Montage Gold Corp. · TSX:MAU
Montage Gold — Technical Presentation (September 2022)
42 slides from Montage Gold's technical presentation, September 2022
Slide 1: The Koné Gold Project: Geology and Exploration
TSX.V MAU OTC MAUTF The Koné Gold Project: Geology and Exploration SUPPLEMENTAL PRESENTATION SEPTEMBER 2022
Slide 2: Cautionary Language
Cautionary Language Introduction Montage Gold Corp. (“Montage” or the “Company”) is a Canadian-based precious metals exploration and development company focused on opportunities in Côte d’Ivoire. The Company’s flagship property is the Koné Gold Project, located in northwest Côte d’Ivoire, which curr
Slide 3: Cautionary Language
Cautionary Language Forward-looking Information Although Montage has attempted to identify important factors, assumptions and risks that could cause actual results to differ materially from those contained in forward-looking statements, there may be others that cause results not to be as anticipated
Slide 4: Focused in Côte d'Ivoire
Exploration License Focused in Côte d’Ivoire Syama Application N Sissingué Wahgnion 100km Bagoe Tongon Why Côte d’Ivoire ? Doropo § Highly prospective geology Korokaha Gold Project § Under explored in comparison to neighbours ABC § Politically stable in comparison to neighbours § Strong government a
Slide 5: Ideal Location
Syama 6.1Moz Tabakoroni 1.5Moz Ideal Location Sissingué 1.4Moz Waghnion Fimbiasso 0.3Moz 2Moz § Prolific Boundiali - Sénoufo Gold Belt § Junction of two regional scale structures Bagoé 0.5Moz Tongon 5Moz Kasseré 0.2Moz § Montage now controls 85km strike length § 2,258km 2 contiguous permit holding K
Slide 6: Koné Exploration History
Koné Exploration History Red Back Mining 2008 Koné Exploration Permit application 2009 Soil Sampling 2010 Trenching, 8 shallow RC holes for 943m drilled Red Back Acquired by Kinross Sirocco Gold 2013 Option from Kinross: 3,340m shallow RC drilling Orca Gold 2017 2,211m deeper RC holes 2018 March: 2
Slide 7: Exploration History (continued)
Exploration History (continued) Montage Gold 2019 Côte d’Ivoire assets spun out to private Montage Merged with Avant Minerals (private) $8M placement 2020 Q1-Q3: 8,670m deep Step out core drilling October: IPO on TSX.V, $35M raise 2020 Q4: 22,528m infill drilling 2021 Q1: Inferred Resource 211Mt at
Slide 8: Koné Discovery History
Koné Discovery History TSXV MAU Montage Gold Corp.
Slide 9: Soil Geochemistry – 2009
Soil Geochemistry – 2009 First Pass: 800m x 50m Infill: 200m x 50m 2,600m 700m Key <20 ppb 20 – 50 ppb 50 – 100 ppb 100 – 200 ppb >200 ppb TSXV MAU Montage Gold Corp.
Slide 10: Trenching – 2010
Trenching – 2010 Key to Gold Grades <0.20g/t 0.20 – 0.50g/t 0.50 – 1.0g/t 0.50 – 1.00g/t >1.00g/t TSXV MAU Montage Gold Corp.
Slide 11: Ground Geophysics
Ground Geophysics Ground Magnetics Gradient IP TSXV MAU Montage Gold Corp.
Slide 12: Drilling – 2010
Drilling – 2010 • 9 holes for 943m • Drilling stopped just prior to Presidential Elections • Intersected mineralization over 300m width Key to Gold Grades 300m <0.20g/t 0.20 – 0.50g/t 0.50 – 1.0g/t 0.50 – 1.00g/t 60m >1.00g/t TSXV MAU Montage Gold Corp.
Slide 13: Drilling – 2013
Drilling – 2013 • 43 holes for 3,340m • Completed coverage of the anomaly • Confirmed significant widths • First met test work on RC chips Key to Gold Grades 230m <0.20g/t 0.20 – 0.50g/t 0.50 – 1.0g/t 0.50 – 1.00g/t >1.00g/t 65m TSXV MAU Montage Gold Corp.
Slide 14: Drilling – 2017
Drilling – 2017 • 2,211m of deeper RC • Proof of concept – does the mineralization extend to depth? 175m Key to Gold Grades <0.20g/t 0.20 – 0.50g/t 0.50 – 1.0g/t 0.50 – 1.00g/t >1.00g/t TSXV MAU Montage Gold Corp.
Slide 15: Drilling – 2018
Drilling – 2018 • 2 x core holes for metallurgical test work • 11,677m 100m x 50m Resource RC drilling to -200m October 2018 Inferred Mineral Resource Statement1 Cut off Mt Au g/t Au Koz 0.2 92.9 0.66 1,971 0.3 77.7 0.74 1,849 0.4 64.1 0.83 1,711 B l oc k Mod el Key October 2018 MIK blocks shown siz
Slide 16: Koné Geology
Koné Geology • Normal but unusual! • True widths up to 330m • Subtle • Potassic alteration scheme • Higher grade core • Quartz sulphide veinlets • Disseminated pyrite TSXV MAU Montage Gold Corp.
