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Corona de Oro Gold Belt

Key Facts

Location Northern Nicaragua
Size of Land Holdings 188 km2
Concessions Four concessions - 1) San Albino-Murra, 2) El Jicaro, 3) Potrerillos, 4) La Segoviana
Ownership 100%
Deposit Type Orogenic – High grade Au, shallow dipping 1-2m wide stacked veins 
Targets Advanced Exploration -  Las Conchitas South
Mid Stage Exploration - San Albino Near Mine
Mid Stage Exploration - Las Conchitas Central
Mid Stage Exploration - Las Conchitas North
Early Stage Exploration - La Segoviana
Early Stage Exploration - El Jicaro
Early Stage Exploration - Potrerillos
Prospecting - 80% of concessions
Targeted Mining Method Open Pit and under-ground potential
Targeted Metal Au, Ag

Description

The "Corona de Oro" (Golden Crown) Gold Belt is a northwesterly trending, 5-10 km wide belt of metamorphic rocks with stacked, low angle, gold bearing quartz veins interpreted to be "orogenic" gold veins. The belt spans the entirety of the Company’s land package in Northern Nicaragua which extends over 28 km in a northeasterly direction. The area is relatively un-explored with modern exploration techniques.

Mako Mining Corp is the first company to develop a modern mine in this belt and to recognize the regional potential of this exciting area. Over the past 10 years, the company has established relationships with the local landowners and has been systematically acquiring the most prospective ground.

As announced on March 9, 2022, Mako is currently completing a US$17.2-million, 110,080-metre drill program across its 188-sq.-km land package in 2022. The program is focused on advancing the company’s pipeline of projects at the 100% owned land package, with the aim of delivering mineable resources to the San Albino mill.

Orogenic gold deposits are considered to be an important class of gold deposits since they are one of the largest deposit types in terms of gold endowment and tend to be high grade. Economically they are of great importance as they represent 30% of the world's gold production. They they tend to occur in clusters or "belts" with multiple significant deposits discovered over 10's of kilometers.

Prospecting over Mako's 188 km2 land package has identified several hundred occurances of gold bearing quartz veins (gold > 1 g/t). Outcrops in the area are rare, nearly all of the occurances were exposed in historical workings. Over 900 historical adits, prospect pits and mine dumps have been identified to date. The company is constantly generating and prioritizing new targets for drill testing.

Mako's large land package puts it in a unique position in the industry, giving it the ability to organically generate new drill targets over the 28km strike length of the 100% owned land package.

The company is agressively exploring the 188 km2 land package and has multiple projects ranging from resource definition to early stage exploration and prospecting.

Projects are advanced through 4 stages of exploration:

1) Prospecting - Anomalous areas are identified through regional mapping and sampling of prospects and historical workings.

2) Early stage exploration - Anomalies are further defined through use of soil sampling, trenching and local detailed mapping with the objective of identifng drill targets.

3) Mid stage exploration - This stage spans the initial drill testing of a project area and includes subsequent follow-up drill programs. The objective of this phase of exploration is to make a new discovery and to determine the extents of mineralization.

4) Advanced exploration - Projects in this stage are delineating resources through drilling and completing accomanying studies, such as metallurgy, rock mechanics, hydrology, environmental, socio economic etc. to bring the projects into production.

Geology

The Corona de Oro Gold Belt is underlain by a unique series of metamorphic rocks in Northern Nicaragua shown in grey on the regional geologic map.   The San Albino deposit is the only mine in Nicaragua hosted in metamorphic rocks (lower greenstone facies), the other operating mines in Nicaragua are all located in volcanic rocks.   This area is termed 'the Guayabe Suture Zone', which is a NE-SW trending belt of metamorphic rocks that have been "pasted" or "sutured" onto the continent forming the Dilpilto-Jalapa mountain chain, which are the highest mountains in Nicaragua. 

The company considers these unique geologic features to be signficint ingredients for the formation of Orogenic gold deposits.

San Albino is interpreted to be an Orogenic gold deposit based on the following characteristics:

San Albino appears to be in a unique class of Orogenic deposits due to its shallow dipping vein orientation, making it amenable to open pit mining.

Orogenic deposits tend to occur on a district scale and are one of the largest deposit types in terms of gold endowment.

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