Sailfish Provides Update on its San Albino Royalty TORTOLA, British Virgin Islands ,
Sailfish Provides Update on its San Albino
Royalty
TORTOLA,
British Virgin Islands
,
Oct. 25, 2022
/CNW/ - Sailfish Royalty Corp. (TSXV: FISH)
(OTCQX: SROYF) (the "
Company
" or "
Sailfish
") is pleased to report that Mako Mining Corp.
("
Mako
") has announced additional results from its recent definition and expansion drilling program at
the Las Conchitas area of its wholly-owned San Albino-Murra property located in northern
Nicaragua
. The Las Conchitas area is located immediately south of the producing San Albino gold
mine ("
San Albino
"), which is currently in commercial production.
As a reminder to shareholders, Sailfish currently holds a gold stream equivalent to a 3% net smelter
return royalty ("
NSR
") on San Albino and a 2% NSR on the Las Conchitas area which consists of
Las Conchitas North, Las Conchitas Central and Las Conchitas South (collectively, "
Las
Conchitas
").
Paolo Lostritto
, Chief Executive Officer of Sailfish states that, "Recent drill results by Mako at their
Las Conchitas area continues to demonstrate an expanded mineralized footprint along with gold
grades which are above what is currently being mined at their nearby San Albino pit. Mako currently
has seven drill rigs working in
Nicaragua
as part of their
US$17.2 million
exploration program
announced earlier this year; five of which are dedicated to the Los Conchitas area. Year-to-date,
Mako has completed 208 drill holes (30,558 metres) with the objective of updating the Company's
mineral resources. Given that Sailfish holds a 2% NSR on the entire Las Conchitas region, we look
forward to the maiden Las Conchitas resource which is expected in 2023."
Highlights
(from Mako's
October 24, 2022
news release)
Highlights of the recent drilling at Las Conchitas
Las Conchitas - North
Mina Francisco
("MF")
42.59 g/t Au and 31.3 g/t Ag over
2.10 m
(ETW)
26.66 g/t Au and 47.7 g/t Ag over
2.50 m
(
2.4 m
ETW)
20.30 g/t Au and 55.8 g/t Ag over
2.00 m
(
1.9m
ETW)
5 meters from surface
Intermediate ("Int")
22.89 g/t Au and 7.2 g/t Ag over
1.40 m
(
1.3 m
ETW)
Las Conchitas - Central
Cruz Grande
("CG")
25.07 g/t Au and 31.0 g/t Ag over
2.20 m
(ETW)
27.30 g/t Au and 20.9 g/t Ag over
1.10 m
(ETW)
Las Conchitas - South
El Limon ("EL")
14.50 g/t Au and 10.8 g/t Ag over
0.60 m
(
0.5 m
ETW)
65.45 g/t Au and 41.7 g/t Ag over
1.80 m
(
1.7 m
ETW)
Mango ("Mg")
7.55 g/t Au and 1.6 g/t Ag over
1.00 m
(
0.9 m
ETW)
Note * ETW is estimated true width measured from interpreted sections
For complete information on these results, please refer to Mako's news release issued on
October
24, 2022
, which is available on its SEDAR profile at
www.sedar.com
or on Mako's website at
www.makominingcorp.com
.
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are two main
assets in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold mine (~3.5
sq. km) and a 2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern
Nicaragua
; and an up to 3% NSR on the multi-million ounce
Spring Valley
gold project in
Pershing
County, Nevada
.
Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under
the symbol "SROYF". Please visit the Company's website at
www.sailfishroyalty.com
for additional
information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary statement regarding forward–looking information
Certain disclosures in this release constitute "forward-looking information" within the meaning of
Canadian securities legislation. Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by words such as the following: expects, plans,
anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions.
Forward-looking statements also include reference to events or conditions that will, would, may,
could or should occur, including, without limitation, statements regarding the Company's
expectation that the Las Conchitas discovery will convert into a mineable resource or will ever
become mineable. In making the forward-looking statements in this news release, the Company
has applied certain factors and assumptions that the Company believes are reasonable, including
that the Las Conchitas discovery will convert into a mineable resource or will ever become
mineable. However, the forward-looking statements in this news release are subject to numerous
risks, uncertainties and other factors that may cause future results to differ materially from those
expressed or implied in such forward-looking statements, including without limitation: the Las
Conchitas discovery will convert into a mineable resource or will ever become mineable. There
can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements and forward-looking information.
Readers are cautioned that reliance on such information may not be appropriate for other
purposes. The Company does not undertake to update any forward-looking statement, forward-
looking information or financial out-look that are incorporated by reference herein, except in
accordance with applicable securities laws.
SOURCE
Sailfish Royalty Corp.
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%SEDAR: 00044073E
For further information:
Paolo Lostritto, CEO, tel. 416-602-2645 or Akiba Leisman, Executive
Chairman of the Board, tel. 203-862-7059
CO: Sailfish Royalty Corp.
CNW 07:00e 25-OCT-22