TSX-V: MKO; OTCQX: MAKOF
VANCOUVER, BC, Nov. 19, 2021 /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 granted
an exploration permit to the Company for the Potrerillos concession
acquired in December 2019.
Starting from November 15, 2021,
the permit is valid for 10 years and is renewable for up to an
additional 20 years. The Company is now permitted to
drill up to 800,000 meters ("m") as follows: 250,000 m of diamond drilling; 250,000 m of reverse circulation drilling; and
300,000 m of blast hole
drilling. The Company is also permitted to carry out up to
12,000 m of trenching.
Additionally, as of November 12,
2021, all legal documents and procedures, including the
public consultation for the La Segoviana concession, located
northeast of Potrerillos, are complete. The Company awaits
MARENA's approval of this additional exploration permit, which is
expected over the course of the next 45 days.
Akiba Leisman, Chief Executive
Officer of Mako states that, "I would personally like to thank
MARENA on behalf of our team for granting this permit. This
is yet another example of why Nicaragua is a mining friendly
jurisdiction. Reconnaissance exploration work to date
indicates that Potrerillos is the direct strike extension of the
San Albino gold deposit, and the receipt of these permits allows us
to begin drill testing the approximately 3.5 kilometers of strike
potential. The district potential of San Albino is becoming
clearer, and these permits will allow us to begin the process of
discovery on parts of our concessions that have never been drilled
before."
See the map below titled "Concessions Map" for more details on
the location of the Potrerillos concession relative to the San
Albino gold deposit and the three other concessions that comprise
Mako's approximately 188 square kilometers land package in northern
Nicaragua.
On behalf of the Board,
Akiba
Leisman
Chief Executive Officer
About Mako
Mako Mining Corp. is a publicly listed gold mining, development
and exploration company. The Company operates the high-grade
San Albino gold mine in Nueva
Segovia, Nicaragua, which
ranks as one of the highest-grade open pit gold mines
globally. Mako's primary objective is to operate San Albino
profitably and fund exploration of prospective targets on its
district-scale land package.
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 current plans, expectations and assumptions, and
includes, without limitation, information related to plans to begin
drill testing the approximately 3.5 kilometers of strike potential
to confirm continuity of mineralization from San Albino and a
process of discovery on parts of our concessions that have never
been drilled before; and the expectation that we will obtain from
MARENA a permit for the La Segoviana concession over the course of
the next 45 days; 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
proposed drilling on the Potrerillos concession; that exploration
and assay results do not confirm continuity of mineralization as
expected; that MARENA does not approve and issue a permit for the
La Segoviana concession within the timeframe expected, or at all;
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.
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SOURCE Mako Mining Corp.