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MKO – TSX.V
MKO – TSX.V
Southern District San Albino Deposit Drilling and Trenching Results

The Las Conchitas Area is located immediately south (1.5 kilometres) of the Company’s high-grade San Albino Gold Deposit and is situated near the southern end of the Corona de Oro Gold Belt, a corridor 3 kilometres wide by 23 kilometres long bearing hundreds of historical mines and workings.

Exploration activities by the Company identified at least seven highly mineralized structures within the Las Conchitas area, with strike lengths ranging from 500 to more than 1,000 metres, all located within a 2.5 km2 area. To date, Mako Mining has completed significant trenching, covering 4,300 metres in 134 trenches and exploration pits. A small number of the most prospective trenching results have been tested by 18 holes drilled for 3,040 metres.

The preliminary metallurgical testing (gravity recovery followed by the cyanidation of gravity tailings), from composite trench samples at Las Conchitas, returned very positive results averaging:

  • 95.7% gold and 68.5% silver recovery, grading on average 8.70 g/t Au and 20.10 g/t Ag.

These are excellent preliminary results and are comparable to those reported for the San Albino Gold Deposit.

Exploration results from Las Conchitas include the following:

2018 Drilling Results
Drill Hole Number Drill Hole Inclination From (m) To (m) Width (m) Au (g/t) Ag (g/t) Interval Average
SP18-01 -90 17.89 18.89 1.00 4.70 6.6 2.0 m of 3.45 g/t Au and 5.2 g/t Ag
SP18-01 -90 18.89 19.89 1.00 2.19 3.8
SP18-02 -90 24.60 25.60 1.00 3.38 4.6 1.0 m of 3.38 g/t Au and 4.6 g/t Ag
SP18-03 -90 23.00 24.50 1.50 0.97 1.5 6.0 m of 4.13 g/t Au and 3.8 g/t Ag
SP18-03 -90 24.50 25.70 1.20 4.23 3.6
SP18-03 -90 25.70 26.70 1.00 0.13 1.4
SP18-03 -90 26.70 27.90 1.20 10.42 7.5
SP18-03 -90 27.90 29.00 1.10 5.13 5.4
SP18-04 -50 16.50 17.50 1.00 2.38 1.7 1.0 m of 2.38 g/t Au and 1.7 g/t Ag
SP18-05 -90 26.50 27.50 1.00 0.44 2.2 1.0 m of 0.44 g/t Au and 2.2 g/t Ag
SP18-06 -90 21.50 22.70 1.20 3.02 5.1 1.2 m of 3.02 g/t Au and 5.1 g/t Ag
SP18-06 -90 25.50 26.70 1.20 1.02 1.0 1.2 m of 1.02 g/t Au and 1.0 g/t Ag
SP18-07 -90 24.00 25.00 1.00 0.82 1.9 1.0 m of 0.82 g/t Au and 1.9 g/t Ag
MF18-08 -50 15.80 16.80 1.00 0.55 3.3 1.0 m of 0.55 g/t Au and 3.3 g/t Ag
MF18-08 -90 45.10 46.10 1.00 0.17 0.3 1.0 m of 0.17 g/t Au and 0.3 g/t Ag
MF18-09 -90 22.00 23.50 1.50 0.17 12.4 1.5 m of 0.17 g/t Au and 12.4 g/t Ag
MF18-10 -90 41.00 42.00 1.00 0.40 1.8 1.0 m of 0.40 g/t Au and 1.8 g/t Ag
MF18-11 -90 11.80 12.80 1.00 3.81 8.6 2.0 m of 2.56 g/t Au and 7.2 g/t Ag
MF18-11 -90 12.80 13.80 1.00 1.31 5.7
MF18-11 -90 42.30 43.30 1.00 0.65 1.4 1.0 m of 0.65 g/t Au and 1.4 g/t Ag
MF18-13 -90 36.00 37.50 1.50 0.11 0.6 1.5 m of 0.11 g/t Au and 0.6 g/t Ag
MF18-13 -90 45.00 46.50 1.50 0.18 0.5 1.5 m of 0.18 g/t Au and 0.5 g/t Ag
MF18-13 -90 52.50 54.00 1.50 0.48 0.3 3.0 m of 0.50 g/t Au and 0.4 g/t Ag
MF18-13 -90 54.00 55.50 1.50 0.51 0.5
MF18-14 -90 9.50 10.50 1.00 0.42 1.0 1.0 m of 0.42 g/t Au and 1.0 g/t Ag
MF18-14 -90 59.00 60.00 1.00 0.49 0.7 1.0 m of 0.49 g/t Au and 0.7 g/t Ag
INT18-15 -90 24.60 25.60 1.00 3.00 4.3 1.0 m of 3.00 g/t Au and 4.3 g/t Ag
INT18-15 -90 40.60 41.30 0.70 2.64 3.3 0.7 m of 2.64 g/t Au and 3.3 g/t Ag
INT18-16 -90 27.75 28.85 1.10 2.05 9.9 1.1 m of 2.05 g/t Au and 9.9 g/t Ag
