Montage’s new Mauritania exploration permits: portfolio and data strategy for mine planners
Reviewed by Tom Sullivan
First reported on MINING.com
30 Second Briefing
Montage Gold has secured five greenfield gold exploration permits in northern Mauritania, covering over 2,100 km² across the Sfariat and Zednes blocks, with 80% rights in the latter after a competitive tender. The move extends its West African portfolio beyond Côte d’Ivoire, where the Koné project is targeting first gold by year-end and forecast output of over 300,000 oz per year for the first eight years. Management says the Mauritanian tenements were prioritised using existing geophysical, geochemical and geological mapping datasets.
Technical Brief
- Five greenfield permits total over 2,100 km² in northern Mauritania, secured via competitive tender.
- Four permits lie in the Sfariat block with direct award; one is in the Zednes block.
- Both Sfariat and Zednes are described as underexplored despite proximity to established Mauritanian gold and copper-gold operations.
- Tenement selection followed an in‑depth desktop review of existing geophysical, geochemical and geological mapping datasets.
- Regional analogue operations include Kinross’ Tasiast gold mine and First Quantum’s Guelb Moghrein copper‑gold mine.
- Koné in Côte d’Ivoire remains the flagship development, with Didievi the next Ivorian asset approaching production.
- Market reaction: Montage’s share price rose 3.3% to C$16.83, near its C$17.02 all‑time high.
Our Take
With first gold at the Koné open pit pulled forward to Q4 2026 on a US$545 million build, the five Mauritanian exploration permits give Montage a pipeline option to backfill or extend production life once the initial eight-year Koné mine plan matures.
Mauritania already hosts Kinross’ Tasiast and First Quantum’s Guelb Moghrein, and in our database most new gold and copper entries for the country involve established producers, so Montage’s 80% rights at Zednes mark a relatively rare junior-led land grab in a district dominated by majors and mid-tiers.
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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