Infill Drilling at San Albino Expands High-Grade Zone, Highlighted BY Intercept of 50.78 G/T GOLD over 5.1 Meters, Including 173.3 G/T GOLD over 1.0 Meter (Estimated True Widths)
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595 BurrardStreet, Suite 2833
Vancouver , BC V7X 1K8
Tel: (604) 646-1580
www.makominingcorp.com
TSX-V: MKO | OTCQB: MAKOF
September 26, 2019
PRESS RELEASE - #19-16
TSX-V: MKO
INFILL DRILLING AT SAN ALBINO EXPANDS HIGH-GRADE ZONE, HIGHLIGHTED BY
INTERCEPT OF 50.78 g/t GOLD OVER 5.1 METERS, INCLUDING 173.3 g/t GOLD OVER 1.0
METER (ESTIMATED TRUE WIDTHS)
Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “Company”) is pleased to report further positive results from
the infill drilling program at its wholly-owned San Albino gold project (“San Albino”) located in Nueva Segovia,
Nicaragua.
To date, 5,072 m of infill grade-control drilling has been completed in 115 diamond drill holes, with assays reported
for 39 of these holes. A breakdown of the results is as follows: 21 drill holes intersected the San Albino Zone as
projected; 8 drill holes encountered historic workings where the San Albino Zone was projected ; 8 drill holes
intersected historic dump material in the shallow projections of the San Albino Zone; and 2 holes did not intersect
significant results where the San Albino Zone was projected. The Company views these results positively, as the
geological model, which was reinterpreted earlier this year, is leading to highly predicable results.
One of the main objectives of this program is to find the strike and dip extension of the near surface and high-grade
Porcelana-style mineralization encountered in hole SA19-155 of 60.72 g/t Au and 66.4 g/t Ag over 3.1 m (estimated
true width) (see press release dated September 4, 2019). After reallocating one drill rig for this purpose, Mako is
pleased to report initial results where hole SA19-207 intersected 50.78 g/t Au and 13.0 g/t Ag over 5.3 m (5.1 m
estimated true width), including 173.3 g/t Au and 26.0 g/t Ag over 1.1 m (1.0 m estimated true width). This intercept
was 18 m below surface and within the open pit mine plan for San Albino.
SA19-207 was 35 m along strike from SA19-155. The texture and visual appearance of SA19-207 is similar to
SA19-155, and confirms geological continuity of high-grade mineralization between the two holes, which bodes well
as the Company finalizes the initial mine plan for San Albino later this year. Importantly, this area of near surface
high-grade is still open along strike.
Furthermore, hole SA19-194 intersected 28.36 g/t Au and 44.40 g/t Ag over 5.4 m (4.8 m estimated true width). This
intercept was approximately 11 m below surface and within the initial open pit mine plan for San Albino.
Akiba Leisman, Chief Executive Officer of Mako states “we are more than 70% complete with the infill drill program
at San Albino and the results have come in beyond our expectations. Specifically, the wide, multi-ounce intercepts
within 20 meters from surface encountered in holes SA19-155 and SA19-207 are extraordinary. We are evaluating
the feasibility of bringing these ounces into our mine plan earlier while we wait for additional assay results. Few
open pit mines exist in the world today with grades such as these, and we are excited to see further results as we
continue advancing the project into production for late summer next year.”
