Mako Gold (MKG.AX) has started an auger drill program on the Korhogo project in Ivory Coast which will consist of approximately 7,000 meters of drilling. The results of the auger drill program will subsequently be used to design a 10,000 meter air core drill program on the license, which is literally bordering Montage Gold’s (MAU.V) Korokaha project and within walking distance from the Tongon mine owned and operated by Barrick Gold (GOLD, ABX.TO). Tongon produced in excess of 200,000 ounces of gold in 2021 at an AISC of 1,208/oz which is worse than the 284,000 ounces of gold at an AISC of less than $800/oz in 2020.
Mako’s flagship project still is the Napié gold project where it is increasing its stake to 90%. A maiden resource estimate will be released in the second quarter of this year as the results of an ongoing 40,000 meter drill program are still coming in. Unfortunately a substantial portion of the drill program consists of aircore drilling but about 25,000 meters of RC and Diamond drilling will be completed on the Gogbala, Tchaga and Tchaga North prospects at Napié. The Tchaga and Gogbala prospects have seen in excess of 60,000 meters of drilling so it will be interesting to see what the maiden resource will come in at.
Especially the Tchaga zone appears to be interesting as the drill intensity appears to be quite good in the southern section of the project. And with assay results as shown in the image above it should be pretty easy to build tonnage and ounces.
Disclosure: The author has no position in Mako Gold. Please read our disclaimer.