Slide 17: Koné Geology
Koné Geology Leapfrog 3D model shell at 0.8g/t • Strong Plunge component • Higher grade core shows fold geometries Strong Southerly Plunge Leapfrog 3D model slice looking down plunge TSXV MAU Montage Gold Corp.
Slide 18: Koné DFS Provides a Great Base
Koné DFS Provides a Great Base Scale § 4.3Moz Indicated Resource 1 Low Strip § Less than 1:1, 200m true width Soft Rock § Bwi of 11kwh/t Great Infrastructure § Asphalt road to site Simple Metallurgy § +90% recovery 3.42Moz 272Koz/yr 207Koz/yr $15.89/tonne 35% $746 million Probable First 5-years ~15-
Slide 19: Now with 14 drill-ready targets
Key to Geology SN_2 SN_1 Sissédougou Basement (migmatites) • SISRC12_66: 60m at 2.70g/t Now with 14 (new) (new) • SISDD11_06: 34.6m at 2.08g/t Birimian Sediments and 18.8m at 2.30g/t Birimian Volcanics • SISDD11_09: 23.0m at 2.14 g/t drill-ready Diorite Late Intrusives Yeré North • YETR001: 38.7m at
Slide 20: Extensive Target Areas
Extensive Target Areas PRIMED FOR DISCOVERY RESOURCE Gbongogo Sissédougou 14 Drill Ready Montage to Explore for DEFINITION Petit Yao Targets High-Grade Satellites Koban North § Target Criteria: Anything >50koz at Yeré North 1.5g/t – 2.0g/t RESOURCE Lokolo Main POTENTIAL Lokolo South Objectives over
Slide 21: Numerous regional and district scale structures
Key to Geology Basement (migmatites) Numerous Birimian Sediments Birimian Volcanics regional and Diorite Late Intrusives district scale Areas untested to date structures Gbeou Shear Unexplored Gbongogo – Boundiali belt Distinctive anomalism, intrusive related Dianra – Tongon Shear Underexplored 10km
Slide 22: Gbongogo
Gbongogo HIGH GRADE HEAD START! Hole From (m) To (m) Length (m) Au g/t RC Drilling 013 33 125 92 2.99 Including 16m at 10.0g/t from 61m o 6,142m drilling has been completed to date Diamond Drilling § 4,827m of diamond core and 1,315m of RC 002 0 86.8 86.8 1.61 004 61 138 77.0 2.48 o Scope to develop
Slide 23: Gbongogo
Gbongogo GEOLOGY Mineralization at Gbongogo is hosted within and on the margins of a north-plunging 1.47 quartz diorite plug with a surface expression of 250m by 100m. 8.28 1.86 3.53 2.02 Alteration comprises a light green sericite + carbonate + chlorite overprinted by a 1.93 light red to pinkish an
Slide 24: Gbongogo
Gbongogo PRIMARY TARGET FOR GROWTH N GBTR0014 101m at 1.93g/t S GBDDH004 77m at 2.48g/t Incl 9.8 at 10.7g/t Base of GBDDH002 Oxidation 86.8m at 1.61g/t GBRC013 92m at 2.99g/t Incl 16m at 10.0g/t GBDDH007 135.2m at 2.63g/t Incl 16.9m at 10.7 Quartz Sediments Diorite GBDDH017 Sediments 97m at 0.79g/t
Slide 25: Gbongogo South
Gbongogo SOUTH o 750m strike length o Drilling: Only 2 fences of RC completed o Trenching returned § GBRC002: 15.0m at 1.07g/t Gbongogo Gbongogo West Resource significant results over § GBRC005: 10.0m at 1.50g/t 200m strike (central area): § GBDDH014: 57.7m at 0.86g/t § GBTR041: 5.70m at 26.3g/t, §
Slide 26: Gbongogo West
Gbongogo WEST o 750m strike length o Same geochemical signature to Gbongogo with mineralized o Highest grade anomaly in quartz-tourmaline float Gbongogo (up to 42.9g/t). Resource area averaging 1,170ppb Gbongogo West o 4 trenches and 8 RC o Anomaly un-explained and holes failed to intersect further
Slide 27: Gbongogo North
Gbongogo NORTH o 1,100m by 400m area of intense alteration similar to GB o Large +100ppb soil anomaly Gbongogo North o Numerous quartz – tourmaline float samples >1g/t o Widespread anomalism in trenches: § GBTR028: 23.60m at 0.98g/t § GBTR001: 17.00m at 1.45g/t § GBTR019: 74.40m at 0.51g/t § GBTR01E
Slide 28: Koban Trend
Gbongogo Koban North • KOBNAC013: Koban KOBAN TREND 20m at 1.94g/t North • KOBNAC020: 21m at 1.67g/t • KOBNAC015: 10m at 1.80g/t o 10km north-south target o 6 Priority 1 targets – centered on a district drill ready Koban scale thrust fault o 3 priority 2 targets Sena • SENAC034: Sena o Significant g
Slide 29: Koban North
Koban Koban NORTH NORTH o 700m strike length o Mineralisation associated with Quartz Feldspar Porphyry Intrusive o Minimal drilling to date – only 3 RC holes with 2 lines of aircore 1km TSX.V MAU Montage Gold Corp. 29
