Visible gold at the Chakata gold

2020-11-18T14:08:15+00:00 November 17th, 2020|News|

Ethiopian-focused gold explorer Megado Gold has uncovered outcropping quartz veins with visible gold ahead of its maiden drill programme at the Chakata gold project in Ethiopia.

Megado gold is building a small river crossing in Ethiopia. Image credit: Megado Gold

Megado gold is building a small river crossing in Ethiopia. Image credit: Megado Gold

Chakata is located in the Adola Gold Belt in southern Ethiopia, only five kilometres south along strike from the country’s largest producing gold mines, Lega Dembi and Sakaro. The structure that hosts the Lega Dembi/Sakaro trend, extends to the south through Chakata for over 9km and is readily identifiable in geophysical imagery.

Megado geologists’ fieldwork has continued to confirm strong evidence of artisanal workings and indications of significant occurrences of primary hard rock gold.

According to Megado Gold CEO and managing director, Michael Gumbley the exploration team’s review of the 1990s historical work conducted had already confirmed Chakata as incredibly prospective. “Now that the team has been able to commence early works, they report a massive, extensive quartz tourmaline vein to the southwest of the GT Prospect, we are keen to start testing our high priority targets. Artisanal miners are currently manually excavating the vein in and around the GT Prospect, regularly producing rock chips with gold visible to the naked eye,” says Gumbley.

Megado’s team has mobilised to site to complete the work required to prepare rig access and drill pads in order to commence execution of its phase one drilling programme at Chakata. This will occur immediately upon the conclusion of the drilling programme at the Company’s other premium gold project, Babicho.

Megado believes there is significant potential for repeat, blind, high-grade plunging shoots, characteristically similar to the Sakaro deposit, within a locally north-northeast divergent 2.5km+ strike length structural splay at the GT Prospect.

Fieldwork is ongoing, with geologists observing several styles of gold mineralisation. Consequently, the Ethiopian team has identified a multitude of new targets in addition to the granodiorite target and others identified historically, most of which are coincident with spectral targets identified by Megado. Previous exploration efforts at Chakata do not appear to have adequately led to a full understanding of its mineralisation potential, resulting in minimal drilling of what appear to be obvious high priority prospects.