Drill rig at the Gogbala prospect. Source: Mako Gold
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mako Gold (MKG) hits further gold mineralisation at the Napié Project in Côte d’Ivoire ahead of maiden mineral resource estimate
  • An extensional drilling program is underway across the Gogbala prospect with the latest results returning five metres at 4.61 g/t gold and 15 metres at 1.17 g/t
  • MKG says the results also indicate potential for further stacked zones, and intersections in emerging zones which could increase the mineralised footprint
  • Reverse circulation drilling is ongoing and a diamond rig is being mobilised to site to drill deeper holes with the aim of increasing the resource at depth
  • Company shares have ended the day trading 2.27 per cent higher at 9 cents

Mako Gold (MKG) has hit significant gold mineralisation in 18 of 25 reverse circulation (RC) drill holes completed at its Napié Project in Côte d’Ivoire.

In June last year, the company entered into a binding agreement with ASX-listed Perseus Mining (PRU) to consolidate ownership of the project from 51 per cent to 90 per cent.

Now, an extensional drilling program is underway across the Gogbala prospect, which is located on a 23 kilometre-long soil anomaly and the coincident 30 kilometre-long Napié Fault.

The latest results come from 25 drill holes completed for an upcoming maiden mineral resource estimate (MRE), scheduled for the second quarter of this calendar year.

From the extensional drilling, the company said mineralised intervals returned, including five metres at 4.61 grams per tonne (g/t) gold and 15 metres at 1.17 g/t, will add potential ounces to the upcoming MRE.

Several drill holes also hit multiple zones of gold, which the company plans to follow up, given the possibility of discovering further stacked zones that would widen the overall mineralisation width at the prospect.

Moreover, Mako is particularly encouraged by a recent hit of one metre at 30.89 g/t gold in an emerging zone, which it said indicates “a clear path to increasing the mineralised footprint” to the north, with the goal of outlining a larger resource both pre and post the maiden MRE.

While RC drilling continues, a diamond rig is also expected on site shortly to drill deeper holes with the aim of increasing the resource at depth.

Company shares were trading 2.27 per cent higher at 9 cents at market close.

MKG by the numbers
More From The Market Herald
Elsight (ASX:ELS) - CEO, Yoav Amitai

" Elsight (ASX:ELS) receives Halo order from Brazilian UAV services provider

Elsight (ASX:ELS) has received an initial order from Speedbird Aero, a leading Brazil-based comprehensive unmanned aerial…

" NRW Holdings (ASX:NWH) signs contract extension for Curragh Mine

NRW Holdings' (ASX:NWH) subsidiary, Golding Contractors, signs a $1.2 billion contract extension with Coronado Curragh, a…

" Strickland Metals (ASX:STK) uncovers new gold zones at Millrose project

Strickland Metals (ASX:STK) has announced more drill results from its Millrose gold project in Western Australia.
Investigator Resources (ASX:IVR) - Managing Director, Andrew McIlwain

" Investigator Resources (ASX:IVR) intersects high-grade silver at Uno Morgans

Investigator Resources (ASX:IVR) has intersected up to 383g/t silver from its Uno Morgans project in South…