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Mako Gold hits 13 metres averaging 20.82 g/t gold in shallow drilling at Napié in Côte d’Ivoire, shares up

Assay results have been received for a further five RC holes of the 10,000-metre ongoing drilling program on the Tchaga prospect.

Mako Gold Ltd - Mako Gold hits 13 metres at 20.82 g/t gold in shallow drilling within Napié Project in Côte d’Ivoire
Several extremely high-grade 1-metre assays were received within the 13-metre interval

Mako Gold Ltd (ASX:MKG) has received further high-grade results of up to 13 metres averaging 20.82 g/t gold that demonstrate thick and high-grade mineralisation within 50 vertical metres of surface at Tchaga prospect within the Napié Gold Project in Côte d’Ivoire.

The company has received the next batch of assays from five reverse circulation (RC) holes in an ongoing 10,000-metre RC and diamond drilling program.

Within the 13-metre intersection from 32 metres in hole NARC145 was 9 metres averaging 29.45 g/t and the result includes multiple high-grade single metre assays up to 102.5 g/t.

Shares have been up to 37% higher in early trade to 15 cents.

Encouraged by thick and high-grade gold

Managing director Peter Ledwidge said: “We are very encouraged by our latest drilling results that demonstrate thick and high-grade gold mineralisation within 50 vertical metres of surface and open in multiple directions.

“This is consistent with our strategy to define significant shallow gold mineralisation within our +30 kilometre corridor.

"The 13 metres at 20.82 g/t is not the result of a single high-grade assay with lesser assays spread out over the reported interval, but rather a combination of 1-metre assays which include 102.5 g/t, 60.51 g/t, 39.31 g/t and 24.23 g/t."

Extensive drill program

Tchaga prospect is associated with a +40ppb gold soil anomaly coincident with a +30-kilometre-long shear zone, thought to be a major control for gold mineralisation.

The planned 90-hole drill program is scheduled to run through to December 2020 and assays have now been received for 24 of the holes.

Ledwidge said: “Although most of the mineralisation intersected in drilling to date seems to be associated with the north-south trending shears, it appears that the high-grade encountered in NARC145 is associated with the intersection of one of the many southwest-northeast trending cross structures which may represent dilational zones.

"It is common to intersect high-grade shoots in these secondary dilational structures. This has provided us with greater geological insight within our project area and allowed us to define a range of new drill targets.

“We will be targeting more of these dilational zones in future drilling while also testing along the north-south structures.”

RC drill chips with assays.

IP surveying a useful tool

The drilling results continue to build a solid story at Napié and the Induced Polarisation (IP) geophysical survey is proving to be an extremely useful tool for delineating the overall north-south orientation of the mineralised zones.

Increasing geological understanding of the gold mineralisation encountered in drilling at Tchaga indicate the presence of high-grade zones approximately at least every 300 metres along strike.

Ongoing drilling will continue to target these zones to test for further high-grade plunging shoots.

The drill program follows up on positive results received on the Tchaga prospect in order to advance towards a maiden JORC resource.

Quick facts: Mako Gold Ltd


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Market Cap: $35.17 m

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Mako Gold working towards maiden resource at Napié Gold Project

Mako Gold Ltd's (ASX:MKG) Peter Ledwidge speaks to Proactive's Andrew Scott while at the Mines & Money event in London 2019. They've recently completed 19 reverse circulation (RC) holes for 2,090 metres at its Tchaga Prospect within the Napié Gold Project in Cote d’lvoire, West Africa.

on 25/11/19

3 min read