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AFRIcA FocUs

Mako zooms in on next drill target

or “hardcore” exploration geologists ing this programme will put the company you’ve really got to focus on those mile-
FPeter and Ann Ledwidge, it has be- on the verge of a maiden resource esti- stones and that next milestone is to get a
come customary over the years to be on mate for the emerging Tchaga prospect. maiden resource on Napie.
site for the start of every new exploration It is the first time Mako has been seri- “It was a little bit heartbreaking parting
programme. ously active on the ground at Napie since with that project, but that [sales] money
This year, however, the global COV- pausing all work in February due to the can now be applied to our Napie project.
ID-19 pandemic and associated travel coronavirus outbreak. In light of that unex- It’s a good deal for us and for them as
bans have meant Mako Gold Ltd’s manag- pected hiatus, the company is planning to the project is within 50km of one of their
ing director and head of exploration were keep drilling all the way up until Christmas. mines.”
unable to make it to Cote d’Ivoire in late “We’ll stop for a short while during the While the sale of Niou was relatively
June to watch the first hole being drilled peak of the wet season, but we’re going small fish compared to some other recent
into the Tchaga prospect at the company’s to push it as much as we can,” Ledwidge transactions, M&A is certainly heating up
flagship Napie project. said. in West Africa.
Nevertheless, the Ledwidges have “We’ve had five drill programmes since Already this year Endeavour Mining
settled on “remote-controlling” the pro- listing [in April 2018] and every one of them Corp has acquired fellow gold producer
gramme from their home base in Bris- has delivered very nice results, so we don’t Semafo Inc, Perseus Mining Ltd has made
bane and backed in their experienced see why the drilling between now and the a move on ASX-listed junior explorer Ex-
on-ground crew to deliver the exploration end of the year should be any different. ore Resources Ltd and Cardinal Resourc-
goods. We’re very excited about what we’re do- es Ltd is subject to bids from Shandong
“Ideally we’d like to be on the ground a ing.” Gold Mining and Nordgold.
little bit more, but it’s really not slowing us Despite the lack of activity on the ground “I think the investment community has
down,” Peter Ledwidge told Paydirt. in the first half, Mako was kept busy on the realised how important Africa is, and spe-
“We do have such an experienced crew, corporate front with the sale of its non-core cifically West Africa,” Ledwidge said. “If
they were with us when we were with Or- Niou project in Burkina Faso to Nordgold you think about it, the whole Birimian area
bis Gold and we’ve known them for the SE, as well as an oversubscribed capital has got 70 plus-1 moz gold deposits and
better part of 10 years, so they know our raising of $3.25 million. over 40 of those are greater than 3 moz,
system of doing things and they’re very Under the terms of the sales agree- so it’s elephant country and they’re on sur-
professional. ment with Nordgold, Mako will receive face for the most part, they’re not digging
“Ann usually likes to go and spend $US700,000 (about $1.1 million) cash and underneath old headframes.”
a considerable amount of time on the retain a 1% NSR if the new owner discov- As part of the current exploration effort
ground and usually when I go to Cote ers a resource of at least 2 moz and ad- over the 224sq km Napie project, Mako
d’Ivoire I spend a lot of my time in the city vances the project to production. will undertake follow-up drilling on a series
doing deals and meeting with the Govern- Nordgold has the right to repurchase the of targets which have received little or no
ment and things like that. Then I go up [to NSR for $US4.5 million (about $6.8 mil- exploration attention since mid-2018. First
site] for a week which to me is almost like lion) at any time. assay results were expected at the time of
a holiday where I get to walk around with a “For us as a small junior company, you print.
rock pick and crack rocks open. only have so much money to go around,” Mako was also awaiting confirmation
“I am a hardcore exploration geologist at Ledwidge said. from the Ivorian Government on whether
heart, so yes, it is a little bit frustrating, but “As tempting as it is to advance other its application for two new exploration li-
we can still advance the projects nicely.” projects – and we only had 12 drill holes cences had been successful.
Drilling has been under way since the in that property and we did all the lead – Michael Washbourne
last week of June with the Mako team hop- up work to the drilling – as a small junior

Mako’s in-country team observing social distancing prior to
the restart of drilling at the Napie gold project, Cote d’Ivoire
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