Montage pours first gold at Koné ahead of schedule
The Côte d’Ivoire mine has begun producing months early, as Montage targets commercial production by year-end
Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) has achieved an early milestone in its journey toward becoming a producer, as it successfully poured its first gold at the Koné mine in Côte d'Ivoire, a full month ahead of schedule. The September 26th pour, which processed over 400,000 tonnes of ore since September 8th, yielded approximately 1,140 ounces of gold.
Montage's construction of the Koné mine began in December 2024, and the company had originally planned to pour first gold in the second quarter of 2027. However, their self-performing construction skills have led to significant cost savings and an optimized construction timeline. Peder Olsen, president and chief development officer of Montage, stated that these abilities have allowed for the successful development of the mine.
The oxide circuit, which is instrumental in processing the ore and yielding gold, is expected to reach commercial production by the end of the year. Meanwhile, construction of the hard-rock comminution circuit is on track for completion by mid-2027. This early production milestone marks a crucial de-risking event for Montage, as it transitions from being a developer to a producer.
According to BMO analyst Raj Ray, the achievement of this milestone is a significant step forward for Montage as it moves toward becoming a profitable gold producer. The Koné mine, with an estimated 16-year mine life, is designed to produce over 300,000 ounces of gold during its first eight years of operation.
The construction of the Koné mine has also created approximately 3,600 jobs, with over 95% of these roles going to nationals due to training programs initiated prior to construction. Once fully operational, the mine is expected to generate approximately 1,500 permanent jobs. Martino De Ciccio, CEO of Montage, expressed his excitement about Koné becoming the ninth operating gold mine in Côte d'Ivoire and its potential to deliver strong benefits to all stakeholders.
Montage is not only focused on the successful operation of the Koné mine but also on expanding its development pipeline. The company is pursuing an extensive exploration campaign, which includes a 130,000-meter drilling program aimed at discovering higher-grade satellite deposits to supplement Koné's production. As of the 2026 program, drilling has increased to about 380,000 meters since the 2024 feasibility study.
The overall Koné mine resources have increased by 1.42 million ounces to 6.29 million ounces, with the grade improving by 27% to 0.80 grams per tonne of gold. Inferred resources have also increased by 1.62 million ounces to 2.03 million ounces, with the grade improving by 36% to 0.68 grams per tonne of gold. These improvements are compared to the basis used for the 2024 Feasibility Study.
Montage aims to continue its exploration efforts to discover higher-grade satellite deposits, with the ultimate goal of boosting production throughout 2027.
Written by urgent.news from Mining.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
