Mako Gold Share Price up on Best Widest Gold to Date (ASX:MKG)

Mako Gold Share Price up on Best Widest Gold to Date (ASX:MKG)

Shares in West African gold explorer Mako Gold Ltd [ASX:MKG] are up today upon discovery of the widest, high-grade gold intercepts at MKG’s flagship Napié Project located in the Ivory Coast.

There has been little change in the MKG share price since we last covered the gold explorer when they released some seriously high-grade results from the Napié Project.

ASX MKG Share price chart

Source: Tradingview

The MKG share price tanked in mid-December 2020 after announcing further shallow gold mineralisation at the Tchaga Prospect at Napié, despite the strengthening gold price.

At time of writing the MKG share price is up 2 cents or 19.05% to trade at 12.5 cents per share.

Tchaga delivers widest, high-grade gold intercepts

More solid results from the Tchaga Prospect were announced by MKG today.

The explorer has received 53 assays from its ongoing drill program at the prospect, with 46 holes intersecting gold mineralisation including 17 holes returning intercepts exceeding 10 grams of gold per tonne (g/t).

Highlights from their most recent results include:

  • 41m at 4.51 g/t from 17m, including 3m at 8.16g/t from 17m
  • 5m at 21.99g/t from 70m, including 1m at 107g/t from 71m
  • 21m at 2.26g/t from 71m, including 1m at 16.85g/t from 72m
  • 15m at 2.02g/t from 105m

REVEALED: What’s Next for Aussie Gold Stock Prices? Learn more.

Mako Gold Tchaga Gold Prospect Cross Section

Source: Mako Gold

MKG’s Managing Director Peter Ledwidge commented:

These drill results confirm continuity of mineralisation along strike and at depth as we move towards a maiden resource.

We have outlined multiple areas within Tchaga that host high-grade cores within broader mineralised envelopes which validates our exploration strategy of targeting broad zones of gold mineralisation and then vectoring in on the high-grade zones.

Activity ramps up for Mako

Things are ramping up at the Napié Project with a new 1,500-metre drilling program at the Tchaga East Prospect currently underway.

Located approximately two kilometres east of the Tchaga prospect, Tchaga East has not been drilled since Mako’s maiden drilling program in 2018.

MKG has a second drill rig to arrive on site imminently to expedite the program.

Only three holes have drilled on Tchaga East by MKG, two of which had drill intersects greater than 5 g/t.

Moreover, I suggest keeping an eye out for deeper drilling results considering drilling to date has generally been shallow (within 100 metres vertical depth from surface).

ASX MKG Shares - Drilling Results

Source: Mako Gold

MKG has planned a deeper drill hole to test for deeper high-grade mineralisation, as seen in the figure above.

But have not given a time when we can expect those results.

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Kind regards,

Lachlann Tierney

For The Daily Reckoning Australia