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MKO – TSX.V
MKO – TSX.V

Infill Drilling at San Albino Intersects 47.09 g/t Gold Over 2.1 Meters (Estimated True Width) Thirteen Meters From Surface


November 25, 2019


Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “Company”) is pleased to report further positive results from the 2019 infill drilling program at its wholly-owned San Albino gold project (“San Albino”) located in Nueva Segovia, Nicaragua.

To date, 11,032 m of infill grade-control drilling has been completed in 242 diamond drill holes, with assays reported for 40 of these holes in this press release.  A breakdown of the results is as follows:

  • 24 holes intersected the San Albino Zone as projected;
  • 2 holes intersected the El Jobo Zone (a discontinuous vein/zone approximately 8 m above the San Albino Zone);
  • 7 holes encountered historic workings with a portion of the San Albino vein preserved;
  • 4 holes intersected historic dump material in the shallow projections of the San Albino Zone;
  • 2 holes intersected voids where the San Albino Zone was projected; and
  • 1 hole did not intersect significant results where the San Albino Zone was projected. 

The Company views these results positively, as the geological model, which was reinterpreted earlier this year, is continuing to yield highly predicable results.

One of the objectives of this round of drilling was to confirm a high-grade area where the Company plans to initiate mining in early 2020.  The highlight from drilling in this area was SA19-287, which intersected 47.09 g/t Au and 49.9 g/t Ag over 2.2 m (2.1 m estimated true width) 13 m from surface.  Other noteworthy holes in this area were SA19-256, which intersected 42.44 g/t Au and 80.5 g/t Ag over 1.7 m (1.6 m estimated true width) 14 m from surface and SA 19-283, which intersected 25.23 g/t Au and 53.9 g/t Ag over 3.0 m (2.8 m estimated true width) 3.6 m from surface.

Additionally, one drill rig continues to be solely focused on confirming the strike and dip extension of the near surface and high-grade Porcelana-style mineralization encountered in holes SA19-155 and SA19-207, which intersected 60.72 g/t Au and 66.4 g/t Ag over 6.5 m (3.1 m estimated true width) and 50.78 g/t Au and 13.0 g/t Ag over 5.3 m (5.1 m estimated true width), respectively (see press releases dated September 4, 2019 and September 26, 2019).  Highlights from drilling of the Porcelana-style mineralization are holes SA19-223 and SA19-225. 

SA19-223 intersected 19.28 g/t Au and 17.6 g/t Ag over 4.2 m (4.0 m estimated true width) approximately 43 m from surface and 30 m southwest from the previously reported hole SA19-216, which intersected 23.86 g/t Au and 17.0 g/t Ag over 3.0 m (2.5 m estimated true width).  SA19-216 was previously the southernmost intersection of Porcelana-style mineralization (see press release dated October 17, 2019).  Additional holes are planned to test approximately 170 m of potential strike length to the southwest.

SA19-225 intersected 20.18 g/t Au and 19.6 g/t Ag over 4.1 m (3.5 m estimated true width) approximately 45 m from surface and 50 m down dip from hole SA19-210, which intersected 8.6 g/t Au and 10.4 g/t Ag over 8.1 m (7.7  m estimated true width) (see press release dated 26, 2019).  In order to aggressively follow up on the down dip potential of Porcelana-style mineralization, an additional drill rig has arrived at site and going forward two drill rigs will be focused on the down dip and strike extensions in this area.

Akiba Leisman, Chief Executive Officer of Mako states “this is the fourth press release related to infill grade-control drilling at San Albino since the program was initiated in August 2019.  What started as a 7,000 m infill program now totals 11,032 m in 242 diamond drill holes due to the positive results encountered to date.  In fact, we have increased the overall rig count from four to five (four at San Albino and one at Las Conchitas).  The additional drill rig will join the rig currently focused on confirming the strike and dip extensions of the Porcelana-style mineralization that has yielded some of the highest grade x thickness intercepts in the Company’s history.  Mako has been releasing a large volume of drilling results over the past several months and the full drill hole database for San Albino can now be found on our website. I would like to take this time to thank our entire geologic team in Nicaragua for their tremendous effort and especially Frank Powell and Zoran Pudar for leading the effort.”

