TSX-V: MKO; OTCQB: MAKOF
VANCOUVER, May 6, 2020 /CNW/ - Mako Mining
Corp. (TSX-V: MKO; OTCQB: MAKOF) ("Mako" or the "Company")
is pleased to report positive results from infill drilling at its
wholly-owned San Albino gold project ("San Albino") located in
Nueva Segovia, Nicaragua.
To date, 5,491.90 meters ("m") of drilling in 134 diamond drill
holes has been completed within the Arras Zone, which is the area
outlined by the Central and Northeast pits in the Company's
preliminary economic assessment ("PEA"), dated April 29, 2015 and available under the Company's
profile on SEDAR at www.sedar.com, with assays reported for 28 of
these holes in this press release (see attached map).
The 2019-20 drilling program targeting the Arras Zone was
focused on identifying shallow mineralization that can augment the
initial phase of mining at the West pit. The Company followed
a systematic approach of drilling shallow holes every 20 m along strike and 20-40 m down dip. The results indicate a zone
of approximately 80 m along strike by
100 m down dip with grades and
thickness that are variable within the zone. Importantly, the
Arras Zone remains open down dip with previous wide-spaced drilling
intersecting the zone at over 600 m
down dip.
The highlights of this press release are drill holes AR20-162
and AR20-166. Both holes were drilled to test mineralization
encountered in tunnel AR13-TNL-03, which had a couple of channel
samples of vein material that assayed over 30 g/t Au. Drill
hole AR20-162 tested the surface expression of the vein exposed in
tunnel AR13-TNL-03 and drill hole AR20-166 tested the same vein
along the strike and down dip.
AR20-162 intersected 30.27 g/t Au and 31.2 g/t Ag over
5.5 m (4.2
m estimated true width) approximately 2 m from surface (see attached cross section).
This hole tested the surface expression of the vein encountered in
tunnel AR13-TNL-03. Results from AR20-162 indicate a similar
grade approximately 10 m up dip over
a wider interval.
AR20-166 was collared approximately 36
m north and down dip from AR20-162 and intersected a zone
with an estimated true thickness of 2.7
m approximately 1.5 m from
surface. The mineralized zone encountered in AR20-166 had a
total of five significant intercepts although the drill hole had
poor recovery and possibly encountered several historic
workings. The two highest grade intercepts were 63.10 g/t Au
and 46.4 g/t Ag over 2.15 m and 28.40
g/t Au and 33.3 g/t Ag over 1.0 m
(see attached cross section).
Three Arras Zone holes from the 2019-20 drilling program were
previously released, highlighted by AR19-115, which intersected
24.18 g/t Au and 28.5 g/t Ag over 6.45
m (5.9 m estimated true width)
approximately 29 m from surface (see
attached longitudinal section and press release dated September 4, 2019).
A diamond drill rig along with a production drill rig will
continue to identify additional shallow mineralization and to
quantify historic dumps along a previously tested ravine between
the shallow and deeper portion of the Arras Zone (see attached
map). Results are pending from a total of 103 holes in the
Arras Zone.
Mako is also pleased to report that mining at the West pit has
recommenced after a six-week pause to implement safety protocols
due to the COVID-19 global pandemic. It is anticipated that
mining will ramp up over the course of the next few months.
Akiba Leisman, Chief Executive
Officer of Mako states "it is rare in modern gold mining to
intersect more than 30 g/t Au over four meters estimated true width
and only a couple of meters from surface. It is encouraging
to see positive results from drilling in the Arras Zone because the
zone is not as well advanced as the zones within the West pit,
where the bulk of the infill program was focused last year, and
where initial mining has recommenced. Today's results and
those to follow have the potential of improving the already robust
San Albino gold project by bringing in high-grade and near surface
ounces into the mine plan earlier than anticipated."
History of the Arras Zone
Historic data indicates that the Arras Zone was discovered by
the Spanish, with mining limited to superficial workings where
veins outcropped and formed the southern dip slope; this may
partially explain the sporadic continuity in the shallow drill
holes.