INT18-18 -60 40.50 41.50 1.00 4.56 10.8 1.0 m of 4.56 g/t Au and 10.8 g/t Ag
INT18-19 -90 47.15 48.35 1.20 16.65 12.1 1.2 m of 16.65 g/t Au and 12.1 g/t Ag
INT18-20 -90 26.20 27.20 1.00 1.88 2.9 1.0 m of 1.88 g/t Au and 2.9 g/t Ag
CG18-21 -90 9.50 11 1.5 0.11 0.4 1.5 m of 0.11 g/t Au and 0.4 g/t Ag
CG18-21 -90 22.10 23.10 1.00 0.83 25.5 2.25 m of 0.79 g/t Au and 18.7 g/t Ag
CG18-21 -90 23.10 24.35 1.25 0.76 13.2
CG18-22 -90 18.10 19.20 1.10 0.28 2.1 1.1 m of 0.28 g/t Au amd 2.1 g/t Ag
CG18-24 -90 14.00 15.00 1.00 1.25 1.1 1.0 m of 1.25 g/t Au and 1.1 g/t Ag
CG18-24 -90 20.50 22.20 1.70 45.25 41.9 5.65 m of 23.63 g/t Au and 25.1 g/t Ag
CG18-24 -90 22.20 23.65 1.45 0.27 1.9
CG18-24 -90 23.65 25.15 1.50 36.67 43.5
CG18-24 -90 25.15 26.15 1.00 1.17 2.7
CG18-25 -60 59.55 60.25 0.70 8.37 18.6 4.15 m of 11.31 g/t Au and 12.2 g/t Ag
CG18-25 -60 60.25 61.00 0.75 0.07 1.4
CG18-25 -60 61.00 62.50 1.50 23.89 11.7
CG18-25 -60 62.50 63.70 1.20 4.31 15.8
CG18-27 -90 0.40 2.00 1.60 1.75 26.9 2.6 m of 3.64 g/t Au and 26.7 g/t Ag
CG18-27 -90 2.00 3.00 1.00 6.66 26.5
MB18-28 -90 3.00 4.20 1.20 14.76 13.9 2.3 m of 10.17 g/t Au and 18.2 g/t Ag
MB18-28 -90 4.20 5.30 1.10 5.16 22.8
MB18-29 -90 3.60 5.00 1.40 11.24 10.4 2.4 m of 7.57 g/t Au and 9.3 g/t Ag
MB18-29 -90 5.00 6.00 1.00 2.42 7.7
MB18-30 -90 33.00 34.50 1.50 0.10 0.7 1.5 m of 0.10 g/t Au and 0.7 g/t Ag
MB18-31 -90 12.10 13.50 1.40 1.12 4.1 1.4 m of 1.12 g/t Au and 4.1 g/t Ag
MB18-31 -90 18.50 19.50 1.00 3.49 4.3 1.0 m of 3.49 g/t Au and 4.3 g/t Ag
MB18-32 -90 15.00 16.00 1.00 1.79 5.1 1.0 m of 1.79 g/t Au and 5.1 g/t Ag
MB18-33 -90 0.20 1.60 1.40 0.38 10.9 1.4 m of 0.38 g/t Au and 10.9 g/t Ag
MB18-34 -90 15.00 16.45 1.45 1.47 6.0 1.45 m of 1.47 g/t Au and 6.0 g/t Ag
MB18-34 -90 35.00 36.00 1.00 1.81 3.9 1.0 m of 1.81 g/t Au and 3.9 g/t Ag
MB18-36 -90 16.20 17.50 1.30 1.76 3.3 3.6 m of 1.30 g/t Au and 2.6 g/t Ag
MB18-36 -90 17.50 18.80 1.30 0.05 1.2
MB18-36 -90 18.80 19.80 1.00 2.32 3.6
MB18-37 -90 23.00 24.00 1.00 0.39 2.6 1.0 m of 0.39 g/t Au and 2.6 g/t Ag
MB18-37 -90 28.50 29.70 1.20 0.43 3.5 1.2 m of 0.43 g/t Au and 3.5 g/t Ag
MB18-38 -90 35.80 36.70 0.90 9.07 41.9 1.8 m of 17.61 g/t Au and 31.2 g/t Ag
MB18-38 -90 36.70 37.60 0.90 26.14 20.5
MB18-38 -90 48.00 49.00 1.00 0.86 1.9 1.00 m of 0.86 g/t Au and 1.9 g/t Ag
MB18-39  -90 19.00 20.00 1.00 0.33 0.7 2.0 m of 0.24 g/t Au and 0.7 g/t Ag
MB18-39  -90 20.00 21.00 1.00 0.15 0.7
LD18-40 -90 15.00 16.50 1.50 0.20 0.7 1.5 m of 0.20 g/t Au and 0.7 g/t Ag
LD18-40 -90 18.50 19.75 1.25 0.17 0.6 1.25 m of 0.17 g/t Au and 0.6 g/t Ag
LD18-40 -90 25.50 26.50 1.00 0.11 0.8 1.0 m of 0.11 g/t Au and 0.8 g/t Ag
LD18-41 -90 28.00 29.50 1.50 1.64 2.7 1.5 m of 1.64 g/t Au and 2.7 g/t Ag
LD18-41 -90 50.00 51.00 1.00 0.45 2.5 1.0 m of 0.45 g/t Au and 2.5 g/t Ag
LD18-42 -90 7.50 8.50 1.00 0.56 0.7 1.0 m of 0.56 g/t Au and 0.7 g/t Ag
LD18-43 -90 8.50 9.60 1.10 41.30 31.7 6.1 m of 16.48 g/t Au and 27.7 g/t Ag
LD18-43 -90 9.60 11.10 1.50 22.80 66.0
LD18-43 -90 11.10 12.10 1.00 1.82 5.2
LD18-43 -90 12.10 13.30 1.20 4.65 5.9
LD18-43 -90 13.30 14.60 1.30 10.40 17.6
LD18-45 -90 12.80 13.80 1.00 5.69 6.0 1.0 m of 5.69 g/t Au and 6.0 g/t Ag
RS18-48 -50 2.00 3.50 1.50 4.61 138.0 1.5 m of 4.61 g/t Au and 138.0 g/t Ag
RS18-49 -90 1.20 2.40 1.20 1.25 6.4 1.2 m of 1.25 g/t Au and 6.4 g/t Ag
               
