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Montage Gold expects further resource growth at its Koné mine where the plant is already operating above nameplate

MAUTF
  • Montage Gold Corp. announced that 2026 exploration results at its Koné mine in Côte d'Ivoire increased confidence in expanding resources at higher-grade satellite deposits & discovering new ones.
  • The first gold pour was achieved on September 26, 2026, with commercial production on track to be declared in Q4-2026.
  • Approximately 880,000 tonnes were processed in October, operating at over 90% of the 11Mtpa nameplate capacity, with 104% achieved in the final week of the month.
  • October production yielded approximately 23,460 ounces of gold from an average head grade of 0.82 g/t Au & a recovery rate of approximately 95%.
  • Mining activities are currently focused on the Koné deposit, while the higher-grade Gbongogo Main deposit is expected to ramp up in late Q4-2026.
  • Since the 2024 Feasibility Study, the Company has drilled over 375,000 meters, identified 10 new higher-grade satellite deposits (totaling 12 delineated deposits), & intersected mineralization at over 50 targets across 7 trends.
  • The 2026 exploration program includes a 130,000-meter, $18.0 million budget focused on infill drilling, advancing pre-resource targets, & testing new soil geochemical targets.
  • Drilling in the first nine months of 2026 totaled 122,651 meters across 4,245 holes, with a major focus on the Koné & Gbongogo-Koroutou trends.
  • Exploration at the Gbongogo-Koroutou trend has identified multiple gap zones & confirmed extensions at Gbongogo Main, Gbongogo South, & Soman deposits.
  • The Petit Yao deposit, located 7km from the processing plant, is undergoing exploration to convert Inferred Resources to Indicated status & test extensions.
  • The Sissédougou trend shows emerging broader mineralization at the ANV deposit & ANV North target, with thick intercepts supporting high grades.
  • Regional exploration includes auger programs on the Yeré, Sissédougou, Gbongogo-Koroutou, Bafretou-Niondjé trends, & the new Gbatosso permit.
  • Key upcoming catalysts include regular exploration updates, an updated life-of-mine plan with year-end reserves, ramp-up to commercial production in Q4-2026, & completion of the hard-rock comminution circuit in Q2-2027.
  • The Koné mine has an estimated 16-year mine life with projected annual production of over 300,000 ounces of gold for the first 8 years.