- Mako Gold (MKG) enters a trading halt regarding an upcoming capital raising
- The company will remain in the halt until July 8 or when more details regarding the raise are released, whichever occurs first
- Mako also announced today it has received assay results from the Tchaga Prospect at its Napié Project in Côte d’Ivoire
- New results peaked at 9.04g/t gold and drilling is continuing as the company progresses towards a maiden JORC mineral resource estimate
- Shares in Mako last traded at 9.1 cents on July 5
Mako Gold (MKG) has entered a trading halt regarding an upcoming capital raising.
The company will remain in the halt until July 8 or when more details regarding the raise are released, whichever occurs first.
Mako is yet to disclose how much it intends to raise or what it will use the funds for once received.
Mako also announced today it has received assay results from further reverse circulation (RC) and diamond drill holes at the Tchaga Prospect at its Napié Project in Côte d’Ivoire.
Drilling is continuing to outline and expand the gold mineralised zones as Mako progresses towards a maiden JORC mineral resource estimate.
New results include 1 metre at 9.04 grams of gold per tonne (g/t) from 73 metres; and three metres at 2.79g/t gold from 20 metres including one metre at 6.73g/t gold from 21 metres.
Managing Director Peter Ledwidge said the results play a role in the mineral resource estimate and looks forward to receiving further results.
“The drill results announced today contribute to the expansion of the Tchaga Prospect as we move towards a JORC maiden mineral resource estimate,” Mr Ledwidge commented.
“NARC405DD has outlined multiple zones of gold mineralisation which broaden the overall width of the deposit and extend gold mineralised zones along strike.
“Drilling is ongoing on these zones and we anticipate receipt of new results in these areas shortly.”
Shares in Mako last traded at 9.1 cents on July 5. The company has a $23.4 million market cap.