Silver Rich Zone
LD18-46 -90 0.30 2.00 1.70 0.01 30.7 1.7 m of 30.7 g/t Ag
LD18-46 -90 12.00 13.50 1.50 0.01 577.0 1.5 m of 577.0 g/t Ag
LD18-46 -90 35.75 37.85 2.10 0.00 19.0 2.1 m of 19.0 g/t Ag
RS18-47 -90 25.50 26.50 1.00 0.04 14.1 1.0 m of 14.1 g/t Ag
RS18-47 -90 34.90 36.00 1.10 0.01 57.3 4.6 m of 37.8 g/t Ag, including 1.2m of 83.3 g/t Ag
RS18-47 -90 36.00 37.00 1.00 0.01 1.8
RS18-47 -90 37.00 38.20 1.20 0.02 83.3
RS18-47 -90 38.20 39.50 1.30 0.01 7.0
RS18-48 -50 0.50 2.00 1.50 0.05 34.7 7.5 m of 45.3 g/t Ag, including 1.5m of 138.0 g/t Ag
RS18-48 -50 2.00 3.50 1.50 4.61 138.0
RS18-48 -50 3.50 5.00 1.50 0.19 19.8
RS18-48 -50 5.00 6.50 1.50 0.03 9.7
RS18-48 -50 6.50 8.00 1.50 0.06 24.1
RS18-49 -90 1.20 2.40 1.20 1.25 6.4 1.2 m of 6.4 g/t Ag
Trench Name From (m) To (m) Width (m) Sample Orientation Rock Type Au (g/t) Ag (g/t) Interval Average
EXP18-EXP11-TR02 0.0 1.0 1.0 Vertical Waste Dump 13.30 9.0 1.0 m of 13.30 g/t Au and 9.0 g/t Ag
EXP18-EXP11-TR02 0.0 1.0 1.0 Vertical Waste Dump 14.20 13.7 1.0 m of 14.20 g/t Au and 13.7 g/t Ag
EXP18-EXP11-TR02 1.0 2.0 1.0 Vertical Quartz vein,Phyllite 11.60 6.0 1.0 m of 11.60 g/t Au and 6.0 g/t Ag
EXP18-EXP11-TR02 0.0 1.5 1.6 Vertical Waste Dump 6.66 5.8 1.6 m of 6.66 g/t Au and 5.8 g/t Ag
EXP18-EXP11-TR02 0.0 1.0 1.0 Vertical Waste Dump 2.35 3.8 2.5 m of 6.50 g/t Au and 5.6 g/t Ag
EXP18-EXP11-TR02 1.0 2.5 1.5 Vertical Waste Dump 9.28 6.8
EXP18-EXP11-TR02 2.5 4.0 1.5 Vertical Phyllite 7.91 3.6 1.5 m of 7.91 g/t Au and 3.6 g/t Ag
EXP18-EXP11-TR02 0.0 1.5 1.5 Vertical Waste Dump 4.34 3.4 1.5 m of 4.34 g/t Au and 3.4 g/t Ag
EXP18-EXP11-TR02 2.5 3.3 0.8 Vertical Quartz vein,Phyllite 8.85 7.8 2.5 m of 6.05 g/t Au and 11.2 g/t Ag
EXP18-EXP11-TR02 3.3 4.3 1.0 Vertical Phyllite 3.30 5.8
EXP18-EXP11-TR02 0.0 1.2 1.2 Vertical Phyllite 2.09 0.8 1.2 m of 2.09 g/t Au and 0.8 g/t Ag
EXP18-EXP11-TR02 0.0 1.0 1.0 Vertical Waste Dump 9.89 5.8 1.0 m of 9.89 g/t Au and 5.8 g/t Ag
EXP18-EXP11-TR02 0.0 1.6 1.6 Vertical Phyllite 1.61 7.4 1.6 m of 1.61 g/t Au and 7.4 g/t Ag
EXP18-EXP11-TR02 0.0 1.2 1.2 Vertical Quartz vein 9.90 4.7 1.2 m of 9.90 g/t Au and 4.7 g/t Ag
EXP18-EXP11-TR02 0.0 1.6 1.6 Vertical Quartz vein ,Phyllite 3.42 4.6 1.6 m of 3.42 g/t Au and 4.6 g/t Ag
