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Infill Drilling at San Albino Expands High-Grade Zone, Highlighted by Intercept of 50.78 g/t Gold Over 5.1 Meters, Including 173.3 g/t Gold Over 1.0 Meter (Estimated True Widths)

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Infill Drilling at San Albino Expands High-Grade Zone, Highlighted by Intercept of 50.78 g/t Gold Over 5.1 Meters, Including 173.3 g/t Gold Over 1.0 Meter (Estimated True Widths)

 

 

 

 

 

Mako Mining Corp. (TSX-VMKO) is pleased to report further positive results from the infill drilling program at its wholly-owned San Albino gold project located in Nueva Segovia, Nicaragua.

 

To date, 5,072 m of infill grade-control drilling has been completed in 115 diamond drill holes, with assays reported for 39 of these holes.  A breakdown of the results is as follows: 21 drill holes intersected the San Albino Zone as projected; 8 drill holes encountered historic workings where the San Albino Zone was projected; 8 drill holes intersected historic dump material in the shallow projections of the San Albino Zone; and 2 holes 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 leading to highly predicable results.

 

One of the main objectives of this program is to find the strike and dip extension of the near surface and high-grade Porcelana-style mineralization encountered in hole SA19-155 of 60.72 g/t Au and 66.4 g/t Ag over 3.1 m (estimated true width) (see press release dated September 4, 2019).  After reallocating one drill rig for this purpose, Mako is pleased to report initial results where hole SA19-207 intersected 50.78 g/t Au and 13.0 g/t Ag over 5.3 m (5.1 m estimated true width), including 173.3 g/t Au and 26.0 g/t Ag over 1.1 m (1.0 m estimated true width).  This intercept was 18 m below surface and within the open pit mine plan for San Albino.

 

SA19-207 was 35 m along strike from SA19-155.  The texture and visual appearance of SA19-207 is similar to  SA19-155, and confirms geological continuity of high-grade mineralization between the two holes, which bodes well as the Company finalizes the initial mine plan for San Albino later this year.  Importantly, this area of near surface high-grade is still open along strike.

 

Furthermore, hole SA19-194 intersected 28.36 g/t Au and 44.40 g/t Ag over 5.4 m (4.8 m estimated true width).  This intercept was approximately 11 m below surface and within the initial open pit mine plan for San Albino.

 

Akiba Leisman, Chief Executive Officer of Mako states “we are more than 70% complete with the infill drill program at San Albino and the results have come in beyond our expectations.  Specifically, the wide, multi-ounce intercepts within 20 meters from surface encountered in holes SA19-155 and SA19-207 are extraordinary.  We are evaluating the feasibility of bringing these ounces into our mine plan earlier while we wait for additional assay results.  Few open pit mines exist in the world today with grades such as these, and we are excited to see further results as we continue advancing the project into production for late summer next year.”

 

2019 Infill Drilling Program Assay Results

 

Drill Hole From
(m)
To
(m)
Width
(m)
Au
(g/t)
Ag
(g/t)
Zone /
Comments
Interval Averages True
Width
(m)***
SA19-160 0.50 1.50 1.00 3.52* 10.9 Historic Dump**
1.50 2.50 1.00 2.30* 3.5
2.50 3.90 1.40 3.79* 8.4
3.90 5.40 1.50 Void
SA19-161 0.00 1.50 1.50 0.41 1.1 Historic Dump**
1.50 3.00 1.50 1.09 3.5
3.00 4.50 1.50 0.78 2.4
4.50 6.00 1.50 0.47 1.0
6.00 7.50 1.50 1.99 2.0
7.50 8.50 1.00 3.15 8.2
SA19-162 24.60 27.40 2.80 Void
SA19-163 0.00 1.00 1.00 2.73 45.9 Historic Dump**
1.00 2.00 1.00 3.83 95.0
2.00 3.50 1.50 1.13 31.4
3.50 4.80 1.30 0.93 41.8
17.00 18.00 1.00 7.19* 31.7 San Albino Zone 7.19 g/t Au and 31.7
g/t Ag over 1 m
0.9
SA19-164 0.00 1.00 1.00 2.55 8.0 Historic Dump**
1.00 2.00 1.00 1.97 5.9
2.00 3.00 1.00 2.18 4.1
3.00 4.00 1.00 0.94 3.1
4.00 5.00 1.00 0.90 3.2
12.00 16.00 4.00 Void
SA19-165 0.00 1.00 1.00 2.99 9.1 Historic Dump**
1.00 2.00 1.00 2.42 16.9
2.00 3.00 1.00 2.24 3.5
28.50 29.50 1.00 5.70* 21.4 San Albino Zone 4.34 g/t Au and 35.3
g/t Ag over 3 m
2.4
29.50 30.50 1.00 5.13* 27.3
30.50 31.50 1.00 2.20* 57.2
SA19-166 0.00 1.00 1.00 2.65 6.1 Historic Dump**
1.00 2.00 1.00 2.75 12.1
2.00 3.00 1.00 4.41 9.1
3.00 4.00 1.00 1.02 9.7
4.00 5.00 1.00 2.43 12.5
5.00 6.00 1.00 4.69 20.4
6.00 7.50 1.50 4.17* 10.3 San Albino Zone 10.66 g/t Au and 25.0
g/t Ag over 2.5 m
 
