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Gogbala Extensional Drilling Delivers Further High-Grade Gold At Napié

Mako Gold Limited (“Mako” or “the Company”; ASX:MKG) is pleased to advise that it has received assay results from 25 reverse circulation (RC) holes from the ongoing 10,000m drill program at the Gogbala Prospect, within the Company’s flagship Napié Project in Côte d’Ivoire. Gogbala is located on a +23km soil anomaly and coincident 30km-long Napié Fault (Figure 3).


HIGHLIGHTS

  • Gogbala drilling returned multiple high-grade intercepts, including 1m at 30.89g/t Au intersected from an emerging zone 2km north of the priority Mineral Resource Estimate (MRE) area
  • Results are from extensional drilling and will increase the size of the upcoming maiden MRE
  • Several holes host multiple gold mineralised intersects including NARC609 which hosts a cumulative 24m of significant mineralisation
  • 25 RC holes received with 18 holes intersecting significant mineralisation. Highlights include:
    • NARC619: 1m at 30.89g/t Au from 46m
    • NARC623: 15m at 1.17g/t Au from 109m; including 5m at 2.15g/t Au from 110m
    • NARC610: 5m at 4.61g/t Au from 158m; including 1m at 15.71g/t Au from 162m
    • NARC608: 6m at 1.41g/t Au from 17m; including 2m at 3.10g/t Au from 17m; and
      • 5m at 2.64g/t Au from 73m
    • NARC598: 3m at 3.62g/t Au from 18m; including 1m at 6.69g/t Au from 19m; and
      • 7m at 1.80g/t Au from 27m; including 1m at 5.69g/t Au from 30m; and
      • 4m at 1.18g/t Au from 109m
    • NARC609: 4m at 2.66g/t Au from 34m; including 1m at 5.94g/t Au from 35m; and
      • 4m at 1.48g/t Au from 72m; and
      • 16m at 0.83g/t Au from 93m; including 4m at 1.61 from 94m
    • NARC620: 6m at 1.26g/t Au from 97m
    • NARC611: 3m at 2.32g/t Au from 64m
    • NARC617: 6m at 1.08g/t Au from 23m
  • RC drilling is ongoing at Gogbala and a DD rig is expected to arrive within a week to drill deeper holes with the aim of increasing the resource at depth

Mako’s Managing Director, Peter Ledwidge commented:

“We are pleased with the ongoing results from our extensional drilling at the Gogbala Prospect. Having 18 of 25holesreturnsignificantgoldresultsindicateshowwidelymineralisedtheGogbalaProspectis.Theseresults will add ounces to the upcoming maiden Mineral Resource Estimate (MRE) scheduled forQ2-CY22.

In addition to the positive results returned from the 2km-long high-priority maiden MRE zone, further promising intersects were returned outside that zone, which highlights the blue sky that remains at Gogbala and the whole Napié permit. Extensional drilling is ongoing at Gogbala in order to maximize the size of the upcoming MRE. We look forward to providing further results as assays are received.”

Click here for the full ASX Release

This article includes content from Mako Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Quimbaya logo (CNW Group/Quimbaya Gold Inc.)

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About Quimbaya

Quimbaya is active in the exploration and acquisition of mining properties in the prolific mining districts of Colombia . Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Department, Colombia .

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Cautionary Statements

This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the completion of the Offering and the timing thereof, and the anticipated use of proceeds of the Offering are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "should" or "would" or occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will complete the Offering on the terms disclosed, that the Company will receive all necessary regulatory approvals for the Offering, that the Company will use the proceeds of the Offering as currently anticipated; and assumptions relating to the state of the financial markets for the Company's securities. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company may not be able to raise funds under the Offering, as currently anticipated, that the Company may fail to receive any required regulatory approvals for the Offering, that the Company will not use the proceeds of the Offering as anticipated, market volatility, unanticipated costs, changes in applicable regulations, and changes in the Company's business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

SOURCE Quimbaya Gold Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/10/c6999.html

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