Mako Gold Ltd (ASX:MKG) has been granted a trading halt by the ASX ahead of an announcement concerning a material acquisition relating to the Napié Project in Côte d’Ivoire
The halt will remain in place until the start of regular trading on Wednesday, June 30, or until an announcement is released to the market, whichever occurs earliest.
Tchaga prospect expanded
Earlier this month, the company expanded the Tchaga prospect at the Napié Project in Côte d’Ivoire with further reverse circulation (RC) and diamond drilling returning up to 17 metres at 3.06 g/t gold from 129 metres and 9.85 metres at 6.63 g/t from 213.15 metres, including 2 metres at 30.15 g/t.
The latest drilling results validate Mako’s methodical approach of infill drilling as well as drilling along strike and down-dip of previously identified mineralised lodes.
This increases the footprint of each lode and targets new lodes, with the aim of delivering a large maiden mineral resource estimate later this year.
"New largely untested lodes"
Managing director Peter Ledwidge said: “The footprint of the Tchaga Project continues to expand as exploration progresses with further high-grade drill intersections and new largely untested lodes that have been defined.
“The deeper high-grade results reported are significant as these confirm the high-grade shoots within the broader mineralised envelope on multiple cross-sections.”