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Mako Gold Limited (“Mako” or “the Company”; ASX:MKG) is pleased to present its Quarterly Activities Report for the period ending 31 March 2022. Activities are reported for exploration at the Company’s flagship Napié Project (“Napié”) and the Korhogo Project in Côte d’Ivoire (Figure 1).
HIGHLIGHTS – NAPIÉ PROJECT - 30,000M DRILLED IN QUARTER
GOGBALA PROSPECT- Drilling identifies two new mineralised zones outside of the current resource drill area returning 6m at 5.05g/t Au and 4m at 4.82g/t Au which includes more than 1km of undrilled Napié Fault providing pathways for resource growth following the maiden Mineral Resource Estimate (MRE) scheduled for Q2-CY22
- 109 of 139 reverse circulation (RC) and diamond drilling (DD) drill holes results reported intersected significant mineralisation, achieving a 78% success rate in drilling which will contribute to the size of maiden MRE. Notable results include:
- NARC660: 17m at 4.13g/t Au from 57m; including 5m at 12.02g/t Au from 62m
- NARC668: 7m at 1.26g/t Au from 22m; and
- 4m at 14.78g/t Au from 93m; including 2m at 27.83g/t Au from 93m
- NARC651: 10m at 1.63g/t Au from 69m; and
- 10m at 3.35/t Au from 102m; including 1m at 22.29g/t Au from 103m
- NARC579: 9m at 3.77g/t Au from 48m
- NARC569: 6m at 5.37g/t Au from 105m; including 3m at 9.61g/t Au from 106m
- NARC619: 1m at 30.89g/t Au from 46m
- NARC697: 6m at 5.05g/t Au from 79m; including 1m at 12.18g/t Au from 80m and 1m at 10.71g/t Au from 82m
- NARC703DD: 6m at 4.28g/t Au from 63m; including 1m at 14.65g/t Au from 68m
- NARC686: 4m at 4.82g/t Au from 113m
- NARC610: 5m at 4.61g/t Au from 158m; including 1m at 15.71g/t Au from 162m
- NARC642: 2m at 12.89g/t Au from 50m
- NARC643: 5m at 3.24g/t Au from 118m; including 1m at 8.17g/t Au from 119m
- NARC584: 1m at 28.93g/t Au from 115m
- NARC623: 15m at 1.17g/t Au from 109m; including 5m at 2.15g/t Au from 110m
- NARC632: 1m at 13.29g/t Au from 150m
TCHAGA PROSPECT
- Final (pre-maiden MRE) 17 RC/DD holes at Tchaga Prospect returned multiple high-grade intercepts, with 14 of 17 holes intersecting significant mineralisation. Notable results include:
- NARC621DD: 41m of mineralisation intersected over 7 zones averaging 2.85g/t Au, including:
- 6m at 1.24g/t Au from 48m; and
- 6.7m at 1.46g/t Au from 160.1m; including 1m at 6.87g/t Au from 160.1m; and
- 19.6m at 4.36g/t Au from 187.4m; including 2.2m at 23.49g/t Au from 189.8m
- NARC512DD: 14.6m of mineralisation intersected over 4 zones averaging 3.32g/t Au, including:
- 4.5m at 6.92g/t Au from 213.1; including 1m at 29.46g/t Au from 216.6m; and
- 5m at 2.28g/t Au from 256m
- NARC559DD: 63.1m of mineralisation intersected over 15 zones averaging 1.25g/t Au, including:
- 3m at 2.66g/t Au from 45m;
- 8.3m at 0.96g/t Au from 115.5m;
- 4.8m at 1.24g/t Au from 165.2m;
- 13m at 1.05g/t Au from 297m;
- 3.5m at 1.55g/t Au from 327.5m;
- 4m at 1.65g/t Au from 336m; and
- 5m at 1.66g/t Au from 361m; including 1m at 5.50g/t Au from 361m
- Results from Tchaga drilling to be included in upcoming maiden MRE scheduled for Q2-CY22
TCHAGA NORTH AND KOMBORO PROSPECTS
- Scout Aircore (AC) drill program completed on Komboro Prospect and partially completed on Tchaga North Prospect ahead of follow-up RC drill program
- Objective of program is to make new discoveries outside of the main Tchaga and Gogbala prospect areas as part of Mako’s overall strategy to define a multi-million-ounce resource on the Napié Permit
KORHOGO PROJECT
- 11,000m auger drilling program completed on high-priority structural and geochemical targets identified from previous work executed by Mako
- Maiden 5,000m RC drilling program planned following results from auger drilling
- The Korhogo Project has no previously recorded exploration and covers 296km2 of prospective tenure located within 15-30 km of Barrick’s 4.9Moz Tongon Gold Mine
CORPORATE
- $3.4M spent on exploration (drilling) this quarter to advance both Napié and Korhogo projects, with healthy $5.9M cash balance remaining at end of quarter
- Mako management was recently on-site to evaluate operations
During and subsequent to the reporting period 16,971m in 124 reverse circulation (RC) holes, 1,722m in 18 diamond drill (DD) holes, and 11,427m in 343 Aircore (AC) holes were drilled for a total of 30,120m drilled on the Napié Project.