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2019 Infill Drilling Program Assay Results
Drill Hole
From
(m)
To
(m)
Width
(m)
Au
(g/t)
Ag
(g/t)
Zone /
Comments Interval Averages
True
Width
(m)***
SA19-160
0.50 1.50 1.00 3.52* 10.9
Historic Dump** --- --- 1.50 2.50 1.00 2.30* 3.5
2.50 3.90 1.40 3.79* 8.4
3.90 5.40 1.50 --- --- Void --- ---
SA19-161
0.00 1.50 1.50 0.41 1.1
Historic Dump** --- ---
1.50 3.00 1.50 1.09 3.5
3.00 4.50 1.50 0.78 2.4
4.50 6.00 1.50 0.47 1.0
6.00 7.50 1.50 1.99 2.0
7.50 8.50 1.00 3.15 8.2
SA19-162 24.60 27.40 2.80 --- --- Void --- ---
SA19-163
0.00 1.00 1.00 2.73 45.9
Historic Dump** ---
---
1.00 2.00 1.00 3.83 95.0
2.00 3.50 1.50 1.13 31.4
3.50 4.80 1.30 0.93 41.8
17.00 18.00 1.00 7.19* 31.7 San Albino Zone
7.19 g/t Au and 31.7
g/t Ag over 1 m 0.9
SA19-164
0.00 1.00 1.00 2.55 8.0
Historic Dump** --- ---
1.00 2.00 1.00 1.97 5.9
2.00 3.00 1.00 2.18 4.1
3.00 4.00 1.00 0.94 3.1
4.00 5.00 1.00 0.90 3.2
12.00 16.00 4.00 --- --- Void --- ---
SA19-165
0.00 1.00 1.00 2.99 9.1
Historic Dump** --- --- 1.00 2.00 1.00 2.42 16.9
2.00 3.00 1.00 2.24 3.5
28.50 29.50 1.00 5.70* 21.4
San Albino Zone 4.34 g/t Au and 35.3
g/t Ag over 3 m 2.4 29.50 30.50 1.00 5.13* 27.3
30.50 31.50 1.00 2.20* 57.2
SA19-166
0.00 1.00 1.00 2.65 6.1
Historic Dump** --- ---
1.00 2.00 1.00 2.75 12.1
2.00 3.00 1.00 4.41 9.1
3.00 4.00 1.00 1.02 9.7
4.00 5.00 1.00 2.43 12.5
5.00 6.00 1.00 4.69 20.4
6.00 7.50 1.50 4.17* 10.3 San Albino Zone 10.66 g/t Au and 25.0
g/t Ag over 2.5 m
7.50 8.50 1.00 22.48* 52.1 2.3
SA19-167
0.00 1.00 1.00 3.68 5.8
Historic Dump** --- --- 1.00 2.00 1.00 4.40 15.3
2.00 3.00 1.00 19.50 46.2
3.00 4.10 1.10 2.23* 15.9
SA19-168 30.10 30.60 0.50 16.60* 43.9 San Albino Zone
16.62 g/t Au and 22.0
g/t Ag over 0.5 m 0.5
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SA19-169 22.95 25.15 2.20 --- --- Void --- ---
SA19-170 18.50 19.50 1.00 7.84 * 37.1 San Albino Zone
7.84 g/t Au and 37.1
g/t Ag over 1 m 0.9
SA19-171
0.00 1.00 1.00 2.23 10.4 Historic Dump** --- ---
15.20 16.20 1.00 5.13 8.3
San Albino Zone 6.38 g/t Au and 12.5
g/t Ag over 3 m 3.0 16.20 17.20 1.00 10.50 19.9
17.20 18.20 1.00 3.51 9.3
SA19-172
0.00 1.00 1.00 3.10 8.5
Historic Dump** --- --- 1.00 2.50 1.50 3.85 9.5
2.50 4.00 1.50 6.86 16.5
4.00 5.50 1.50 1.19 3.5
15.30 16.30 1.00 6.04 16.1 San Albino Zone
6.04 g/t Au and 16.1
g/t Ag over 1 m 0.9
SA19-173
0.00 1.00 1.00 3.01 9.1
Historic Dump** --- ---
1.00 2.50 1.50 2.96 10.2
2.50 4.00 1.50 8.95 18.4
4.00 5.50 1.50 1.64 6.2
8.50 9.50 1.00 1.54 2.8
10.60 15.00 4.40 --- --- Void --- ---
SA19-174 0.00 1.50 1.50 6.84 62.0 Historic Dump** --- --- 1.50 3.00 1.50 21.90 59.9
SA19-175 0.00 1.00 1.00 14.90 17.6 Historic Dump** --- ---
1.00 8.00 7.00 --- --- Void --- ---
SA19-176 0.00 0.80 0.80 10.80 30.2 Historic Dump** --- --- 0.80 2.30 1.50 5.77 8.6
SA19-177
0.00 1.00 1.00 1.94 2.7 Historic Dump** --- ---
57.20 58.20 1.00 1.16 4.6 Naranjo zone
