Mako Gold Ltd (ASX:MKG) has continued to make progress on the 90%-owned flagship Napié Gold Project in Côte d’Ivoire with geological mapping and rock chip sampling ongoing throughout December and January at Tchaga North.
In addition, the company has progressed its due diligence on the proposed accretive Goldridge transaction to create a district-scale gold play and consolidate holdings near Napié.
The Goldridge Konan permit is just north of the Napié permits and, if acquired, would increase Mako’s holdings in the highly prospective area, which already hosts 868,000 ounces of inferred gold resource, to 372 square kilometres.
Resurgence in gold exploration
Mako managing director Peter Ledwidge said: “We are pleased to be starting 2024 with a focus on our flagship Napié Gold Project with low-cost exploration so that we can be ready to capitalise on an impending resurgence in the interest in gold exploration.
“Our field crews have been hard at work throughout December and into January and are continuing to map and rock chip sample our new high-grade gold targets focusing on the western greenstone granite contact at Tchaga North and on the new structural trends.
“We have also been progressing our due diligence on the proposed accretive transaction with Goldridge and expect to be able to recommence negotiations with Goldridge shortly”.
A deep artisanal mining site at Tchaga North on the western contact of greenstone and granite.
Targeting high-grade gold
At Napié, the program is focusing primarily on the western greenstone/granite contact targeting high-grade gold where recent drilling returned values up to 45 g/t.
Mapping has discovered a new structural trend with quartz veining which has yet to be tested by drilling.
Consequently, this low-cost work will generate new high-grade targets for drill testing.
Detailed mapping area at Tchaga North shown in black rectangle with previous drill results.
Proposed Goldridge transaction
Mako management has been progressing the due diligence for the previously announced potential acquisition of Goldridge.
Management has been evaluating the data provided by Goldridge in order to fully evaluate the potential of the project and to resume negotiations with Goldridge in the hopes of finalising the transaction.
Due diligence to date indicates that the Goldridge acquisition has the potential for the discovery of significant gold deposits, which would complement Mako’s Napié Project as the company strives to grow the gold resource.
The Goldridge permit would increase the strike length along the prospective Napié fault to 50 kilometres, thereby creating a district-scale gold camp for Mako.
The potential acquisition of Goldridge would consolidate Mako’s holdings to a district camp scale of 50 kilometres of prospective strike length.
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