Sailfish Reports San Albino Royalty Drilling Highlighted by 12.09 g/t Gold Over 11.5 m (Estimated True Width) at Las Conchitas South; 15 m from Surface
Sailfish Reports San Albino Royalty Drilling
Highlighted by 12.09 g/t Gold Over 11.5 m
(Estimated True Width) at Las Conchitas
South; 15 m from Surface
Tortola, British Virgin Islands--(Newsfile Corp. - August 3, 2023) - Sailfish Royalty Corp. (TSXV: FISH)
(OTCQX: SROYF) (the "
Company
" or "
Sailfish
") is pleased to report that Mako Mining Corp. ("
Mako
")
has announced the completion of a 230 drill hole, 9,000-meter ("
m
") infill reverse circulation ("
RC
") drill
campaign at the Las Conchitas area of its wholly-owned San Albino-Murra property located in northern
Nicaragua. This infill RC program is part of the company's efforts to publish a maiden resource at Las
Conchitas in 2023. Las Conchitas is located just south of the producing San Albino gold mine ("
San
Albino
"), which is currently in commercial production. Drilling was highlighted by:
Drilling Highlights:
12.09 grams per tonne ("
g/t
") Gold ("
Au
") and 23.5 g/t Silver ("
Ag
") over 14.0 m (11.5 m
Estimated True Width ("
ETW
")); including:
15.60 g/t Au and 24.9 g/t Ag over 4.0 m (3.5 m ETW)
31.10 g/t Au and 63.7 g/t Ag over 3.0 m (2.3 m ETW)
18.48 g/t Au and 43.8 g/t Ag over 3.0 m (2.6 m ETW)
15.60 g/t Au and 24.6 g/t Ag over 2.0 m (1.5 m ETW)
30.45 g/t Au and 17.6 g/t Ag over 5.0 m (4.5m ETW)
31.74 g/t Au and 14.1 g/t Ag over 4.0 m (3.3m ETW)
21.47 g/t Au and 17.1 g/t Ag over 2.0 m (ETW)
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, "This recent drilling at Las Conchitas
reinforces the near mine discovery potential on ground where Sailfish shareholders benefit from a
stream/royalty agreement. This is exciting news as Sailfish holds a 2% NSR on the entire Las Conchitas
area. We look forward to a maiden resource at Las Conchitas and cash flow from this region as Mako
intends to start mining and processing mineralized material as a part of a metallurgical program later this
quarter. Cash flow coming from the stream/royalties is expected to buttress our industry leading dividend
of US$0.05/share and to aggressively purchase our shares through the Company's 3.5 million share
normal course issuer bid as we believe our current share price is well below fair value given the recent
news at Spring Valley."
For complete information on these results, please refer to Mako's news releases issued on July, 27,
2023 and August 2, 2023, which are available on its profile at
www.sedarplus.ca
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 three 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; an up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County,
Nevada; and a 100% interest in the Gavilanes Silver Project located in Durango State, Mexico.
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.
For further information:
Paolo Lostritto, CEO, tel. 416-602-2645 or Akiba Leisman, Executive
Chairman of the Board, tel. 917-558-5289.
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 and
that maiden resources at Las Conchitas will be published in 2023. 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 and that maiden resources at Las Conchitas will be
published in 2023. 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 and that
maiden resources at Las Conchitas will be published in 2023. 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/175981