Expansion Drilling at the SW Pit Intersects 64.9 g/t Au and 87.72 g/t Ag over 2.00m (Estimated True Width) 50m From Surface
LEGAL*56903717.1
595 Burrard Street, Suite 2833
Vancouver, BC V7X 1K8
Tel: (604) 646-1580
www.makominingcorp.com
TSX-V: MKO | OTCQX: MAKOF
Suite 700 - 838 West Hastings St.
Vancouver, BC - V6C 0A6
IR: (647) 203-8793
www.makominingcorp.com
TSX-V: MKO | OTCQX: MAKOF
September 6th, 2022
TSX-V: MKO; OTCQX: MAKOF
Expansion Drilling at the SW Pit Intersects 64.9 g/t Au and 87.72 g/t Ag over 2.00m
(Estimated True Width) 50m From Surface
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to
report additional high -grade drill results from an area adjacent to the current open pit mining
operations at the San Albino West Pit in northern Nicaragua. Two of the Company’s seven drill
rigs are currently focused on this SW Pit area.
The objectives of the SW Pit drilling program are to: 1) increase the overall size of the San Albino
Gold Deposit, which remains open along strike and at depth ; 2) test extensions of th e
mineralization beyond the permitted pit limit; and 3) provide information necessary to begin mining
this area early next year.
To date a total of 32,436 meters (m) in 259 drill holes (2011-2022) have been completed in the
area. Most of the drilling intersected mineralization within, or immediately outside, the current
permitted pit.
All intersections described in this press release fall outside the 2020 Mineral Resource Estimate
(“2020 Resource”).
A technical report for the current mineral resource estimate at San Albino is available under the
Company’s SEDAR profile at www.sedar.com and available on the Company’s website
at www.makominingcorp.com (see press release dated October 19, 2020).
Highlights of selected intercepts of the high-grade gold mineralization include:
• 64.90 g/t Au and 87.7 g/t Ag over 2.00m (Estimated True Width-ETW)
• 34.03 g/t Au and 26.8 g/t Ag over 2.20m (2.1m ETW)
• 36.50 g/t Au and 51.3 g/t Ag over 1.10m (0.7m ETW)
• 68.80 g/t Au and 60.6 g/t Ag over 0.60m (0.5m ETW)
• 15.09 g/t Au and 20.5 g/t Ag over 2.70m (2.4m ETW)
Akiba Leisman, CEO of Mako states, “the 2020 Resource only included a de minimis number of
gold ounces in the SW Pit area, as our team was getting a better handle on the geological model
for this zone. Over the course of the last 2 years, the geological controls of the SW Pit have been
LEGAL*56903717.1
substantively better understood and have been validated by these drill results, and those released
earlier this year. Hitting 64.9 g/t Au over 2m (ETW) 50m from surface and 71m up-dip from another
potentially open-pittable intersection of 42.9 g/t Au over 4.1 m (ETW), bodes well for early next
year as we get the SW Pit ready to be our next mining area. Over the course of the next week,
we will also be releasing drill results at Las Conchitas which we also plan to begin mining next
year.”
Details of select intersects:
Drill hole SA22-626 intersected multiple intervals of high-grade, near surface gold mineralization,
including 64.90 g/t Au and 87.7 g/t Ag over 2m (ETW) , 50m below surface . This intersect is
approximately 12m outside the current permitted pit limit and 71m up dip from drill hole SA22-615
which intersected 42.91 g/t Au and 38.3 g/t Ag over 4.50m (4.1m ETW) (see press release dated
June 22, 2022). In addition, this hole intersected a mineralized interval grading 4.01 g/t Au and
32.3 g/t Ag over 1.50m (1.3m ETW), 21m from the surface indicating that multiple mineralized
structures are open to the south.
Two drill holes, SA22 -662 and SA22-663, collared on the same drill pad and 30m along strike
from drill hole SA22-615 (described above), intersected multiple mineralized intervals (see table
below), including 34.03 g/t Au and 26.8 g/t Ag over 2.20m (2.1m ETW) and 36.50 g/t Au and 51.3
g/t Ag over 1.10m (0.7m ETW), at vertical distance from surface at 32m and 22m respectively.
Both drill hole s confirmed continuity of high -grade mineralization to the NE along strike and
indicate potential to further expand the open pit mineral resources.
