TSX-V: MKO; OTCQX: MAKOF
VANCOUVER, BC,
Aug. 24, 2020 /CNW/ - Mako Mining
Corp. (TSXV: MKO); (OTCQX: MAKOF) ("Mako" or the "Company") is
pleased to report that the Ministry of Environmental and Natural
Resources ("MARENA") has amended the environmental permit granted
to the Company in 2017 (see press release dated September 12, 2017) to allow for the processing
of up to 1,000 tonnes per day ("tpd") at the San Albino gold
project in Nueva Segovia,
Nicaragua ("San Albino").
The amendment is initially effective for a period of five years
and can be renewed indefinitely so long as the Company complies
with the conditions set forth by MARENA. All other provisions
contained in the environmental permit granted in 2017 remain in
force and are fully applicable apart from the increased throughput
from 500tpd to 1,000tpd.
Akiba Leisman, Chief Executive
Officer of Mako states, "I would personally like to thank MARENA on
behalf of our entire team for expeditiously amending our existing
permit to accommodate a higher throughput. This is yet another
example of Nicaragua's continued
support of the mining industry. Since taking over as permanent CEO
in August 2019, I challenged our
operating team to design a processing plant capable of expanding
from 500tpd to 1,000tpd with minor modifications, to amend the
existing environmental permit to allow for the increase in
throughput and to delineate a resource amenable to open pit mining
at Las Conchitas. Two of the three goals are now complete. Drilling
at Las Conchitas is ongoing with results expected to be released
over the next few weeks."
On behalf of the Board,
Akiba
Leisman
Chief Executive Officer
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.
Forward-Looking Information: Some of the
statements contained herein may be considered "forward-looking
information" within the meaning of applicable securities laws. The
forward-looking information contained herein is based on the
Company's plans and certain expectations and assumptions, including
obtaining positive results from ongoing drilling work at Las
Conchitas; Mako being able to comply with the terms and conditions
set forth by MARENA and renew the initial term of the environmental
permit, as necessary; that the government will continue to support
the mining industry in Nicaragua.
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, that the Company does
not continue to obtain positive results from drilling program at
Las Conchitas; that the Company is unable to comply with the terms
and conditions set out by MARENA in order to maintain its
environmental permit; adverse governmental and political changes in
Nicaragua and other risks and
uncertainties as disclosed in the Company's public disclosure
filings on SEDAR at www.sedar.com. 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 regarding San Albino and the Las Conchitas area, and
may not be appropriate for other purposes. Mako does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
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.