Slide 30: Sissédougou
Sissédougou o Drilling by Cominor 2002 – 2010 and LMCI from 2011-2013 § DD 23 holes for 3,439m § RC 85 holes for 10,371m o 700m strike, 5-15m true width, better grades in oxide o Ladder veins within a sub-vertical shear hosted by coarse grained volcanic sediments. o 2015 La Mancha/Coffey Mining non-
Slide 31: Sissédougou Section
Hole From To Metres Au g/t Sissédougou Section SISDD10_03 78.65 88.65 10.00 2.25 10.20 44.90 34.70 1.90 SISDD11_06 74.60 109.20 34.60 2.46 SISDD11_09 112.65 135.65 23.00 2.15 SISDD13_10 47.80 59.70 11.90 2.12 116.70 128.70 12.00 1.52 SISDD13_12 185.70 216.75 31.05 1.22 SISDD13_13 28.75 44.55 15.80 1
Slide 32: AN_III
AN_III o 2012 La Mancha drilling shows continuous mineralization over 350m strike o No work in this area since 2012 RC Drill Hole From To Metres Au g/t 10_35 66.00 72.00 6.00 0.66 12_111 8.00 19.00 11.00 1.24 12_112 52.00 61.00 9.00 2.77 12_114 28.00 38.00 10.00 1.72 12_115 111.00 123.00 12.00 0.72
Slide 33: Petit Yao
Petit Yao Petit Yao Down-hole Intercept (m) Grade o 7km from Koné Hole From To Metres Au g/t MPYRC009 47 59 12 1.45 MPYRC014 22 38 16 0.91 o 2022 Gradient IP survey MPYRC015 5 11 6 2.91 MPYRC017 51 60 9 1.74 MPYRC018 52 60 8 3.15 o Anomaly now well understood MPYRC021 3 10 7 1.20 MPYRC022 7 14 7 1.3
Slide 34: Sena
Sena o 1,500m strike length o Mineralisation hosted in hanging wall of thrust o 2 lines of shallow aircore, no RC follow up o Soil anomalism associated with structure not followed up 1km TSX.V MAU Montage Gold Corp. 34
Slide 35: Bafretou Petit Yao South
BFSAC128: 4m at 1.12g/t BFSAC131: 5m at 0.56g/t Bafretou Petit Yao South BFSAC132: 2m at 2.6g/t BFSAC106: 17m at 3.28g/t incl. 3m at 15.63g/t o Koné soil anomaly traced north for 6km at 20ppb BFSAC164: 5m at 0.57g/t BFSAC170: 5m at 1.57g/t BFSAC179: 5m at 2.15g/t BFSAC186: 4m at 0.56g/t o Widely spa
Slide 36: Lokolo
Lokolo Lokolo Petit Yao o 15km strike soil anomaly o Artisanal Mining o Aircore with some RC follow up o Widely spaced lines TSX.V MAU Montage Gold Corp. 36
Slide 37: Yeré North
Yeré Yeré North North Petit Yao Extension of the granitoid discovered through pitting (>0.5g/t) and single 680ppb soil point o New Target o 600m x 200m soil anomaly +270ppb overlying lenticular granodiorite intrusive with coincident with K-Ba-Rb YERNRC001 signature. 9.0m at 4.09g/t YERTR003 42.7m at
Slide 38: District Consolidated High-Grade
District High-Grade Aggressive Consolidated Strategy Exploration Planned 2,258km2 Land Package; Positions KGP for Significant Initial 25,000m drilling on 85km strike-km Improvement >10 targets Strong Shareholder Value Backing Creation Perseus, Barrick, Revised economic study to Lundin, Endeavour fol
Slide 39: Hugh Stuart
Hugh Stuart President [email protected] TSX.V MAU Adam Spencer EVP Corporate Development MontageGoldCorp.com [email protected]
Slide 40: Local Impact & Community Relations
Local Impact & Community Relations Montage Gold is backed by strong community support from the § Water wells in both Fadiadougou and Batogo surrounding villages of Fadiadougou, Batogo and Manabri. In § New classrooms constructed in Fadiadougou addition to being the largest employer in the area, Mont
Slide 41: Mineral Reserves and Resources
Mineral Reserves and Resources KONÉ – FEBRUARY 2022 MINERAL RESERVE ESTIMATE Oxide Transition Fresh Total Pit Classification Mt Au g/t Au Moz Mt Au g/t Au Moz Mt Au g/t Au Moz Mt Au g/t Au Moz South Pit Probable 9.8 0.57 0.18 7.9 0.56 0.14 141.4 0.67 3.05 159.1 0.66 3.39 North Pit Probable 0.9 0.47
Slide 42: Disclosure Regarding Mineral Reserves and Resources
Disclosure Regarding Mineral Reserves and Resources February 2022 Koné Mineral Reserve Estimate § The Mineral Reserves are classified according to the “CIM” definitions with an effective date of February 14, 2022. § All Mineral Reserves were classified as Probable based on the Indicated Mineral Reso
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