High-Grade Drill Results at Gogbala Confirm Similarities With Tchaga

Mako Gold Limited ("Mako" or "the Company"; ASX:MKG) is pleased to advise that it has received the first batch of assay results from the 10,000m reverse circulation (RC) drilling program at the Gogbala Prospect and six diamond drill (DD) results from the Tchaga Prospect, both at the Company's flagship Napié Project in Côte d'Ivoire. Gogbala and Tchaga are located on the same +23km soil anomaly and coincident 30km-long Napié Fault (Figure 6).

Mako's Managing Director, Peter Ledwidge commented: "The Gogbala Prospect is displaying similar structural and mineralisation characteristics as the Tchaga Prospect. We are very encouraged by the results achieved to date on Gogbala with limited wide-spaced drilling. Although it is early days it appears that Gogbala is likely to have the same stacked lodes which are prominent at Tchaga. Our strategy at Gogbala is to focus on areas which return high-grade assays and to drill outwards from these zones to delineate stacked lodes with the aim of increasing the potential mineral inventory. In the short term we will alternate drilling between Gogbala and Tchaga. We also have plans to drill the Tchaga North and Komboro prospects. We look forward to providing results from Tchaga and Gogbala as they come to hand."

HIGHLIGHTS

• RC drill results received confirm Gogbala and Tchaga host similar mineralisation styles
• 15 RC holes received at Gogbala with 12 intersecting significant mineralisation. Select results include:
  • NARC518: 7m at 6.70g/t Au from 6m; including 3m at 10.61g/t Au from 6m
  • NARC524: 8m at 2.87g/t Au from 49m; including 1m at 11.13g/t Au from 53m
  • NARC520: 8m at 1.15g/t Au from 51m
  • NARC523: 5m at 1.06g/t Au from 59m
• 6 DD holes received from Tchaga with all intersecting significant mineralisation. Select results include:
  • NARC415DD: 2m at 6g/t Au from 193m
  • NARC440DD: 3m at 2.79g/t Au from 20m1 ; 3.2m at 1.25g/t Au from 170m
  • NARC310DD: 3m at 2.28g/t Au from 160m and 3.8m at 1.22g/t Au from 196m
  • NARC416DD: 2.4m at 1.80g/t Au from 126m and 3.8m at 1.23g/t Au from 152m
• The first phase of the 10,000m drill program at Gogbala is completed with the drill rig back at Tchaga; all part of a 35,000m drilling program on the Napié Project
• Planned drilling at Tchaga will continue testing the large soil anomaly and extending zones of high gold mineralisation along strike and at depth

GOGBALA DRILLING RESULTS

Results are reported from the first 15 holes of the first phase of the planned 10,000m drill program as announced to ASX on 12 August 2021. Twelve of the 15 holes intersected significant mineralisation including 7m at 6.16g/t Au from 6m in NARC518 and 8m at 2.87g/t Au from 49m in NARC524. The aim of the Gogbala drill program is to target high-grade areas identified from previous drilling by the Company and to work outwards with the goal of delineating stacked lodes. This targeting technique has worked well at the Tchaga Prospect a few kilometres north. Mako sees many similarities in structurally controlled gold deposition between Gogbala and Tchaga. The "pinch and swell" characteristic of mineralisation observed at Tchaga is also present at Gogbala, which lends itself well to follow-up drilling along strike and down dip as shown by the planned drill-hole in Figure 3 to target a widening zone of the "pinch and swell". The Company believes that Gogbala has the potential to host similar stacked gold lodes as those identified on the Tchaga Prospect, and therefore has the potential to host a significant gold deposit.

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