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 /
|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|
|SA19-222||---||---||---||---||---||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|
|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|
|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|
|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|
|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|
|24.80||25.15||0.35||57.32*||40.3||Partial San Albino Zone/Voids &
|30.50||31.50||1.00||1.8*||2.8||San Albino Zone
|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|
|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|
|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|
|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|
|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|
|SA19-232||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|
|SA19-234||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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|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|
|SA19-272||13.40||14.40||1.00||1.74||12.6||Collapsed San Albino Tunnel||---||---|
|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|
|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|
|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|
|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|
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.
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,
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: firstname.lastname@example.org 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.