Aligning with its target of achieving a first gold pour at its Koné project, in Côte d’Ivoire, in the fourth quarter of this year, gold exploration and development company Montage Gold has made significant progress in construction activities at the site.

The Koné gold project currently hosts nine gold deposits which include the Koné deposit alongside satellite deposits – Gbongogo Main, Gbongogo South, Koban North, Sissédougou, Yere North, Lokolo Main, Sena and Diouma North.

The project hosts a total indicated resource of 261-million tonnes grading 0.62 g/t gold, containing 5.12-million ounces of gold.

This includes the Koné deposit, which accounts for 245-million tonnes grading 0.57 g/t for 4.46-million ounces of gold, alongside its satellite deposits that contribute a combined 16-million tonnes grading 1.38 g/t for 720 000 oz of gold.

Construction activities at the Koné project’s process plant continue to progress on budget, with over 7.2-million hours worked to date and a number of key milestones achieved several months early, says Montage president and chief development officer Peder Olsen.

Capital of about $545-million has been committed to date, representing about 63% of the total upfront capital expenditure, with prices in line with expectations.

In terms of production infrastructure, carbon-in-leach (CIL) tank construction for the Koné project has progressed rapidly, with the erection of 14 CIL tanks.

Following the completion of foundations, the pre-leach and tailings thickener areas are undergoing slab and kerb construction.

All tanks on train one have been completed and hydro-tested, while the tanks on train two are either complete or entering final stages of testing.

The oxide sizer construction is also close to completion, about four months ahead of schedule, with final electrical works currently taking place.

Reagent foundations have been completed with concrete pours for the oxide startup expected to have been completed by the end of January.

Civil works on the ball mill have also been completed, with all the concrete for this plant having already been poured.

Focus has subsequently shifted to the installation of structural steel, piperacks and grid mesh ahead of the ball mill installation, which has been delivered to site.

Piperack installation in the mill classification area has largely been completed, whilst piperack installation in the CIL trains remains ongoing in parallel to CIL tank completion, all of which Montage reports are ahead of schedule.

The completion of the oxide sizer and delivery of the ball mill shell positions Montage to target a first gold pour through an oxide circuit startup in the fourth quarter of this year, says Montage CEO Martino De Ciccio.

Olsen adds that the company has also started pipework installation alongside the construction and internal fit-out of a 225 kV substation and the assembly of transmission line towers.

Significant progress has also been made towards establishing the tailings storage facility, with the dam wall completed three months ahead of schedule.

Further, the concrete vault walls of the gold room were also poured, and the gold safe was installed with roof works currently ongoing.

Foundations for ancillary buildings in the process plant have also been completed.

“In parallel, we continue to make rapid progress on the hard-rock comminution circuit, which remains on budget and well on schedule for completion in [the second quarter of 2027],” says Olsen.

In particular, the circuit’s earthworks are underway, with structural fill and concrete placement ongoing at the primary crusher.

Alongside its construction efforts, Montage is also making progress on executing its operational-readiness plan for the Koné project, with the mobilisation of high calibre operating teams and mining equipment scheduled to occur over the coming quarters, says Olsen.

Concurrent to its construction activities, Montage is continuing to unlock value through its exploration programme with about 115 000 m drilled in 2025, compared to its initial budget of 90 000 m and in addition to 56 000 m of pre-production drilling conducted at the Koné and Gbongogo Main deposits.

The initial 2026 drill programme totals $16-million, comprising of 90 000 m of drilling at the Koné project and 9 000 m at the recently awarded Wendé advanced greenfield property.

Montage was granted the Wendé permit in December 2025, covering an area of about 107 km2. Historical workings on the property highlight a significant 7 km2 gold-in-soil anomaly with assays grading over 100 parts per billion.

“We are continuing to enjoy significant exploration success at the Koné project given the discovery of higher-grade satellites, with notably the Petit Yao discovery announced late last year,” says De Ciccio.