The majority of drilling was conducted on the Gogbala Prospect during the reporting period to rapidly advance Gogbala in order to include it with Tchaga in the upcoming maiden MRE scheduled for Q2-CY22.
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MKG:AU
Sun Summit Minerals: Advancing District-scale Gold and Copper Projects in British Columbia
Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company advancing district-scale gold and copper projects in British Columbia. Its flagship JD Project, located in the prolific Toodoggone district, is the focus of an aggressive 5,000-meter drill program in 2025 targeting a potential multi-million-ounce epithermal gold-silver system.
With funding in place, a five-year exploration permit secured, and an on-site camp established, Sun Summit is executing a disciplined strategy to build scale, unlock resource value, and deliver returns to shareholders. Reinvigorated by a revamped leadership team and a refined vision, the company is leveraging high-grade, strategically located assets to drive long-term growth.
The JD and Theory projects cover over 25,000 hectares in the heart of British Columbia’s Toodoggone mining district, one of Canada’s most prospective regions for epithermal gold-silver and porphyry copper-gold systems. The district hosts several significant deposits, including Thesis Gold’s Ranch and Lawyers projects (4.7 Moz gold equivalent, ~C$250 million market cap), Centerra Gold’s Kemess underground development, and TDG Gold’s Shasta-Baker project. The area is well supported by infrastructure, including hydroelectric grid access, all-season roads, and the nearby Sturdee airstrip.
Company Highlights
- Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
- Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
- Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
- Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
- Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
- Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.
This Sun Summit Minerals profile is part of a paid investor education campaign.*
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Sun Summit Minerals
Investor Insight
Sun Summit Minerals is targeting the delineation of a multi-million-ounce gold-silver resource at its flagship JD project. With strategic positioning in an emerging consolidation hotspot, compelling valuation metrics, and a track record of discovery, Sun Summit is primed to deliver substantial value creation in the coming quarters.
Overview
Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is a Canadian mineral exploration company focused on developing its district-scale gold and copper projects in British Columbia. The company’s flagship JD Project, located in the Toodoggone district, is undergoing an aggressive 5,000-meter drill campaign in 2025 aimed at delineating a multi-million-ounce epithermal gold-silver system.
Complementing JD is the company’s Buck project, a large, bulk-tonnage gold-silver system near Houston, BC, with an initial NI 43-101 resource estimate and significant exploration upside.
With capital in hand, a five-year exploration permit secured, and a camp established at JD, Sun Summit is executing a focused strategy to build scale, unlock resource potential and drive shareholder value. The company has taken lessons from its past and re-emerged with a sharpened vision, an overhauled team and assets that are not only high-grade but strategically located to create shareholder value.
Company Highlights
- Aggressive Discovery Strategy: Sun Summit Minerals is actively advancing the JD and Buck projects in BC, targeting epithermal gold-silver and porphyry copper-gold systems. A fully funded 5,000-meter drill program at JD underway in 2025, aiming to define a multi-million-ounce resource.
- Strategic Location: Both assets are situated in prolific and mining-friendly regions of British Columbia. The flagship JD project lies in the Toodoggone district—home to Thesis Gold and Centerra’s Kemess Mine, while Buck is near the Blackwater, Huckleberry, and Equity Silver mines in central BC.
- Re-rate Potential Opportunity: Trading at just ~$7/oz gold equivalent (EV/oz) based on Buck alone, with no value currently ascribed to JD, the company represents a deep value opportunity compared to the next-door neighbour Thesis Gold trading at ~$50/oz. Success at the drill bit from the ongoing drill program at JD could drive the potential re-rating.
- Fully Funded for 2025: A recent C$10M raise (May 2025) enables a robust exploration program, including drilling, geophysics, and soil sampling. The company is well-positioned to achieve its 2025 and 2026 exploration milestones without further dilution.
- Experienced, Capital Markets-Savvy Leadership: CEO Niel Marotta brings capital markets acumen from Fidelity and Orezone. The broader team includes senior geologists and advisors with decades of success in gold discoveries and mine development in BC.
- Positioned for Consolidation: With majors like Freeport, Centerra, and Skeena investing heavily in adjacent properties, Sun Summit is strategically located and advancing at the right time in the Lassonde Curve to benefit from industry-wide M&A and consolidation trends.
