High grade sniffs in Africa push Mako shares up 14%

Mako Gold Ltd (ASX: MKG) has seen its shares jump above 14 percent on news that it has discovered a high grade zone with grades of 76 grams per tonne at its 868,000-ounce Napié Project in Côte d’Ivoire.

Shares rose 14.28 percent to 16 cents on Wednesday, as the exploration company outlined discovery of a ‘Central Zone’ at the Tchago North prospect, where mapping and rock chip sampling had yielded results such as 76.10 grams per tonne, 24.34 grams per tonne, and 12.95 grams per tonne.

Most high-grade samples were taken from quartz veins which are connected to the east-west structural trends identified by Mako recently, but which are yet to be tested by drilling.

Artisan mining sites were also the source of these samples: with the one grading 76.10 grams per tonne being taken from a new artisanal mining site which also carried an in-situ quartz vein striking approximately east-west.

However, Mako was also excited to find a sample of andesite (volcanic rock) which yielded 2.96 grams per tonne, indicating that the host rock in this zone is also mineralised, and thus gold can be found outside of just the quartz veins.

Mako’s managing director, Peter Ledwidge said Mako was progressing further with testing the geology already delineated at Tchago North, but was also pleased with the new central Zone discovery.

“We are thrilled with the discovery of yet another high-grade zone on Tchaga North, with early indications from rock chips pointing towards this area being a new standout,” he said.

“Detailed geological mapping is continuing to yield excellent results, including this newly discovered zone which adds to the inventory of high-grade gold at the prospect.

“We are also very pleased to announce the commencement of the trenching program on the Central Zone as well as the Double Zone and Ladder Zone at Tchaga North. This is the natural progression leading up to a drill program targeting high-grade gold in the recently discovered east-west structures which have never been drilled.”

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