TSX-V: MKO; OTCQX: MAKOF
VANCOUVER, BC, Oct. 22, 2020 /CNW/ - Mako Mining
Corp. (TSXV: MKO) (OTCQX: MAKOF) ("Mako" or the "Company")
is pleased to report positive drill results from the Bayacun Zone
within the Las Conchitas area of its wholly-owned San Albino-Murra
property located in Nueva Segovia,
Nicaragua. The Las Conchitas area is located approximately
2.5 kilometers south of the fully permitted San Albino gold project
("San Albino") currently under construction.
The goal of the 2020 drill program at Las Conchitas is to focus
on the most promising zones of near surface, shallow dipping,
high-grade gold mineralization to delineate a maiden resource
estimate. Since 2019, the Company has completed 111 shallow
diamond drill holes totaling 9,038 meters ("m") within the Bayacun
Zone, which is among the most promising zones within the Las
Conchitas area. A total of 19,861
m within 248 holes have been drilled at Las Conchitas since
the start of the 2019-20 drilling campaign.
This press release includes results for 29 holes (see table and
attached map), which were designed to further test the strike and
dip extension and to improve the understanding of structural
controls at the Bayacun Zone.
Highlights
- Confirmed near surface mineralization approximately 45 meters
up-dip from previous high-grade hole
-
- 40.17 g/t Au and 26.8 g/t Ag over 2.0
m (1.95 m true width) at
2.5 m from surface in hole
LC20-238
- Intersected high-grade mineralization at significantly wider
intervals than the average reported to date at Las Conchitas
-
- 14.42 g/t Au and 20.1 g/t Ag over 5.2
m (4.4 m true width) in hole
LC20-292
- 22.30 g/t Au and 20.0 g/t Ag over 3.1
m (3.0 m true width) in hole
LC20-297
- Confirmed extension of the Bayacun Zone to 220 m strike by 230
m dip and remains open along strike and downdip
Akiba Leisman, Chief Executive
Officer of Mako states that, "the ongoing drilling campaign at Las
Conchitas continues to yield impressive results, despite only
having one drill rig turning. To date, 220 m of strike and 230
m of dip of the Bayacun Zone have been identified, which are
similar dimensions to the main open pit at San Albino.
Importantly, both remain open along strike and downdip, and the
Company remains committed to accelerating drilling of the Bayacun
Zone and the multiple targets within the Las Conchitas area once
San Albino is commissioned."
Specific comments on significant drill holes reported in this
press release are as follows:
LC20-238 intersected a high-grade mineralized zone of 40.17 g/t
Au and 26.8 g/t Ag over 2.0 m
(1.95 m true width) 2.5 m from the surface. The high-grade zone
is located approximately 45 m up-dip
from hole LC19-104, which intersected 42.79 g/t Au and 59.9 g/t Ag
over 1.7 m (see press release dated
September 10, 2019 and attached cross
section).
LC20-283 intersected 7.90 g/t Au and 11.4 g/t Ag over
3.2 m (2.6
m true width) at 35.5 m from
surface. This drill hole was designed to test the strike
extension of the Bayacun Zone encountered in previous drilling,
specifically LC20-276 which intersected a mineralized zone of 14.68
g/t Au and 39.1 g/t Ag over 2.65 m
(see press release dated August 31,
2020). Additionally, LC20-283 intersected an upper
mineralized zone approximately 10 m
wide (from 19.9 m to 30.0 m in drill core length) comprised of three
mineralized zones separated by 2 m
voids (see table and attached long section).
LC20-292 intersected a wide mineralized zone of 14.42 g/t Au and
20.1 g/t Ag over 5.2 m (4.4 m true width) at 18.3
m from surface that is interpreted as an up-dip extension of
mineralization encountered in holes LC20-277 and LC20-278, which
intersected 22.26 g/t Au and 44.6 g/t Ag over 4.5 m and 11.71 g/t Au and 25.5 g/t Ag over
5.5 m, respectively (see press
release dated August 31, 2020).
LC20-292 also intersected an upper zone of 7.23 g/t Au and 12.6 g/t
Ag over 2.7 m (2.6 m true width) at 9.3 meters from surface.
LC20-297 intersected 22.30 g/t Au and 20.0 g/t Ag over
3.1 m at 48.0
m from surface. This hole confirmed the northeastward
continuity of the Bayacun Zone and is currently the
northeastern-most intersection of the Bayacun Zone drilled to date
(see attached map).
Multiple pending holes in this press release have visible
mineralization and will be released when assays are received.
