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Infill Drilling at San Albino Intersects 59.48 g/t Gold Over 2.1 Meters (estimated True Width) Five Meters from Surface

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Infill Drilling at San Albino Intersects 59.48 g/t Gold Over 2.1 Meters (estimated True Width) Five Meters from Surface

 

 

 

 

 

Mako Mining Corp. (TSX-V: MKO) 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, 6,138 m of infill grade-control drilling has been completed in 146 diamond drill holes, with assays reported for 19 of these holes in this press release. A breakdown of the results is as follows: 9 holes intersected the San Albino Zone as projected; 3 holes encountered historic workings where the San Albino Zone was projected; 1 hole intersected historic dump material in the shallow projections of the San Albino Zone; 2 holes intersected historic workings with a portion of the San Albino vein preserved; and 4 holes did not intersect significant results where the San Albino Zone was projected (these holes were testing an area outside of the currently modeled San Albino Zone and did not have a detrimental impact on the model). 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 SA19-196, which intersected 59.48 g/t Au and 41.9 g/t Ag over 2.3 m (2.1 m estimated true width) five meters from surface. SA19-196 was drilled to confirm grade in nearby reverse circulation hole SA16-RC-61, which intersected 38.38 g/t Au and 43.6 g/t Ag over 3.0 m (see press release dated October 6, 2016).

 

Additionally, one drill rig continues to be solely focused on finding 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 SA19-214 and SA19-216. SA19-214 intersected 35.60 g/t Au and 33.2 g/t Ag over 2.5 m (2.1 m estimated true width) and was approximately 55 m southwest and 105 m down dip from SA19-155 (see press release dated September 4, 2019). SA19-216 intersected 23.86 g/t Au and 17.0 g/t Ag over 3.0 m (2.5 m estimated true width) and was approximately 65 m southwest and 70 m down dip of SA19-155. Importantly, this area of near surface high-grade is still open down dip and along strike.

 

Akiba Leisman, Chief Executive Officer of Mako states “the almost two-ounce intercept, five meters from surface, encountered in hole SA19-196 bodes well for the economics of our initial 500 tonne per day project. Furthermore, the decision to dedicate one drill rig to finding the strike and dip extension of the near surface and high-grade Porcelana-style mineralization has proven to be the right call as evidenced by holes SA19-214 and SA19-216. Having spent the last two days at site and inspecting drill core containing Porcelana-style mineralization from holes yet to be released, I am confident that this area is continuous, open along strike and especially down dip, and for the most part, untouched by historical mining.”

 

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)**
SA19-195 0.0 1.0 1.0 0.00 3.3 Historic Dump*
1.0 2.5 1.5 0.25 0.9
2.5 4.0 1.5 0.13 0.5
4.0 5.0 1.0 7.36 10.5
5.0 6.1 1.1 0.33 2.9
SA19-196 5.4 5.9 0.5 72.60 42.9 San Albino Zone 59.48 g/t Au and 41.9
g/t Ag over 2.3 m
2.1
5.9 6.6 0.7 52.40 76.9
6.6 7.0 0.4
7.0 7.7 0.7 93.60 29.1
SA19-197 19.7 22.7 3.0 Void
SA19-198 18.9 20.8 1.9 Void
20.8 21.1 0.3 7.43 14.9
SA19-199 31.8 34.2 1.4 Void
34.2 35.5 1.3 1.80 2.9 San Albino
Footwall Zone
1.80 g/t Au and 2.9
g/t Ag over 1.3 m
1.0
SA19-200 No significant
intersect
SA19-201 No significant
intersect
SA19-202 No significant
intersect
SA19-203 No significant
intersect
SA19-204 21.0 21.8 0.8 31.50 35.9 San Albino Zone 12.03 g/t Au and 16.2
g/t Ag over 4.8 m
4.2
21.8 22.4 0.6 41.90 44.6
22.4 23.0 0.6 1.46 5.3
23.0 23.7 0.7 5.39 16.1
23.7 24.8 1.1 0.72 2.3
24.8 25.8 1.0 1.96 5.3
SA19-206 17.5 25.5 8.0 Void
SA19-208 17.8 19.3 1.5 7.79 19.4 San Albino Zone 7.79 g/t Au and 19.4
g/t Ag over 1.5 m
1.4
SA19-211 46.6 50.6 4.0 Void
50.6 52.0 1.4 4.18 7.0 San Albino Zone
(Partial)
4.18 g/t Au and 7.0
g/t Ag over 1.4 m
1.3
52.0 54.1 2.1 Void
SA19-212 74.7 75.5 0.8 4.03 1.6 San Albino Zone 17.81 g/t Au and 18.1
g/t Ag over 4.1 m
2.6
75.5 76.5 1.0 25.70 18.2
76.5 77.1 0.6 12.60 26.5
77.1 78.1 1.0 27.10 26.1
78.1 78.8 0.7 13.50 17.9
SA19-213 35.0 36.7 1.7 6.12 9.0 San Albino Zone 11.41 g/t Au and 7.4
g/t Ag over 3.4 m
3.3
36.7 38.3 1.7 16.70 5.8
SA19-214 55.5 56.9 1.4 53.90 46.8 San Albino Zone 35.60 g/t Au and 33.2
g/t Ag over 2.5 m
2.1
56.9 58.0 1.1 12.30 15.8
SA19-215 60.4 61.0 0.6 36.50 40.6 San Albino Zone 14.24 g/t Au and 15.5
g/t Ag over 1.6 m
1.5
61.0 62.0 1.0 0.89 0.4
SA19-216 35.2 36.2 1.0 30.80 12.2 San Albino Zone 23.86 g/t Au and 17.0
g/t Ag over 3.0 m
2.5
36.2 37.2 1.0 34.60 34.2
37.2 38.2 1.0 6.18 4.5
SA19-217 31.9 33.3 1.4 8.10 6.5 San Albino Zone 17.1 g/t Au and 13.5
g/t Ag over 4.1 m
3.5
33.3 34.0 0.7 23.90 19.5
34.0 34.7 0.7 57.10 43.5
34.7 36.0 1.3 1.60 1.7

 

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. * 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 October 17, 2019

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