EXP18-EXP11-TR02 0.0 1.5 1.5 Vertical Phyllite 1.36 1.9 1.5 m of 1.36 g/t Au and 1.9 g/t Ag
EXP18-SP11-TR04  0.0 1.2 1.2 Vertical Quartz vein 1.11 2.4 1.2 m of 1.11 g/t Au and 2.4 g/t Ag
EXP18-SP11-TR04  0.0 1.4 1.4 Vertical Quartz vein 3.67 4.5 2.6 m of 2.68 g/t Au and 3.9 g/t Ag
EXP18-SP11-TR04  1.4 2.6 1.2 Vertical Quartz vein 1.53 3.3
EXP18-SP11-TR04  0.0 1.2 1.2 Vertical Quartz vein, Saprolite 4.27 8.9 1.2 m of 4.27 g/t Au and 8.9 g/t Ag
SP18-TUNNEL SAN PABLO 0.0 1.0 1.0 Vertical  Quartz vein,Phyllite 1.99 6.4 1.0 m of 1.99 g/t Au and 6.4 g/t Ag
SP18-TUNNEL SAN PABLO 0.0 1.3 1.3 Vertical  Quartz vein,Phyllite 4.61 3.5 1.3 m of 4.61 g/t Au and 3.5 g/t Ag
SP18-TUNNEL SAN PABLO 0.0 1.6 1.6 Vertical  Quartz vein,Phyllite 2.20 6.3 1.6 m of 2.20 g/t Au and 6.3 g/t Ag
SP18-TUNNEL SAN PABLO 0.0 1.1 1.1 Vertical  Quartz vein,Phyllite 7.22 8.6 1.1 m of 7.22 g/t Au and 8.6 g/t Ag
SP18-TUNNEL SAN PABLO 0.0 1.4 1.4 Vertical  Quartz vein,Phyllite 4.65 4.1 1.4 m of 4.65 g/t Au and 4.1 g/t Ag
SAM18-TR-31 5.0 6.0 1.0 Along dip  Quartz vein 36.65 70.7 4.0 m of 22.74 g/t Au and 30.6 g/t Ag
SAM18-TR-31 6.0 7.0 1.0 Along dip  Quartz vein,Phyllite 30.88 42.8
SAM18-TR-31 7.0 8.0 1.0 Along dip  Quartz vein 16.56 7.3
SAM18-TR-31 8.0 9.0 1.0 Along dip  Quartz vein,Phyllite 6.88 1.4
SAM18-TR-31 1.7 2.7 1.0 Vertical  Quartz vein,Phyllite 33.94 98.1 1.0 m of 33.94 g/t Au and 98.1 g/t Ag
SAM18-TR-31 13.0 14.0 1.0 Along dip Quartz vein,Phyllite 2.20 2.4 1.0 m of 2.20 g/t Au and 2.4 g/t Ag
SAM18-TR-31 19.5 19.5 1.4 Vertical Quartz vein,Phyllite 2.82 6.6 1.4 m of 2.82 g/t Au and 6.6 g/t Ag
SAM18-TR-31 2.0 3.5 1.5 Vertical  Quartz vein,Phyllite 1.22 7.0 1.5 m of 1.22 g/t Au and 7.0 g/t Ag
SAM18-TR-32 23.1 24.6 1.5 Along dip Phyllite 2.37 3.4 1.5 m of 2.37 g/t Au and 3.4 g/t Ag
SAM18-TR-32 1.2 2.2 1.0 Vertical Quartz vein,Phyllite 8.09 14.5 1.0 m of 8.09 g/t Au and 14.5 g/t Ag
SAM18-TR-33 19.0 20.5 1.5 Along dip  Quartz vein 25.40 45.7 8.4 m of 10.60 g/t Au and 23.9 g/t Ag
SAM18-TR-33 0.0 1.2 1.2 Vertical Quartz vein,Phyllite 9.60 25.9
SAM18-TR-33 20.5 21.5 1.0 Along dip  Phyllite 3.01 8.9
SAM18-TR-33 0.0 1.4 1.4 Vertical Quartz vein,Phyllite 15.00 28.6
