Mako Mining Corp. announced further results from a reverse circulation (RC) drill program at Mako's newest mining area, Las Conchitas, located immediately south of the company's San Albino gold mine, which is in commercial production. In 2023, Mako completed 11,737.6 m in 262 RC drill holes in the ongoing resource expansion drill program.

The results reported in this release are from two of three main zones at Las Conchitas (North and South), hosting the gold mineral resource estimate ("MRE") at the San Albino Project. The main objectives of the near-surface, extension and confirmation drilling campaign were to gain a higher level of confidence of the geometry of gold mineralization within six areas of interest where the Company has received a permit to process material through the San Albino plant and to identify gold mineralization for potential resource expansion beyond the Company's current MRE. At LC-S, drilling was successful in targeting extensions of El Limon and Mango mineralized structures.

The key objectives were to extend a high-grade, wide zone identified by the Company's previous diamond drilling. Drill hole LC23-RC273 intersected a wide interval, starting at 62 m from surface of 51.78 g/t Au and 37.8 g/t Ag over 4.0 m (3.9 m ETW). This interval confirmed a 29m strike extension of high-grade mineralization, within the El Limon zone, of 14.50 g/t Au and 10.8 g/t Ag over 0.6 m (0.5 m ETW) at 57.6 m vertical depth in drill hole LC22-471.

In addition, drill hole LC23-RC272 intersected the same high-grade zone comprised of 19.43 g/t Au and 36.8 g/t Ag over 2.0 m (1.9 m ETW), 30 m SW along strike from LC23-RC273. Both of these recent drill holes intersected the zone outside of the current resource model and confirm potential resource expansion beyond the Company's current MRE. In addition, several drill holes were designed to test the down dip extension of the Mango zone, stratigraphically located between the El Limon and Bayacun zones.

This post-resource drilling in the Mango zone supports the potential for additional shallow (open-pitable), high grade, low strip ratio, mineral resources. Highlights of the Mango drilling include drill hole LC23-RC261 which intersected 25.75 g/t Au and 27.2 g/t Ag over 2.0 m (1.9 m ETW), at 72 m vertical depth and 20 m below the currently optimized pit design. This high-grade intercept represents an extension of 38 m down dip from core drill hole LC20-177 that reported 29.78 g/t Au and 22.2 g/t Ag over 0.5 m (ETW).

During the haul road construction for a bulk sampling program in the El Limon area, the Company confirmed and exposed additional high-grade mineralization in a road-cut, measuring approximately 80m down dip and 30m along strike. This area was not included in the current MRE. A total of 13 surface channel samples were collected within the area, with results ranging from 0.42 g/t Au and 4.3 g/t Ag over 1.0 m to 94.4 g/t Au and 25.7 g/t Ag over 0.8 m. Drill hole LC23-RC258 intersected the same high grade mineralization exposed in the road cut, at a vertical depth of 9.3 m, of 22.30 g/t Au and 22.8 g/t Ag over 2.0 m, inside the current pit-constrained resource model boundaries but not included in the MRE.

In addition, the Company is reporting 23 RC drill holes at the northern portion of Las Conchitas ("LC-N"), at the Tirado and San Pablo zones. The main objective was to gain a higher level of confidence in the geometry of gold mineralization and expand it within and beyond the Company's current MRE boundaries. Drill hole LC23-RC251 intersected a splay of the San Pablo quartz vein, at 51 m vertical depth of 16.20 g/t Au and 19.0 g/t Ag over 3.0 m. This interval of high-grade gold mineralization was intersected outside of the current resource model and supports the potential to expand resources.