A review of a 1948 report by Roger
Peale indicates that the Arras Zone was one of the last
areas mined at San Albino. The area is described as being in
production as late as 1943 and with several shoots extending
30 m along strike and 20 m down dip. Overall, the Arras Zone is
described as having a strike extent of 200
m and dip of 60 m and average
width of 1.6 m. Subvertical and
low angle faults are described to have offset the veins.
2019-20 Infill Drilling Program Assay Results Reported in
this Press Release
|
Drill
Hole
|
From
(m)
|
To
(m)
|
Width
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Interval
Average/Comments
|
True
Width
(m)**
|
|
AR19-117
to 120
|
|
|
|
|
|
No significant
results
|
|
|
AR19-121
|
79.00
|
80.00
|
1.00
|
1.57*
|
4.3
|
1.57 g/t Au and 4.3
g/t Ag over 1.0 m
|
0.5
|
|
AR19-122
|
|
|
|
|
|
No significant
results
|
|
|
AR19-123
|
46.50
|
47.20
|
0.70
|
7.26*
|
16.6
|
7.26 g/t Au and 16.6
g/t Ag over 0.7 m
|
0.6
|
|
AR19-124
|
81.40
|
82.00
|
0.60
|
|
|
Void
|
|
|
AR19-125
|
28.50
|
30.00
|
1.50
|
3.67*
|
8.7
|
4.83 g/t Au and 11.8
g/t Ag over 4.7 m
|
4.4
|
|
30.00
|
31.50
|
1.50
|
1.61*
|
3.4
|
|
31.50
|
32.50
|
1.00
|
9.41*
|
23.8
|
|
32.50
|
33.20
|
0.70
|
7.69*
|
19.1
|
|
AR19-126
|
23.00
|
24.00
|
1.00
|
2.12*
|
35.9
|
2.12 g/t Au and 35.9
g/t Ag over 1.0 m
|
1.0
|
|
31.00
|
32.50
|
1.50
|
2.69*
|
4.7
|
2.69 g/t Au and 4.7
g/t Ag over 1.5 m
|
1.5
|
|
35.45
|
38.35
|
2.90
|
|
|
Void
|
|
|
AR19-127
|
11.40
|
24.00
|
12.60
|
|
|
Void and
Muck
|
|
|
20.50
|
21.50
|
1.00
|
6.42
|
22.8
|
Muck
|
|
|
AR19-128
|
15.50
|
16.50
|
1.00
|
1.13
|
0.8
|
1.13 g/t Au and 0.8
g/t Ag over 1.0 m
|
0.8
|
|
17.50
|
19.10
|
1.60
|
|
|
Void
|
|
|
19.10
|
20.00
|
0.90
|
0.57*
|
3.7
|
Muck
|
|
|
20.00
|
21.00
|
1.00
|
0.03
|
1.9
|
|
21.00
|
22.50
|
1.50
|
0.80
|
12.7
|
|
22.50
|
23.50
|
1.00
|
3.79*
|
20.4
|
5.77 g/t Au and 18.6
g/t Ag over 2.0 m
|
1.5
|
|
23.50
|
24.50
|
1.00
|
7.74*
|
16.8
|
|
AR19-129
|
17.60
|
19.80
|
2.20
|
|
|
Void
|
|
|
AR19-130
|
24.50
|
25.60
|
1.10
|
1.46*
|
8.5
|
3.86 g/t Au and 14.2
g/t Ag over 4.5 m
|
4.4
|
|
25.60
|
26.60
|
1.00
|
10.99*
|
25.2
|
|
26.60
|
27.60
|
1.00
|
3.33*
|
11.5
|
|
27.60
|
29.00
|
1.40
|
1.03*
|
12.8
|
|
AR19-131
|
19.10
|
20.10
|
1.00
|
37.66*
|
16.0
|
37.66 g/t Au and 16.0
g/t Ag over 1.0 m
|
0.9
|
|
75.80
|
76.80
|
1.00
|
5.61*
|
14.2
|
5.61 g/t Au and 14.2
g/t Ag over 1.0 m
|
0.9
|
|
AR19-132
|
18.00
|
19.50
|
1.50
|
1.01*
|
2.3
|
1.66 g/t Au and 3.3
g/t Ag over 3.0 m
|
2.5
|
|
19.50
|
21.00
|
1.50
|
2.32*
|
4.2
|
|
AR19-133
|
|
|
|
|
|
