- Mako Gold (MKG) accelerates its drill programs at the Napié project in Côte d’Ivoire with another drill rig starting up
- While one drill rig is undertaking reverse circulation drilling on the Gogbala prospect, the additional rig is completing diamond drilling at the Tchaga prospect
- The company is pushing to progress work with the release of a maiden JORC Mineral Resource Estimate for the project set for the first half of next year
- Assay results from drilling at both prospects are expected prior to Christmas with additional results expected in January
- Shares have been trading 4.17 per cent lower at 11.5 cents
Mako Gold (MKG) has accelerated its drill programs at two prospects within the Napié project in Côte d’Ivoire with another drill rig starting up.
The company entered into a farm-in and joint venture agreement on the Napié Permit with Occidental Gold SARL, a subsidiary of dual-listed West African gold miner, Perseus Mining (ASX/TSX:PRU).
Mako currently own a 51 per cent interest in the project and has the ability to earn up to a 75 per cent interest through the delivery of a feasibility study and has recently entered into a binding agreement with PRU to consolidate ownership to 90 per cent.
While the initial drill rig is undertaking reverse circulation (RC) drilling on the Gogbala prospect, another rig has been mobilised to site to begin diamond drilling (DD) deeper targets at the Tchaga Prospect.
Both prospects are located on a 23-kilometre soil geochemical anomaly and coincident 30 kilometre-long Napié Fault.
The company organised the additional rig with the aim of accelerating exploration towards a maiden JORC mineral resource estimate which is planned for the first half of next year.
With two rigs on the ground, Managing Director, Peter Ledwidge said the company will be able to test regional targets with the aim of discovering new zones along the 30-kilometre Napié fault for future additional resource definition.
At Tchaga, all drilling is extensional which MKG said means that any significant
mineralisation intersected should add potential ounces to the MRE.
Assay results from drilling at both prospects are expected prior to Christmas with additional results expected in January.
Drilling will be halted for two weeks prior to Christmas as the Mako team takes a break. Work is scheduled to resume in the first week of January.
Shares were trading 4.17 per cent lower at 11.5 cents at 3:22 pm AEDT.