Montage Gold Corp. is running its flagship Koné mine processing plant in Côte d’Ivoire beyond design capacity just weeks after its initial gold pour, positioning the Canadian producer to declare formal commercial production ahead of schedule before year-end.

The Toronto-listed miner milled 880,000 tonnes of oxide ore in October, averaging more than 90 percent of its 11-million-tonne annual nameplate benchmark. Operating tempo climbed quickly into the final week of the month, with processing rates hitting 104 percent of designed capacity.

Crushing through nameplate capacity

October processing operations yielded 23,460 ounces of gold from an average head grade of 0.82 grams per tonne, supported by metallurgical recovery rates of 95 percent. Mining currently centers on the primary Koné pit, with higher-grade feed from Gbongogo Main set to enter the blend later this quarter.

That swift operational start provides critical operational breathing room for Chief Executive Martino De Ciccio. The company is leaning on early plant performance to generate cash flows that fund an aggressive regional exploration push aimed at turning the asset into a multi-deposit West African hub.

Unlocking satellite ore bodies

Parallel drilling across the property is revealing higher-grade material beyond current pit envelopes. Montage has completed more than 120,000 meters of drilling this year under an $18 million budget, delineating 12 satellite deposits compared to just two outlined in its 2024 feasibility study.

Chief Exploration Officer Silvia Bottero said recent step-out holes confirm mineralized extensions that can supplement mill feed from inception. Along the 15-kilometer Gbongogo-Koroutou trend, core samples hit continuous gold zones beneath the main pit shell, with mineralization remaining open down-dip toward the northwest.

Targeting near-mine feed additions

Assays from Gbongogo Main returned intercepts including 21.1 meters grading 1.95 grams of gold per tonne, alongside 8.9 meters at 2.39 grams per tonne. Nearby at Gbongogo South, drilling hit 12 meters at 5.38 grams per tonne, confirming extensions that may link both zones.

Similar expansions are emerging across satellite targets. The Petit Yao deposit, located seven kilometers from the mill, showed shallow mineralization dipping outside the pit shell. Meanwhile, regional scout drilling at ANV North intercepted 19 meters at 4.10 grams per tonne, outlining a wider structural gold system.

Expanding the growth runway

Management plans to fold the latest drill data into an updated life-of-mine plan alongside refreshed reserve estimates by year-end. The broader complex carries a projected 16-year operational life, targeting more than 300,000 ounces of annual output during its initial eight years of full operations.

The mine’s second expansion phase remains on track, with construction of the hard-rock comminution circuit slated for completion in the second quarter of 2027. Montage is also advancing drilling across secondary holdings in Côte d’Ivoire and early-stage greenfield exploration licenses in Mauritania.