2019 Infill Drilling Program Assay Results Reported In This Press Release

Drill Hole From (m) To (m) Width (m) Au (g/t) Ag (g/t) Zone /
Comments
Interval
Averages
True Width (m)***
SA19-218 26.50 27.50 1.00 5.15* 4.0 San Albino Zone 5.15 g/t Au and 4.0 g/t Ag over 1.0 m 0.9
SA19-219 20.50 21.50 1.00 3.60* 5.1 San Albino Zone 3.60 g/t Au and 5.1 g/t Ag over 1.0 m 0.9
SA19-220 30.00 31.30 1.30 46.41* 35.9 San Albino Zone 46.41 g/t Au and 35.9 g/t Ag over 1.3 m 1.2
SA19-221 28.70 32.40 3.70 --- --- Void --- ---
33.05 35.25 2.20 --- --- Void --- ---
SA19-222 --- --- --- --- --- No Significant Intersect --- ---
SA19-223 46.40 47.40 1.00 4.65* 18.4 San Albino Zone 19.28 g/t Au and 17.6 g/t Ag over 4.2 m 4.0
47.40 48.40 1.00 22.41* 14.5
48.40 49.50 1.10 18.30* 17.4
49.50 50.60 1.10 30.72* 19.9
SA19-224 36.80 38.00 1.20 4.12* 20.1 San Albino Zone 5.53 g/t Au and 11.9 g/t Ag over 5.4 m 5.0
38.00 38.50 0.50 15.17* 39.7
38.50 39.80 1.30 6.42* 5.9
39.80 40.20 0.40 5.15* 11.3
40.20 41.20 1.00 4.64* 5.0
41.20 42.20 1.00 2.26* 2.9
42.20 43.70 1.50 0.14 * 1.0 --- --- ---
43.70 44.70 1.00 2.20* 4.9 San Albino Zone (Footwall) 2.20 g/t Au and 4.9 g/t Ag over 1.0 m 0.7
SA19-225 60.40 61.00 0.60 13.11* 21.8 San Albino Zone 20.18 g/t Au and 19.6 g/t Ag over 4.1 m 3.5
61.00 62.00 1.00 9.87* 7.8
62.00 63.00 1.00 43.28* 49.0
63.00 63.70 0.70 19.38* 8.9
63.70 64.50 0.80 10.21* 5.5
SA19-226 16.00 17.00 1.00 11.60 10.3 San Albino Zone 15.90 g/t Au and 12.4 g/t Ag over 2.0 m 2.0
17.00 18.00 1.00 20.20 14.5
SA19-227 21.50 22.60 1.10 3.14 4.2 Partial San Albino Zone 11.29 g/t Au and 18.1 g/t Ag over 2.30 m 2.0
22.60 23.80 1.20 18.75* 30.8
23.80 24.80 1.00 --- --- Void --- ---
24.80 25.15 0.35 57.32* 40.3 Partial San Albino Zone/Voids &

 

Broken Ground

--- ---
27.15 27.60 0.45 13.60* 13.6
28.30 29.10 0.80 26.14* 39.3
29.10 30.50 1.40 --- --- Void --- ---
30.50 31.50 1.00 1.8* 2.8 San Albino Zone

 

(Footwall)

