Montage Gold acquires Mankono project in Côte d’Ivoire
Montage Gold has purchased the Mankono-Sissédougou joint venture (JV) project from subsidiaries of Barrick Gold and Endeavour Mining.
The Mankono Project lies along the western side of the Banfora-Daloa greenstones belt, along the same regional shear system that hosts the Abujar gold project (Tietto minerals) to the south side and the Napié gold project (Mako gold) to the north side; both in Côte d’Ivoire.
Mankono Project
Montage Gold acquired the project from the subsidiaries for purchase of C$30m. The initially inked a deal with the subsidiaries under which granted the firm 100% indirect interest in the Mankono Sissédougou. Of the C$30m ($24m), pay C$14.5m ($11.5m) was issued in cash and 22,142,857 Montage common shares, in addition to a 2% NSR royalty. This acquisition is expected to expand the Canadian precious metals explorer and developer’s Koné gold project in the West African country.
Mankono-Sissédougou joint venture (JV) project contains three properties, Sissédougou Exploration Permit, Gbongogo, and Sisséplé, all situated within the perimeter of Montage’s Koné Gold Project (KGP). Koné gold project is located in northwest Côte d’Ivoire and currently hosts a probable mineral reserve of 161.1Mt grading 0.66g/t for 3.42M ounces of gold. Together with the company’s existing land holdings, the three prospects form a contiguous block spanning a total area of 2,259km².
Barrick’s subsidiary Randgold has been exploring the Gbongogo property since 2013, while the Endeavour and previously La Mancha Resources exploring Sissédougou and Sisséplé areas since 2010.The Mankono Joint Venture was as formed in 2017, where Barrick owns 70% of MEL and serves as the operator, and Endeavour owns the remaining 30%.
