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San Albino Deposit

Key Facts

Location Nueva Segovia, Nicaragua
Mine Type Open Pit and under-ground potential
Metals mined Au, Ag
Employees/Contractors 265/197
Deposit Type Orogenic – High grade Au, shallow dipping 1-2m wide stacked veins 
Ownership 100%
Resources and Reserves  

Outlook

San Albino, Nicaragua’s newest high-grade gold mine, is a high-margin open pit operation. Based on a measured and indicated pit resource grade of 9.54 g/t Au, the project is one of the highest-grade surface mines in the world.

Our strategy is to consolidate a low-cost, cornerstone operation at San Albino– an area that only represents ~2% of our landholdings

Cash flow from San Albino is funding exploration on the district-scale Nicaraguan land package of ~188 sq. km

San Albino Drill Hole Database

Operating Data

    Q1 2022 Q2 2022
Tonnes Mined Tonnes 49,780 47,220
Strip Ratio
*Strip ratio includes pre-striping and accelerated waste development prior to the start of rainy season in May.
Waste/tonnes 30.5 26.5
Tonnes Milled Tonnes 46,869 49,332
Tonnes per day Tpd 596 (87% availability) 589 (92% availability)
Au Grade Gr/Tonne 7.2 7.30
Au Recovery % 85.6% 74.5%
Gold Production Oz. 9,280 8,630
Total Cash Costs US$/Oz. Au sold 862 TBD
All sustaining cash cost (“AISC”) US$/Oz. Au sold 1,104 TBD

Geology and Mineralization

Mineralization at San Albino appears consistent with the orogenic gold deposit model: this deposit type is ultimately traced back to orogenesis (collisional plate tectonics). Orogenic deposits tend to occur on a district scale and are one of the largest deposit types in terms of gold endowment, tend to be high-grade and typically occur in clusters.

The gold-bearing veins at the project formed over a period of deformation, with alteration indicating a low degree of metamorphism. This metamorphism, together with thrust fault control suggests a high-level orogenic deposit at San Albino, analogous to Kinross’ (TSX: KGC; NYSE: K) Paracatu gold mine in Brazil.

Gold at San Albino is hosted in west-dipping quartz veins within shear (higher-strain) zones. The shear zones are typically stacked in a subparallel fashion, creating vein systems.

Exploration

  • In 2022, Mako is planning to drill almost 35,000 metres at the San Albino near-mine targets (Arras, SW Pit, San Albino North).
  • History & Milestones

    Reserves & Resources

    NI 43-101 Technical Report

    Photo Gallery

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