leadf
logo-loader
viewMako Gold Ltd

Mako Gold secures funding in share placement for Tchaga drilling

The valuable funds will be used to continue drilling at the emerging Tchaga Prospect where recent results included 36 metres at 3.06 g/t gold.

Mako Gold Ltd - Mako Gold secures funding in share placement for Tchaga drilling
The new drilling program at Tchaga will support establishing a maiden JORC resource estimate

Mako Gold Ltd (ASX:MKG) has secured $680,000 as part of a share placement priced at 7 cents with a 1:5 attaching 10-cent option expiring 30 November 2020.

Funds will be used for additional drilling at the emerging Tchaga Gold Prospect within the Napié Project in Côte d’Ivoire.

The planned drilling program will commence in early 2020 and will be following up recent results that include 36 metres at 3.06 g/t gold.

To date, Mako has outlined significant wide zones of gold mineralisation at the Tchaga Prospect over a 1.4-kilometre strike length.

Infill drilling will tighten up some of the widely spaced drilled areas to support efforts to establish a maiden JORC resource.

Placement welcomes new investors to register

Mako’s managing director Peter Ledwidge said: “We are very pleased with the interest shown in the company and the support from our existing shareholders.

“It’s also pleasing to welcome certain new professional investors to the company.

“This additional funding will ensure that we are well funded to carry out our planned drilling activities on the Tchaga Prospect in Cote d’Ivoire early in 2020.

“We would like to thank all shareholders for their ongoing support and look forward to kicking off continuing drilling activities at Tchaga shortly.”

Quick facts: Mako Gold Ltd

Price: 0.105 AUD

ASX:MKG
Market: ASX
Market Cap: $26.93 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Mako Gold Ltd named herein, including the promotion by the Company of Mako Gold Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Tony Locantro 'hunting for the next Northern Star' following Saracen merger

Alto Capital's Tony Locantro caught up with Proactive's Andrew Scott following the news gold miners Northern Star (ASX:NST) and Saracen (ASX:SAR) have agreed to a merger. He says with the gold price where it is these miners are 'spitting cash' and adds that sometimes the best way to add to...

3 weeks, 2 days ago

2 min read