Bayacun Zone Assay Results Reported In This Press
Release
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)*
|
Au
(g/t)
|
Ag
(g/t)
|
Interval
Averages
|
True Width
(m)***
|
|
LC20-238
|
0.00
|
1.50
|
1.50
|
2.80
|
3.8
|
Historical
dump****
|
|
|
1.50
|
2.50
|
1.00
|
0.31
|
1.0
|
|
2.50
|
3.50
|
1.00
|
4.53
|
10.0
|
40.17 g/t Au and 26.8
g/t Ag over 2.00 m
|
1.95
|
|
3.50
|
4.50
|
1.00
|
75.80
|
43.5
|
|
LC20-263
|
3.70
|
4.70
|
1.00
|
3.12
|
8.2
|
4.14 g/t Au and 14.6
g/t Ag over 5.00 m
|
3.80
|
|
4.70
|
5.70
|
1.00
|
8.80
|
14.9
|
|
5.70
|
6.70
|
1.00
|
4.79
|
16.2
|
|
6.70
|
7.70
|
1.00
|
2.30
|
15.3
|
|
7.70
|
8.70
|
1.00
|
1.69
|
18.3
|
|
LC20-264
|
13.00
|
14.00
|
1.00
|
6.81
|
2.4
|
6.81 g/t Au and 2.4
g/t Ag over 1.00 m
|
0.90
|
|
LC20-266 to
267
|
|
|
|
|
|
Results
pending
|
|
|
LC20-271
|
|
|
|
|
|
No significant
results
|
|
|
LC20-274
|
|
|
|
|
|
No significant
results
|
|
|
LC20-275
|
|
|
|
|
|
Results
pending
|
|
|
LC20-281
|
5.50
|
6.00
|
0.50
|
1.80**
|
7.6
|
1.80 g/t Au and 7.6
g/t Ag over 0.50 m
|
0.40
|
|
LC20-282
|
6.00
|
7.00
|
1.00
|
1.81
|
4.8
|
1.81 g/t Au and 4.8
g/t Ag over 1.00 m
|
1.00
|
|
14.00
|
15.00
|
1.00
|
4.48
|
7.7
|
3.02 g/t Au and 5.2
g/t Ag over 2.00 m
|
2.00
|
|
15.00
|
16.00
|
1.00
|
1.57
|
2.7
|
|
LC20-283
|
19.90
|
21.00
|
1.10
|
11.65**
|
54.3
|
11.65 g/t Au and 54.3
g/t Ag over 1.10 m
|
0.80
|
|
21.00
|
23.00
|
2.00
|
|
|
Void
|
|
|
23.00
|
24.00
|
1.00
|
1.48**
|
4.8
|
1.48 g/t Au and 4.8
g/t Ag over 1.00 m
|
0.60
|
|
26.00
|
28.00
|
2.00
|
|
|
Void
|
|
|
28.00
|
29.00
|
1.00
|
1.10**
|
4.6
|
1.52 g/t Au and 4.0
g/t Ag over 2.00 m
|
1.50
|
|
29.00
|
30.00
|
1.00
|
1.93**
|
3.4
|
|
35.50
|
36.10
|
0.60
|
16.27**
|
27.7
|
7.90 g/t Au and 11.4
g/t Ag over 3.20 m
|
2.60
|
|
36.10
|
37.00
|
0.90
|
8.68**
|
9.6
|
|
37.00
|
37.80
|
0.80
|
6.67**
|
9.8
|
|
37.80
|
38.70
|
0.90
|
2.62**
|
3.6
|
|
LC20-284
|
42.00
|
43.40
|
1.40
|
11.13**
|
36.8
|
11.13 g/t Au and 36.8
g/t Ag over 1.40 m
|
1.30
|
|
LC20-285
|
|
|
|
|
|
No significant
results
|
|
|
LC20-286
|
21.00
|
22.20
|
1.20
|
5.34**
|
15.4
|
5.34 g/t Au and 15.4
g/t Ag over 1.20 m
|
0.90
|
|
36.50
|
37.50
|
1.00
|
1.70**
|
5.1
|
1.70 g/t Au and 5.1
g/t Ag over 1.00 m
|
0.80
|
|
LC20-287
|
16.30
|
17.30
|
1.00
|
9.00
|
13.8
|
9.00 g/t Au and 13.8
g/t Ag over 1.00 m
|
0.80
|
|
LC20-288
|
21.80
|
22.30
|
0.50
|
3.42
|
9.1
|
3.42 g/t Au and 9.1
g/t Ag over 0.50 m
|
0.50
|
|
LC20-289
|
|
|
|
|
|
No significant
results
|
|
|
LC20-290
|
17.00
|
17.50
|
0.50
|
9.08
|
19.4
|
9.08 g/t Au and 19.4
g/t Ag over 0.50 m
|
0.50
|
|
LC20-291
|
32.70
|
33.90
|
1.20
|
3.64**
|
19.0
|
3.64 g/t Au and 19.0
g/t Ag over 1.20 m
|
1.00
|
|
37.50
|
38.50
|
1.00
|
12.25**
|
14.7
|
12.25 g/t Au and 14.7
g/t Ag over 1.00 m
|
0.80
|
|
LC20-292
|
9.30
|
9.90
|
0.60
|
6.79**
|
16.5
|
7.23 g/t Au and 12.6
g/t Ag over 2.70 m
|
2.60
|
|
9.90
|
11.00
|
1.10
|
0.34**
|
2.5
|
|
11.00
|
12.00
|
1.00
|
15.08**
|
21.3
|
|
18.30
|
19.10
|
0.80
|
7.73**
|
21.5
|
14.42 g/t Au and 20.1
g/t Ag over 5.20 m
|
4.40
|
|
19.10
|
20.10
|
1.00
|
11.71**
|
13.7
|
|
20.10
|
21.20
|
1.10
|
0.43**
|
2.7
|
|
21.20
|
22.20
|
1.00
|
26.63**
|
34.6
|
|
22.20
|
23.50
|
1.30
|
23.07**
|
27.90
|
|
LC20-293
|
15.50
|
16.90
|
1.40
|
12.95**
|
30.40
|
