Total
0
Shares
Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mako Gold has reported on results received from the first 16 holes of its 27 hole RC drill program
  • Results returned from the drill have doubled the strike of gold mineralisation from 500 metres to 1 kilometre
  • Future drills are planned to better define the mineralisation

Mako Gold has reported on assay results received from the first 16 holes of its 27 hole reverse circulation drill program at the Napié Project in Côte d’Ivoire.

Mako is earning a 75 per cent interest in the Project under a farm-in and joint venture agreement with Occidental Gold SARL, which is a subsidiary of West African gold mining company Perseus Mining Limited.

Previous rotary air blast drilling and soil anomalies has identified multiple gold trends extending over 29 kilometres.

The most recent drill consisted of 24 RC holes, for a total of 3664 metres, drilled on the Tchaga Prospect and three RC holes were completed between the Tchaga and Gogbala Prospects.

The current drill program was designed to extend mineralisation over a 500 metre strike length in previous programs on the Tchaga Prospect.

Mako has confirmed that assays received from recent drilling have doubled the strike extent of gold mineralisation to 1 kilometre.

Significant drill intersections include 2 metres @ 6.37 g/t gold from 4 metres, and 18 metres at 3.25 g/t gold from 39 metres.

These significant intersections are partially related to gold soil anomalies that coincide with the 17 kilometre long interpreted shear.

The mineralisation that has been observed so far is not restricted to a primary lithology and has been observed in turbine sediments and igneous rocks.

Through field exploration it is believed that the mineralisation may be sub-parallel and outward curved to the regional 17-kilometre shear. It is not unusual for gold deposits to be outward curved and could explain the irregular nature of the mineralisation.

Future drilling programs are planned to help better define the mineralisation. Assay results from the final eight holes at Tchaga are pending and if the results are positive it may further extend the mineralised zone.

Mako’s Managing Director Peter Ledwidge is pleased with the results and is looking forward to future drills.

“We are encouraged by the results received to date from our recent drilling program at Tchaga which has doubled the strike length of gold mineralisation and further enhanced the potential of the project,” he said.

“We are eagerly awaiting the remaining assay results from our Tchaga drilling which may extend the mineralised trend even further, as well as regional drilling results.”

Mako shares are up almost 15 per cent trading for 10 cents a piece with a market cap of $6.660 million.

MKG by the numbers
More From The Market Herald

" Moho Resources (ASX:MOH) eyes $1.51m & enters agreement with Whistlepipe

Mining company Moho Resources (MOH) has completed a bookbuild to undertake a $1.51 million placement.
The Market Herald Video

" ASX debutant Eastern Metals (ASX:EMS) to develop former Kidman Resources’ projects

Eastern Metals (EMS) began trading on the ASX today after raising $6 million through its IPO.

" Desert Metals (ASX:DM1) highlights PGEs at Innouendy

Desert Metals (DM1) has identified platinum group elements (PGEs) at the Innouendy project in Western Australia.
Auroch Minerals (ASX:AOU) - Managing Director, Aidan Platel

" Auroch Minerals (ASX:AOU) to begin drilling at Ragless Range

Auroch Minerals (AOU) will begin a diamond drilling program at the Ragless Range zinc target at its Arden Project in South Australia.