Mako Gold (ASX:MKG) is starting a diamond drilling (DD) program to follow up on ‘positive’ results from its latest 10,000m reverse circulation (RC) program at the Napié Gold Project in Côte d’Ivoire.
The $16.12 million market capitalisation company aims to target ‘high-grade’ gold below previous RC and DD drilling intercepts, with the drilling work to provide ‘valuable’ structural information to improve targeting for future drilling along strike of the current 400m-spaced drill fences.
About 8 holes are planned for 800m at the Gogbala South, Tchaga North, and Tchaga West targets.
Commenting on exploration activities, Mako Gold Managing Director Peter Ledwidge says: “Many of the positive intercepts returned from our recent RC drilling program were at very shallow depths, and drilling underneath these intercepts has the potential to encounter high-grade gold.
We believe our methodical approach of auger drilling, wide-spaced RC drilling, followed up by DD, will allow us to prioritise new prospective areas quickly with the goal of growing our current 868,000-ounce maiden resource into a multi-million-ounce camp at the Napié Project.”
“… drilling underneath these intercepts has the potential to encounter high-grade gold”
The company notes drilling is expected to take about 4 weeks, with assay results expected several weeks after.
Mako Gold is an Australia-based exploration company focused on its flagship Napié Gold Project in Côte d’Ivoire. The company also owns the Korhogo Project, which consists of 2 permits adjacent to an operating mine near the Napié Gold Project.
On 31 March 2023, Mako had $1.34 million cash and cash equivalents at hand, according to its latest quarterly report published on 28 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Mako Gold Ltd