Mako moves a step closer to JORC compliant resource


Published 09-AUG-2019 10:42 A.M.


3 minute read

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Mako Gold (ASX:MKG) has today released assays results from the final eleven holes of its 27 hole reverse circulation (RC) drill program.

The final results of the current program, which is being undertaken at the Napié Project in Côte d’Ivoire, comes just days after Mako lodged two applications for exploration permits with the Ministry of Mines in Cote d’Ivoire that would more than double the company’s footprint in the region to 520 square kilometres.

Read: Mako looks to more than double Côte d’Ivoire landholding

Drilling results have been outstanding thus far with the Napié Project potentially comparable with the $31 billion capped Barrick Gold’s 4.9 million ounce Tongon project lying to the north-east and the $1 billion capped Perseus Mining’s (ASX:PRU) 3.4 million ounce Yaoure project situated to the south.

The connection with Perseus goes deeper.

In the following Hot Copper video, MD Peter Ledwidge explains the Perseus connection.

Mako is earning up to a 75% interest in the Napié Project under a farm-in and joint venture agreement with Occidental Gold SARL, a subsidiary of Perseus. Mako currently holds a 51% interest in the permit and is the operator of the project.

Mako’s Napié Project is in close proximity to Barrick's 4.9Moz Tongon project and Perseus Mining’s 3.4Moz Yaoure project.

Today's results

The majority of today’s results were received from the remaining eight holes of the Tchaga Prospect. The results show narrow gold intercepts and display a best individual result of 1m assays up to 7.55g/t Au (NARC095).

Select results from the July campaign can be seen below.

Drill results from July 2019 drilling with select previous drill results and priority drilling target at the Tchaga prospect

During the July drilling campaign, Mako extended the gold mineralised zone to 1km strike length on the Tchaga Prospect. The wide and high-grade gold intercepts received from drilling to date have clearly identified an area which the company will focus on in its endeavour to outline a JORC compliant gold resource with further drilling.

The final three assays were delivered from RC drill holes along one drill fence between the Tchaga and Gogbala prospects.

Two of the three drill holes intersected gold, with best intercepts of 1m at 1.48g/t Au (NARC099) and 1m at 1.27g/t Au (NARC098). While no significant width of gold mineralisation was intersected, these drill holes confirm that there is gold mineralisation along this section of the 17km-long shear.

The results suggest that this area could be a target for future exploration and confirm that the shear zone hosts gold mineralisation two kilometres southwest of the Tchaga Prospect.

Here are the results in full:

Mako has delivered outstanding assay results for its July drilling campaign

Further drilling

Mako will now turn its attention to a follow up drill program to be conducted after the wet season. Drilling will begin circa November 2019, with several targets already identified. The company’s focus will be on the Tchaga Prospect, particularly a 1km strike zone as seen below:

Prospects and drill targets at Napié (dashed lines: pink = high priority; blue = second priority)

The next drill program will focus on infill drilling between sections as well as extending the strike-length and width of mineralisation in the directions marked as “Open”.

“We are thrilled to have outlined 1km of strike length of gold mineralisation in our latest drilling campaign,” Mako Managing Director Peter Ledwidge said.

“We are focusing on the big picture and feel confident that Mako can move quickly towards a resource on the Tchaga Prospect. To this end, we hope to be drilling again on the Tchaga Prospect shortly after the end of the wet season.”

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

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