07:22 AM EDT, 07/09/2024 (MT Newswires) -- Montage Gold ( MAUTF ) on Tuesday provided a mid-year exploration update for the Kone Project.

The company said the project hosts significant exploration potential. The 2024 exploration efforts are being prioritized on delineating higher-grade satellite targets to supplement production from the start of operations.

Montage Gold ( MAUTF ) said 15 targets out of the 35 identified are being drill tested, in addition to further reconnaissance exploration to identify more targets.

The first 30,000-meter drill program is expected to be completed by the end of July, to rank high-priority targets and better inform the upcoming drill programs.

Among the highlights from drilling through June 30, the company reported 14.10 meters at 8.04 g/t gold and 17.45 meters at 2.74 g/t gold, 22.45 meters at 1.52g/t gold from Diouma North; 12 meters at 6.60 g/t gold from Lokolo Main; and 19 meters at 3.08 g/t gold from Sissedougou.

From Yere North, the company reported 14 meters at 1.62g/t gold.

The company is working to launch a second 60,000-meter drill program in the third quarter. The goal is to delineate resources at top priority targets and continue to drill test other targets.