1.80 g/t Au and 2.8 g/t Ag over 1.0 m 0.8
SA19-228 12.00 13.00 1.00 13.80 33.4 San Albino Zone 7.62 g/t Au and 19.9 g/t Ag over 3.0 m 2.7
13.00 14.00 1.00 4.85* 16.8
14.00 15.00 1.00 4.21 9.4
24.00 25.50 1.50 11.50 6.7 Mineralized Lens 11.5 g/t Au and 6.7 g/t over 1.5 m 1.2
SA19-229 46.40 47.40 1.00 8.11 15.3 San Albino Zone 11.94 g/t Au and 16.0 g/t Ag over 3.7 m 3.0
47.40 48.40 1.00 6.12 13.3
48.40 49.40 1.00 1.11 5.1
49.40 50.10 0.70 41.20 36.4
55.00 56.00 1.00 1.96 4.0 San Albino Zone 2 11.74 g/t Au and 9.2 g/t Ag over 3.4 m 2.5
56.00 57.20 1.20 8.43 11.6
57.20 58.40 1.20 23.20 11.2
60.60 61.70 1.10 6.70 6.9 San Albino Zone (Footwall) 6.70 g/t Au and 6.9 g/t Ag over 1.1 m 0.7
SA19-230 39.80 41.50 1.70 --- --- Void --- ---
43.00 44.20 1.20 37.42* 128.0 San Albino Zone 37.42 g/t Au and 128.0 g/t Ag over 1.2 m 0.9
SA19-231 12.30 15.70 3.40 --- --- Void --- ---
SA19-232 12.70 13.70 1.00 7.13* 36.0 San Albino Zone 7.13 g/t Au and 36.0 g/t Ag over 1.0 m 1.0
SA19-233 --- --- --- --- --- Results Pending --- ---
SA19-234 5.60 6.60 1.00 9.86* 1.9 El Jobo Zone 19.57 g/t Au and 38.4 g/t Ag over 2.0 m 1.9
6.60 7.60 1.00 29.27* 74.9
SA19-235           Results Pending    
SA19-236 23.50 24.50 1.00 1.93 6.1 Faulted San Albino Zone 1.93 g/t Au and 6.1 g/t Ag over 1.0 m 0.9
SA19-237 18.50 19.50 1.00 3.02 10.2 San Albino Zone 16.51 g/t Au and 35.4 g/t Ag over 1.6 m 1.4
19.50 20.10 0.60 39.00 77.3
SA19-238 16.50 17.50 1.00 3.69* 30.2 El Jobo Zone 3.69 g/t Au and 30.2 g/t Ag over 1.0 m 0.9
37.80 40.50 2.70 --- --- Void --- ---
SA19-239           Results Pending    
SA19-240 11.50 13.00 1.50 3.23 7.3 San Albino Zone 3.23 g/t Au and 7.3 g/t Ag over 1.5 m 1.2
SA19-241 37.30 38.30 1.00 30.93* 45.9 San Albino Zone 29.71 g/t Au and 27.5 g/t Ag over 2.8 m 2.0
38.30 39.20 0.90 50.44* 29.9
39.20 40.10 0.90 7.61* 4.7
SA19-242           Results Pending    
SA19-243           Results Pending    
SA19-244           Results Pending    
SA19-245           Results Pending    
SA19-246 11.0 12.0 1.0 7.83* 16.1 San Albino Zone 7.83 g/t Au and 16.1 g/t Ag over 1.0 m 0.9
SA19-247 8.00 9.00 1.00 1.86 16.1 San Albino Zone 9.98 g/t Au and 23.5 g/t Ag over 2.75 m 2.6
9.00 10.00 1.00 11.40 21.9
10.00 10.75 0.75 18.90 35.6
SA19-248 6.35 7.20 0.85 5.27 31.7 San Albino Zone 14.38 g/t Au and 21.4 g/t Ag over 2.65 m 2.5
7.20 8.10 0.90 36.30 31.0
8.10 9.00 0.90 1.07 2.0
SA19-249 5.50 6.60 1.10 9.57* 22.1 San Albino Zone 6.97 g/t Au and 15.3 g/t Ag over 2.1 m 2.0
6.60 7.60 1.00 4.12* 7.9
SA19-250           Results Pending    
SA19-251           Results Pending    
SA19-252           Results Pending    
SA19-253           Results Pending    
SA19-254           Results Pending    
SA19-255           Results Pending    
SA19-256 14.00 14.60 0.60 37.20 82.2 San Albino Zone 42.44 g/t Au and 80.5 g/t Ag over 1.7 m 1.6
14.60 15.70 1.10 45.30 79.6
SA19-257           Results Pending    
SA19-258           Results Pending    
SA19-259           Results Pending    