In addition, drill hole SA22-662 intersected 1.00 g/t Au and 8.7 g/t Ag over 0.5m (ETW) and 14.90
g/t Au and 23.6 g/t Ag over 1m (ETW), 28m and 65m below surface respectively. Drill hole SA22-
663 intersected an additional high-grade interval of 9.09 g/t Au and 11.3 g/t Ag over 2m (1.2m
ETW), 36m below surface.
Several drill holes were designed to test the down dip extension of multiple high-grade mineralized
zones. SA22-622 intersected three mineralized intervals (see table below), including 68.80 g/t Au
and 60.6 g/t Ag over 0.6m (0.5m ETW) 95m from surface. Drill hole SA22-623 also intersected
multiple intervals including 15.09 g/t Au and 20.5 g/t Ag over 2.7m (2.4m ETW), 107m below the
surface and conf irmed the high-grade mineralization remains open down dip. Drill intersection
modeling shows irregular branching networks or anastomosing veins composed of two or three
separate veins. These anastomosing veins could potentially be treated as a single wide zone
amenable to open pit mining.
In addition, the Company has completed the initial phase of drilling at the San Albino North target
which lies immediately to the north of the San Albino Gold Deposit strad dling two concessions,
San Albino-Murra and Potrerillos. Fifteen drill holes totaling 2,552m have been completed at the
Cerro Piedra Negra prospect . Three drill holes (see table below) intersected intervals above an
internal cut-off grade (1.0 g/t Au), including hole PO22-05 which intersected 13.50 g/t Au and 7.3
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g/t Ag over 1.20m (0.7m ETW). Eight drill holes intersected intervals below the cut-off grade and
results for two drill holes are still pending.
Table 1: Assay Results Reported in This Press Release
Area Drill hole From
(m)
To
(m)
Width
(m) Au (g/t) Ag (g/t) Interval ETW
(m)
West Pit
SA22-
GEOTEC-07 139.7 140.8 1.1 3.7 16.5 3.67 g/t Au and 16.5 g/t Ag over 1.10m 0.9
SA22-596 to
SA22-599 Pending
16.7 17.3 0.6 31.5 33.7 31.50 g/t Au and 33.7 g/t Ag over 0.60m 0.6
24.3 24.9 0.6 2.5 3.1 2.52 g/t Au and 3.1 g/t Ag over 0.60m 0.6
52.0 52.5 0.5 11.4 29.0
52.5 53.0 0.5 3.5 7.4
74.3 74.8 0.5 14.4 8.8 14.4 g/t Au and 8.8 g/t Ag over 0.50m 0.5
91.4 91.9 0.5 2.6 1.5 2.55 g/t Au and 1.5 g/t Ag over 0.50m 0.4
93.4 93.9 0.5 6.9 9.5 6.85 g/t Au and 9.5 g/t Ag over 0.50m 0.4
8.2 9.0 0.8 1.1 1.1 1.06 g/t Au and 1.1 g/t Ag over 0.80m 0.6
