Sailfish Provides Update on Las Conchitas Royalty Following Mako's Recent Announcements TORTOLA, British Virgin Islands ,
Sailfish Provides Update on Las Conchitas
Royalty Following Mako's Recent
Announcements
TORTOLA,
British Virgin Islands
,
Dec. 15, 2020
/CNW/ - Sailfish Royalty Corp. (TSXV: FISH)
(OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce significant updates on the
Company's Las Conchitas gold royalty. The Company holds a 2% net smelter return royalty ("NSR")
on the Las Conchitas area which is located approximately 2.5 kilometers south of the fully permitted
San Albino gold project ("San Albino") which is currently under construction.
On
December 14, 2020
,
October 22, 2020
and
August 31, 2020
, Mako Mining Corp. ("Mako")
publicly announced positive drill results from the Bayacun Zone within the Las Conchitas area of its
wholly-owned San Albino-Murra property located in
Nueva Segovia
,
Nicaragua
.
Highlights
(from Mako's
December 14, 2020
news release)
Stacked high-grade intervals starting near surface, extending the down-dip projection of the
Bayacun Zone and the up-dip projection of the Mango Zone
50.1 g/t Au and 40.6 g/t Ag over
0.8 m
(
0.8 m
true width) at
3 m
from surface,
5.2 g/t Au and 2.0 g/t Ag over
3 m
(
2.3 m
true width) at
88 m
from surface; and
45.79 g/t Au and 17.3 g/t Ag over
1.1 m
(
1.0 m
true width) at
97 m
from surface in hole
LC20-310
Other stacked intervals were encountered in holes LC20-305, LC20-306, LC20-308, LC20-309,
LC20-311, LC20-313 LC20-314 (see
Mako's
December
14
, 2020 news release
for the full
table)
The Bayacun Zone remains open along strike, including north to the Mango Zone, east towards
the Las Dolores Zone, and downdip
Highlights
(from Mako's
October 22, 2020
news release)
Confirmed near surface mineralization approximately 45 meters up-dip from previous high-grade
hole
40.17 g/t Au and 26.8 g/t Ag over
2.0 m
(
1.95 m
true width) at
2.5 m
from surface in hole
LC20-238
Intersected high-grade mineralization at significantly wider intervals than the average reported to
date at Las Conchitas
14.42 g/t Au and 20.1 g/t Ag over
5.2 m
(
4.4 m
true width) in hole LC20-292
22.30 g/t Au and 20.0 g/t Ag over
3.1 m
(
3.0 m
true width) in hole LC20-297
Confirmed extension of the Bayacun Zone to
220 m
strike by
230 m
dip and remains open along
strike and downdip
Highlights
(from Mako's
August 31, 2020
news release)
Confirmed mineralization in a previously untested fault block
22.26 g/t Au and 44.6 g/t Ag over
4.5 m
in hole LC20-277
Intersected mineralization at significantly wider intervals than the average reported to date
22.26 g/t Au and 44.6 g/t Ag over
4.5 m
(
4.3 m
true width) in hole LC20-277
11.71 g/t Au and 25.5 g/t Ag over
5.5 m
(
5.0 m
true width) in hole LC20-278
Multiple mineralized zones intersected in most holes
Three separate zones, including 28.21 g/t Au and 43.1 g/t Ag over
2.8 m
in hole LC20-
280
Located the historical Las Dolores tunnel
14.68 g/t Au and 39.1 g/t Ag over
2.65 m
above a
4.0 m
void in hole LC20-276
Confirmed extension of the Bayacun Zone to
220 m
strike by
160 m
dip and remains open in
both directions
Cesar Gonzalez
, Chief Executive Officer of Sailfish states that, "We are extremely pleased with the
ongoing drilling campaign at Las Conchitas which continues to yield impressive results. We are also
impressed with Mako's commitment to continued drilling at Las Conchitas while advancing San
Albino into production. This provides significant value to Sailfish as we hold the gold stream
equivalent to a 3% NSR on the San Albino gold project and a 2% NSR on the rest of the area
surrounding San Albino, including Las Conchitas."
Sailfish would like to remind its shareholders that the gold stream equivalent to a 3% NSR on San
Albino and 2% NSR royalty on the surrounding district-scale land package (Las Conchitas area) are
cornerstone assets of the Company and that upcoming project development and exploration updates
provided by Mako should be monitored with increased interest. For complete technical information
on the Las Conchitas area, refer to Mako's news releases issued on
December 14, 2020
,
October
22, 2020
and
August 31, 2020
, which are available on its SEDAR profile at
www.sedar.com
.
About Sailfish
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are two
cornerstone assets on advanced stage projects in the Americas: a gold stream equivalent to a 3%
NSR on the San Albino gold project (~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 3.5% NSR on the Tocantinzinho gold
project in the prolific Tapajos district of northern
Brazil
. The acquisition of Terraco Gold Corp. adds a
potential cornerstone asset: 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 (such statements being referred to as "forward-looking
statements"). 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 San Albino gold project is nearing production and any drill results relating to the Bayacun Zone
within the Las Conchitas area. 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 San Albino gold project is nearing production, and that the forward-looking
statements in Mako's public disclosure are accurate. 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: that the San Albino gold project is not nearing production
or will not achieve production at all. 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, except in accordance with applicable securities laws.
SOURCE
Sailfish Royalty Corp.
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%SEDAR: 00044073E
For further information:
Cesar Gonzalez, CEO, tel. 203-862-7009 or Akiba Leisman, Executive
Chairman of the Board, tel. 203-862-7059
CO: Sailfish Royalty Corp.
CNW 08:00e 15-DEC-20