Drilling at Las Conchitas Extends Near Surface, High-Grade GOLD Mineralization, Highlighted BY Intercepts of 56.8 G/T GOLD over 1.4 Meters and 44.6 G/T GOLD over 0.7 Meter at the Mango Zone
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January 6, 2020
PRESS RELEASE - #20-1
TSX-V: MKO
DRILLING AT LAS CONCHITAS EXTENDS NEAR SURFACE, HIGH-GRADE GOLD
MINERALIZATION, HIGHLIGHTED BY INTERCEPTS OF 56.8 g/t GOLD OVER 1.4
METERS AND 44.6 g/t GOLD OVER 0.7 METER AT THE MANGO ZONE
Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “Company”) is pleased to report positive drill results from the
Las Conchitas area of its wholly-owned San Albino-Murra property located in Nueva Segovia, Nicaragua. The Las
Conchitas area is located approximately 2.5 kilometers south of the fully permitted San Albino gold project currently
under construction.
The goal of the 2019 drill program at Las Conchitas was to confirm near surface, shallow dipping, high-grade gold
mineralization previously encountered in trenches and drill holes across eight separate gold bearing zones and to
prioritize targets to begin delineating a maiden resource at Las Conchitas. The Company completed 81 shallow drill
holes totaling 5,994.60 meters (“m”) within the Las Conchitas area in 2019 (see the attached map).
Akiba Leisman, Chief Executive Officer of Mako states “our 2019 Las Conchitas drilling was designed to prioritize
drilling targets to the south of our San Albino gold project currently under construction. The surface area with known
gold mineralization at Las Conchitas is already larger than that of San Albino, and we have had numerous near surface
intercepts of over one ounce gold at the Mango Zone, which has become our most advanced target. In 2020, drilling
at Las Conchitas will be focused on delineating a maiden resource at the Mango Zone.”
This press release contains results from 21 holes totaling 1,794.90 m drilled into five zones. Results from the 2019
drill program at Las Conchitas were previously reported in press releases dated May 6, 2019, May 21, 2019, August
19, 2019 and September 10, 2019. There are 19 additional drill holes still awaiting assay results from the laboratory
as the Company has prioritized receiving assays from the recently completed 15,312.52-meter San Albino infill drill
program to the north.
The highest grade interval reported in this press release was in drill hole LC19-135, which intersected 56.80 g/t Au
and 70.3 g/t Ag over 1.4 m (see the attached cross and long sections). LC19-135 successfully tested the southwest
extension of the Mango Zone for an additional 30 m from hole LC11-01 which intersected 62.96 g/t Au and 61.7 g/t
Ag over 3.0 meters (see press release dated February 22, 2012) and confirmed a 140 m down dip extension from the
surface exposure observed in trench LC11-TR01 (see press release dated February 25, 2013). LC19-135 is
approximately 52 meters to the north of LC19-70 which intersected 376.49 g/t Au and 103 g/t Ag over 1.0 meters
(see press release dated May 6, 2019).
Additionally, drill hole LC19-141, which was collared 130 m along strike from drill hole LC11-01 (see press release
dated February 22, 2012), intersected three strongly mineralized intervals as follows:
Upper Mango Zone - 4.11 g/t Au and 4.1 g/t Ag over 0.5 m from 27.5 m to 28 m downhole
Mango Zone - 3.22 g/t Au and 4.5 g/t Ag over 0.5 m from 61 m to 61.5 m downhole
Mango Zone - 44.6 g/t Au and 43.1 g/t Ag over 0.7 m from 68.2 m to 68.9 m downhole
Drilling at the Mango Zone has confirmed high-grade, near surface gold mineralization and remains open both at
depth and along strike.
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Furthermore, drill hole LC19-124 was designed to test the southwest extension of the Intermediate Zone, which
intersected 7.20 g/t Au and 14.2 g/t Ag over 21.3 meters, including 28.45 g/t Au and 53.7 g/t Ag over 5.0 meters (see
press release dated September 11, 2013) and to test the down dip extension of the Mango Zone further downhole.
LC19-124 intersected two voids where the southwest extension of the Intermediate Zone was projected and
intersected two intervals representing the Mango Zone of 8.68 g/t Au and 24.9 g/t Ag over 0.8 m and 26.8 g/t Au and
50.1 g/t Ag over 0.7 m, respectively. The second interval contains visible gold and intersected mineralization at a
vertical depth of 155 meters.
