Drilling programme begins at Napié Project in Côte d’Ivoire

Drilling programme has been initiated at the Tchaga North area of Napié Project in Côte d’Ivoire. Mako Gold launched the programme targeting three primary locations: The Double Zone, The Deep Artisanal Mining Zone, and the Discovery Zone. These areas will be drilled to test new east-west targets that have not been previously explored.

Peter Ledwidge, Managing Director of Mako Gold, expressed optimism about the drill testing, emphasizing its potential to uncover additional significant gold mineralized zones. These zones could contribute to increasing the current 868,000-ounce gold resource on the Napié Permit.

Drill-for-equity agreement

He highlighted the benefits of their drill-for-equity agreement with Geodrill, which helps preserve cash while achieving the goal of testing high-priority targets identified through recent fieldwork. Ledwidge praised Geodrill’s quality of work and their strong ESG initiatives in the communities they operate in.

Geodrill’s CEO, Dave Harper, commented on their partnership, noting their long and successful history with Mako Gold, including past discoveries that have become major producing mines. He explained that the drill-for-equity agreement allows Mako Gold to drill double the meterage for the same cash expenditure, thereby increasing the likelihood of success. This arrangement also provides Mako Gold with the flexibility to revert to cash payment if needed, and Harper expressed enthusiasm about increasing Geodrill’s shareholding in Mako Gold.

“We have a long-standing relationship with Geodrill and have always been impressed with the quality of their work, including their extraordinary ESG initiatives in the communities where they operate. Geodrill has been on the MKG share register for some time, and we welcome their further investment in the Company,” said Dave Harper.