TSX-V: MKO
TORONTO, July 25, 2019 /CNW/ - Mako Mining
Corp. (TSX-V: MKO) ("Mako" or the
"Company") is pleased to announce positive drill results
from the Las Dolores Zone within the Las Conchitas area of its
wholly-owned San Albino-Murra property located in Nueva Segovia, Nicaragua.
The goal of the 2019 drill program at the Las Dolores Zone was
to confirm and extend the near surface, high-grade mineralized
shoot previously encountered in trenches and drill holes. The
Company has completed eight shallow drill holes totaling 369.75
meters ("m") within the Las Dolores Zone in 2019 (see the
attached map). The Las Dolores Zone is located approximately
250 m southeast from the Mango Zone,
where the Company intersected the highest gold grade drilled to
date of 376.49 g/t Au over 1 m (see
press release dated May 6, 2019).
Specifically, the 2019 drilling at the Las Dolores Zone was
focused on testing the mineralization encountered in hole LD18-43,
which intersected 16.48 g/t Au and 27.7 g/t Ag over 6.1 m in the widest high-grade gold
mineralization drilled to date within the entire Las Conchitas area
(see press release dated November 28,
2018). The five holes reported in the table below
successfully tested the strike and dip extension of the
mineralization from hole LD18-43, including 9.00 g/t Au and 19.3
g/t Ag over 4.1 m in hole LC19-85
(see table below and attached cross section).
Located only 2.5 kilometers south of the Company's San Albino
gold project and bordering the El Jicaro Concession to the south
(see attached map), the Las Dolores Zone hosts near surface
high-grade mineralization in a geological setting similar to that
of the San Albino Gold Deposit. The Las Dolores Zone remains
open along strike and down dip.
2019 Diamond Drill Results in the Las Dolores Zone
|
|
|
|
|
|
|
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)*
|
Au
(g/t)
|
Ag
(g/t)
|
Interval
Averages
|
|
LC19-81
|
27.10
|
28.50
|
1.40
|
8.93
|
25.1
|
4.45 g/t Au and
11.6 g/t Ag over 5.70 m
|
|
28.50
|
30.00
|
1.50
|
0.17
|
2.7
|
|
30.00
|
31.50
|
1.50
|
0.14
|
3.2
|
|
31.50
|
32.80
|
1.30
|
9.52
|
16.9
|
|
LC19-83
|
26.00
|
27.00
|
1.00
|
1.77
|
4.3
|
1.77 g/t Au and
4.3 g/t Ag over 1.00 m
|
|
LC19-85
|
26.65
|
27.20
|
0.55
|
12.44
|
20.8
|
9.00 g/t Au and
19.3 g/t Ag over 4.10 m; including 19.29 g/t
Au and 34.8 g/t Ag over 1.80 m
|
|
27.20
|
28.45
|
1.25
|
22.30
|
41.0
|
|
28.45
|
29.50
|
1.05
|
0.68
|
3.8
|
|
29.50
|
30.15
|
0.65
|
1.24
|
1.2
|
|
30.15
|
30.75
|
0.60
|
1.11
|
2.6
|
|
LC19-86
|
12.00
|
12.50
|
0.50
|
15.23
|
16.7
|
7.42 g/t Au and
15.6 g/t Ag over 2.85 m
|
|
12.50
|
13.50
|
1.00
|
0.85
|
5.0
|
|
13.50
|
14.00
|
0.50
|
9.40
|
28.6
|
|
14.00
|
14.85
|
0.85
|
9.40
|
19.7
|
|
LC19-87
|
50.50
|
51.50
|
1.00
|
2.90
|
2.9
|
4.42 g/t Au and
3.5 g/t Ag over 2.00 m
|
|
51.50
|
52.50
|
1.00
|
5.93
|
4.0
|
|
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. Lengths are reported as
core lengths. Drill holes LC19-82, LC19-84 and LC19-88 intercepted
faults at the projected depth of the mineralized zone and returned
gold values below the cut-off grade. *True widths vary depending on
drill hole dip, the veins are shallow dipping and typical true
widths are 85-100% of the downhole width.
|
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, 30 gram 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 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.
On behalf of the Board,
"Akiba Leisman"
Interim CEO
About Mako
Mako Mining Corp. is a publicly listed gold mining, development
and exploration firm. It operates the producing La Trinidad open-pit, heap leach gold mine in
Sinaloa State, Mexico and 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 both Mexico and Nicaragua.
Currently, Mako is exploring for gold and silver mineralization
on more than 60,200 hectares (602 km2) in Sinaloa State,
Mexico and on 13,771 hectares (138
km2) at the San Albino-Murra and El Jicaro properties,
both in Nueva Segovia, Nicaragua. The Corona de Oro Gold Belt,
approximately 3 kilometers wide by 23 kilometers long, contains
hundreds of historical mines and workings and spans the entirety of
the Company's Nicaragua land
package.
Forward-Looking Statements: Some of the
statements contained herein may be considered "forward-looking
information" within the meaning of applicable securities
laws. Forward-looking information is based on certain
expectations and assumptions, including that the results pending
from the remaining nine drill holes at the Mango zone will support
strike and dip continuity of gold mineralization; that the
Company's exploration programs will be successfully completed; that
although the Company's production decision at its San Albino
project is not based on a technical study supporting mineral
reserves, and therefore not based on demonstrated economic
viability, management currently believes the project is on track to
achieve its first gold pour by the late summer of 2020; that the
Company will be successful in its proposed financing plans
necessary for the construction at the San Albino project, including
by way of a proposed back-stopped, exempt rights offering; and that
upfront capital expenditures required for the construction of San
Albino of approximately US$20 million
will be sufficient. Such forward-looking information is subject to
a variety of risks and uncertainties which could cause actual
events or results to differ materially from those reflected in the
forward-looking information, including, without limitation, the
risks that additional satisfactory exploration results at the Mango
zone will not be obtained; that the PEA is preliminary in nature
and there is no certainty that the PEA will be realized; the risk
of economic and/or technical failure at the San Albino project
associated with basing a production decision on the PEA without
demonstrated economic and technical viability; that exploration
results will not translate into the discovery of an economically
viable deposit; risks and uncertainties relating to political risks
involving the Company's exploration and development of mineral
properties interests; the inherent uncertainty of cost estimates
and the potential for unexpected costs and expense; commodity price
fluctuations, the inability or failure to obtain adequate financing
on a timely basis and other risks and uncertainties. Such
information contained herein represents management's best judgment
as of the date hereof, based on information currently available and
is included for the purposes of providing investors with the
Company's plans and expectations at its San Albino project and the
Las Conchitas area, and may not be appropriate for other
purposes.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Mako Mining Corp.
