leadf
logo-loader
viewMako Gold Ltd

Mako Gold increases Côte d’lvoire footprint on grant of Ouangolodougou Permit near Barrick’s Tongon mine

Ouangolodougou, along with the Korhogo Nord permit now constitute the Korhogo Project, which collectively cover 296 square kilometres over 17 kilometres of faulted greenstone granite contact. 

Mako Gold Ltd - Mako Gold increases footprint in Côte d’lvoire, with granting of Ouangolodougou Permit near Barrick’s Tongon Gold Mine
The Ouangolodougou permit is valid for four years from the date of granting

Mako Gold Ltd (ASX:MKG) has increased its footprint in Côte d’lvoire after a decree from the country’s Ministry of Mines granting the Ouangolodougou Permit, which covers 111 square kilometres of prospective tenure within 15 kilometres of Barrick Gold Corp’s (NYSE:GOLD) (TSE:ABX) (FRA:ABR) 4.9-million-ounce Tongon Gold Mine. 

Ouangolodougou and the Korhogo Nord permit now constitute the Korhogo Project, which collectively covers 296 square kilometres over 17 kilometres of faulted greenstone granite contact, with both permits 100%-owned by Mako. 

The Ouangolodougou permit is valid for four years from the date of granting and can be renewed twice for a period of three years each.

Maiden exploration program

Mako managing director Peter Ledwidge said: “We are pleased to have secured a further 111 square kilometres of prospective tenure in Côte d’Ivoire, within the same Birimian greenstone belt as Barrick’s 4.9-million-ounce Tongon Gold Mine.

“To our knowledge, no previous exploration has been conducted on the Ouangolodougou permit, so we are excited to be launching a maiden exploration program on the permit shortly.

“Our primary focus remains the Napié Project, where we currently have two drills operating around the clock.”

Ouangolodougou

Korhogo is in the same greenstone belt of Barrick Gold’s Tongon mine and Montage Gold Corp’s (CVE:MAU) 1.2 million ounces Kone gold deposit, both in Côte d’Ivoire, as well as Teranga Gold Corp’s (TSE:TGZ) (OTCMKTS:TGCDF) (FRA:0TGA) 2.7 million ounces Wahgnion gold mine across the border in Burkina Faso.

The proximity to Barrick’s Tongon processing and mine infrastructure has the potential to create accretive development and processing synergies should Mako be successful in discovering a gold deposit on the Korhogo Project.

Ouangolodougou, as well as Korhogo Nord, were selected by Mako as they cover significant greenstone-granite contact along a regional fault.

The company believes that the strategic location of the permits presents excellent targets for high-grade orogenic shear-hosted gold deposits.

Ouangolodougou has 10 kilometres of faulted greenstone/granite contact, while Korhogo Nord has 7 kilometres of contact.

Mako is planning a methodical exploration program on the Korhogo Project, which will commence shortly with a soil sampling program.

A maiden drilling program is planned at Korhogo once the soil sampling results are received.

Tchaga East, Tchaga and Gogbala update

The planned 1,500 metres reverse circulation (RC) drill program on the Tchaga East Prospect is now complete and the rig has returned to the Tchaga Prospect to resume resource definition drilling.

A total of 1,679 metres was drilled in 16 holes at Tchaga East.

Samples will be shipped to the lab shortly, with assay results anticipated in mid to late February.

Also, four holes of the 5,200-metre RC drill program on the Gogbala Prospect have been completed.

Quick facts: Mako Gold Ltd

Price: 0.1 AUD

ASX:MKG
Market: ASX
Market Cap: $25.72 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

Mako Gold details exploration plans at newly-acquired Korhogo project

Mako Gold Ltd's (ASX:MKG) Peter Ledwidge caught up with Proactive's Andrew Scott after announcing they've started a soil geochemical survey on the recently granted Korhogo Gold Project in Côte d’Ivoire. No previous exploration has been recorded on the permits which covers over 296 square...

1 week, 3 days ago

3 min read