Mako Identifies 2KM Gold Anomaly at Korhogo, Maiden RC Drill Program Imminent

Mako Identifies 2KM Gold Anomaly at Korhogo, Maiden RC Drill Program Imminent

Mako Gold Limited (“Mako” or “the Company”; ASX:MKG) is pleased to advise that it has received the results of the 11,000m auger drilling program on the Ouangolodougou and Korhogo Nord permits which constitute the Korhogo Project1 . The permits collectively cover 296km2 hosting 17km of faulted greenstone granite contact as shown in Figure 1. Both permits are 100% owned by Mako and are readily accessible from the Mako Field Office.


HIGHLIGHTS
  • Auger drill results confirm 2km-long +20ppb gold anomaly & multiple high-priority targets at Korhogo
  • 2,000m maiden reverse circulation (RC) drill program to commence imminently
  • Further exploration including RC drilling planned on additional targets
  • The 100% Mako owned Korhogo Project has no previously recorded drilling and covers 296km2 of prospective tenure located within 15-30 km of Barrick’s 4.9Moz Tongon Gold Mine
  • Mako’s core focus remains its flagship Napié Project where a maiden Mineral Resource Estimate (MRE) is on-track for June 2022

Mako’s Managing Director, Peter Ledwidge commented:

“We are pleased that the recently completed 11,000m auger drilling program has returned large gold anomalies which pave the way for the imminent start of a maiden RC drilling program at Korhogo. The first target to be drilled is a 2km-long +20ppb gold auger anomaly with high grade cores over 60ppb Au, coincident with the faulted greenstone/ granite contact. We are highly encouraged by these coincident anomalies as this validates our motivation for acquiring these permits and increases the chance of the Company making another significant gold discovery”.

Korhogo is located in a fertile greenstone belt that hosts Barrick Gold’s 4.9Moz Tongon gold mine and Montage Gold’s 4.5Moz Kone gold deposit, both in Côte d’Ivoire, as well as Endeavour’s 2.7Moz Wahgnion gold mine just across the border in Burkina Faso (Figure 5).


A maiden 2,000m RC drill program is planned on one of the first of several anomalies outlined by the 11,000m auger program (Figure 2). The auger gold anomalies are coincident with the soil anomalies and geophysical structural anomalies identified through Mako’s previous field work.

Four fences of heel to toe RC holes will be drilled (where the bottom of one hole when projected to surface is the collar of the next hole), covering approximately 900m of the highest auger anomalies (Figure 3).

Ongoing exploration at the Korhogo Project will consist of further RC drilling on other high priority targets, as well as additional auger drilling along the structural trends in order to extend current anomalies or discover new anomalies which would then be tested with RC drilling.


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.

MKG:AU
The Conversation (0)
James Henry Anderson, gold bars.

James Henry Anderson: US$3,600 Gold, US$40+ Silver — What's Happening, What's Next?

James Henry Anderson, senior market analyst at SD Bullion, discusses the factors behind gold and silver's recent price moves, saying a restructuring of the system is taking place.

"We're not that far in terms of the psychology that it requires to really break and get really massive flows, and people really afraid of what that currency's value is going to be," he said.

Keep reading...Show less
Heritage Mining President and CEO Peter Schloo.

Heritage Mining Eyes Assay Results Following 4,500 Meters of Drilling at Key Ontario Projects

Heritage Mining (CSE:HML) is expecting to receive assay results from 4,500 meters of drilling work at both its Drayton Black Lake and Contact Bay projects this fall.

President and CEO Peter Schloo provided an update on progress at the company's gold-silver-copper assets in Northern Ontario in an interview with the Investing News Network.

“The rubber is really starting to hit the road. We've drilled off, this year, about 4,500 meters. We've had gold in each of the holes from New Millennium that we drilled earlier this year, and we've had some great success, technically, in all of our projects, thus far,” he said.

Keep reading...Show less
Fortune Bay (TSXV:FOR)

Fortune Bay

Keep reading...Show less
Stack of cryptocurrency coins with chart lines in the background.

Elemental Altus and EMX Royalty to Merge in US$100 Million Tether-backed Deal

Elemental Altus Royalties (TSXV:ELE,OTCQX:ELEMF) and EMX Royalty (TSXV:EMX,NYSEAMERICAN:EMX) are joining forces in a deal they believe will reshape the mid-tier royalty and streaming sector.

The arrangement is bolstered by a US$100 million investment from stablecoin giant Tether Investments.

Announced on September 4, the merger will create Elemental Royalty, a gold-focused royalty company with 16 producing assets and projected revenues of around US$80 million next year.

Keep reading...Show less

Latest Press Releases

Related News

×