ASX-listed Mako Gold has received the decree from the Ministry of Mines in Côte d’lvoire for the Ouangolodougou Permit.
As per regulations set out in the 2014 Côte d’Ivoire Mining Code, the Ouangolodougou permit is valid for four years from the date of granting and can be renewed twice for a period of three years each.
Ouangolodougou along with the Korhogo Nord permit now constitute the Korhogo project, which collectively covers 296 km2 over 17 km of faulted greenstone granite contact. Both permits are 100% owned by Mako.
Korhogo is located in the same greenstone belt that hosts Barrick Gold’s 4.9 Moz Tongon gold mine and Montage Gold’s 1.2 Moz Kone gold deposit, both in Côte d’Ivoire, as well as Teranga Gold’s 2.7 Moz Wahgnion gold mine across the border in Burkina Faso. The proximity to Barrick’s Tongon processing and mine infrastructure (within 15-30 km) has the potential to create accretive development and processing synergies should Mako be successful in discovering a gold deposit on the Korhogo project.
Ouangolodougou (as well as Korhogo Nord) were strategically selected by Mako as they cover significant greenstone-granite contact along a regional fault. Regional faults provide the “plumbing” for gold bearing fluids. 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 (faults). In addition, at the interface of the greenstones and granites, the geochemistry changes, which typically causes the precipitation of gold within the granites.
Because of the above, the Mako believes that the strategic location of the permits present excellent targets for high-grade orogenic shear-hosted gold deposits.
Ouangolodougou has 10 km of faulted greenstone/granite contact, while Korhogo Nord has 7 km of contact. The company is planning a methodical exploration programme on the Korhogo project which will commence shortly with a soil sampling programme. A maiden drilling programme is planned at Korhogo once the soil sampling results are received.
“We are pleased to have secured a further 111 km2 of prospective tenure in Côte d’Ivoire, within the same Birimian greenstone belt as Barrick’s 4.9 Moz Tongon gold mine,” says Mako Gold MD Peter Ledwidge
“To our knowledge, no previous exploration has been conducted on the Ouangolodougou permit, so we are excited to be launching a maiden exploration programme on the permit shortly. Our primary focus remains the Napié project, also on Côte d’Ivoire, where we currently have two drills operating around the clock,” he concludes.