Tuesday, September 21, 2021

Mako Gold reports another Cote d’Ivoire prospect returns strong gold hits

Mako Gold ASX MKG Gogbala Tchaga drill results
A highlight intercept from Gogbala was 7m at 6.16g/t gold.

West Africa-focused explorer Mako Gold (ASX: MKG) has reported that the Gogbala prospect at its 296sq km flagship Napie project is shaping up as a lookalike for the already successful Tchaga prospect.

Latest results from Cote d’Ivoire indicate that Gogbala hosts similar mineralisation styles to Tchaga.

Of the 15 reverse circulation holes at Gogbala, 12 intersected significant mineralisation.

Better intercepts included 7m at 6.7 grams per tonne gold from 6m down hole, including 3m at 10.61g/t.

Other holes came back with 8m at 2.87g/t gold (including 1m at 11.13g/t), 8m at 1.15g/t and 5m at 1.06g/t.

These align with diamond drilling results at Tchaga that included 2m at 6g/t gold, 3m at 2.79g/t and 3m at 2.28g/, with three holes returning two separate intersections.

Focused on potential of under-explored belt

The first phase of the 10,000m Gogbala drilling has now finished and the rig is back at Tchaga, with drilling all part of a 35,000m program at the Nadie project.

Drilling at Tchaga will continue testing the large soil anomaly and extending zones of high-grade gold mineralisation along strike and at depth.

Mako states that it is focused on the discovery of large high-grade gold deposits in highly prospective and under-explored terrains in Côte d’Ivoire, and other favourable countries in West Africa.

Côte d’Ivoire contains more Birimian greenstone belts than other West African countries yet only 30 million ounces of gold resources have been found to date, making it an ideal location for future gold discoveries.

It has a stable mining-friendly government, outstanding infrastructure and a modern and transparent mining code.

Managing director Peter Ledwidge says the company is encouraged that the limited wide-spaced drilling at Gogbala is displaying similar structural and mineralisation as the Tchaga prospect.

“Although it is early days, it appears that Gogbala is likely to have the same stacked lodes which are prominent at Tchaga.”

Moving to 90% ownership of Nadie project

“Our strategy at Gogbala is to focus on areas which return high-grade assays and to drill outwards from these zones to delineate stacked lodes,” he added.

“In the short term, we will alternate drilling between Gogbala and Tchago.”

Mako also has plans to drill the Tchaga North and Komboro prospects.

The company has a farm-in and joint venture agreement on Napie with Perseus Mining (ASX: PRU).

It currently has a 51% interest and can move to 75% with the delivery of a feasibility report.

More recently, Mako has signed a binding agreement with Perseus to consolidate ownership to 90%.

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