Mako ready to strike as drilling commences at Tchaga

By Trevor Hoey. Published at Oct 29, 2019, in Mining

With the wet season now behind it, African gold mining group Mako Gold Ltd (ASX:MKG) is poised to start its much anticipated exploration campaign, building on the high grade drilling results achieved over the last 12 months, and of course the all-important discovery at the Niou Project.

Regards the latter, Mako Gold’s wholly owned Burkina Faso subsidiary, Mako Gold SARL, signed on 31 July 2016 an option agreement with a Burkinabe private company for 100% ownership of the Niou Permit.

Management informed the market today that the company had recommenced drilling at the Tchaga Prospect on the Napié Project in Côte d’lvoire, its key focus in the coming months.

Mako will be following up on previous high-grade intercepts including 28 metres at 4.9 g/t gold.

Upcoming work will include infill drilling on previous sections and along the one kilometre mineralised strike length that was extended following the last round of drilling.

As well as offering the prospect of further positive drill results which could add to the strike length, the exploration program will add confidence in management’s geological modelling.

On this note, Mako’s managing director Peter Ledwidge said, “We are excited to be drilling again on the Tchaga Prospect.

The results of this drill program should help unlock another piece of the puzzle of our geological modelling of gold mineralisation and bring Mako closer to a resource on the Tchaga Prospect.”

Drill for equity agreement preserves cash

Importantly, Mako recently negotiated a highly beneficial agreement with Geodrill which will maximise drilling metres and preserve cash during the upcoming campaign.

This is an important development as Geodrill has partnered with Mako’s management team in the past, having drilled on previous discoveries together in Burkina Faso where the Orbis Gold Project progressed to become a major producing mine.

Geodrill’s decision is significant in that the group has a strong working knowledge of the characteristics of promising early stage orebodies in Africa.

Further, the group’s decision to drill for equity is a show of faith in Ledwidge and his team who have successfully worked with Geodrill in the past.

Discussing this agreement, Ledwidge said, “We are extremely pleased to have secured a drill-for-equity agreement with such a high-calibre drilling company.

‘’We have a long-standing relationship with Geodrill and have always been impressed with the quality of their work.

‘’It will be a great endorsement for Mako to add Geodrill to our share register, since they have worked in West Africa for so many years and understand junior exploration companies better than most.

‘’We look forward to continuing and strengthening our relationship with Geodrill, which should be beneficial to all Mako shareholders.”

What to expect at Tchaga

Mako will focus on the more advanced Tchaga Prospect in its endeavour to better understand the gold mineralisation and to help move towards outlining a JORC compliant gold resource.

The program consists of approximately 2000 metres of reverse circulation (RC) drilling on the Tchaga Prospect shown below in the dashed pink circle.

The Tchaga Prospect is associated with a +40ppb gold soil anomaly and is located along the long shear zone of more than 17 kilometres thought to be a major control for gold mineralisation.

Ledwidge said that the long shear zones and coincident 23 kilometres of gold soil anomalies present excellent regional targets for future drill testing.

Three other specific targets, shown in the above map as dashed blue circles host significant gold intercepts from previous RC drilling and these will be tested in follow-up drill programs.

View Our Investment Portfolios

S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!