SAM18-TR-33 1.4 2.5 1.1 Vertical Phyllite 3.30 8.5
SAM18-TR-33 21.5 22.6 1.1 Along dip  Phyllite 4.61 12.1
SAM18-TR-33 0.0 1.1 1.1 Vertical Quartz vein,Phyllite 6.12 26.6
SAM18-TR-33 1.3 2.6 1.3 Vertical   Quartz vein,Phyllite 2.09 0.9 1.3 m of 2.09 g/t Au and 0.9 g/t Ag
SAM18-TR-33 0.0 1.1 1.1 Vertical   Saprolite 2.21 4.0 1.1 m of 2.21 g/t Au and 4.0 g/t Ag
SAM18-TR-33 2.7 3.7 1.0 Vertical   Phyllite 2.02 5.0 1.0 m of 2.02 g/t Au and 5.0 g/t Ag
EXP18-CG-01 0.0 1.2 1.2 Vertical  Phyllite 4.08 14.2 1.2 m of 4.08 g/t Au and 14.2 g/t Ag
EXP18-CG-04 1.0 2.0 1.0 Vertical Phyllite 6.45 3.7 1.0 m of 6.45 g/t Au and 3.7 g/t Ag
EXP18-SAM17-TR27 0.0 1.5 1.5 Vertical Quartz vein,Phyllite 2.01 8.5 1.5 m of 2.01 g/t Au and 8.5 g/t Ag
EXP18-SAM17-TR27 0.0 1.5 1.5 Vertical Quartz vein 13.43 21.0 1.5 m of 13.43 g/t Au and 21.0 g/t Ag
EXP18-SAM17-TR27 0.0 1.0 1.0 Vertical Quartz vein 70.91 120.0 1.0 m of 70.91 g/t Au and 120.0 g/t Ag
EXP18-SAM17-TR27 0.0 1.0 1.0 Vertical Phyllite 80.44 65.0 1.0 m of 80.44 g/t Au and 65.0 g/t Ag
EXP18-SAM17-TR27 1.5 2.9 1.4 Vertical Quartz vein 119.23 122.0 2.6 m of 90.42 g/t Au and 92.5 g/t Ag
EXP18-SAM17-TR27 2.9 4.1 1.2 Vertical Quartz vein 56.80 58.0
EXP18-LD-01 1.1 2.2 1.1 Vertical Quartz vein 2.67 5.9 1.1 m of 2.67 g/t Au and 5.9 g/t Ag
EXP18-LD-01 0.0 1.1 1.1 Vertical Quartz vein, Saprolite 2.81 3.5 1.1 m of 2.81 g/t Au and 3.5 g/t Ag
EXP18-LD-01 0.0 1.6 1.6 Vertical Quartz vein, Saprolite 16.90 37.0 1.6 m of 16.90 g/t Au and 37.0 g/t Ag
EXP18-LD-02 0.0 1.1 1.1 Along dip Quartz vein 8.05 18.3 1.1 m of 8.05 g/t Au and 18.3 g/t Ag
EXP18-LD-02 0.0 1.7 1.7 Along dip Quartz vein 32.30 48.1 1.7 m of 32.30 g/t Au and 48.1 g/t Ag
EXP18-LD-02 0.0 1.2 1.2 Vertical Quartz vein 44.50 47.4 2.4 m of 24.56 g/t Au and 30.2 g/t Ag
EXP18-LD-02 1.2 2.4 1.2 Vertical Quartz vein 4.62 12.9
EXP18-RS-01 1.3 2.8 1.5 Vertical Quartz vein,Phyllite 7.85 20.1 1.5 m of 7.85 g/t Au and 20.1 g/t Ag
EXP18-RS-01 0.0 1.0 1.0 Vertical Quartz vein,Phyllite 2.99 9.2 2.0 m of 11.19 g/t Au and 46.2 g/t Ag
EXP18-RS-01 1.0 2.0 1.0 Vertical Quartz vein,Phyllite 19.40 83.2
EXP18-RS-03 0.0 0.0 1.4 Along dip Phyllite  16.10 12.4 2.4 m of 11.25 g/t Au and 10.3 g/t Ag