12.95 g/t Au and 30.4
g/t Ag over 1.40 m
|
1.40
|
|
LC20-294
|
16.30
|
17.10
|
0.80
|
1.17**
|
6.7
|
1.17 g/t Au and 6.7
g/t Ag over 0.80 m
|
0.80
|
|
19.00
|
19.60
|
0.60
|
10.18**
|
19.7
|
10.18 g/t Au and 19.7
g/t Ag over 0.60 m
|
0.60
|
|
LC20-295
|
0.00
|
1.50
|
1.50
|
1.40
|
12.20
|
2.42 g/t Au and 16.9
g/t Ag over 3.60 m
|
3.50
|
|
1.50
|
3.00
|
1.50
|
3.87
|
25.00
|
|
3.00
|
3.60
|
0.60
|
1.32
|
8.4
|
|
LC20-296
|
50.10
|
51.10
|
1.00
|
12.70
|
59.1
|
12.70 g/t Au and 59.1
g/t Ag over 1.00 m
|
0.80
|
|
LC20-297
|
48.20
|
49.70
|
1.50
|
37.30
|
33.8
|
22.30 g/t Au and 20.0
g/t Ag over 3.10 m
|
3.00
|
|
49.70
|
50.50
|
0.80
|
14.10
|
10.1
|
|
50.50
|
51.30
|
0.80
|
2.36
|
4.0
|
|
LC20-298
|
61.00
|
62.00
|
1.00
|
14.30
|
18.5
|
14.30g/t Au and 18.5
g/t Ag over 1.00 m
|
0.90
|
|
LC20-299
|
40.00
|
41.50
|
1.50
|
5.59
|
20.1
|
5.59 g/t Au and 20.1
g/t Ag over 1.50 m
|
1.2
|
|
LC20-300 to
301
|
|
|
|
|
|
No significant
results
|
|
|
LC20-302
|
0.00
|
1.50
|
1.50
|
3.31
|
5.9
|
Historical
dump****
|
|
|
1.50
|
2.50
|
1.00
|
2.26
|
1.9
|
|
2.50
|
4.00
|
1.50
|
8.22
|
10.7
|
|
LC20-303
|
25.00
|
26.00
|
1.00
|
3.59
|
5.1
|
3.59 g/t Au and 5.1
g/t Ag over 1.00 m
|
0.7
|
|
LC20-304
|
12.00
|
13.00
|
1.00
|
5.31
|
2.4
|
5.31 g/t Au and 2.4
g/t Ag over 1.00 m
|
0.9
|
|
LC20-305 to
314
|
|
|
|
|
|
Results
pending
|
|
The mineralized intervals shown above utilize a 1.0 g/t gold
cut-off grade with not more than 1.1 meter of internal dilution.
*Widths are reported as drill core lengths. **Indicates use
of metallic screening method for assays. ***True width is
estimated from interpreted sections. ****Historical 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 historical dump material
can be erratic and unpredictable.
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 from mineralized veins
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 using the metallic screening method
are indicated. 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. No top cut has been applied to the reported assay
results.
Qualified Person
John M. Kowalchuk, P.Geo, a
geologist and qualified person (as defined under National
Instrument 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 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 goal of the 2020 drill
program at Las Conchitas, being to focus on the most promising
zones of near surface, shallow dipping, high-grade gold
mineralization in order to delineate a maiden resource estimate,
will ultimately be achieved; that the Bayacun Zone is among the
most promising zones within the Las Conchitas area; that the latest
drilling was designed to further test the strike and dip extension
and to improve the understanding of structural controls at the
Bayacun Zone; that the Company remains committed to accelerating
drilling of the Bayacun Zone and the multiple targets within the
Las Conchitas area once San Albino is
commissioned. 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 and assay
results will not be obtained; the risk that the Company's drilling
at Las Conchitas in 2020 will not delineate a maiden resource; 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 for
the Bayacun Zone in 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.
