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Montage's board includes Orca CEO Richard Clark, president Hugh Stuart, and directors David Field and Kevin Ross, plus Avant's Adam Spencer.
"Orca views its ownership interest in Montage as a strategic investment," it said.
"It provides exposure for the company's shareholders to an impressive property and resources portfolio in Cote d'Ivoire and Burkina Faso as well as a solid, well-funded, treasury independent of Orca.
"Montage intends to immediately commence and focus work on its 100%-owned Morondo project in Cote d'Ivoire with an aim to rapidly increase the resource inventory to plus-2 million ounces of gold … [and] assess and prioritise Montage's extensive property portfolio for evaluation."
Orca's focus is the 70%-owned Block 14 gold project in Sudan where a 2018 feasibility study highlighted sound economics for a large-scale (US$500 million) plant and mine producing up to 228,000oz a year over 13-14 years at AISC of US$780/oz off a 2.8Moz reserve/3.3Moz resource base.