EXP18-RS-03 0.0 0.0 1.0 Along dip Phyllite  4.46 7.4
EXP18-RS-03 0.0 1.6 1.6 Vertical Quartz vein 3.32 2.8 1.6 m of 3.32 g/t Au and 2.8 g/t Ag
EXP18-RS-05 0.0 1.1 1.1 Vertical  Saprolite 1.31 2.9 1.1 m of 1.31 g/t Au and 2.9 g/t Ag
Drilling
INT13-03 21.3 metres of 7.20 g/t Au and 14.2 g/t Ag
including 5.0 metres of 28.45 g/t Au and 53.7 g/t Ag
LC11-01 3.0 metres of 62.96 g/t Au and 61.7 g/t Ag
LC11-02 3.0 metres of 12.01 g/t Au and 13.1 g/t Ag
LC11-05 5.0 metres of 8.63 g/t Au and 3.5 g/t Ag
Trenching
SAM17-CATA-111 (Exploration Pit) 1.0 metre of 138.20 g/t Au and 156.0 g/t Ag vertical
SAM17-CATA-109 (Exploration Pit) 1.3 metres of 13.80 g/t Au and 12.7 g/t Ag vertical
SAM17-TR-22 1.5 metres of 10.20 g/t Au and 2.5 g/t Ag vertical
SAM17-TR-21 0.9 metre of 66.50 g/t Au and 98.8 g/t Ag vertical
SAM17-TR-27 2.0 metres of 13.80 g/t Au and 27.4 g/t Ag vertical
EXP17-SAM12-TR-11 1.0 metre of 12.58 g/t Au and 11.2 g/t Ag vertical
SAM17-TR-18 1.5 metres of 13.20 g/t Au and 6.5 g/t Ag vertical
SAM17-TR20 1.8 metres of 13.00 g/t Au and 11.1 g/t Ag vertical
SAM17-TR06 Extension 0.6 metre of 128.10 g/t Au and 94.2 g/t Ag vertical
SAM17-TR06 Extension 1.7 metres of 8.88 g/t Au and 26.4 g/t Ag vertical
SAM17-TR02 1.3 metres of 6.63 g/t Au and 6.8 g/t Ag vertical
SAM12-TR11 7.0 metres of 12.14 g/t Au and 28.4 g/t Ag along dip
including 2.0 metres of 38.09 g/t Au and 52,8 g/t Ag  
INT11-TR01 8.2 metres of 20.64 g/t Au and 26.87 g/t Ag along dip
INT11-TR03 12.8 metres of 16.05 g/t Au and 9.9 g/t Ag along dip
including 3.0 metres of 40.97 g/t Au and 23.7 g/t Ag  
LC11-TR 22 5.0 metres of 14.78 g/t Au and 21.1 g/t Ag along dip
LC11-TR 23 4.0 metres of 5.35 g/t Au and 5.1 g/t Ag along dip
LC11-TR 30 1.0 metre of 18.59 g/t Au and 4.4 g/t Ag along dip
SAM12-TR 04 1.0 metre of 87.57 g/t Au and 76.5 g/t Ag along strike
LC11-TR 21 14.0 metres of 5.89 g/t gold and 11.8 g/t Ag along dip
Rosibel Pit 1.5 metres of 29.30 g/t Au and 44.7 g/t Ag, and vertical
Rosibel Pit 2.0 metres of 139.44 g/t Au and 115 g/t Ag along strike
SAM13-TR 23 1.0 metre of 31.14 g/t Au and 318.0 g/t Ag, and vertical
SAM12-TR 02 1.5 metres of 99.27 g/t Au and 26.7 g/t Ag along dip

