Mako Gold opens higher on start of 10,000-metre drill program at Napié Gold Project in Cote dIvoire

By Deputy Chief EditorJune 25, 2020

149 1 minute read

Mako Gold Ltd (ASX:MKG) has started a 10,000-metre drilling program at the Napié Gold Project in Côte dIvoire, comprising 9,000 metres of reverse circulation (RC) drilling and 1,000 metres of diamond drilling.

The program has three objectives in advancing towards Mako's goal of delineating multi-million-ounce gold deposits at the project and shares have been more than 7% higher in early trade to 9 cents.

The company's first objective from the program is to define a JORC maiden resource on the Tchaga prospect.

Follow-up high-grade results[hhmc]

Infill drilling will follow-up on wide and high-grade results received from previous drill programs along a 1-kilometre strike-length, including:

36 metres at 3.09 g/t from 43 metres;
28 metres at 4.86 g/t from 83 metres;
25 metres at 3.43 g/t from 53 metres; and
18 metres at 3.25 g/t from 39 metres.

The second objective is to extend mineralisation along strike at Tchaga, by drill testing coincident geophysical and soil geochemical anomalies to the north and south.

Thirdly, the program is designed to identify and test other highly prospective mineralised zones at Napié.

First assays mid to late July[hhmc]

Managing director Peter Ledwidge said: “We are excited to be testing other high-priority targets on the permit, some of which have had little or no follow-up drilling since mid-2018.

“Our recent capital raise and the impending finalisation of the sale of our Niou Project in Burkina Faso to Nordgold ensures ample funding to complete the planned program.

“The first assay results are expected in mid to late July and will continue to the end of 2020.”

Drilling will expand on previously drilled mineralised zones, including the Gogbala, Tchaga North and Tchaga East prospects.

In addition, further exploration work including possible drilling is planned on the untested Komoro prospect.