Join our daily newsletter At The Bell to receive exclusive market insights
- Mako Gold (MKG) has completed a 5677-metre reverse circulation drilling program at its flagship Napié Project in Côte d’Ivoire, West Africa
- The junior gold explorer has already received assays for 30 holes from the 54-hole program at the Gogbala prospect and for all 16 holes at the Tchaga East prospect
- Mako says at Gogbala, the results so far are strong enough to warrant follow-up drilling in the area, even though assays from 24 holes are yet to be received
- Meanwhile, the company struck gold in 12 out of 16 holes at Tchaga East — an encouraging result given the prospect is so early on in the exploration process
- Though the gold hits at Tchaga East were relatively narrow, Mako Managing Director Peter Ledwidge says they still warrant follow-up drilling
- Drilling is ongoing at Tchaga with two rigs drilling both RC and diamond holes at the prospect
- Shares in Mako Gold retreated a slight 1.02 per cent today to close at 9.7 cents per share
Mako Gold (MKG) has completed a 5677-metre reverse circulation (RC) drilling program at its flagship Napié Project in Côte d’Ivoire, West Africa.
The gold explorer told investors today it has already received assays for 30 holes from the 54-hole program at the Gogbala prospect, with some encouraging results. At the same time, Mako has received assays for all 16 RC holes at the Tchaga East prospect, also part of the program.
So far, the best assay results from Gogbala include a six-metre hit at 4.97 grams per tonne of gold from 68 metres, which itself included a one-metre hit at 12.3 grams per tonne of gold from 71 metres.
Other results from Gogbala include a two-metre hit at 5.52 grams per tonne of gold from 37 metres and a four-metre hit at 2.63 grams per tonne of gold from 11 metres.
Meanwhile, Mako struck gold in 12 out of the 16 holes at Tchaga East. Best results from this prospect include a one-metre hit at 14.95 grams per tonne of gold and a separate one-metre hit at 7.12 grams per tonne of gold.
While the Tchaga East intersections are narrow, Mako said it’s encouraging that nearly all holes contained gold mineralisation so early on in the exploration process.
Mako Managing Director Peter Ledwidge said the company is “highly encouraged” by the first round of assay results, particularly from the Gogbala prospect.
“It is highly encouraging that significant gold mineralisation was intersected on all fences drilled to date which warrants follow-up drilling,” Peter said.
“These initial results indicate that Gogbala has the potential to deliver significant growth to the Napié Project as we continue to drill this exciting prospect,” he said.
As for Tchaga East, Peter said the results also warrant follow-up drilling despite their narrowness.
“The company believes that Gogbala and Tchaga East have the potential to host high-grade deposits comparable to Tchaga, which is located four kilometres to the north and two kilometres to the west, respectively,” he said.
Drilling is ongoing at Tchaga with two rigs drilling both RC and diamond holes at the prospect.
Mako is also in the middle of a soil sampling program at its Korhogo Project, which is near the Napié Project in Côte d’Ivoire.
Shares in Mako Gold spent the day comfortably in the green but suddenly retreated in the final minutes of trade to close 1.02 per cent lower at 9.7 cents per share. The company has a $24.95 million market cap.
