up a 30,200 meter drill campaign in July and the results of that drill campaign were positive as the company has now confirmed the presence of gold mineralization at all 14 targets on its land package that have been drilled so far this year. Additionally, Montage has now increased the amount of targets to 52.
The good results of the drill program completed earlier this year and the abundance of additional exploration targets was an important element in the decision-making process to kick off another drill program, this time for 60,000 meters. The new drill program aims to define a resource calculation on several of its targets while the grassroots exploration drilling will continue on some of the earlier-stage targets. Montage hopes to define an additional 1 million ounces of gold at an average grade that’s 50% higher than the grade of its Koné deposit, and it would like to achieve this target before production at Koné starts.
Disclosure: The author has no position in Montage Gold anymore. Please read the disclaimer.