Results
pending
|
|
|
AR19-134
|
12.00
|
12.50
|
0.50
|
79.47*
|
67.5
|
79.47 g/t Au and 67.5
g/t Ag over 0.5 m
|
0.25
|
|
AR19-135
|
34.20
|
35.20
|
1.00
|
2.71*
|
12.9
|
17.12 g/t Au and 26.7
g/t Ag over 3 m
|
1.7
|
|
35.20
|
36.20
|
1.00
|
5.66*
|
9.3
|
|
36.20
|
37.20
|
1.00
|
42.99*
|
57.9
|
|
AR19-136
to 150
|
|
|
|
|
|
Results
pending
|
|
|
AR19-151
|
24.50
|
25.50
|
1.00
|
2.03
|
8.7
|
2.02 g/t Au and 8.7
g/t Ag over 1.0 m
|
0.6
|
|
AR19-152
to 155
|
|
|
|
|
|
Results
pending
|
|
|
AR19-156
|
8.40
|
9.10
|
0.70
|
26.20
|
34.5
|
26.20 g/t Au and 34.5
g/t Ag over 0.7 m
|
0.7
|
|
AR19-157
|
|
|
|
|
|
Results
pending
|
|
|
AR19-158
|
14.80
|
16.00
|
1.20
|
23.80
|
53.7
|
23.80 g/t Au and 53.7
g/t Ag over 1.2 m
|
0.6
|
|
17.50
|
18.00
|
0.50
|
7.10
|
24.0
|
7.10 g/t Au and 24.0
g/t Ag over 0.5 m
|
0.3
|
|
AR20-159
to 161
|
|
|
|
|
|
Results
pending
|
|
|
AR20-162
|
9.00
|
10.00
|
1.00
|
5.50
|
18.1
|
30.27 g/t Au and 31.2
g/t Ag over 5.5 m
|
4.2
|
|
10.00
|
10.70
|
0.70
|
0.49
|
5.2
|
|
10.70
|
11.20
|
0.50
|
22.30
|
31.0
|
|
11.20
|
11.90
|
0.70
|
164.70
|
98.0
|
|
11.90
|
13.00
|
1.10
|
19.00
|
27.0
|
|
13.00
|
13.50
|
0.50
|
4.83
|
4.4
|
|
13.50
|
14.50
|
1.00
|
10.90
|
34.0
|
|
AR20-163
to 164
|
|
|
|
|
|
Results
pending
|
|
|
AR20-165
|
0.00
|
1.30
|
1.30
|
8.62
|
21.8
|
Overburden
|
|
|
1.30
|
2.30
|
1.00
|
1.34
|
7.3
|
|
2.30
|
3.30
|
1.00
|
3.69
|
6.8
|
7.16 g/t Au and 23.37
g/t Ag over 3.0 m
|
2.8
|
|
3.30
|
4.30
|
1.00
|
10.50
|
33.9
|
|
4.30
|
5.30
|
1.00
|
7.29
|
29.4
|
|
AR20-166
|
0.00
|
1.50
|
1.50
|
2.92
|
11.3
|
Overburden
|
|
|
1.50
|
3.10
|
1.60
|
11.30
|
26.7
|
|
3.10
|
6.60
|
3.50
|
|
|
Void
|
|
|
6.60
|
7.10
|
0.50
|
3.26
|
7.6
|
3.26 g/t Au and 7.6
g/t Ag over 0.5 m
|
0.3
|
|
8.85
|
9.65
|
0.80
|
3.40
|
9.2
|
3.40 g/t Au and 9.2
g/t Ag over 0.8 m
|
2.7 (including
voids)
|
|
9.65
|
12.35
|
|
|
|
Void
|
|
12.35
|
13.80
|
1.45
|
2.42
|
8.9
|
2.42 g/t Au and 8.9
g/t Ag over 1.45 m
|
|
13.80
|
17.80
|
|
|
|
Void
|
|
18.30
|
20.45
|
2.15
|
63.10
|
46.4
|
63.10 g/t Au and 46.4
g/t Ag over 2.15 m
|
|
20.45
|
22.45
|
|
|
|
Void
|
|
22.45
|
23.45
|
1.00
|
28.40
|
33.3
|
28.40 g/t Au and 33.3
g/t Ag over 1.0 m
|
|
AR20-167
to 171
|
|
|
|
|
|
Results
pending
|
|
|
AR20-172
|
11.90
|
12.50
|
0.60
|
9.20
|
16.6
|
9.20 g/t Au and 16.6
g/t Ag over 0.6 m
|
0.5
|
|
12.50
|
15.10
|
2.60
|
|
|
Void
|
|
|
15.10
|
15.60
|
0.50
|
2.00
|
3.6
|
Muck
|
|
|
AR20-173
to 176
|
|
|
|
|
|
Results
pending
|
|
|
AR20-177
|
0.00
|
1.00
|
1.00
|
1.86
|
4.0
|
Overburden
|
|
|
3.20
|
4.20
|
1.00
|
5.11
|
31.8
|