7.50 8.50 1.00 22.48* 52.1 2.3
SA19-167 0.00 1.00 1.00 3.68 5.8 Historic Dump**
1.00 2.00 1.00 4.40 15.3
2.00 3.00 1.00 19.50 46.2
3.00 4.10 1.10 2.23* 15.9
SA19-168 30.10 30.60 0.50 16.60* 43.9 San Albino Zone 16.62 g/t Au and 22.0
g/t Ag over 0.5 m
0.5
SA19-169 22.95 25.15 2.20 Void
SA19-170 18.50 19.50 1.00 7.84 * 37.1 San Albino Zone 7.84 g/t Au and 37.1
g/t Ag over 1 m
0.9
SA19-171 0.00 1.00 1.00 2.23 10.4 Historic Dump**
15.20 16.20 1.00 5.13 8.3 San Albino Zone 6.38 g/t Au and 12.5
g/t Ag over 3 m
3.0
16.20 17.20 1.00 10.50 19.9
17.20 18.20 1.00 3.51 9.3
SA19-172 0.00 1.00 1.00 3.10 8.5 Historic Dump**
1.00 2.50 1.50 3.85 9.5
2.50 4.00 1.50 6.86 16.5
4.00 5.50 1.50 1.19 3.5
15.30 16.30 1.00 6.04 16.1 San Albino Zone 6.04 g/t Au and 16.1
g/t Ag over 1 m
0.9
SA19-173 0.00 1.00 1.00 3.01 9.1 Historic Dump**
1.00 2.50 1.50 2.96 10.2
2.50 4.00 1.50 8.95 18.4
4.00 5.50 1.50 1.64 6.2
8.50 9.50 1.00 1.54 2.8
10.60 15.00 4.40 Void
SA19-174 0.00 1.50 1.50 6.84 62.0 Historic Dump**
1.50 3.00 1.50 21.90 59.9
SA19-175 0.00 1.00 1.00 14.90 17.6 Historic Dump**
1.00 8.00 7.00 Void
SA19-176 0.00 0.80 0.80 10.80 30.2 Historic Dump**
0.80 2.30 1.50 5.77 8.6
SA19-177 0.00 1.00 1.00 1.94 2.7 Historic Dump**
57.20 58.20 1.00 1.16 4.6 Naranjo zone 1.16 g/t Au and 4.6
g/t Ag over 1 m
0.9
SA19-178 24.80 25.80 1.00 34.93* 108.0 San Albino Zone 21.84 g/t Au and 66.8
g/t Ag over 2 m
1.9
25.80 26.80 1.00 8.74* 25.6
SA19-179 20.20 24.90 4.70 Void
SA19-180 20.00 21.00 1.00 1.38 3.5 San Albino Zone  1.38 g/t Au and 3.5
g/t Ag over 1 m
1
SA19-181 28.00 29.30 1.30 0.14 2.2 San Albino Zone 3.3
29.30 30.30 1.00 0.32 6.2
30.30 31.30 1.00 0.42 3.3
SA19-182 12.50 13.50 1.00 17.80 17.3 San Albino Zone 17.80 g/t Au and 17.3
g/t Ag over 1 m
0.9
SA19-183 5.50 7.00 1.50 0.59 1.4 No Significant intersect
SA19-184 0.00 1.00 1.00 1.48 12.4 Historic Dump**
1.00 2.50 1.50 1.78 11.3
9.70 11.00 1.30 18.40 33.6 San Albino Zone 23.92 g/t Au and 33.6
g/t Ag over 1.3
1.3
SA19-185 16.50 17.70 1.20 1.98 4.0 San Albino Zone 10.44 g/t Au and 37.6
g/t Ag over 2.2m
1.9
17.70 18.70 1.00 20.60 77.9
SA19-186 12.10 12.70 0.60 18.80 35.0 San Albino Zone 10.37 g/t Au and 19.3
g/t Ag over 1.5m
1.5
12.70 13.60 0.90 4.76 8.9
SA19-187 6.00 7.00 1.00 1.90 4.9 San Albino Zone 1.90 g/t Au and 4.9
g/t Ag over 1 m
0.9
SA19-188 3.90 5.90 2.00 Void
SA19-189 0.00 1.00 1.00 1.29 9.2 Historic Dump**
1.00 2.00 1.00 0.69 2.1
2.00 3.00 1.00 2.81 4.5
3.00 4.20 1.20 5.81 4.3
4.20 6.00 1.80 2.63 5.8
SA19-190 0.00 1.50 1.50 2.16 22.7 Historic Dump**
1.50 3.00 1.50 4.12 4.5
SA19-191 0.00 1.20 1.20 3.22 5.50 Historic Dump**
1.20 2.50 1.30 3.24 10.8
2.50 3.50 1.00 3.65 24.0
4.70 6.00 1.30 4.90 11.0
6.00 7.25 1.25 11.30 8.7
7.25 11.00 3.75 Void
SA19-192 1.50 3.00 1.50 1.58 2.7 Historic Dump**
3.00 4.60 1.60 3.97 7.7
8.60 9.90 1.30 5.92 9.2
9.90 10.35 0.45 130.00 101.0 San Albino Zone 73.15 g/t Au and 69.1
g/t Ag over 1.1 m
1.1
10.35 11.00 0.65 33.80 47.0
SA19-193 1.00 2.00 1.00 2.12 9.7 Historic Dump**
2.00 3.50 1.50 2.03 5.1
3.50 5.00 1.50 3.30 7.5
5.00 6.00 1.00 9.45 13.5
6.00 7.50 1.50 2.20 4.5
7.50 8.80 1.30 9.00 25.6
8.80 10.00 1.20 7.07 27.8
SA19-194 11.10 12.25 1.15 1.14 4.0 San Albino Zone 28.36 g/t Au and 44.4
g/t Ag over 5.4 m
4.8
12.25 12.90 0.65 15.30 28.0
12.90 13.75 0.85 Void

