Mako Gold hits 13 metres averaging 20.82 g/t gold in shallow drilling at Napié in Côte dIvoire, shares up

By Deputy Chief EditorAugust 11, 2020

142 1 minute read

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 dIvoire.

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[hhmc]

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[hhmc]

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.”