SA19-260           Results Pending    
SA19-261 2.80 4.20 1.40 23.10 32.2 San Albino Zone 23.10 g/t Au and 32.2 g/t Ag over 1.4 m 1.4
SA19-262 12.70 13.70 1.00 18.00 62.3 San Albino Zone 18.00 g/t Au and 62.3 g/t Ag over 1.0 m 0.9
SA19-263 0.00 2.20 2.20 5.44 8.9 Historic Dump** --- ---
2.20 3.40 1.20 4.94 5.3
3.40 4.80 1.40 8.07 22.0
4.80 5.60 0.80 27.60 62.0 San Albino Zone 14.04 g/t Au and 278.6 g/t Ag over 2.0 m 1.9
5.60 6.80 1.20 5.00 423.0
SA19-264 0.00 1.70 1.70 3.47 1.4 Historic Dump** --- ---
1.70 3.00 1.30 6.28 7.5
3.00 4.50 1.50 1.15 2.9
SA19-265           Results Pending    
SA19-266 11.40 12.90 1.50 3.95* 15.6 San Albino Zone 3.95 g/t Au and 15.6 g/t Ag over 1.5 m 1.3
12.90 16.40 3.50 --- --- Void --- ---
SA19-267           Results Pending    
SA19-268 0.00 1.00 1.00 2.59 13.4 San Albino Zone (Partial) 2.59 g/t Au and 13.4 g/t Ag over 1.0 m 1.0
SA19-269           Results Pending    
SA19-270 0.00 1.00 1.00 7.80 10.3 Historic Dump** --- ---
1.00 2.00 1.00 3.96 23.2
2.00 3.50 1.50 1.58* 6.8
3.50 4.60 1.10 4.53* 50.4
SA19-271           Results Pending    
SA19-272 13.40 14.40 1.00 1.74 12.6 Collapsed San Albino Tunnel --- ---
14.40 15.40 1.00 10.60 6.7
15.40 16.40 1.00 7.79 29.8
16.40 17.40 1.00 6.47 50.7
SA19-273 12.90 13.80 0.90 21.60 16.5 San Albino Zone 9.38 g/t Au and 17.4 g/t Ag over 3.1 m 2.7
13.80 15.00 1.20 6.86 25.0
15.00 16.00 1.00 1.42 9.2
SA19-274 0.00 1.50 1.50 2.66 3.3 Historic Dump** --- ---
1.50 3.00 1.50 1.44 6.4
3.00 4.00 1.00 31.30 23.9
4.00 5.50 1.50 1.57 11.4
5.50 7.00 1.50 0.68 8.0
7.00 8.25 1.25 0.45 8.4
8.25 9.25 1.00 19.00 32.5
9.25 10.40 1.15 1.54 3.7
10.40 11.60 1.20 69.60 56.2
11.60 12.50 0.90 8.24 47.5
12.50 13.50 1.00 2.71 61.6
SA19-275 0.00 1.00 1.00 7.96 22.3 Historic Dump** --- ---
1.00 2.00 1.00 22.40 32.8
2.00 3.00 1.00 6.24 34.7
3.00 4.00 1.00 8.30 20.1
4.00 5.00 1.00 6.38 17.5
5.00 6.00 1.00 5.39 34.6
6.00 7.00 1.00 30.40 69.3
7.00 8.00 1.00 3.86 16.4
8.00 9.00 1.00 0.08 1.2
9.00 10.00 1.00 0.14 0.9
10.00 11.30 1.30 0.05 0.7
11.30 12.50 1.20 5.77 54.1
SA19-276           Results Pending    
SA19-277           Results Pending    
SA19-278           Results Pending    
SA19-279           Results Pending    
SA19-280           Results Pending    
SA19-281           Results Pending    
SA19-282           Results Pending    
SA19-283 0.20 1.60 1.40 2.68 6.7 Historic Dump** --- ---
1.60 2.60 1.00 1.20 5.2
2.60 3.60 1.00 0.78 5.3
3.60 4.60 1.00 18.60 90.5 San Albino Zone 25.23 g/t Au and 53.9 g/t Ag over 3.0 m 2.8
4.60 5.60 1.00 8.10 30.4
5.60 6.60 1.00 49.00 40.7
SA19-284           Results pending    
SA19-285           Results pending    
SA19-286 19.00 19.70 0.70 52.20 95.9 San Albino Zone 15.05 g/t Au and 29.0 g/t Ag over 3.6 m 3.4
19.70 20.60 0.90 9.80 23.4
20.60 21.60 1.00 2.34 13.5
21.60 22.60 1.00 6.48 2.7
SA19-287 13.00 13.90 0.90 15.30 32.2 San Albino Zone 47.09 g/t Au and 49.9 g/t Ag over 2.2 m 2.1
13.90 15.20 1.30 69.10 62.1