76.9 77.3 0.4 2.0 8.7 1.99 g/t Au and 8.7 g/t Ag over 0.40m 0.4
3.7 4.5 0.8 1.4 5.2 1.39 g/t Au and 5.2 g/t Ag over 0.80m 0.6
10.0 11.0 1.0 2.4 5.1 2.43 g/t Au and 5.1 g/t Ag over 1.00m 0.9
18.2 19.1 0.9 5.6 29.0 5.57 g/t Au and 29.0 g/t Ag over 0.90m 0.8
92.4 93.1 0.7 3.9 6.1 3.94 g/t Au and 6.1 g/t Ag over 0.70m 0.7
36.8 37.3 0.5 5.7 18.5
37.3 37.8 0.5 0.2 1.6
37.8 38.3 0.5 0.2 1.6
38.3 39.0 0.7 7.2 25.6
113.3 113.9 0.6 1.5 7.2 1.53 g/t Au and 7.2 g/t Ag over 0.60m 0.5
120.9 121.5 0.6 68.8 60.6 68.80 g/t Au and 60.6 g/t Ag over 0.60m 0.5
23.1 23.8 0.7 2.3 12.8 2.28 g/t Au and 12.8 g/t Ag over 0.70m 0.6
102.3 103.2 0.9 24.0 27.6 24.00 g/t Au and 27.6 g/t Ag over 0.90m 0.8
105.8 106.4 0.6 19.4 8.8 19.40 g/t Au and 8.8 g/t Ag over 0.60m 0.5
108.4 109.2 0.8 1.7 1.5
109.2 110.1 0.9 17.2 9.6
110.1 111.1 1.0 23.9 45.5
SA22-624 94.0 94.5 0.5 4.2 8.5 4.21 g/t Au and 8.5 g/t Ag over 0.50m 0.5
11.5 12.2 0.7 1.6 15.3 1.55 g/t Au and 15.3 g/t Ag over 0.70m 0.7
14.4 15.0 0.6 3.9 7.4
15.0 15.6 0.6 0.0 1.9
15.6 16.3 0.7 1.8 5.1
20.5 21.0 0.5 6.5 69.5
21.0 21.5 0.5 2.3 13.3
21.5 22.0 0.5 3.3 14.2
52.9 53.3 0.4 4.8 10.1
53.3 54.2 0.9 79.7 101.0
54.2 54.9 0.7 80.2 115.0
SA22-627 to
SA22-632 Pending
SA22-633 72.6 73.2 0.6 13.5 12.6 13.50 g/t Au and 12.6 g/t Ag over 0.60m 0.6
SA22-634 to
SA22-643 Pending
SA22-657 129.6 130.2 0.6 33.9 22.7 33.90 g/t Au and 22.7 g/t Ag over 0.60m 0.5
SA22-658 124.9 125.5 0.6 9.6 33.9 9.56 g/t Au and 33.9 g/t Ag over 0.60m 0.6
SA22-659 to
SA22-661 Pending
27.7 28.2 0.5 1.0 8.7 1.00 g/t Au and 8.7 g/t Ag over 0.50m 0.5
32.1 33.0 0.9 64.8 25.0
33.0 33.8 0.8 0.1 1.1
33.8 34.3 0.5 33.0 71.3
65.0 66.0 1.0 14.9 23.6 14.90 g/t Au and 23.6 g/t Ag over 1.00m 1.0
23.3 24.4 1.1 36.5 51.3 36.50 g/t Au and 51.3 g/t Ag over 1.10m 0.7
36.8 37.8 1.0 9.5 8.2
37.8 38.8 1.0 8.7 14.3
SA22-664 to
SA22-667 Pending
SA22-662 34.03 g/t Au and 26.8 g/t Ag over 2.20m 2.1
SA22-663 9.09 g/t Au and 11.3 g/t Ag over 2.00m 1.2
SA22-626
4.01 g/t Au and 32.3 g/t Ag over 1.50m 1.3
64.9 g/t Au and 87.7 g/t Ag over 2.00m 2.0
SW Pit
SA22-616
7.44 g/t Au and 18.2 g/t Ag over 1.00m 0.7
SA22-618
SA22-620
SA22-621
SA22-622
3.64 g/t Au and 13.1 g/t Ag over 2.20m 1.9
SA22-623
15.09 g/t Au and 20.5 g/t Ag over 2.70m 2.4
SA22-625 1.89 g/t Au and 4.8 g/t Ag over 1.90m
(Abandoned) 1.8
LEGAL*56903717.1
The mineralized intervals shown above utilize a 1.0 g/t gold cut -off grade with not more than 1.0m of internal dilution.
