Mako Gold kicks off exploration on recently granted Korhogo permits in Côte d’Ivoire
The company’s core focus remains on its flagship Napié Project where two drill rigs are operating on double shifts.
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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The company’s core focus remains on its flagship Napié Project where two drill rigs are operating on double shifts.
Ouangolodougou, along with the Korhogo Nord permit now constitute the Korhogo Project, which collectively cover 296 square kilometres over 17 kilometres of faulted greenstone granite contact.
The company has started the drilling program at the prospect after encouraging results from a recently completed IP geophysical survey.
Multiple wide gold mineralised intersections with internal high-grade intervals were returned from the stacked mineralised zones within the maiden resource target area on Tchaga Prospect.
The recent drilling results and 3D modelling have increased the company’s confidence in its targeting strategy leading into 2021.
The company is exploring for multiple million-ounce gold deposits in the highly prospective Birimian greenstone belts in Côte d’Ivoire.
Assay results were received for a further four RC holes from the ongoing 10,000- metre RC and diamond drill program on its 224 square kilometres Napié Project in Côte d’Ivoire.
Drill results were returned from the Tchaga Prospect within the maiden resource target area, as well as from new conceptual exploration targets outside this area.
The funds will support ongoing drilling and a maiden mineral resource estimate at the Napié Gold Project in Côte d’Ivoire.
The board changes bolster the corporate, industry and West African experience of Mako as it continues the acceleration of exploration and resource development at its flagship Napié Gold Project in Côte d’Ivoire.
An initial exploration program on the permit is set to begin following the current wet season as soon as late October.
Core from a further 13 reverse circulation drillholes will be shipped to the lab for assay imminently and 14 diamond holes have been completed with core being logged on site.
Together with existing cash reserves of $2.8 million and proceeds from divesting the Niou project, the placement ensures the company is well funded to execute its strategic plan.
Assay results were received for a further five RC holes on of the 10,000-metre ongoing drilling program on the Tchaga prospect on August 11.
Assay results have been received for a further five RC holes of the 10,000-metre ongoing drilling program on the Tchaga prospect.
The prospect continues to deliver solid gold results, with the company aiming to advance towards a maiden JORC resource.
During the quarter the company commenced a 10,000 metre, 90-hole reverse circulation (RC) and diamond drilling (DD) program on the Napié Project.
Assay results have been received for the first five RC holes of the planned 90-hole drill program scheduled to run through to December 2020.
The company is fully funded for its 2020 exploration program following completion of the placement and definitive sale of the Niou Project.
The drilling program aims to test high priority drill targets at Tchaga to expand previously drilled mineralised zones, advance towards a maiden resource and test other prospects on the Napié permit.