Key Projects
JD & Theory Projects
The JD & Theory projects span more than 25,000 hectares in the heart of the Toodoggone mining district in north-central BC, one of Canada’s most prospective belts for epithermal gold-silver and porphyry copper-gold systems. The district is home to Thesis Gold’s Ranch and Lawyers deposits (4.7 Moz gold equivalent, C$250 million market cap), Centerra’s Kemess underground development, and TDG Gold’s Shasta-Baker project. Infrastructure around the project includes hydroelectric grid access, the nearby Sturdee airstrip and all-season roads.
The JD project hosts a 4.5 km mineralized corridor, known as Creek-Finn, with multiple underexplored targets showing evidence of both high-grade veins and broad disseminated gold systems. Historic and recent drill highlights include:
- 2.1 grams per ton (g/t) gold over 122.5 m including 121 g/t gold over 1.5 m (CZ-24-004)
- 11.7 g/t gold over 22 m including 61.2 g/t gold over 4 m (CZ97-008)
- 7.3 g/t gold over 35.7 m including 215.4 g/t gold over 1 m (JD95-0472)
The Creek Zone features high-grade epithermal veins within broader disseminated zones, supported by strong IP anomalies and gold-in-soil results up to 12.2 g/t gold. The Finn Zone hosts near-surface mineralization with extensive historical drilling (~270 holes) and is open in all directions. Other targets include McClair (porphyry copper), East McClair (copper-gold skarn) and Moosehorn.
The 2025 program includes 5,000 meters of core drilling across 25 holes, 20 km of IP geophysics, 2,000+ soil samples, and full-scale camp operations. A five-year permit secured in April 2025 provides exploration continuity through 2030.
Camp setup at JD project
Sun Summit can earn 100 percent of the JD project by making staged cash/share payments and completing work commitments through 2029. With ~C$6 million earmarked for the project this year alone, Sun Summit is expected to fulfill its 2025 and 2026 earn-in obligations without additional equity raises.
Buck Project
The 100 percent owned Buck project spans 52,000 hectares and is located near key deposits, including Artemis Gold’s Blackwater (8 Moz gold), Imperial’s Huckleberry copper mine, and Newmont’s historic Equity Silver mine. Buck features near-surface bulk-tonnage gold-silver mineralization with porphyry copper-molybdenum potential at depth.
In February 2025, Sun Summit published its inaugural NI 43-101 mineral resource:
- Indicated: 1.15 Mt @ 0.519 g/t gold equivalent (19,100 oz)
- Inferred: 52.2 Mt @ 0.489 g/t gold equivalent (820,400 oz)
Mineralization remains open in all directions. Buck is considered a strategic asset providing leverage to rising gold prices and future transaction potential, but currently receives minimal capital allocation as JD is prioritized.
Management Team
Niel Marotta – Chief Executive Officer and Director
Niel Marotta has more than two decades of capital markets experience, including a successful tenure at Fidelity (FMRCo.), where he managed the top-performing Select Gold Fund and oversaw >$1 billion in AUM. He was previously VP at Orezone Resources, where he helped lead its C$350 million acquisition by IAMGOLD. Marotta has raised over $1 billion in financing and is driving Sun Summit’s transition from a legacy explorer to a discovery-focused value generator.
Brian Lock – Executive Chairman
A veteran of the mining industry with 40+ years of executive experience, Brian Lock has led multiple public companies, including Castle Peak Mining and Scorpio Gold. His expertise spans project development, M&A and corporate governance.
Waseem Javed – Chief Financial Officer
A seasoned mining CFO, Waseem Javed ensures disciplined capital deployment and financial controls. His experience spans junior explorers and mid-tier producers across Canada and the US.
Ken MacDonald – VP Exploration
Ken MacDonald is a registered professional geologist with over 30 years in mineral exploration and permitting in BC. Formerly with the BC Mines Branch and multiple juniors, he leads Sun Summit’s technical programs and NI 43-101 compliance.
Christopher Leslie – Technical Advisor
An expert in porphyry and epithermal systems, Christopher Leslie led the discovery of the 8 Moz Blackwater deposit while at Richfield Ventures, and later served as VP exploration for Tower Resources. He was instrumental in advancing the JD-Theory project during its prior ownership.
Robert D. Willis – Senior Advisor
Founder of several successful exploration companies, including Pioneer Metals and Manhattan Minerals, Robert Willis has 35+ years of technical and executive experience across North and South America.
Terry Salman – Strategic Advisor
Founder of Salman Partners and one of Canada’s most influential mining financiers, Terry Salman has backed dozens of successful juniors over a 40-year career in mining investment banking.