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Mako Gold (ASX:MKG) - Managing Director, Peter Ledwidge - The Market Herald
Managing Director, Peter Ledwidge
Source: The Market Herald
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  • Shares in Mako Gold (MKG) have risen in trade this morning after the company released the latest round of drilling results from its flagship Napié Project in Côte d'Ivoire
  • The results come from reverse circulation (RC) and diamond drilling at the project area and extend the mineralisation at depth and along strike
  • The best results from the drilling include a 9.85-metre intersection grading 6.63 grams per tonne (g/t) of gold from 123.15 metres
  • Mako management says today's results confirm the high-grade shoots within the broader mineralised enveloped on multiple cross-sections
  • Drilling is still ongoing at the Tchaga prospect to further extend the strike length of known mineralised lodes
  • Shares in Mako Gold are up 2.17 per cent this morning to trade at 9.4 cents each

Shares in explorer Mako Gold (ASX:MKG) have risen in trade this morning after the company released the latest round of drilling results from its flagship Napié Project in Côte d'Ivoire.

The results come from reverse circulation (RC) and diamond drilling at the Tchaga prospect in the wider project area.

According to Mako, the results extend across the mineralisation both at depth and along strike on current lodes.

The best results from the drilling include a 9.85-metre intersection grading 6.63 grams per tonne (g/t) of gold from 123.15 metres, which itself included a two-metre zone at 30.15 g/t of gold from 127.5 metres.

Other results include a 17-metre hit at 3.06 g/t of gold from 129 metres and a five-metre hit at 3.13 g/t of gold from 101 metres.

Mako Managing Director Peter Ledwidge said the deeper high-grade results were significant because they confirmed the high-grade shoots within the broader mineralised envelope on multiple cross-sections.

"The footprint of the Tchaga Project continues to expand as exploration progresses with further high-grade drilling intersections and new largest untested lodes that have been defined," Mr Ledwidge said.

"The confirmation of these high-grade intercepts at depth increases confidence in Mako being able to deliver a robust maiden mineral resource estimate with gold mineralisation present from surface to the base of a conceptual pit."

He added that drilling is still ongoing at the Tchaga prospect to further extend the strike length of known mineralised lodes.

Mako currently holds a 51 per cent interest in the Napié Project in a joint venture deal with Occidental Gold, a subsidiary of fellow ASX-listed Pursues Mining (PRU).

Under the terms of the deal, Mako can earn up to 75 per cent of Napié by delivering a feasibility study for the project.

Mako completed its first drilling program at the project in July 2018. It has now drilled more than 130 holes for almost 13,000 metres of RC drilling and 3000 metres of diamond drilling.

Shares in Mako Gold are up 2.17 per cent this morning to trade at 9.4 cents each as of 10:04 am AEST. The company has a $26 million market cap.

MKG by the numbers
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