leadf
logo-loader
viewMako Gold Ltd

Mako Gold confident that wide and high-grade intercepts support Tchaga gold discovery

Drill results were returned from the Tchaga Prospect within the maiden resource target area, as well as from new conceptual exploration targets outside this area.

Mako Gold Ltd - Mako Gold confident that wide and high-grade intercepts support gold discovery at Tchaga Prospect
An IP survey and 5,000-metre drilling program is set to commence at the Gogbala prospect this month

Mako Gold Ltd (ASX:MKG) has received wide and high-grade intersections from drilling that support a large gold discovery at Tchaga prospect on the company’s 224 square kilometre Napié Gold Project in Côte d’Ivoire.

Assays have been received for a further 19 reverse circulation (RC) and 14 diamond drill (DD) holes from the ongoing 10,000 metres RC and DD program.

The best result was 10.26 metres at 4.76 g/t from 76.5 metres, including 1-metre at 32.49 g/t from 79 metres.

Other assays from eight RC and 13 DD holes on the resource target area at Tchaga include:

  • 38 metres at 1.64 g/t from 5 metres;
  • 5 metres at 2 g/t from 41 metres, including 1.75 metres at 4.48 g/t from 44.25 metres, and 18.2 metres at 1.89 g/t from 67.8 metres, including 0.8 metres at 14.94 g/t from 77 metres;
  • 9 metres at 2.15 g/t from 47 metres, and 5 metres at 2.69 g/t from 86 metres;
  • 18.5 metres at 1.15 g/t from 114 metres, and 36 metres at 3.09 g/t from 43 metres;
  • 6 metres at 4.56 g/t from 73 metres, and 14 metres at 1.59 g/t from 92 metres;
  • 4 metres at 4.56 g/t from 42 metres, and 7 metres at 1.37 g/t from 89 metres; and
  • 7 metres at 1.96 g/t from surface.

“Significant intercepts”

Mako managing director Peter Ledwidge said: “We are pleased to have once again intersected wide and high-grade intercepts in our ongoing 10,000 metres drill program.

“The DD holes returned significant gold intercepts and have increased our understanding of the controls on gold mineralisation at the Tchaga Prospect.

“Only a few of the holes reported on were drilled in our adjusted SW direction.

“NADD012 which returned 10.26 metres at 4.76 g/t confirms that adjusting our drilling direction from W-E to NW-SE was the right decision, which effectively allows us to intersect both the N-S trending and SW-NE trending gold mineralisation.

Select gold intersects from current and previous drilling - shaded pink area is the gold mineralised zone.

Regional exploration drilling

A total of 11 RC and one DD holes were completed on various exploration targets outside the maiden resource target area at Tchaga to test multiple parallel IP chargeability highs and interpreted cross-structures.

Most of the holes did not return significant gold intersections, however, hole NARC168 returned 3 metres at 4.54 g/t from 92 metres which warrants follow-up drilling.

Gogbala prospect

The company’s planned Induced Polarisation (IP) geophysical program on the Gogbala prospect is on schedule to begin and will cover a 5 kilometre-long section of the +40 parts per billion soil anomaly which is coincident with the 30 kilometre-long shear crossing the entire Napié permit from SSW to NNE.

Ledwidge said: “We are also pleased that the IP geophysical survey on the Gogbala prospect is on track to commence this week as this will pave the way for the start of the 5,000 metres drill program in December to follow-up on our positive 2018 drilling results.”

Previous results from 24 wide spaced RC holes over a strike length of around 4 kilometres include:

  • 12 metres at 5.39 g/t from 11 metres;
  • 17 metres at 1.67 g/t from 45 metres;
  • 6 metres at 2.67 g/t from 42 metres;
  • 7 metres at 2.73 g/t from 77 metres; and
  • 2 metres at 16.81 g/t from 2 metres and 5 metres at 2.12 g/t from 19 metres.

Quick facts: Mako Gold Ltd

Price: 0.11 AUD

ASX:MKG
Market: ASX
Market Cap: $28.21 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

Gold still in bull market despite healthy correction in equities - Davide Bosio

Davide Bosio from Shaw and Partners tells Proactive's Andrew Scott there's been a 'healthy correction' in some of the gold equities affected by recent weakness in the gold price. ''With any bull market it's a season of higher highs and higher lows ... we are going to get pullbacks along the way...

5 hours, 21 minutes ago

3 min read