Mako Gold (MKG.AX) is working hard to further increase its ownership in the 224 square kilometer Napie gold project. Mako has already established a 51% stake and its earn-in agreement with Perseus Mining (PRU.AX) allows the company to add an additional 24% stake in the project. While there’s no resource estimate on the Napie project just yet, Mako Gold has been quite successful in actually finding the yellow metal.
The Tchaga prospect on the Napie project continues to deliver higher grade gold intervals: in a May exploration update, Mako Gold encountered 9 meters containing 6.26 g/t gold from just 16 meters down-hole while another hole encountered 11 meters of 3.28 g/t gold from just 8 meters down hole. And just one week later, additional assay results from the diamond and RC drill program confirmed even more higher grade results, although the mineralization was encountered a little bit deeper. This should help to confirm the gold mineralization at depth and that will be helpful to actually build tonnage.
This near-surface and high-grade gold levels could be a major boost to develop a mineable resource at Napie, and the drill programs have now extended the strike length of the Tchaga prospect to 1.8 kilometers. Every hole seems to be adding value to the project and Mako Gold remains determined to publish a maiden resource estimate later this year.
Disclosure: The author has no position in Mako Gold. Please read our disclaimer.