5.11 g/t Au and 31.8
g/t Ag over 1.0 m
|
0.9
|
|
AR20-178
to 181
|
0.30
|
0.70
|
0.40
|
|
|
Results
pending
|
|
|
AR20-182
|
7.80
|
8.50
|
0.70
|
7.08
|
30.6
|
9.42 g/t Au and 15.9
g/t Ag over 2.7 m
|
2.5
|
|
8.50
|
9.50
|
1.00
|
0.08
|
2.5
|
|
9.50
|
10.50
|
1.00
|
20.40
|
19.0
|
|
AR20-183
to 198
|
|
|
|
|
|
Results
pending
|
|
|
AR20-199
|
2.00
|
3.00
|
1.00
|
1.11
|
3.3
|
1.11 g/t Au and 3.3
g/t Ag over 1.0 m
|
0.9
|
|
AR20-200
to 247
|
|
|
|
|
|
Results
pending
|
|
|
|
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. * Indicates use of
metallic screening method for assays. ** 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 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 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 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
CEO
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: Statements
contained herein, other than of historical fact, 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 Company's
exploration and in-fill drilling programs including at the Arras
Zone, will be successfully completed; that
mineralization discovered at the Central and Northeast pits will
augment the initial phase of mining at the West pit; that the
Company will be able to identify additional shallow mineralization
and to quantify historic dumps along the previously tested
ridgeline between the Central and Northeast pits and the West Pit;
that any outstanding assay results, including from the Arras Zone,
will be as anticipated; that the mineralization discovered is
anticipated to have a material impact on the economics of the San
Albino gold project; that the Company will be able to successfully
adjust its mine plan based on anticipated successful drilling
results from the Arras Zone, and bring in high-grade and near
surface ounces into the mine plan earlier than anticipated; that
the geological model will continue to yield highly predicable
results and that mining at the West pit will ramp up over the
course of the next few months and such other risk factors as
outlined in the continuous disclosure documents of the Company
filed on SEDAR at www.sedar.com. 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 drilling results at the Arras Zone at San Albino
will not be obtained; that the Company will not be able to augment
its initial phase of mining at the West pit as a result of
mineralization discovered at the Central and Northeast pits; 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 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.