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Mako Gold delivers multiple broad high-grade gold intersections as Napié confidence grows

Assay results have been received for the first five RC holes of the planned 90-hole drill program scheduled to run through to December 2020.

Mako Gold Ltd - Mako Gold drilling at Tchaga delivers multiple high-grade intercepts
Follow-up diamond drilling is planned in the area of drill hole NARC124

Mako Gold Ltd (ASX:MKG) has delivered multiple high-grade gold intersections in first assay results from an ongoing 10,000-metre reverse circulation (RC) and diamond drilling program on Tchaga Prospect at its 224-square-kilometre Napié Project in Côte d’Ivoire.

These results have further confirmed wide and high-grade intervals within a greater than 1-kilometre strike length of gold mineralisation outlined to date.

Best results were 14 metres at 5.46 g/t gold from surface, including 5 metres at 11.28 g/t and 9 metres at 4.08 g/t from 80 metres, including 2 metres at 9.47 g/t from 83 metres, in hole NARC124, which shows two wide mineralised zones.

This hole also returned:

  • 3 metres at 2.35 g/t from 17 metres;
  • 7 metres at 1.45 g/t from 56 metres; and
  • 8 metres at 1.59 g/t from 93 metres.

Confidence increasing

Mako managing director Peter Ledwidge said: “The Tchaga prospect continues to deliver exciting drill results, which further increases our confidence in the project.

“The reported assays are from a limited area in the south end of Tchaga and are the first of many assays to come between now and the end of 2020 on our 10,000 metres drill program.

“We look forward to reporting further results as we progress our drilling northwards on Tchaga.”

Shares higher

Shares have been as much as 18% higher in early trade to 13.5 cents.

Induced Polarisation geophysics indicate the presence of a cross fault in the area of hole NARC124 that is believed to offset the mineralised zones.

To confirm the interpretation, three diamond holes are planned and the core should identify faults and intersect mineralisation to enable better targeting of subsequent drill holes in the ongoing program.

The company has received assays from five holes with results from hole NARC121 including:

  • 5 metres at 1.06 g/t from 7 metres; and
  • 4 metres at 1.33 g/t from 69 metres.

The Tchaga prospect is associated with a +40 parts per billion gold soil anomaly coincident with a +30 kilometre-long shear zone, thought to be a major control for gold mineralisation.

The drill program is following up on positive results received on the Tchaga prospect, with the company looking to advance towards a JORC maiden resource in the near term.

Quick facts: Mako Gold Ltd

Price: 0.115 AUD

ASX:MKG
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Market Cap: $29.49 m
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