*Widths are reported as drill core lengths. **Estimated True Width is estimated from interpreted sections. In addition
to the drill holes presented in the table above, the following drill holes returned only anomalous values: SA21 -561,
SA21-571, SA22-617, SA22-650 to SA22-653, SA22-655 to SA22-656, SA22-590 to SA22-593 and PO22-01 to PO22-
04
Area Drill hole From
(m)
To
(m)
Width
(m) Au (g/t) Ag (g/t) Interval ETW
(m)
West Pit
SA22-
GEOTEC-07 139.7 140.8 1.1 3.7 16.5 3.67 g/t Au and 16.5 g/t Ag over 1.10m 0.9
SA22-596 to
SA22-599 Pending
16.7 17.3 0.6 31.5 33.7 31.50 g/t Au and 33.7 g/t Ag over 0.60m 0.6
24.3 24.9 0.6 2.5 3.1 2.52 g/t Au and 3.1 g/t Ag over 0.60m 0.6
52.0 52.5 0.5 11.4 29.0
52.5 53.0 0.5 3.5 7.4
74.3 74.8 0.5 14.4 8.8 14.4 g/t Au and 8.8 g/t Ag over 0.50m 0.5
91.4 91.9 0.5 2.6 1.5 2.55 g/t Au and 1.5 g/t Ag over 0.50m 0.4
93.4 93.9 0.5 6.9 9.5 6.85 g/t Au and 9.5 g/t Ag over 0.50m 0.4
8.2 9.0 0.8 1.1 1.1 1.06 g/t Au and 1.1 g/t Ag over 0.80m 0.6
76.9 77.3 0.4 2.0 8.7 1.99 g/t Au and 8.7 g/t Ag over 0.40m 0.4
3.7 4.5 0.8 1.4 5.2 1.39 g/t Au and 5.2 g/t Ag over 0.80m 0.6
10.0 11.0 1.0 2.4 5.1 2.43 g/t Au and 5.1 g/t Ag over 1.00m 0.9
18.2 19.1 0.9 5.6 29.0 5.57 g/t Au and 29.0 g/t Ag over 0.90m 0.8
92.4 93.1 0.7 3.9 6.1 3.94 g/t Au and 6.1 g/t Ag over 0.70m 0.7
36.8 37.3 0.5 5.7 18.5
37.3 37.8 0.5 0.2 1.6
37.8 38.3 0.5 0.2 1.6
38.3 39.0 0.7 7.2 25.6
113.3 113.9 0.6 1.5 7.2 1.53 g/t Au and 7.2 g/t Ag over 0.60m 0.5
120.9 121.5 0.6 68.8 60.6 68.80 g/t Au and 60.6 g/t Ag over 0.60m 0.5
23.1 23.8 0.7 2.3 12.8 2.28 g/t Au and 12.8 g/t Ag over 0.70m 0.6
102.3 103.2 0.9 24.0 27.6 24.00 g/t Au and 27.6 g/t Ag over 0.90m 0.8
105.8 106.4 0.6 19.4 8.8 19.40 g/t Au and 8.8 g/t Ag over 0.60m 0.5
108.4 109.2 0.8 1.7 1.5
109.2 110.1 0.9 17.2 9.6
110.1 111.1 1.0 23.9 45.5
SA22-624 94.0 94.5 0.5 4.2 8.5 4.21 g/t Au and 8.5 g/t Ag over 0.50m 0.5
11.5 12.2 0.7 1.6 15.3 1.55 g/t Au and 15.3 g/t Ag over 0.70m 0.7
14.4 15.0 0.6 3.9 7.4
15.0 15.6 0.6 0.0 1.9
15.6 16.3 0.7 1.8 5.1
20.5 21.0 0.5 6.5 69.5
21.0 21.5 0.5 2.3 13.3
21.5 22.0 0.5 3.3 14.2
52.9 53.3 0.4 4.8 10.1
53.3 54.2 0.9 79.7 101.0
54.2 54.9 0.7 80.2 115.0
SA22-627 to
SA22-632 Pending
SA22-633 72.6 73.2 0.6 13.5 12.6 13.50 g/t Au and 12.6 g/t Ag over 0.60m 0.6
SA22-634 to
SA22-643 Pending
SA22-657 129.6 130.2 0.6 33.9 22.7 33.90 g/t Au and 22.7 g/t Ag over 0.60m 0.5
SA22-658 124.9 125.5 0.6 9.6 33.9 9.56 g/t Au and 33.9 g/t Ag over 0.60m 0.6
SA22-659 to
SA22-661 Pending
27.7 28.2 0.5 1.0 8.7 1.00 g/t Au and 8.7 g/t Ag over 0.50m 0.5
32.1 33.0 0.9 64.8 25.0
33.0 33.8 0.8 0.1 1.1
33.8 34.3 0.5 33.0 71.3
65.0 66.0 1.0 14.9 23.6 14.90 g/t Au and 23.6 g/t Ag over 1.00m 1.0
23.3 24.4 1.1 36.5 51.3 36.50 g/t Au and 51.3 g/t Ag over 1.10m 0.7
36.8 37.8 1.0 9.5 8.2
37.8 38.8 1.0 8.7 14.3
SA22-664 to
SA22-667 Pending
SA22-662 34.03 g/t Au and 26.8 g/t Ag over 2.20m 2.1
SA22-663 9.09 g/t Au and 11.3 g/t Ag over 2.00m 1.2
SA22-626
4.01 g/t Au and 32.3 g/t Ag over 1.50m 1.3
64.9 g/t Au and 87.7 g/t Ag over 2.00m 2.0
SW Pit
SA22-616
7.44 g/t Au and 18.2 g/t Ag over 1.00m 0.7
SA22-618
SA22-620
SA22-621
SA22-622
3.64 g/t Au and 13.1 g/t Ag over 2.20m 1.9
SA22-623
15.09 g/t Au and 20.5 g/t Ag over 2.70m 2.4
SA22-625 1.89 g/t Au and 4.8 g/t Ag over 1.90m
(Abandoned) 1.8
213.5 214.0 0.5 8.9 38.4
214.0 214.5 0.5 0.1 0.5
214.5 215.0 0.5 0.0 0.2
215.0 215.5 0.5 1.1 0.4
SA22-589 34.5 35.5 1.0 2.2 9.8 2.22 g/t Au and 9.8 g/t Ag over 1.00m 0.8
SA22-594 to
SA22-595 Pending
PO22-05 42.3 43.5 1.2 13.5 7.3 13.50 g/t Au and 7.3 g/t Ag over 1.20m 0.7