Historical artisanal mining within the area was generally small-scale, with only basic tools and manual labour used for excavation. Historical activities comprise several relatively narrow adits and a number of shallow pits, where only a portion of the structure was removed and processed. Sampling of select old workings indicates that significant gold values remain in situ below the disturbed area. Underground channel sampling at Mina Francisco, consisting of 35 vertical samples over a 12-metre strike length, returned an average thickness of 1.56 metres grading 13.04 g/t Au and 22.7 g/t Ag (see news release dated June 24, 2014), and included the following:

  • 2.0 metres of 33.35 g/t Au and 42.8 g/t Ag (vertical)
  • 2.0 metres of 26.45 g/t Au and 30.7 g/t Ag (vertical)
  • 2.0 metres of 23.87 g/t Au and 40.8 g/t Ag (vertical)
Prospects Location Map San Albino Murra and El Jicaro Property

In October 2012, the Company acquired the nearly 5,100-hectare El Jicaro Concession, which lies contiguous to the south of the San Albino-Murra Concession. Historical mining and production in this area, primarily at the El Golfo mine in the early 1900s, was ongoing while the San Albino mine was being developed. The El Golfo mineralization is on strike with that of Las Conchitas to the north. Preliminary sampling of veins indicates that they are similar in size and grade to Las Conchitas and San Albino. The Company recently received an environmental permit to conduct 100,000 metres of drilling and 20,000 metres of trenching.

