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 224km2.
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 a total of 516 Reverse Circulation (RC) holes for 60,112m and 45 Diamond Core (DD) holes for 4878.5m. The majority of drilling is on the Tchaga and Gogbala Prospects with small drill programs completed at Tchaga East, Tchaga North and a few exploration holes elsewhere on the permit.
Drilling demonstrates consistent wide, high-grade, stacked lodes. Gold mineralisation is open laterally, along strike and at depth, with a large portion remaining untested. Mako is currently focussing on the more advanced Tchaga Prospect and the Gogbala Prospect to deliver a maiden Mineral Resource.
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 224km2.
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 a total of 516 Reverse Circulation (RC) holes for 60,112m and 45 Diamond Core (DD) holes for 4878.5m. The majority of drilling is on the Tchaga and Gogbala Prospects with small drill programs completed at Tchaga East, Tchaga North and a few exploration holes elsewhere on the permit.
Drilling demonstrates consistent wide, high-grade, stacked lodes. Gold mineralisation is open laterally, along strike and at depth, with a large portion remaining untested. Mako is currently focussing on the more advanced Tchaga Prospect and the Gogbala Prospect to deliver a maiden Mineral Resource.
Figure 1: Napié Project Location - Côte d’Ivoire
Tchaga Prospect
EXCEPTIONAL RESULTS CONTINUE AT TCHAGA PROSPECT
Results to date are highly encouraging with drilling intersecting multiple, continuous zones with significant widths and grades of gold mineralisation. Gold mineralisation is open laterally, along strike and at depth, with a large portion of the soil anomaly remaining untested. The Tchaga Prospect covers only a small portion of the 23km long main +40ppb soil/auger anomaly coincident with the 30km shear on the Napié Project.
Significant results have now been intersected over more than 2km of strike length at the Tchaga Prospect (Figure 2). Significant drill intersections include:
Preliminary metallurgical test work recovered 94% gold in both oxide and fresh rock.
Results to date are highly encouraging with drilling intersecting multiple, continuous zones with significant widths and grades of gold mineralisation. Gold mineralisation is open laterally, along strike and at depth, with a large portion of the soil anomaly remaining untested. The Tchaga Prospect covers only a small portion of the 23km long main +40ppb soil/auger anomaly coincident with the 30km shear on the Napié Project.
Significant results have now been intersected over more than 2km of strike length at the Tchaga Prospect (Figure 2). Significant drill intersections include:
- 25m at 3.43g/t Au from 53m in NARC017
- 17m at 2.43g/t Au from 86m in NARC055
- 28m at 4.86g/t Au from 83m in NARC057
- 7.7m at 11.65g/t Au from 169m in NARC058DD
- 18m at 3.25g/t Au from 39m in NARC080
- 23m at 2.46g/t Au from 15m in NARC084
- 30m at 1.16g/t Au from 117m in NARC101
- 36m at 3.09g/t Au from 43m in NARC107DD
- 14m at 5.46g/t Au from surface in NARC124
- 13m at 20.82g/t Au from 32m in NARC145
- 38m at 1.64g/t Au from 5m in NARC180
- 15m at 3.59g/t Au from 16m in NARC182
- 32m at 7.10g/t Au from 13m in NARC184
- 4m at 14.26g/t Au from 33m in NARC185
- 26m at 2.02g/t Au from 51m in NARC190
- 30m at 2.10g/t Au from 1m in NARC210
- 26m at 4.34g/t Au from surface in NARC214
- 41m at 4.51g/t Au from 17m in NARC216
- 5m at 21.99g/t Au from 70m in NARC243
- 13.8m at 4.91g/t Au from 118m in NARC307DD
- 9m at 6.63g/t Au from 16m in NARC379
- 17m at 3.06g/t Au from 129m in NARC404DD
- 9.85m at 6.63g/t Au from 213.15m in NARC419DD
- 10m at 18.98g/t Au from 7m including 1m at 174.60g/t Au from 14m in NARC486
Preliminary metallurgical test work recovered 94% gold in both oxide and fresh rock.
Figure 2: Tchaga Prospect - Drill intercepts with +40ppb soil anomaly showing 2km strike length
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). Gold mineralisation is observed as structurally controlled "pinch and swell" stacked lodes and is 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 2).
Mineralisation is proximal to faults which act as the “plumbing” for gold bearing fluids, as shown on sections A-B (Figure 3). Gold mineralisation is observed as structurally controlled "pinch and swell" stacked lodes and is 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 2).
Figure 3: Tchaga Prospect - Cross section A-B
Gogbala Prospect
GOLD MINERALISATION OVER 2KM IN WIDE SPACED DRILLING
The Gogbala Prospect is 6km south of the Tchaga Prospect along the same 23km long +40ppb soil anomaly coincident with the +30km long shear zone. There are many similarities in structurally controlled gold deposition between Gogbala and Tchaga. The "pinch and swell" characteristic of mineralisation observed at Tchaga is also present at Gogbala, which lends itself well to follow-up drilling along strike and down dip,
115 wide-spaced Reverse Circulation (RC) holes for 12,410m have been drilled on the Gogbala Prospect. A 2km-long high-priority target, which is approximately the same size at the Tchaga Prospect has consistently delivered wide and high-grade results (Figure 4).
Significant drill intersections for Gogbala include:
Gold mineralisation remains open in all directions.
The Gogbala Prospect is 6km south of the Tchaga Prospect along the same 23km long +40ppb soil anomaly coincident with the +30km long shear zone. There are many similarities in structurally controlled gold deposition between Gogbala and Tchaga. The "pinch and swell" characteristic of mineralisation observed at Tchaga is also present at Gogbala, which lends itself well to follow-up drilling along strike and down dip,
115 wide-spaced Reverse Circulation (RC) holes for 12,410m have been drilled on the Gogbala Prospect. A 2km-long high-priority target, which is approximately the same size at the Tchaga Prospect has consistently delivered wide and high-grade results (Figure 4).
Significant drill intersections for Gogbala include:
- 17m at 1.68g/t Au from 45m in NARC027
- 6m at 2.67g/t Au from 42m in NARC034
- 12m at 5.39g/t Au from 11m in NARC035
- 7m at 2.73g/t Au from 77m in NARC065
- 2m at 16.81g/t Au from 2m and 5m at 2.12g/t Au from 19m in NARC066
- 6m at 2.00g/t Au from 87m in NARC312
- 3m at 6.4g/t Au from 58m in NARC313
- 6m at 4.97g/t Au from 68m in NARC317
- 8m at 2.87g/t Au from 49m in NARC524
- 7m at 6.70g/t Au from 6m in NARC518
Gold mineralisation remains open in all directions.
Figure 4: Gogbala Prospect - Drill Intercepts with soil anomalies on IP geophysics
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 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 5). 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 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 5). 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 5: Napié Project - Prospects adjacent to +30km-long shear and coincident gold soil anomaly