Sailfish Provides Update on San Albino Gold Stream Following Mako's Recent Announcement TORTOLA, British Virgin Islands ,
Sailfish Provides Update on San Albino Gold
Stream Following Mako's Recent
Announcement
TORTOLA,
British Virgin Islands
,
April 20, 2021
/CNW/ - Sailfish Royalty Corp. (TSXV: FISH)
(OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce significant updates on the
Company's gold stream equivalent to a 3% net smelter return royalty ("NSR") on the San Albino gold
project located in northern
Nicaragua
("San Albino").
On
April 19, 2021
, Mako Mining Corp. ("Mako") publicly announced grade and tonnage results from
mining the first four benches of the San Albino vein at San Albino.
Highlights
(from Mako's
April 19, 2021
news release)
The mined benches consisted of four, six-meter benches between 610 and 592 meters above sea
level and contained a total of 7,734 ounces Au and 12,269 ounces Ag within 13,787 tonnes of
diluted vein material grading 17.45 g/t Au and 27.7 g/t Ag.
Additionally, 51,169 tonnes of historical dump material, grading 2.54 g/t Au were also mined from
these four benches as well as from areas that did not include the San Albino vein, bringing the
total stockpile to over 11,900 ounces of gold.
The diluted vein material mined at San Albino thus far has positively reconciled on both grade and
ounces by 20.8% and 6.4%, respectively, to the mineral resource estimate prepared by Mine
Development Associates ("MDA"), a division of RESPEC, out of Reno, Nevada. A technical report
for the updated mineral resource estimate (the "MDA Resource") was filed in accordance with
National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") under
Mako's SEDAR profile at
www.sedar.com
and is available on Mako's website at
www.makominingcorp.com
(also see Mako's press release dated
October 19
, 2020). In
comparison, 15,647 tonnes at a grade of 14.45 g/t Au and 25.3 g/t Ag containing 7,269 ounces Au
and 12,731 ounces Ag over the same four benches were modeled in the MDA Resource.
Diluted Vein Material Sent to Stockpile
Bench
Diluted
Vein Tonnes*
Diluted
Grade
Au (g/t)
Diluted
Grade
Ag (g/t)
Ounces
Au
Ounces
Ag
610
2,654
11.74
17.7
1,002
1,510
604
2,467
19.32
32.4
1,532
2,570
598
3,636
17.28
22.6
2,020
2,647
592
5,030
19.67
34.3
3,180
5,542
Total
13,787
17.45
27.7
7,734
12,269
*Total tonnes are estimated by subtracting laser survey scans of the topography before and after
mining the bench.
Breakdown of Total Material Sent to Stockpile
Material
Tonnes
Grade
Au
(g/t)
Grade
Ag
(g/t)
Ounces
Au
Ounces
Ag
Diluted Vein
13,787
17.45
27.7
7,734
12,269
Historical Dump
51,169
2.54
4.0
4,177
6,503
Total
64,956
11,911
18,772
Cesar Gonzalez
, Chief Executive Officer of Sailfish states that, "we are extremely pleased with the
mining progress at San Albino and the positive reconciliation to the MDA Resource thus far.
Specifically, the diluted grades being mined of over 17 g/t Au are remarkable for an open pit
operation and bode well for the viability of the project and our gold stream. We look forward to
passing along additional updates as San Albino continues to advance toward commercial
production."
For complete information on the San Albino highlights, refer to Mako's news release issued on
April
19, 2021
, which is 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 three main
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
; an up to 2.75% NSR on the Tocantinzinho gold project
in the prolific Tapajos district of northern
Brazil
; 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 (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 fully permitted and nearing production and may provide future
cashflow or additional mineral resources. 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 or in 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 or drilling results will not be converted to
additional mineral resources and/or future cashflow. 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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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 20-APR-21