Reconnaissance sampling results:

  • A continuous 5.5-metre underground channel sample from the partially collapsed Tunnel #2 returned 12.33 g/t Au and 25.6 g/t Ag.
  • Grab samples from the 7.5-metre-wide quartz vein in Tunnel #2 returned between 1.2 and 10.77 g/t Au.
  • Two representative grab samples from a sizable mine dump returned 10.34 g/t Au and 12.8 g/t Ag, and 3.66 g/t Au and 7.2 g/t Ag.
  • A representative grab sample from a sizable mine dump returned 26.53 g/t Au and 15.5 g/t Ag.

The historical El Golfo mine is the most advanced area. Until it was flooded in 1915 and rendered useless, the El Golfo stamp mill operated with stamps of 20 by 500 pounds, processing ore with a mill head grade of 21.56 g/t gold (0.63 ounce per ton). This information is historic and is not 43-101 compliant. It should not be relied on. Flooded underground workings later collapsed, ending all activities at the mine. A large portion of mineralized rock from these partially mined veins is still present.

A reported 16 gold-bearing veins were outlined by surface and underground workings, with a strike length of up to 150 metres and vein widths ranging from 5 centimetres to 4.5 metres. Mineralization is similar to that at the San Albino Gold Deposit. Some of the veins were developed by tunnels, but only a small portion of the mineralized veins was actually mined out. Mineralized pillars left in the mined-out areas would be recoverable in an open-pit mining scenario. Most of the veins are untouched.

The San Albino–Murra Concession hosts numerous newly discovered gold prospects bearing significant precious metal mineralization and has the potential to host resources in possible open-pit targets. These underexplored districts offer excellent exploration potential.

Sampling of Historical Mines and Workings

At a number of historical showings—Mina Estrella, Santos Garcia, Veta Danilo, Mina Chevarria, and Cata Reyna—old adits have been opened and the veins exposed, returning some excellent grades and thicknesses:

  • Mina Estrella – 5 metres of 24.75 g/t Au (including 1.1 metres of 112.09 g/t Au and 0.7 metres of 176.18 g/t Au)
  • Santos Garcia – 1 metre @grading 21.29 g/t Au and 3.8. g/t Ag
  • Veta Danilo – 3 metres @grading 13.99 g/t Au and 5.46 g/t Ag
  • Cata Reyna – 4 metres @grading 34.62 g/t Au and 17.8 g/t Ag
  • Mina Chavarria – 0.8 metre @grading 30.88 g/t Au

Initial sampling and mapping of numerous other prospects and old workings (Mina Perico 1.7 metres grading 21.61 g/t Au and Mina Milagros 1.0 metre grading 120.35 g/t Au and 36.9 g/t Ag) have established that gold mineralization is distributed in the host rock containing sheeted quartz veinlets, as well as in the main quartz veins. Quartz veinlets located in proximity to quartz veins very often contain coarse visible gold (VG) (i.e., Mina Milagros).

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