ASX-listed Mako Gold has lodged two applications for exploration permits with the Ministry of Mines in Côte d’Ivoire covering a total area of 296 km2.
Côte d’Ivoire – The permit applications were strategically selected by Mako Gold to cover significant greenstone-granite contact as these contacts present excellent targets for shear-hosted orogenic gold deposits.
The northern permit application has a greenstone-granite contact of 9 km, while the southern application has a greenstone-granite contact of 6 km.
In addition both permits are located on a regional fault – which 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 precipitation of gold within the granites.
Because of the above, Mako Gold believes that the strategic location of the permit applications present excellent targets for high-grade orogenic shear-hosted gold deposits.
The northern and southern permit applications are respectively located 15 km and 30 km from Barrick’s Tongon mine processing plant. Both permits have good road access.
Permit applications have recently been granted within three to six months of applying and give the title holder 100% ownership of the permit. While it is not guaranteed that the permits will be granted, Mako has no reason to believe that the Côte d’Ivoire Ministry of Mines would not approve the applications and grant the permits.
If granted, the permits will more than double Mako’s footprint in Côte d’Ivoire to 520 km2.
To Mako’s knowledge, no previous work has been completed on these permits and the company plans to commence exploration shortly after the granting of the permits.
“We are pleased to potentially be increasing our footprint in Côte d’Ivoire by applying for quality permits in an area that we view as a favourable geological environment for gold deposition,” says Mako Gold MD Peter Ledwidge.