Las Conchitas Assay Results Reported In This Press Release
Drill
Hole
From
(m)
To
(m)
Width
(m)*
Au
(g/t)
Ag
(g/t) Interval Average/Comments Zone
LC19-108
6.00 7.50 1.50 0.21 0.5
Anomalous Values
California
13.00 14.00 1.00 0.13 0.4
47.50 48.50 1.00 0.12 0.7
LC19-109 13.00 14.00 1.00 0.15** 0.4 Anomalous Values
16.00 17.50 1.50 0.10** 0.3 Anomalous Values
LC19-110 24.40 25.20 0.80 5.32** 7.8 5.32 g/t Au and 0.4 g/t Ag over 0.8 m
LC19-111 33.60 35.00 1.40 0.17** 0.7 Anomalous Values
LC19-112
29.50 30.60 1.10 0.10 0.6
Anomalous Values 42.00 43.00 1.00 0.19** 0.3
44.00 45.00 1.00 0.16** <0.3
LC19-113 No Significant Results
LC19-114 36.70 37.90 1.20 0.22** 0.8 Anomalous Values
El Portillo
LC19-115
22.50 23.50 1.00 0.34 0.3 Anomalous Values
48.80 50.00 1.20 5.7** 10.9
5.70 g/t Au and 10.9 g/t Ag over 1.2 m 50.00 51.00 1.00 0.13** 0.5
51.00 51.90 0.90 0.95** 0.8
LC19-116 No Significant Results
LC19-117 52.50 53.80 1.30 0.34** 2.8 Anomalous Values
LC19-118
40.50 41.50 1.00 0.13** 1.6
1.81 g/t Au and 3.4 g/t Ag over 1.0 m
41.50 42.50 1.00 0.08** 0.8
42.50 43.50 1.00 0.31** 1.0
43.50 44.50 1.00 1.81** 3.4
44.50 45.50 1.00 0.22** 1.0
45.50 46.50 1.00 0.20** 0.6
46.50 47.50 1.00 0.19** 0.5
LC19-119 No Significant Results
LC19-120
9.50 10.60 1.10 0.10** 2.5
Anomalous Values La Fortuna
10.60 12.00 1.40 0.44** 2.6
13.50 14.50 1.00 0.15** 0.6
40.00 41.60 1.60 0.34** 7.3
47.50 49.00 1.50 0.55 11.0
56.60 57.20 0.60 0.20** 43.2
57.20 28.20 1.00 0.16** 55.8
60.30 61.40 1.10 0.32** 1.3
67.30 68.50 1.20 0.13** 0.4
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LC19-121 25.00 26.00 1.00 0.35** 0.6 Anomalous Values 29.80 31.00 1.20 0.38 0.5
LC19-122 5.50 7.00 1.50 0.11 0.3 Anomalous Values
LC19-123 Results Pending
LC19-124
27.70 28.70 1.00 Void SW
Extension of
Intermediate
Zone 41.40 42.50 1.10 Void
199.80 200.60 0.80 8.68** 24.9 8.68 g/t Au and 24.9 g/t Ag over 0.8 m Down Dip
Extension of
Mango Zone 202.70 203.40 0.70 26.80** 50.1 26.80 g/t Au and 50.1 g/t Ag over 0.7 m
LC19-125 Results Pending
SW
Extension of
Intermediate
Zone
LC19-126 Results Pending
LC19-127 Results Pending
LC19-128 Results Pending
LC19-129 Results Pending
LC19-130
92.20 93.70 1.50 0.80 1.2 Anomalous Values / Partially Received
Results
Mango Zone
94.90 96.10 1.20 0.18 0.5
96.10 97.00 0.90 0.10 0.7
LC19-131 No Significant Results
LC19-132 96.00 97.10 1.10 2.15 5.1 2.15 g/t Au and 5.1 g/t Ag over 1.1 m
LC19-133 Results Pending
LC19-134 Results Pending
LC19-135 62.10 63.50 1.40 56.80 70.3 56.80 g/t Au and 70.3 g/t Ag over 1.4 m
LC19-136 Results Pending
LC19-137 Results Pending
LC19-138 Results Pending
LC19-139 Results Pending
LC19-140 Results Pending
LC19-141
27.5 28 0.5 4.11 4.1 4.11 g/t Au and 4.1 g/t Ag over 0.5 m
61 61.5 0.5 3.22 4.5 3.22 g/t Au and 4.5 g/t Ag over 0.5 m
68.2 68.9 0.7 44.6 43.1 44.6 g/t Au and 43.1 g/t Ag over 0.7 m
LC19-142 Results Pending
LC19-143 Results Pending
LC19-144 Results Pending
LC19-145 Results Pending
LC19-146 Results Pending
LC19-147 Results Pending
The mineralized intervals shown above utilize a 1.0 g/t gold cut-off grade with not more than 1.0 meter of internal
dilution. *Lengths are reported as core lengths. True widths vary depending on drill hole dip, the veins are shallow
dipping and typical true widths are 80-100% of the downhole width. **Indicates assays determined using the metallic
screening method.
