Mako Gold hits up to 7.55 g/t gold as it extends Napié zone to 1-kilometre
The company is planning follow-up drilling after the wet season, which usually ends in November in Cote d’lvoire.
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.
134 stories · page 7 of 7
The company is planning follow-up drilling after the wet season, which usually ends in November in Cote d’lvoire.
The permit applications are situated along a regional fault and in the same greenstone belt which hosts Barrick Gold’s 4.9 million-ounce Tongon Gold Mine.
The shortfall supplements the $409,745 raised in the company's 1 for 4 non-renounceable entitlement offer.
A 1 for 4 non-renounceable entitlement offer raised $409,745 with a $1.114 million shortfall.
Through on-site observations, the company believes that mineralisation may be lenticular and sub-parallel to the regional 17-kilometre shear.
The company has a portfolio of gold projects in Cote d’lvoire and Burkina Faso in the gold-bearing west African Birmian greenstone belt which hosts more than 60 1-million-ounce gold deposits.
The company expects to receive assays from the 4,141-metre reverse circulation program in the coming weeks.
The three board members have acquired additional shares in the company through the recent rights issue.
The company closed a one for four non-renounceable entitlement offer on June 25, 2019, with acceptances received from 102 shareholders raising $409,745.
The company’s focus is to explore its portfolio of highly prospective projects with the aim of making a substantial gold discovery.
The event’s presenters include a former president, ambassadors and a bevy of executives from Australian companies operating in Africa.
The maiden drill program has confirmed gold at six of the nine targets.
Follow-up drilling will test the identified mineralisation and geochemical anomalies.
Individual assays returned values up to 51 g/t gold with significant widths of up to 26 metres.