Commodities, Exploration/Development, Gold, News

Mako Gold grows maiden resource potential

Gold

Mako Gold has extended the strike length of the Tchaga prospect within the Napié project in Côte d’Ivoire by two kilometres.

Drilling has increased the size Lode 1 of Tchaga, which is expected to add to Mako’s maiden mineral resources estimate of the Napié project.

The drills results have increased the footprint 140 metres which has led to the increase.

Twenty-two of 29 holes drilled at Tchaga discovered wide significant gold mineralisation.

One drilling result from Tchaga includes 36 metres averaging 1.11 grams per tonne of gold over multiple zones from 40 metres, as well as 10 metres at 1.92 grams per tonne of gold from 40 metres and 18 metres at 0.99 grams per tonne of gold from 58 metres.

Mako managing director Peter Ledwidge said the company is expecting more drilling results shortly.

“Our exploration strategy is paying off, as we once again increase the mineralised footprint of the Tchaga prospect with our methodical approach of following mineralisation along strike on each lode, as well as targeting new lodes to the south and north of known lodes,” Ledgwidge said.

“We have significantly increased the size of Lode 1 and intend to apply this same strategy to the other lodes we have discovered to date at Tchaga.

“The extension of Lode 1 indicates a potential increase to the size of our upcoming maiden resource estimate. Drilling is ongoing at Tchaga, and we anticipate receipt of more results shortly.”

In July, Mako signed an agreement to acquired Perseus Mining’s 39 per cent stake in the project, increasing Mako’s interest from 51 per cent to 90 per cent.

Two deferred milestone agreements were also included as part of the transaction, including a resource definition payment of $2.4 million and commercial production payment of $2.4 million.

African American Investment Fund (AAIF) owns the remaining 10 per cent interest in the Napié project.

Mako stated there is still significant portions of Tchaga that remain untested, with mineralisation open in all directions.

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