Mako bolsters West African experience on board

ASX-listed Cote d’Ivoire gold hopeful, Mako Gold, has refined its board of directors with specific West African experience as the company looks to accelerate exploration work at its flagship Napie gold project towards a maiden resource estimate in the March 2021 quarter.

Perth-based Mako currently holds a 51 per cent interest in the Napie project, which is located in the very fertile Birimian greenstone belts that play host to more than 70 gold deposits weighing in at more than one million ounces apiece and is near to Barrick Gold’s operating 4.9-million-ounce Tongon gold mine.

Mako can increase its stake in Napie to 75 per cent by taking the project through to the completion of a feasibility study. Its joint venture partner is ASX and TSX-listed, West African gold producer Perseus Mining.

Non-Executive Director of Brisbane-based Mako since 2017, Michele Muscillo has now stepped up to the role of the company’s Non-Executive Chairman.

He is also a Non-Executive Director of Cardinal, who owns the 5Moz Namdini gold project in Ghana and is the subject of a takeover battle between Russia’s Nordgold and China’s Shandong Gold Mining Co. The competing bids value Perth-based Cardinal at more than $500 million.

Muscillo, a partner at law firm HopgoodGanim, is also a Non-Executive Director of ASX-listed copper-gold explorer Xanadu Mines and ASX-listed copper-gold producer Aeris Resources.

He replaces Dr Mark Elliott, co-founder of Mako, who has decided to retire.

Mako Gold Managing Director, Peter Ledwidge said: “As a corporate lawyer, Michele brings to the board important skill sets around capital markets, M&A and governance. In particular, Michele was instrumental in the successful Orbis Gold takeover by SEMAFO (in 2015) and is currently engaged in the two-way takeover contest for Cardinal Resources.”

In addition, mining executive and engineer Steven Zaninovich has joined Mako as a Non-Executive Director.

Zaninovich, who has more than 25 years experience in mining project development and management across a variety of commodities and jurisdictions, has held numerous Executive and Non-Executive Director positions with several public and private companies.

He has extensive in-country experience in West Africa including Burkina Faso, Mali, Cote d’Ivoire and Ghana.

Zaninovich was previously Chief Operating Officer at ASX-listed Gryphon Minerals prior to its takeover by TSX-listed Teranga Gold four years ago. He stayed on at Teranga as Vice-President of Major Projects to complete the bankable feasibility study on the recently commissioned 1.55Moz Wahgnion gold project – formerly the Banfora project – in Burkina Faso.

He continues to be a Non-Executive Director of TSX-V-listed West African-focused gold explorer Sarama Resources, ASX-listed Cameroon bauxite developer Canyon Resources, ASX-listed WA gold and base metals explorer Maximus Resources and ASX-listed Gawler Craton gold hopeful Indiana Resources.

Mako Gold Managing Director, Peter Ledwidge said: “Steve’s technical expertise as an engineer will help steer Mako following the planned Q1-2021 maiden resource. In addition, his extensive corporate experience and business contacts will bolster the company as it moves forward.”

The company is planning to resume its RC and diamond drilling campaign at Napie sometime this month once the equatorial wet season dissipates.

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