Mako Gold completes trenching at Napié Gold Project's Tchaga North prospect
Mako Gold Ltd (ASX:MKG) has provided updates on its flagship Napié Gold Project in Côte d’Ivoire, where it has completed a trenching program at the Tchaga North prospect, and on its Korhogo Manganese Project where it is seeking a strategic partnership.
Napié Gold Project
Mako has completed the mechanical trenching program on newly identified high-grade gold zones at Napié’s Tchaga North prospect, excavating a total of 762 metres with samples of the trenches taken at 1-metre intervals.
The trenching targets were identified during recent mapping and rock chip sampling which returned results such as 79.50 g/t, 76.10 g/t and 60.66 g/t gold. The targeted zones include the Ladder Zone, Central Zone and Double Zone as well as some newer targets recently identified by field mapping.
With the mapping and sampling of trenches complete, Mako is awaiting assays from the lab.
Once the assays of the trenching have been received, Mako management will return to the site and evaluate the trenches to assist in planning a drilling program on the newly identified high-grade gold zones at Tchaga North.
The company geologists observed a multitude of quartz veins and stringers in stockworks in many of the trenches. They note that many of the veins and stringers are oriented in a general east-west orientation and have not been tested by drilling to date.
Mako continues to seek a strategic partnership on the Korhogo Manganese Project and has been encouraged by market interest to date. Management will travel to Côte d’Ivoire to host site visits in the coming weeks.
The object of a strategic partnership is to seek third-party funding for the Korhogo Project, allowing Mako to concentrate its efforts on advancing the Napié Gold Project.
Mako managing director Peter Ledwidge said: “We have been advancing the Napié Gold project as well as the Korhogo Manganese Project with low-cost exploration during this difficult period in the markets.
“We are pleased to have attracted the attention of several interested parties for a potential strategic partnership on the Korhogo Project, which validates the significance of our manganese discovery.
"Manganese prices have risen significantly following the impact of Cyclone Megan on global manganese production as well as its increased use in the EV revolution.
“Mako is well leveraged on the resurgence of both gold and manganese prices and is looking forward to providing newsflow throughout the year on the advancement of the Napié and Korhogo projects.”
Mako also advises that it has now concluded its due diligence on the potential Goldridge acquisition. The due diligence consisted of reviewing the data supplied by Goldridge, and an on-site property visit last month.
Mako had signed a 6-month Exclusivity Deed with Goldridge in November which has now expired. Goldridge is now undertaking a 4,000-metre diamond drilling program to test some targets on the project and to satisfy the conditions of their earn-in/ joint venture agreement with the registered permit holder.
Mako says it will wait for the assay results of the Goldridge drilling program for a final assessment of the project prior to resuming discussions with Goldridge on a potential acquisition.
Source: https://www.proactiveinvestors.com.au/