The mineralized intervals shown above utilize a 1.0 g/t gold cut-off grade with not more than 1.0 meter of internal dilution. * Indicates use of metallic screening method for assays. ** Historic Dump is interpreted to be "waste" material from the mining operations during the period 1870-1920 and possibly during Spanish times.  The grade and distribution of Historic Dump material is erratic and unpredictable. *** True width is estimated from interpreted sections.

Sampling, Assaying, QA/QC and Data Verification

Drill core was continuously sampled from inception to termination of the drill hole.  Sample intervals were typically one meter.  Drill core diameter was HQ (6.35 centimeters).  Geologic and geotechnical data was captured into a digital database, core was photographed, then one-half split of the core was collected for analysis and one-half was retained in the core library.  Samples were kept in a secured logging and storage facility until such time that they were delivered to the Managua facilities of Bureau Veritas and pulps were sent to the Bureau Veritas laboratory in Vancouver for analysis.  Gold was analyzed by standard fire assay fusion, 30gram aliquot, AAS finish.  Samples returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric method.  Due to the presence of coarse gold, the Company has used 500-gram metallic screened gold assays for analyzing samples that yielded a fire assay result greater than 1 g/t, and samples immediately above and below drilled veins.  This method, which analyzes a larger sample, can be more precise in high-grade vein systems containing coarse gold. All reported drill results in this press release used the standard Fire Assay-Gravimetric method unless otherwise indicated as using the metallic screening method.  The Company follows industry standards in its QA&QC procedures. Control samples consisting of duplicates, standards, and blanks were inserted into the sample stream at a ratio of 1 control sample per every 10 samples.  Analytical results of control samples confirmed reliability of the assay data.

2019 Infill drill program west pit area

Qualified Person

John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved the technical information contained in this press release. Mr. Kowalchuk is a senior geologist and a consultant to the Company.

On behalf of the Board,

Akiba Leisman
CEO

About Mako

Mako Mining Corp. is a publicly listed gold mining, development and exploration firm. The Company is developing its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako’s primary objective is to bring San Albino into production quickly and efficiently, while continuing exploration of prospective targets in Nicaragua.

For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 203-862-7059, E-mail: aleisman@makominingcorp.com or visit our website at www.makominingcorp.com and SEDAR www.sedar.com.

Forward-Looking Statements:  Statements contained herein, other than of historical fact, may be considered “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is based on certain expectations and assumptions, including that the Company’s exploration and in-fill drilling programs will be successfully completed; that any outstanding assay results will be as anticipated; that the Porcelana-style mineralization discovered is anticipated to have a material impact on the economics of the San Albino gold project; that the Company will be able to successfully adjust its mine plan based on anticipated successful drilling results; that the geological model will continue to yield highly predicable results; that although the Company’s production decision at its San Albino project is not based on a technical study supporting mineral reserves, and therefore not based on demonstrated economic viability, management currently plans to initiate mining in early 2020; that the Company will be successful in any proposed financing plans necessary for the construction at the San Albino project. and such other risk factors as outlined in the continuous disclosure documents of the Company filed on SEDAR at www.sedar.com.  Such forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation, the risks that additional satisfactory exploration and drilling results at San Albino will not be obtained; that the PEA is preliminary in nature and there is no certainty that the PEA will be realized; the risk of economic and/or technical failure at the San Albino project associated with basing a production decision on the PEA without demonstrated economic and technical viability; that exploration results will not translate into the discovery of an economically viable deposit; risks and uncertainties relating to political risks involving the Company’s exploration and development of mineral properties interests; the inherent uncertainty of cost estimates and the potential for unexpected costs and expense; commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management’s best judgment as of the date hereof, based on information currently available and is included for the purposes of providing investors with the Company’s plans and expectations at its San Albino project and may not be appropriate for other purposes.  Mako does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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