(internal dilution)

13.75 14.50 0.75 22.50 53.0 San Albino Zone
14.50 14.90 0.40 60.60 67.0
14.90 15.45 0.55 138.90 189.0
15.45 16.50 1.05 23.20 44.0
SA19-195 Results Pending
SA19-196 Results Pending 
SA19-197 Results Pending
SA19-198 Results Pending
SA19-199 Results Pending
SA19-200 Results Pending
SA19-201 Results Pending
SA19-202 Results Pending
SA19-203 Results Pending
SA19-204 Results Pending
SA19-205 40.90 42.00 1.10 11 15.5 San Albino Zone 16.16 g/t Au and 10.8
g/t Ag over 4.6 m
2.3
42.00 43.15 1.15 46.6 22.6
43.15 44.15 1.00 4.30 5.0
44.15 45.45 1.30 2.73 0.8
45.45 46.95 1.50 Void    
46.95 47.45 0.50 1.60 3.0 San Albino Zone 1.43 g/t Au and 2.7
g/t Ag over 1.5 m
0.75
47.45 48.45 1.00 1.35 2.5
SA19-206 Results Pending 
SA19-207 18.00 19.10 1.10 5.17 5.3 San Albino Zone 50.78 g/t Au and 13.0
g/t Ag over 5.3 m
5.1
19.10 20.60 1.50 173.3 26.0
20.60 21.80 1.20 1.34 14.5
21.80 23.30 1.50 1.25 4.3
SA19-208 Results Pending 
SA19-209 33.50 34.50 1.00 1.64 5.5 San Albino Zone 6.00 g/t Au and 6.9
g/t Ag over 7.0 m
6.0
34.50 35.50 1.00 14.90 11.2
35.50 36.80 1.30 6.70 17.4
36.80 37.90 1.10 3.70 2.7
37.90 39.00 1.10 9.27 3.3
39.00 40.50 1.50 1.67 1.7
SA19-210 36.00 37.50 1.50 7.19 2.6 San Albino Zone 8.60 g/t Au and 10.4
g/t Ag over 8.1 m
7.7
37.50 38.70 1.20 1.80 3.9
38.70 40.00 1.30 24.00 35.2
40.00 41.00 1.00 12.10 5.9
41.00 42.00 1.00 3.82 3.0
42.00 43.00 1.00 1.66 3.4
43.00 44.10 1.10 7.21 15.7
SA19-211 Results Pending
SA19-212 Results Pending
SA19-213 Results Pending

 

 

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 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.

 

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.

 

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.

 

Posted September 27, 2019

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