Napie Project
NAPIE IS LOCATED IN AN UNDEREXPLORED GREENSTONE BELT
Mako Gold's flagship Napié Project is located in the north central part of Côte d’Ivoire (Figure 1). It is 30km southeast of the city of Korhogo and it is easily accessed by a good road system. The Napié Project covers a strike length of 30km over a highly prospective land package of 225km2.
OWNERSHIP
Mako Gold entered into a farm-in and joint venture agreement on the Napié Permit with Occidental Gold SARL, a subsidiary of West African gold miner Perseus Mining Limited (ASX/TSX:PRU). Mako currently own a 51% interest in Napié and has the ability to earn up to 75% interest through the delivery of a Feasibility Study[1].
Mako has recently entered into a binding agreement with Perseus Mining (ASX:PRU) to consolidate ownership from 51% to 90%[2].
1 For details of the agreement please refer to Section 9.1 of Mako Gold’s Prospectus and section 4.6 of Mako Gold’s Supplementary Prospectus, lodged on the ASX on 13 April 2018.
2 Refer to ASX release dated 29 June 2021
WORK TO DATE ON THE NAPIE PERMIT
Mako Gold completed a maiden drilling program on 17 July 2018 and to date has completed over 500 Reverse Circulation (RC) and Diamond Core (DD), Drilling is ongoing with extensional and infill programs to increase the mineralised footprint.
Drilling demonstrates consistent high grade, shallow gold mineralisation. Many targets remain undrilled. Mako is currently focussing on high priority targets on the more advanced Tchaga Prospect to deliver a maiden Mineral Resource.
Figure 1: Napié Project Location - Côte d’Ivoire
Tchaga Prospect
EXCEPTIONAL RESULTS CONTINUE AT TCHAGA PROSPECT
Drilling to date has intersected multiple, broad, high-grade zones of gold mineralisation in shallow drilling (generally less than 100m from surface). The main mineralised envelope widens at depth and includes high-grade zones.
Significant results have now been intersected over more than 1.4km of strike length at the Tchaga Prospect (Figure 2).
Wide gold intercepts include:
Results to date increase Mako's confidence in the potential for the Napié Project to host large high-grade gold deposits.
Preliminary metallurgical test work recovered 94% gold in both oxide and fresh rock.
Drilling to date has intersected multiple, broad, high-grade zones of gold mineralisation in shallow drilling (generally less than 100m from surface). The main mineralised envelope widens at depth and includes high-grade zones.
Significant results have now been intersected over more than 1.4km of strike length at the Tchaga Prospect (Figure 2).
Wide gold intercepts include:
- 13m at 20.82 g/t Au from 32m in NARC145
- 14m at 5.46 g/t Au from surface in NARC124; including 5m at 11.28 g/t Au from surface
- 7.7m at 11.65 g/t Au from 169m in NARC058DD; including 3.55m at 23.06 g/t Au from 171.7m
- 36m at 3.09 g/t Au from 43m in NARC107; including 2m at 12.69 g/t Au from 49m and 8m at 6.49 g/t Au from 58m
- 28m at 4.86 g/t Au from 83m in NARC057
- 25m at 3.43 g/t Au from 53m in NARC017
- 18m at 3.25 g/t Au from 39m in NARC080
- 23m at 2.46 g/t Au from 15m in NARC084
Results to date increase Mako's confidence in the potential for the Napié Project to host large high-grade gold deposits.
Preliminary metallurgical test work recovered 94% gold in both oxide and fresh rock.
Figure 2: Tchaga Prospect - Drill intercepts. Insert map shows soil anomalies over airborne RTP magnetics
CONTROLS ON GOLD MINERALISATION
Mineralisation is proximal to faults which act as the “plumbing” for gold bearing fluids, as shown on sections A-B (Figure 3) and C-D (Figure 4). Gold mineralisation is hosted in quartz veins and silica-albite-sericite-pyrite altered wallrock.
Mineralisation observed to date is structurally controlled and not restricted to a single lithology.
Significant drill intersections encountered to date are spatially related to gold soil anomalies coincident with an interpreted +30km-long shear and secondary faults (Figure 6).
Mineralisation is proximal to faults which act as the “plumbing” for gold bearing fluids, as shown on sections A-B (Figure 3) and C-D (Figure 4). Gold mineralisation is hosted in quartz veins and silica-albite-sericite-pyrite altered wallrock.
Mineralisation observed to date is structurally controlled and not restricted to a single lithology.
Significant drill intersections encountered to date are spatially related to gold soil anomalies coincident with an interpreted +30km-long shear and secondary faults (Figure 6).
Figure 3: Tchaga Prospect - Cross section A-B
Figure 4: Tchaga Prospect - Cross section C-D
Gogbala Prospect
GOLD MINERALISATION OVER 2KM IN WIDE SPACED DRILLING
The Gogbala Prospect is 6km south of the Tchaga Prospect along the same mineralised structure. Limited RC drilling within the Gogbala Prospect (Figure 5) intersected significant widths and grades of gold mineralisation with individual assays up to 29.89g/t Au (NARC066), and separately, widths up to 17m.
Significant drill intersections include:
Gold mineralisation is outlined at > 2km along strike in wide-spaced drilling.
Mineralisation remains open in all directions. The 5km soil anomaly and coincident structures provide further drill targets.
The Gogbala Prospect is 6km south of the Tchaga Prospect along the same mineralised structure. Limited RC drilling within the Gogbala Prospect (Figure 5) intersected significant widths and grades of gold mineralisation with individual assays up to 29.89g/t Au (NARC066), and separately, widths up to 17m.
Significant drill intersections include:
- 12m at 5.39g/t Au from 11m, including 5m at 10.74g/t Au in NARC035
- 7m at 2.73g/t Au from 77m in NARC065
Gold mineralisation is outlined at > 2km along strike in wide-spaced drilling.
Mineralisation remains open in all directions. The 5km soil anomaly and coincident structures provide further drill targets.
Figure 5: Gogbala Prospect - Drill Intercepts. Insert map shows soil anomalies over airborne RTP magnetics
Blue Sky at Napie
POSSIBILITY OF MULTI-MILLION OUNCE GOLD DEPOSITS
It appears that gold mineralisation intersected at the Tchaga Prospect and the Gogbala Prospect, are part of the same system and both lie along the recently interpreted +30km-long shear zone.
The areas drilled to date area cover only a very small part of the main 23km long +40ppb soil/auger anomaly and coincident +30 km-long shear (Figure 6). Gold mineralisation is open laterally, along strike and at depth.
Furthermore, multiple gold trends, exhibiting similar characteristics and trends sub-parallel to the main trend, provide other targets for future drilling.
It appears that gold mineralisation intersected at the Tchaga Prospect and the Gogbala Prospect, are part of the same system and both lie along the recently interpreted +30km-long shear zone.
The areas drilled to date area cover only a very small part of the main 23km long +40ppb soil/auger anomaly and coincident +30 km-long shear (Figure 6). Gold mineralisation is open laterally, along strike and at depth.
Furthermore, multiple gold trends, exhibiting similar characteristics and trends sub-parallel to the main trend, provide other targets for future drilling.
Figure 6: Napié Project - Wide-spaced drilling along +30km-long shear and coincident gold soil anomaly