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    MKG   AU0000001869

MAKO GOLD LIMITED

(MKG)
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Mako Gold Limited Commences 45,000 Metre Drill Program

08/29/2021 | 06:38pm EST

The Board of Directors (BOD) of Mako Gold Limited have approved up to 45,000m of drilling on its projects in Côte d'lvoire. Napié will be the primary focus with up to 35,000m of reverse circulation (RC), diamond drilling (DD) and air core (AC) drilling. A maiden drilling program on the Korhogo Project has been approved by the BOD. 10,000m of AC drilling is planned to follow the completion of the detailed (100m X 50m) soil geochem program which can commence shortly after the end of the rainy season in October. The AC drill program will commence once the assay results of the detailed soil sampling program are received. Drilling is progressing well at the Gogbala Prospect on the first phase of the 10,000m drill program on the 2km-long high priority target outlined from previous drilling by Mako 2. Once drilling from the first phase of the 10,000m program is completed at Gogbala, drilling will return to the Tchaga Prospect. Recent drilling success at the southern part of the Tchaga Prospect 3 has provided the catalyst for the Company to include this drilling in its proposed Maiden Resource Estimate (MRE). Mako will continue to drill the southern extension of the Tchaga Prospect with the aim of extending the mineralised footprint further to the south. In addition, by extending the date of the MRE, there is also the potential to include some the drilling from the Gogbala Prospect in the MRE. Mako report that assay result turn-around times are now 3 to 4 weeks. Mako had incurred delays in assay results earlier this year and solved the problem by engaging a second assay lab. The quicker turnaround times will ensure a steady news-flow in the coming weeks.


© S&P Capital IQ 2021
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Financials
Sales 2021 - - -
Net income 2021 -1,49 M -1,06 M -1,06 M
Net cash 2021 4,56 M 3,23 M 3,23 M
P/E ratio 2021 -13,3x
Yield 2021 -
Capitalization 32,9 M 23,6 M 23,3 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float -
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Managers and Directors
Peter Ledwidge Managing Director & Director
Paul Marshall Chief Financial Officer & Secretary
Michele Muscillo Non-Executive Chairman
Steven Zaninovich Non-Executive Director
Ibrahim Bondo Country Manager-Burkina Faso
Sector and Competitors