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The junior said the funding would allow it to "execute a systematic exploration and growth strategy that aims to extend existing high-grade mineralisation, test multiple high priority regional prospects and to support a future maiden mineral resource estimate".
Mako believes its Napie ground has "potential for multimillion ounce gold deposits", with four prospects returning gold in drilling.
They include Tchaga where a headline hit of 13m at 21 grams per tonne gold from 32m has been recorded.
Mako has a 51% interest in Napie and can earn 75%, with its joint venture partner being gold miner Perseus Mining.
Another ASX-listed West Africa gold miner Resolute Mining exited its investment in Mako earlier this month.
Prior to going into a trading halt Mako's shares were trading at 14c, capitalising the company at $23.5 million.
The stock was trading at levels around 8c 12 months ago.
