TSX-V: MKO; OTCQX: MAKOF
TORONTO, Sept. 9, 2020 /CNW/ - Mako Mining
Corp. (TSX-V: MKO; OTCQX: MAKOF) ("Mako" or the "Company")
is pleased to report additional results from a reconnaissance
exploration program on its recently acquired Potrerillos
exploration and exploitation concession ("Potrerillos Concession")
(see press release dated December 17,
2019) as well as the area directly adjacent to the northeast
on the San Albino-Murra exploration and exploitation concession
("San-Albino Murra Concession").
The Potrerillos Concession comprises 12 square kilometers ("km")
of sub surface mineral rights and is contiguous to and along strike
from Mako's San Albino gold project in Nueva Segovia, Nicaragua ("San Albino"). Based on
available historical data, as well as reported results from the
previous owner, gold mineralization on the Potrerillos Concession
occurs within mineralized, shallow dipping quartz veins, that are
on strike with and very similar to the veins at San Albino.
The Potrerillos Concession is part of the numerous historical
mines and workings existing within the Corona de Oro Gold Belt,
which is approximately 3 km wide by 23 km long and spans the
entirety of the Company's land package (see attached maps).
The Company intends to complete a soil survey focusing on
generating additional exploration targets, followed by trenching
and comprehensive structural/geological mapping, which are
anticipated to be drilled tested, in due course.
Highlights
- The area covered in the ongoing reconnaissance exploration
program is now approximately 25 square kilometers ("sq. km") of the
Company's 188 sq. km district-scale land package (see attached
maps).
- Approximately 6.7 km of potential strike length has been
identified along a northeast striking mineralized trend that runs
for approximately 9.5 km between San Albino and several prospects
along the Potrerillos and San Albino-Murra Concessions.
- Three additional prospects were identified, mapped and
sampled.
-
- Potrerillo NE (Potrerillos Concession)
- Guapinolito (San Albino-Murra Concession)
- Mina Bonanza Norte (San Albino-Murra Concession)
- In total 19 prospects have been identified within the 25 sq. km
area covered in the ongoing reconnaissance exploration program that
includes:
-
- 180 hillside cuts
- 56 historical adits (two opened)
- 21 shafts
- 11 small pits
Akiba Leisman, Chief Executive
Officer of Mako states that, "as we near completion of our 500
tonnes per day processing plant and continue mining high-grade
mineralization at San Albino, the exploration work being carried
out at Potrerillos, Las Conchitas and throughout our 188 sq. km
land package becomes that much more important, especially now that
the we are permitted to expand our operations up to 1,000 tonnes
per day. It's also worth reiterating that once San Albino is
up and running, we expect to have financial and operational
resources necessary to more aggressively focus on exploration and
expansion."
Potrerillo NE (Potrerillos Concession)
The Potrerillo NE prospect appears to be developed on the same
structure from the Tambo to Los Potrerillos prospects. Six
collapsed tunnels have been identified in the area. A total
of eight float samples were collected in front of those tunnels and
dumps. The best assays returned from those samples were 28.6
g/t Au and 76.0 g/t Ag and 12.50 g/t Au and 43.0 g/t Ag.
Guapinolito (San Albino-Murra Concession)
Guapinolito is situated in the northeast corner of the
Potrerillos Concession and extends into the San Albino-Murra
Concession. This prospect appears as a sub parallel structure
to the one which extends from the Tambo to Los Potrerillos
prospects. Several dumps were sampled with the best assay
returning 8.94 g/t Au and 236.0 g/t Ag.
Mina Bonanza Norte (San Albino-Murra Concession)
The Mina Bonanza Norte prospect is situated within the San
Albino-Murra Concession and appears to be the northeast extension
of the Minas Viejas and Mina
Milagros structure, where the best assay result returned
17.50 g/t Au and 4.0 g/t Ag from sampling of a collapsed hillside
cut. A total of nine samples were collected at Mina Bonanza
Norte prospect and additional results are pending.
The Company also continues prospecting and mapping within
previously identified prospects (see press release dated
August 10, 2020) with a goal of
identifying as many new locations of historical surface and
underground workings, which will assist in a detailed
interpretation of the gold mineralization within the corridor at
both the Potrerillos and San Albino-Murra concessions (see attached
maps).
At the Los Potrerillos prospect nine additional hillside cuts
were tested with the best assay results returning 28.10 g/t Au and
228.0 g/t Ag and 16.2 g/t Au and 72.0 g/t Ag. At the Los
Molinetes prospect an outcrop of quartz vein grading 16.70 g/t Au
and 44.0 g/t Ag over 1.0 meter was assayed.
For full sample assay results, see the attached map labeled
"Prospects Location and Assay Results."
Sampling, Assaying, QA/QC and Data Verification
Samples were kept in a secured logging and storage facility
until such time that they were delivered to the Managua facilities of Bureau Veritas, an
independent assay lab, 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.
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
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 Mako's reconnaissance exploration
program on its recently acquired Potrerillos Concession, including
the various prospects on the Potrerillos Concession and
in area directly adjacent to the northeast on the San Albino-Murra
Concession; and the Company's intention to complete a soil survey
focusing on generating additional exploration targets, followed by
trenching and comprehensive structural/geological mapping, which
are anticipated to be drilled tested, in due course; ; ;. 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 find positive results from its reconnaissance exploration
program and proposed drilling on the concessions; that exploration
and assay results do not confirm continuity of mineralization as
expected; political risks and uncertainties involving the Company's
exploration properties; the inherent uncertainty of cost estimates
and the potential for unexpected costs and expense; commodity price
fluctuations 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 the exploration of the
Potrerillos Concession and the potential for expansion of the
mineralization at San Albino, 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.