PO22-06 to
PO22-07 Pending
SA North
SA22-588 2.54 g/t Au and 9.9 g/t Ag over 2.00m 1.9
LEGAL*56903717.1
Figure 1. San Albino Mine Drilling Program
LEGAL*56903717.1
Figure 2. Schematic Cross Section
Sampling, Assaying, QA/QC and Data Verification
Drill core was continuously sampled from inception to termination of the entire 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. Drill core
samples were kept in a secured logging and storage facility until such time that they were
delivered to the Managua facil ities of Bureau Veritas and pulps were sent to the Bureau Veritas
laboratory in Vancouver for analysis. Gold was analyzed by standard fire assay fusion, 30gram
aliquot, AAS finish. Samples returning over 10.0 g/t gold are analyzed utilizing standard Fire
Assay-Gravimetric 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.
Qualified Person
LEGAL*56903717.1
John M. Kowalchuk, P.Geo, a geologist and qualified person (as defined under NI 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
CEO
About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The
Company operates the high -grade San Albino gold mine in Nueva Segovia, Nicaragua, which
ranks as one of the highest -grade open pit gold mines globally. Mako’s primary objective is to
operate San Albino profitably and fund exploration of prospective targets on its district-scale land
package.
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 Information:
Statements contained herein, other than historical fact, may be considered “forward -looking
information” within the meaning of applicable securities laws. The forward -looking information
contained herein is based on the Company’s plans and certain expectat ions and assumptions,
and includes, without limitation, the objectives of the SW Pit drilling program; that management
believes that an increase in the mineral resources at the SW Pit areas at San Albino is likely as a
result of the drilling program; the Company is getting the SW Pit ready to be its next mining area;
that over the course of the next week, the Company will be releasing drill results at Las Conchitas
which it also plans to begin mining next year; and that the Company can operate San Albino
profitably in order to fund exploration of prospective targets on its district -scale land package.
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 risk that the ongoing results of the drilling program
do not result in a significant increase in mineral resources at the SW Pit areas; that the SW Pit
does not become the Company’s next mining area; that the timing for release of additional drilling
results is not as stated herein; political risks and uncertainties involving the Company’s exploration
properties; the inherent uncertainty of cost estimates and the potential for unexpected costs and
expense; commodity price fluctuations and other risks and uncertainties as disclosed in the
Company’s public disclosure filings on SEDAR at www.sedar.com. Such information contained
herein represents management’s best judgment as of th e date hereof, based on information
LEGAL*56903717.1
currently available and is included for the purposes of providing investors with the Company’s
expectations regarding the Company’s drilling program at San Albino gold project, and may not
be appropriate for other purpos es. Mako does not undertake to update any forward -looking
information, except in accordance with applicable securities laws.
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.