Montage Gold reports successful drilling programme at Côte d’Ivoire’s Koné mine
The company has drilled more than 120,000 metres this year as it continues to identify higher-grade satellite deposits, while its processing plant produced approximately 23,460 ounces of gold in October
Montage Gold has reported further progress in its exploration programme at its Koné mine in Côte d’Ivoire, with more than 120,000 metres drilled since the beginning of the year.
The latest results from its ongoing 2026 exploration programme indicate potential for further resource growth at previously identified higher-grade satellite deposits, as well as the discovery of additional deposits.
Since the publication of its 2024 Feasibility Study, the company has drilled more than 375,000 metres across the Koné mine. It has also increased the number of identified deposits from two to 12, with mineralisation intercepted at more than 50 targets across seven mineralised trends.
The exploration update comes as the mine continues to ramp up production following its first gold pour on September 26 this year.
In October, approximately 880,000 tonnes of ore were processed through the oxide circuit, with the plant operating at an average of more than 90% of its 11-million-tonne-per-annum (Mtpa) nameplate capacity. During the final week of October, it reached 104% of nameplate capacity.
Mining activities are currently focused on the Koné deposit, with operations at the higher-grade Gbongogo Main deposit expected to ramp up in late Q4 2026.
The average processed head grade for October was 0.82 grams per tonne (g/t) of gold, while the average recovery rate was approximately 95%. This resulted in gold production of approximately 23,460 ounces during the month.
“We continue to be very pleased with the rapid progress being made to unlock value through our exploration efforts at our Koné mine, which has recently entered production. Since the publication of the 2024 Feasibility Study, we have drilled over 375,000 meters across the Koné mine, identified 10 new higher-grade satellite deposits which continue to grow in scale, while many more targets are being generated and drill tested. As such, we expect to quickly benefit from our investments in exploration given that the higher-grade satellite deposits have the potential to enhance the short- and longer-term production profile of the operation,” said Martino De Ciccio, CEO of Montage Gold.
The company expects to benefit from the additional deposits as it works towards increasing the mine’s production profile. It is also targeting further exploration results and an updated life-of-mine plan, together with its 2026 year-end mineral reserves and resources.
Meanwhile, construction of the hard-rock comminution circuit remains on schedule for completion in Q2 2027, while commercial production from the oxide circuit is expected to be declared during Q4 2026.
