MONTAGE GOLD ANNOUNCES APPOINTMENT OF SILVIA BOTTERO AS EXECUTIVE VICE PRESIDENT OF EXPLORATION
HIGHLIGHTS:
-
Silvia Bottero , formerly Senior Vice President of Exploration at Endeavour Mining, has a proven exploration track record- She was directly responsible for the discovery of +15Moz of M&I gold resources in Côte d'Ivoire over the last decade and played a pivotal role in the discovery of +18Moz of M&I gold resources over her eight-year tenure at
Endeavour - She has a deep understanding of Montage's Koné project and its exploration potential, having tracked its development closely as some of its grounds were previously held by the
Endeavour and Barrick joint-venture - She brings extensive permitting and public affairs experience in Côte d'Ivoire, with strong established local stakeholder relationships
- She was directly responsible for the discovery of +15Moz of M&I gold resources in Côte d'Ivoire over the last decade and played a pivotal role in the discovery of +18Moz of M&I gold resources over her eight-year tenure at
-
She will play a critical role in executing the Montage strategic objectives of further enhancing the Koné project with the discovery of higher-grade satellite deposits and building an attractive greenfield exploration portfolio across
Africa
About
Having been based in
Prior to her Exploration Manager position at La Mancha, she held the position of Exploration Manager for West African Minerals in
Silvia holds a Masters in Geology from the Università degli Studi di
Stock-Based Compensation Grants
The Company also announces that it has granted an aggregate 2,813,334 incentive stock options to certain officers, directors and other eligible persons of the Company. The options are exercisable, subject to vesting provisions, over a period of five years at a price of
ABOUT
Neither
TECHNICAL DISCLOSURE
The Koné and Gbongogo Main Mineral Resource Estimates were carried out by Mr.
The Mineral Reserve Estimate was carried out by Ms.
For further details of the data verification undertaken, exploration undertaken and associated QA/QC programs, and the interpretation thereof, and the assumptions, parameters and methods used to develop the Mineral Reserve Estimate for the Koné
SOURCE DATA AND REFERENCES TO
Lafigue (100% basis) |
Category |
Tonnage (Mt) |
Grade (Au g/t) |
Content (Au koz) |
Mineral Resource and Reserves Estimate effective as of
|
Proven Mineral Reserves |
- |
- |
- |
Probable Mineral Reserves |
49.8 |
1.69 |
2,714 |
|
P&P Reserves |
49.8 |
1.69 |
2,714 |
|
Measured Resources (incl. reserves) |
- |
- |
- |
|
|
Indicated Resources (incl. reserves) |
46.2 |
2.04 |
3,026 |
|
M&I Resources (incl. reserves) |
46.2 |
2.04 |
3,026 |
|
Inferred Resources |
1.6 |
1.98 |
102 |
Note: See Endeavour Mining press release dated |
Tanda-Iguela (100% basis) |
Category |
Tonnage (Mt) |
Grade (Au g/t) |
Content (Au koz) |
Mineral Resource and Reserves Estimate effective as of
|
Measured Resources |
- |
- |
- |
Indicated Resources |
70.9 |
1.97 |
4,493 |
|
Inferred Resources |
2.9 |
1.91 |
176 |
Note: See Endeavour Mining press release dated |
|
Category |
Tonnage (Mt) |
Grade (Au g/t) |
Content (Au koz) |
Mineral Resource and Reserves Estimate effective as of
|
Proven Mineral Reserves |
11.4 |
0.82 |
300 |
Probable Mineral Reserves |
46.5 |
1.82 |
2,721 |
|
P&P Reserves |
57.9 |
1.62 |
3,021 |
|
Measured Resources (incl. reserves) |
11.7 |
0.79 |
298 |
|
|
Indicated Resources (incl. reserves) |
85.3 |
1.70 |
4,673 |
|
M&I Resources (incl. reserves) |
96.9 |
1.59 |
4,971 |
|
Inferred Resources |
17.1 |
1.59 |
873 |
|
Cumulative Depletion of M&I Resources |
|
|
2,800 |
|
Inclusive of historic heap leach operations |
|
|
|
Note: See Endeavour Mining press release dated |
Discoveries since 2016 (100% basis) |
M&I Resources (incl. Reserves) |
|
|
18.4Moz |
Note: See Endeavour Mining |
QUALIFIED PERSONS STATEMENT
The scientific and technical contents of this press release have been approved by
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, "Forward-looking Statements"). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as "will", "intends", "proposed" and "expects" or similar expressions are intended to identify Forward-looking Statements. Forward looking Statements in this press release include statements related to the use of proceeds from the Offering; the final acceptance of the
NON-GAAP MEASURES
This press release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including cash costs and AISC (or "all-in sustaining costs") per payable ounce of gold sold and per tonne processed and mining, processing and operating costs reported on a unit basis. Non-GAAP measures do not have any standardized meaning prescribed under IFRS and, therefore, they may not be comparable to similar measures employed by other companies. The Company discloses "cash costs" and "all-in sustaining costs" and other unit costs because it understands that certain investors use this information to determine the Company's ability to generate earnings and cash flows for use in investing and other activities. The Company believes that conventional measures of performance prepared in accordance with IFRS, do not fully illustrate the ability of mines to generate cash flows. The measures, as determined under IFRS, are not necessarily indicative of operating profit or cash flows from operating activities. The measures cash costs and all-in sustaining costs and unit costs are considered to be key indicators of a project's ability to generate operating earnings and cash flows. Non-GAAP financial measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs, operating profit or cash flows presented under IFRS. Readers should also refer to our management's discussion and analysis, available under our corporate profile at www.sedarplus.ca for a more detailed discussion of how we calculate such measures.
____________________________ |
1 See section titled "Source Data and References to Endeavour Mining Disclosure" for further details. |
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