Company
ASX:MKG
Mako Gold Ltd (ASX:MKG) is an Australian based exploration company focused on advancing its flagship Napié Gold Project in Côte d’Ivoire located in the West African Birimian Greenstone Belts which hosts more than 70 +1Moz gold deposits. Senior management has a proven track record of high-grade gold discoveries and delineation of Mineral Resources in West Africa.
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“Due to the recent outstanding results received on the Tchaga Prospect, the company will extend the expected date of its maiden mineral resource estimate as it continues to expand the footprint at the Tchaga Prospect,” managing director Pet
This high-grade result confirms continuity of mineralisation between oxide and fresh rock, following up on a previous intersection in fresh rock of 9 metres at 22.73 g/t gold from 32 metres.
The company believes that Gogbala has the potential to host similar stacked gold lodes as those identified on the Tchaga Prospect.
The completion of the sale agreement with Nordgold bolsters Mako's balance sheet and will help the company carry out an aggressive exploration program.
The latest drill results have increased the footprint 140 metres to the southwest with the north-south mineralised footprint of the entire Tchaga prospect now boosted to 2 kilometres.
Proceeds of the company's recent placement will strengthen Mako’s balance sheet and provide a pathway to accelerate exploration at Tchaga Prospect of the Napié Gold Project.
Proceeds of the placement will strengthen Mako’s balance sheet and provide a pathway to accelerate exploration at the Tchaga Prospect on the Napié Gold Project.
“Attracting such high-quality institutional investors speaks to the potential of the project and experience of our team,” says MD Peter Ledwidge.
The company is focused on advancing its flagship Napié Project in Côte d’Ivoire within the West African Birimian greenstone belts which host more than 70 +1-million-ounce gold deposits.
The company has entered an agreement to lift its interest in the Napié Gold Project to 90% with Perseus Mining, a producer and developer, taking a 5.1% equity holding.
Securities will remain halted until Wednesday, June 30, or when an announcement is released to the market.
The company aims to deliver a maiden mineral resource estimate later this year as drilling results continue to validate its methodical approach.
The latest results from ongoing drilling at Tchaga are from outside the main 1-kilometre-long area of recent focus for the upcoming maiden resource where four stacked mineralised lodes have been identified to date.
Final Gogbala results complete the preliminary drilling phase and pave the way for step-out drilling on two 1 kilometre-long high-priority targets.
The Korhogo Gold Project is within 30 kilometres of Barrick Gold's operating Tongon Gold Mine (4.9 million ounces) in a highly prospective greenstone belt that also hosts Montage Gold’s 3.2-million-ounce Kone gold deposit.
Assays are expected shortly for more than 75 drill holes of infill and extensional RC drilling at Tchaga and RC drilling at Gogbala as the assay lab works through a backlog of submitted samples.
A maiden drilling program will begin following the processing and interpretation of the soil sampling and airborne geophysical surveys.
A dual rig extensional and infill maiden resource drill program is ongoing at Tchaga while an extensive soil sampling program is ongoing at Korhogo Project.
Extensive shallow and continuous mineralisation has been identified in drilling to date at the Tchaga prospect.
The company is focused on exploring the Birimian greenstone belts in Côte d’Ivoire, which hosts its flagship Napié Project and represents an emerging district for world-class discoveries.
