Mako Gold Ltd (ASX:MKG) managing director Peter Ledwidge joins Jonathan Jackson in the Proactive studio to discuss a scout drilling campaign at the Tchaga North Prospect within its 90%-owned Napié Gold Project in Côte d’Ivoire, aiming at three high-grade zones identified through recent mapping and trenching.
The initial 1,500-metre reverse circulation (RC) drilling program targets the Discovery Zone, Double Zone and Deep Artisanal Site, focusing on east-west structures with high-grade gold potential. This campaign represents the first drilling effort in these zones.
A drill-for-equity agreement with Geodrill (TSX:GEO) allows Mako to pay up to 50% of drilling costs in shares, effectively reducing cash expenditure. This agreement aims to maximise drilling metres while conserving cash resources.
Ledwidge highlighted that this drilling could unlock significant gold zones, contributing to the existing 868,000-ounce gold resource. He expressed confidence in Geodrill’s quality and their ongoing partnership.
The Geodrill agreement includes an escrow period for issued shares and a flexible payment structure, supporting Mako’s drilling objectives and potential for increased shareholding by Geodrill.