Mako Gold achieves all objectives from diamond drilling at Napié; new zone discocvered at Tchaga

Mako Gold Ltd (ASX:MKG) has received highly encouraging results from a structural diamond drill (DD) hole at the Tchaga Prospect, within its 90%-owned flagship Napié Project in Côte d’Ivoire.

Hole (NADD020) was drilled at Tchaga for structural studies to improve the geological model and test for mineralisation outside of the current 545,000-ounce resource and at depth.

A highlight of the results was the discovery of a new shallow gold mineralised zone outside the current mineral resource returning 23 metres at 1.01 g/t gold from 53 metres.

Further to this, wide zones of gold mineralisation were also intersected at depth, including 7.7 metres at 1.24 g/t gold from 425 metres and 28.9 metres at 1.17 g/t from 436.1 metres.

Tchaga is on a +23-kilometre soil anomaly and coincident 30-kilometre-long Napié Fault with the resource at this deposit forming most of the Napié Project's 868,000-ounce resource.

Assay results from structural hole NADD020 - New assays shown in yellow - Note new mineralised zone discovered outside the Mineral Resource Estimate (MRE) limit 1.

With the diamond drill now complete, Mako has sent in structural consultants engaged to advance structural interpretation on Napié, with the work to start in March 2023.

The work aims to enhance the understanding of the plunge direction of mineralisation and other structural controls to vector into the high-grade zones.

Busy period

The next couple of months will be busy for Mako.

This week it is expected to start phase 2 of its auger drilling program, with five auger rigs on site. Once results are received RC drilling will start on targets with the highest potential for resource growth.

“The deep structural diamond drill hole accomplished several objectives for us. We needed a deep hole to cross stratigraphy and structure ahead of structural studies which are scheduled to begin in March," Mako managing director Peter Ledwidge said.

"These studies should enhance our understanding of the controls on gold mineralisation to expand the mineral resource.

“We were very pleased to discover a new, shallow, wide zone of mineralisation outside the mineral resource, which is worthy of follow-up shallow drilling to expand the Tchaga resource in the future.

“We were also pleased to encounter wide zones of mineralisation at depth and believe that following the results of the structural interpretation, we will have an increased understanding of the processes which control gold deposition and that we will be able to target higher grade zones on the Napié project.”

Objectives achieved

Mako had several objectives for its work at drill hole NADD020.

The company achieved all of these, including:

1. To get a complete stratigraphic section from surface to depth to increase the structural knowledge of the Napié deposits. NADD020 was carefully selected so that a complete cross-section of lithological units and structures would be intersected. The hole achieved this and will be carefully reviewed, along with previous DD holes, by structural consultants when they begin their studies in March 2023.
2. To test for shallow mineralisation, west of Tchaga, outside the mineral resource current boundary. A broad intercept of 23 metres at 1.01 g/t gold from 53 metres was discovered. The company believes that follow-up shallow drilling after the structural interpretation may locate higher-grade intersections in the vicinity of this zone. This underscores Mako’s belief that the limits of the potential resource extend beyond what is currently defined.
3. To test for mineralisation at depth and to gain a better understanding of controls to gold mineralisation. Two zones of mineralisation which include 7.7 metres at 1.24 g/t gold from 425 metres and 28.9 metres at 1.17 g/t from 436.1 metres were intersected at depth. The company believes that this hole will provide critical information and once structural studies are completed, the information from these intersects hold potential for Mako to vector into possibly higher-grade mineralisation.

What’s next

Mako will now turn its attention to structural work and auger drilling.

1. The structural consultants will start their work in March and will use the NADD020 along with other DD holes drilled at Napié to integrate a structural model with the current mineral resource estimate. Once this is completed, the information will help to target further mineralisation through identification of a plunge direction of mineralisation or other structural controls to vector in to the high-grade “sweet spots” on the Napié Project, as Mako moves towards a mineral resource update.
2. Phase 2 of the auger drilling program is scheduled to commence later this week with five auger rigs. Once results are received RC drilling will commence on targets with the highest potential for resource expansion.