What Is Going On With MAKENA RESOURCES INC (CVE:MKN)?

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MAKENA RESOURCES INC

Earlier in February MAKENA RESOURCES INC (CVE:MKN) released report of the 2016 drilling at its Clone Gold property based in the Golden Triangle region. The mineralized intercepts show distinctive indications of hydrothermal brecciation, with gold happening as fine disseminations contained within intensely chloritized, extremely silicified semi-massive to substantial hematite-specularite.

The buzz

The previous five holes of the 7-hole plan were noted at the southeastern end of a native widening in the H-1 arrangement from which numerous multi-ounce gold consignments have been taken earlier. Almost a 100 meters to the southeast, the initial two holes of the plan were drilled underneath a trench dug in 1995 which reverted a grade of 0.18% cobalt and 11.65 g/t gold across 9 meters. True widths of the breaks are not known. No noteworthy cobalt values were met in the holes.

The Clone gold as well as gold-cobalt having shear zones were first exposed in 1995. Since then nearly $6 million has been expended exploring a series of incidences lying along a 2 km bundle of sedimentary and volcanic rocks. The so-termed Main Zone, located in the southeast portion of this arrangement, has resulted in elevated gold grades in trenches as well as in diamond drill core.

MAKENA RESOURCES reported that quality control processes in place comprise the field insertion of standards and blanks into the sample source. Analytical work was performed by Pioneer Laboratories of Richmond, an accredited facility. Yellow metal was assessed by 30-gram fire test with AA finish. The eligible person for this update is Dino Cremonese, P.Eng.

Prior to this Makena Resources reported that the first hole of diamond drilling program of 2016 at the Clone gold asset crossed 6.43 meters grading 17.83 grams a tonne gold to 52.76 from 46.33 meters. Hole CL-16-01 was intended to test the depth prospect of a trench quarried in 1995.

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