viewMako Gold Ltd

Mako Gold lodges two gold exploration permits in Cote d’lvoire

The permit applications are situated along a regional fault and in the same greenstone belt which hosts Barrick Gold’s 4.9 million-ounce Tongon Gold Mine.

Mako Gold Ltd - Mako Gold lodges two gold exploration permits in Cote d’lvoire
The permit applications potentially increase Mako’s ground position to 520 square kilometres

Mako Gold Ltd (ASX:MKG) has lodged two exploration permit applications covering a total area of 296 square kilometres with the Cote d’Ivoire Ministry of Mines.

The permit applications were strategically selected by the company to cover ‘significant’ greenstone-granite contact which present excellent targets for shear-hosted orogenic gold deposits.

The northern application has a greenstone-granite contact of 9 kilometres, while the southern application has one of 6 kilometres.

Both permits are also on a regional fault which provides the ‘plumbing’ for gold bearing fluids.

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Mako Gold managing director Peter Ledgewide said the company was pleased to be potentially increasing its footprint in Cote d’Ivoire by applying for quality permits in an area it views as a favourable geological environment for gold deposition.

He said: “We look forward advising our shareholders on the granting of the permits and announcing our work programs shortly thereafter.”

In shear-hosted high-grade gold deposits, gold is often remobilised from greenstones and over time deposited in the granites which are brittle and have a good network of open spaces.

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The northern and southern permit applications are located 15 kilometres and 30 kilometres respectively from Barrick’s Tongon mine and processing plant, with both permits hosting good road access.

Mako will begin exploration shortly after the granting of the permits.

Quick facts: Mako Gold Ltd

Price: 0.15 AUD

Market: ASX
Market Cap: $16.95 m

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