leadf
logo-loader
viewMako Gold Ltd
(
ASX:MKG
)

Mako Gold notches up best-ever grade of 174.6 g/t gold as Tchaga drilling success continues

This high-grade result confirms continuity of mineralisation between oxide and fresh rock, following up on a previous intersection in fresh rock of 9 metres at 22.73 g/t gold from 32 metres.

Mako Gold Ltd -
Wide zones of mineralisation have been intersected over more than 300 metres across strike on Lodes 2 and 3.

Mako Gold Ltd (ASX:MKG) is trading higher after intersecting its highest-ever grade of 1-metre at 174.60 g/t gold within an interval of 10 metres at 18.98 g/t in near-surface oxide at Tchaga prospect of the Napié Project in Côte d’Ivoire.

Ongoing reverse circulation (RC) drilling continues to grow Tchaga's mineralised zone, with the latest 21 assays all intersecting mineralisation and these results have the potential to impact the size of the upcoming maiden mineral resource estimate.

Mako believes the drilling program has demonstrated that strong potential exists to further extend the footprint with large portions of the +40ppb soil geochemical anomaly yet to be drill tested.

Investors have responded positively with shares up as much as 17% in early trading to 10 cents.

“Potential open pit scenario”

MKG managing director Peter Ledwidge said: “The Tchaga prospect has delivered the highest single-metre assay of 1-metre at 174.60 g/t gold within a broader high-grade mineralised zone in oxide, which confirms the continuity of mineralisation between the oxide zone and fresh rock.

“Drilling has confirmed mineralisation in stacked repeating zones over widths greater than 300 metres across in Lodes 2 and 3.

“We are very excited to see these multiple wide mineralised zones with high-grade cores as this indicates modest stripping ratios in a potential open pit mining scenario.

“Our confidence in the Napié Project increases each time we receive assay results and we anticipate more assays from our diamond drilling at Tchaga shortly.”

Select new (yellow) and previous (white) gold intercepts on Lodes 2 and 3 at Tchaga.

Additionally, Mako believes there is also potential to extend mineralisation by drilling the strike extension of the lodes towards the southwest and further lodes to the north and to the south.

Other notable results include 10 metres at 18.98 g/t gold from 7 metres, including 3 metres at 61.80 g/t from 13 metres and 1-metre at 174.60 g/t from 14 metres; 29 metres at 1.44 g/t from 62 metres, including 5 metres at 3.16 g/t from 68 metres; 6 metres at 1.28 g/t from 11 metres; and 10 metres at 2.13 g/t from 119 metres.

Mineralisation discovered to date is shallow (less than 200 metres from the surface) and remains open along strike and at depth.

Importance of results

The high-grade intersections of 10 metres at 18.98 g/t confirm that high-grade mineralisation is continuous between the oxide zone and fresh rock.

It is noteworthy that previous preliminary metallurgical tests conducted by Mako have shown that gold recoveries in oxide and fresh rock average over 94%.

This will have positive implications in a mining scenario since high-grade gold mineralisation is present from surface and continues at depth.

Gold mineralisation also occurs in repeated stacked zones over more than 300 metres wide and continues to increase in width as drilling continues.

Numerous sections at Tchaga show a broad mineralised envelope with a core of high-grade gold - this is important as the geometry and near-surface gold mineralisation indicate a possible low stripping ratio in a potential open pit mining scenario.

Mako is currently drilling on the Gogbala Prospect targeting similar style lodes to the Tchaga deposit, with the aim of delineating multi-million-ounce deposits across the Napié Permit along the 30-kilometre Napié Fault.

Quick facts: Mako Gold Ltd

Follow
ASX:MKG

Price: 0.1 AUD

Market Cap: $38.22 m

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 named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Eagle Mountain says Western Talon is 'potential game changer' at Oracle Ridge

Alto Capital's Tony Locantro discusses Eagle Mountain Mining following comments this morning from its CEO that the Western Talon is becoming a potential game changer at Oracle Ridge. Locantro mentions new high-grade drill results from Mako Gold's Gogbala prospect as well as touching on...

1 week, 3 days ago

3 min read