- The Chakata Gold Project comprises a 62km2 exploration licence
- Located just 5km south along strike from the Lega Dembi and Sakaro mines (+3Moz Au mined), covering the same north-south trending thrust fault that hosts these significant deposits
- Geophysics identifies the same major structure that is host to Lega Dembi/Sakaro runs through Chakata with 9km of strike length
- Visible gold identified in trenching and rock chip samples
- Multiple teams on site executing strategic exploration plan across priority targets
- Strong community support for Chakata project
- Maiden drilling program at the Chakata Gold Project has been doubled to 12 drillholes for 3,000m
- CT Prospect:
- 7 diamond drillholes for a total of 1,208m [ASSAYS PENDING]
- Visual mineralisation intersected, including copper (chalcopyrite, bornite, azurite) and quartz-tourmaline veining
- First results expected in June 2021
- GT Prospect:
- 6 diamond drillholes for a total of 1,200m [IN PROGRESS]
- Historical trench sampling at the GT Prospect returned: 47m @ 1.55g/t Au, including 25m @ 2.57g/t Au (Trench TR-1)
- Limited historical drilling elsewhere within the Chakata Gold Project area returned highly significant results including: 2m @ 11.15g/t Au from 48.25m (WCDH01); and 0.6m @ 6.47g/t Au from 190.8m (DDH5)
- Dragon Prospect:
- 2,400m trenching program at newly identified Dragon Target
- Visible gold identified in first trench, CKTR003
Fig 1 – Megado highly active at the Chakata Gold Project : initial drill program on the southern portion of the Chakata tenement; trenching in the west of the tenement; and, active fieldwork identifying new areas in the north and west of the tenement
Fig 2 – Megado current drilling activities focused in SE corner Megado’s current drilling activities focused in the south-east corner, at the Contact and GT Targets
Historic Data Compilation
Three previous owners conducted sporadic work from 1980’s to early 2000’s. The last owner of the tenure was MIDROC, which at the time was operating the Lega Dembi mine and drilling out Sakaro deposit.
Geophysics identifies the same major structure that is host to Lega Dembi/Sakaro runs through Chakata with 9km of strike length.
Significant surface geochemical sampling (rock, soil), geophysics, trenching in the southern part of Chakata, although limited drilling.
Three high priority targets at Chakata were identified by MIDROC which have same signature as Sakaro (image right) – overlaps spectral target.
“Granodiorite Target” has a trench results of:
- 25m @ 2.57g/t Au (within 47m @ 1.55g/t Au)
Importantly, this trenching is coincident with Megado’s spectral target AND the shear zone that hosts Sakaro, on a similar local flexure.
Drilling beneath this trench was planned, but never conducted. The main shear zone that hosts Sakaro and mineralised trenches remain untested by drilling.
Limited historic drilling elsewhere within the tenement (north, and west) includes intercepts of: 2m @ 11.15g/t Au; and 0.6m @ 6.47g/t Au.
Final compilation of historical works is underway and pending.