450mRL 350mRL 400mRL 500mRL 550mRL 600mRL 650mRL
700mRL 650mRL
1,511,000mN
1,511,000mN 597,400mE597,200mE
597,400mE
700mRL
597,200mE
350mRL
597,000mE
597,000mE
1,510,800mN
600mRL 500mRL 550mRL 400mRL 450mRL
San Albino - Murra Property
Nueva Segovia, Nicaragua
Scale: 1 : 2,500Date :January 5, 2020
Autor: Gessner Grillo
Projection: UTM WGS84, Zone 16N
Drawn by: Emir Zeledon
SCHEMATIC
LONG SECTION
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Sampling, Assaying, QA/QC and Data Verification
Drill core was continuously sampled from inception to termination of the drill hole. Sample intervals were typically
one meter. Drill core diameter was HQ (6.35 centimeters). Geologic and geotechnical data was captured into a
digital database, core was photographed, then one-half split of the core was collected for analysis and one-half was
retained in the core library. Samples were kept in a secured logging and storage facility until such time that they
were delivered to the Managua facilities of Bureau Veritas and pulps were sent to the Bureau Veritas laboratory in
Vancouver for analysis. Gold was analyzed by standard fire assay fusion, 30 gram aliquot, AAS finish. Samples
returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric method. Due to the presence of
coarse gold, the Company has used 500-gram metallic screened gold assays for analyzing samples that yielded a fire
assay result greater than 1 g/t, and samples immediately above and below drilled veins. This method, which analyzes
a larger sample, can be more precise in high-grade vein systems containing coarse gold. All reported drill results in
this press release used the metallic screening method. The Company follows industry standards in its QA&QC
procedures. Control samples consisting of duplicates, standards, and blanks were inserted into the sample stream at
a ratio of 1 control sample per every 10 samples. Analytical results of control samples confirmed reliability of the
assay data. No top cut has been applied to the reported assay results.
Qualified Person
John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under National Instrument 43-101) has read
and approved the technical information contained in this press release. Mr. Kowalchuk is a senior geologist and a
consultant to the Company.
On behalf of the Board,
Akiba Leisman
Chief Executive Officer
About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration firm. The Company is developing
its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako’s primary objective is to bring San Albino
into production quickly and efficiently, while continuing exploration of prospective targets in Nicaragua.
For further information: Mako Mining Corp., Akiba Leisman, Chief Executive Officer, Telephone: 203-862-7059,
E-mail: [email protected] or visit our website at www.makominingcorp.com and SEDAR
www.sedar.com.
Forward-Looking Statements: Some of the statements contained herein may be considered “forward-looking information”
within the meaning of applicable securities laws. Forward-looking information is based on certain expectations and
assumptions, including that the results pending from the remaining nineteen additional drill holes for which the Company is
awaiting results from the laboratory will support strike and dip continuity of gold mineralization; that the Company’s exploration
programs will be successfully completed; that a maiden resource at the Mango Zone may be delineated as a result of the
Company’s 2020 drilling; and that the Company will be successful in any financing plans necessary for drilling and construction
at the San Albino project. Such forward-looking information is subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation,
the risks that additional satisfactory exploration results at the Mango zone will not be obtained; the risk that the Company’s
drilling at Las Conchitas in 2020 will not delineate a maiden resource at the Mango Zone; that exploration results will not
translate into the discovery of an economically viable deposit; risks and uncertainties relating to political risks involving the
Company’s exploration and development of mineral properties interests; the inherent uncertainty of cost estimates and the
potential for unexpected costs and expense; commodity price fluctuations, the inability or failure to obtain adequate financing
on a timely basis and other risks and uncertainties. Such information contained herein represents management’s best judgment
as of the date hereof, based on information currently available and is included for the purposes of providing investors with the
Company’s plans and expectations at its San Albino project and the Las Conchitas area, and may not be appropriate for other
purposes.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.