Mako Mining Corp. (TSX-V: MKO; OTCQB: MAKOF) ('Mako' or the 'Company') is pleased to report positive results from the recently completed infill drilling program at its wholly-owned San Albino gold project ('San Albino') located in Nueva Segovia, Nicaragua.
The 2019-20 infill grade-control drilling program consisted of 18,037 meters ('m') of drilling in 368 diamond drill holes on the San Albino Zone, which is the main gold bearing zone at San Albino, and an additional 5,947 m of drilling in 147 diamond drill holes on the Arras Zone. The San Albino and Arras Zones are the areas outlined by the West, Central, Southwest 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.
The objectives of the 2019-20 infill drilling program were to: Determine the continuity of the San Albino Zone
Determine extensions of San Albino Zone along strike and down dip
Confirm other mineralized zones (Arras Zone)
Determine the grade and extent of historical dump material
Compile all necessary data to allow a third-party to update the resource estimate in the PEA
In accordance with the final objective of the 2019-20 infill drilling program, the Company has hired Mine Development Associates ('MDA'), a division of RESPEC, out of Reno, Nevada to update the resource estimate in the PEA. The MDA team will be led by Steven Ristorcelli, Principal Geologist, with the goal of providing an updated resource estimate in late in Q3 based on assay data received through the end of this month. The updated resource estimate will only focus on San Albino. MDA has also been retained to begin evaluating the exploration work being performed at the Las Conchitas area, with the ultimate goal of preparing a maiden mineral resource estimate.
The highlights of this press release are drill holes SA20-418 and SA20-471. Both holes were drilled to test the continuity of the high-grade Porcelana-style mineralization encountered in multiple drill holes reported last year.
SA20-418 intersected 69.99 g/t Au and 104.3 g/t Ag over 1.8 m, including 121.80 g/t Au and 177.0 g/t Ag over 1 m. Mineralization in the hole begins 34.4 m from surface, with visible gold observed in this interval.
SA20-471 intersected 47.89 g/t Au and 23.38 g/t Ag over 2.55 m, including 136.00 g/t Au and 62.2 g/t Ag over 0.75 m. Mineralization in the hole begins 35.4 meters from surface. SA20-471 is located 120 m along strike from SA20-418 and confirms continuity of a high-grade gold zone in the Porcelana area which extends for approximately 130 m along strike and approximately 70 m down dip.
Akiba Leisman, CEO of Mako Mining states that 'the completion of infill drilling is another key milestone at San Albino. We believe the results in this press release and over the past year to be some of the highest grade results for any open pit project globally. Now that close-spaced drilling has confirmed our revised geologic model, the update of the resource estimate will serve as the basis for the proposed 500 tonne per day mine plan at the San Albino gold project.'
The Company is also pleased to report extensions of the San Albino Zone along strike to the southwest, which have extended the zone by 100 m. SA20-493 intersected 28.30 g/t Au and 36.4 g/t Ag over 0.50 m, approximately 28 m below surface. Continuity of this area of the zone is demonstrated in the following holes
SA20-470 intersected 28.50 g/t Au and 37.70 g/t Ag over 0.60 m, approximately 21.9 m from surface
SA19-329 intersected 30.03 g/t Au and 30.9 g/t Ag over 0.9 m, approximately 47 m from surface
SA19-400 intersected 10.65 g/t Au and 16.8 g/t Ag over 2.0 m, approximately 32 m from surface
Furthermore, Mako was able to extend the San Albino Zone down dip to the northwest. There was a previously unmodelled fault in this area that brought the zone approximately 37 m closer to the surface than projected. This may have positive implications, as this may allow the pit to extend further to the northwest to access this shallower gold bearing mineralization. Continuity of this area of the zone is demonstrated in the following holes: SA20-402 intersected 11.82 g/t Au and 26.1 g/t Ag over 0.7 m, approximately 27 m from surface
SA19-403 tested the same mineralized zone approximately 50 m down dip and intersected the zone with 7.75 g/t Au and 7.6 g/t Ag over 5.7 m (true thickness of 3.7 m) at a vertical depth of 28 m
Results are pending for several other holes (SA20-504, 505 and 506) that tested the down-dip continuity of the vein for an additional 80 m to a depth below surface of 80 m. All three holes intersected the San Albino Zone and it remains open down dip
Results from 156 holes are reported in this press release. Results are pending from a total of 95 holes in the San Albino Zone and 114 holes in the Arras Zone.
Sampling, Assaying, QA/QC and Data Verification
The entire mineralized interval was sampled, including hanging wall and footwall zones until no mineralization was observed in the core. 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.
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.
Contact:
Akiba Leisman
Tel: 203-862-7059
Email: aleisman@makominingcorp.com
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 results from the Company's exploration and in-fill drilling programs will be as anticipated; that the Porcelana-style 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 to 500 tonnes per day based on all anticipated successful drilling results; that the geological model will continue to yield highly predicable results;that MDA will be able to prepare an updated resource estimate for San Albino in late in Q3 2020 based on assay data received through the end of this month; the MDA, in evaluating the exploration work being performed at Conchitas area, will be able to prepare a maiden mineral resource estimate for the Las Conchitas area in the future; that the results in this press release and over the past year are some of the highest grade results for any open pit project globally; that the previously unmodelled fault in the San Albino area that brought the zone approximately 37 m closer to the surface than projected will have positive implications, allowing the pit to extend further to the northwest to access this shallower gold bearing mineralization; that the Company will be able to bring San Albino into production quickly and efficiently while continuing exploration of prospective targets in Nicaragua, such as the Las Conchitas area;that although the Company's production decision at its San Albino project is not based on a technical study supporting mineral reserves, and therefore not based on demonstrated economic viability, that the Company will be successful in any proposed financing plans necessary for the construction at the San Albino project. 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 San Albino will not be obtained; that MDA will not be successful in producing an updated resource estimate at San Albino in Q3 2020; that MDA will not be able to produce a maiden resource estimate at the Las Conchitas area in the future; that the results at San Albino prove not to be some of the highest grade results of any open pit project globally; that the unmodelled fault in the San Albino area that brought the zone closer to surface than projected will have positive implications for extending the pit; 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 its Las Conchitas exploration 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.
MAKO MINING CORP. 
