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    Montage Gold’s Koné resource lift: project economics and pit design notes

    June 16, 2026|

    Reviewed by Tom Sullivan

    Montage Gold’s Koné resource lift: project economics and pit design notes

    First reported on MINING.com

    30 Second Briefing

    Montage Gold has increased total contained resources at its Koné gold project in Côte d’Ivoire by almost 58%, to 244 million measured and indicated tonnes at 0.8 g/t (6.2 Moz) plus 93 million inferred tonnes at 0.68 g/t (2 Moz), following roughly 330,000 metres of drilling since the 2024 feasibility study. Satellite deposits Gbongogo Main and South and Koban now host 1.6 Moz measured and indicated at 1.51 g/t and 766,000 oz inferred at 1.34 g/t, materially lifting potential head grades for early pit phases. Construction at Koné remains on budget and ahead of schedule, with first gold pour targeted for late Q4 2026 and a further 90,000-metre drill programme in progress across the district.

    Technical Brief

    • Resource grades have increased 24% versus the initial 2024 resource, improving potential mill feed quality.
    • Measured and indicated ounces have risen by 1.42 Moz (29%), materially strengthening reserve-conversion potential.
    • Inferred ounces have expanded by ~1.63 Moz, more than fivefold, enlarging the long‑term project pipeline.
    • Gbongogo Main, Gbongogo South and Koban satellites delivered 1.14 Moz additional M&I, tripling prior satellite inventory.
    • New satellite inferred resources of 766,000 oz at 1.34 g/t were defined from zero in March.
    • Approximately 330,000 m of drilling were completed post‑FS, indicating very intensive resource definition and step‑out work.
    • A further 90,000 m of drilling at Koné plus 9,000 m at Wendé are currently underway.
    • Regional portfolio work includes a planned Q3 resource upgrade at Didievi and new drilling starts in Mauritania.

    Our Take

    Koné’s 6.2 million oz measured and indicated inventory at 0.8 g/t, combined with 1.6 million oz of higher‑grade satellite ounces at 1.51 g/t, suggests Montage Gold is engineering a hub‑and‑spoke blend that can lift early head grades and shorten payback relative to a stand‑alone low‑grade pit.

    The Q4 2026 first‑pour timing aligns with earlier coverage noting a US$545 million build that was already heavily committed, so this 58% resource uplift is likely to be fed into mine‑plan and plant‑throughput optimisations rather than a wholesale redesign.

    With Montage Gold simultaneously picking up over 2,100 km² of greenfield ground in Mauritania, the enlarged Koné–Didievi–Wendé pipeline in Côte d’Ivoire positions West Africa as the core of its growth story in our gold project database, while Mauritania looks more like a second‑wave optionality play.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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