Mako strives towards resource definition at Tchaga
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Mako Gold Limited (ASX:MKG) reports it has received excellent preliminary metallurgical results from the Tchaga Prospect on the Napié Project in Cote d’Ivoire.
Preliminary test work was carried out on 17 samples of primary and oxide mineralisation from the Tchaga Prospect, where Mako is accelerating exploration.
Samples were selected from five Reverse Circulation (RC) holes across the prospect area and from a variety of lithologies in order to test a representative suite of gold mineralised intervals.
Gold recoveries averaged 94.7% for primary mineralisation and 94.3% for oxide mineralisation.
As indicated below, results from recent direct cyanidation bottle rolls are extremely encouraging and indicate that both oxide and primary gold mineralisation at the Tchaga Prospect are amenable to conventional cyanide extraction methods.
Progressing towards JORC resource at Tchaga
Mako plans a follow-up RC drill program on the Tchaga Prospect after the wet season, which usually ends in November in Côte d’Ivoire, with the near-term goal of advancing it towards a JORC compliant resource.
Management believes that the Tchaga Prospect has the greatest potential for delivering on this, which is why at this time the preliminary metallurgical work was completed only on the Tchaga Prospect.
In explaining the prioritisation of the Tchaga prospect, managing director Peter Ledwidge said, “Many investors had asked about metallurgical testing after we announced the positive drill intersections on our Napié Project.
‘’As a result, Mako commissioned preliminary metallurgical test work.
‘’We are very pleased with the results of the test work, which returned average recoveries of greater than 94% in both oxide and primary mineralisation.
‘’This reinforces the strategy of advancing the Tchaga Prospect quickly.
‘’These preliminary positive results de-risk the project one step further and increase confidence in the Napié Project.
‘’We plan to be drilling again on the Tchaga Prospect shortly after the end of the wet season and look forward to providing updates.”
Exploration to date provides insightful trend lines
Management’s objective in completing the upcoming drill program is to add continuity to mineralisation by drilling along strike and below previously reported wide gold intersections, thereby adding confidence to its current modelling of mineralisation at the Tchaga Prospect.
Drilling to date on the prospect has identified a strike extent of gold mineralisation of approximately one kilometre with multiple broad and high-grade zones of gold mineralisation intersected in shallow drilling as indicated below.
As the following map shows, there is consistency in terms of the clustering of wide high-grade drill holes, and with mineralisation open to the north, south and west there appears to be a strong likelihood of further exploration success.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