1.16 g/t Au and 4.6
g/t Ag over 1 m 0.9
SA19-178 24.80 25.80 1.00 34.93* 108.0 San Albino Zone 21.84 g/t Au and 66.8
g/t Ag over 2 m 1.9 25.80 26.80 1.00 8.74* 25.6
SA19-179 20.20 24.90 4.70 --- --- Void --- ---
SA19-180 20.00 21.00 1.00 1.38 3.5 San Albino Zone
1.38 g/t Au and 3.5
g/t Ag over 1 m 1
SA19-181
28.00 29.30 1.30 0.14 2.2
San Albino Zone --- 3.3 29.30 30.30 1.00 0.32 6.2
30.30 31.30 1.00 0.42 3.3
SA19-182 12.50 13.50 1.00 17.80 17.3 San Albino Zone
17.80 g/t Au and 17.3
g/t Ag over 1 m 0.9
SA19-183 5.50 7.00 1.50 0.59 1.4
No Significant
intersect --- ---
SA19-184
0.00 1.00 1.00 1.48 12.4 Historic Dump** --- --- 1.00 2.50 1.50 1.78 11.3
9.70 11.00 1.30 18.40 33.6 San Albino Zone
23.92 g/t Au and 33.6
g/t Ag over 1.3 1.3
SA19-185 16.50 17.70 1.20 1.98 4.0 San Albino Zone 10.44 g/t Au and 37.6
g/t Ag over 2.2m 1.9 17.70 18.70 1.00 20.60 77.9
SA19-186 12.10 12.70 0.60 18.80 35.0 San Albino Zone 10.37 g/t Au and 19.3
g/t Ag over 1.5m 1.5 12.70 13.60 0.90 4.76 8.9
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SA19-187 6.00 7.00 1.00 1.90 4.9 San Albino Zone
1.90 g/t Au and 4.9
g/t Ag over 1 m 0.9
SA19-188 3.90 5.90 2.00 --- --- Void --- ---
SA19-189
0.00 1.00 1.00 1.29 9.2
Historic Dump** --- ---
1.00 2.00 1.00 0.69 2.1
2.00 3.00 1.00 2.81 4.5
3.00 4.20 1.20 5.81 4.3
4.20 6.00 1.80 2.63 5.8
SA19-190 0.00 1.50 1.50 2.16 22.7 Historic Dump** --- --- 1.50 3.00 1.50 4.12 4.5
SA19-191
0.00 1.20 1.20 3.22 5.50
Historic Dump** --- ---
1.20 2.50 1.30 3.24 10.8
2.50 3.50 1.00 3.65 24.0
4.70 6.00 1.30 4.90 11.0
6.00 7.25 1.25 11.30 8.7
7.25 11.00 3.75 --- --- Void --- ---
SA19-192
1.50 3.00 1.50 1.58 2.7
Historic Dump** --- --- 3.00 4.60 1.60 3.97 7.7
8.60 9.90 1.30 5.92 9.2
9.90 10.35 0.45 130.00 101.0 San Albino Zone 73.15 g/t Au and 69.1
g/t Ag over 1.1 m 1.1 10.35 11.00 0.65 33.80 47.0
SA19-193
1.00 2.00 1.00 2.12 9.7
Historic Dump** --- ---
2.00 3.50 1.50 2.03 5.1
3.50 5.00 1.50 3.30 7.5
5.00 6.00 1.00 9.45 13.5
6.00 7.50 1.50 2.20 4.5
7.50 8.80 1.30 9.00 25.6
8.80 10.00 1.20 7.07 27.8
SA19-194
11.10 12.25 1.15 1.14 4.0 San Albino Zone
28.36 g/t Au and 44.4
g/t Ag over 5.4 m 4.8
12.25 12.90 0.65 15.30 28.0
12.90 13.75 0.85 --- ---
Void
(internal dilution)
13.75 14.50 0.75 22.50 53.0
San Albino Zone 14.50 14.90 0.40 60.60 67.0
14.90 15.45 0.55 138.90 189.0
15.45 16.50 1.05 23.20 44.0
SA19-195 Results Pending
SA19-196 Results Pending
SA19-197 Results Pending
SA19-198 Results Pending
SA19-199 Results Pending
SA19-200 Results Pending
SA19-201 Results Pending
SA19-202 Results Pending
SA19-203 Results Pending
SA19-204 Results Pending
SA19-205 40.90 42.00 1.10 11 15.5 San Albino Zone 2.3
5
42.00 43.15 1.15 46.6 22.6 16.16 g/t Au and 10.8
g/t Ag over 4.6 m 43.15 44.15 1.00 4.30 5.0
44.15 45.45 1.30 2.73 0.8
45.45 46.95 1.50 --- --- Void
46.95 47.45 0.50 1.60 3.0 San Albino Zone 1.43 g/t Au and 2.7
g/t Ag over 1.5 m 0.75 47.45 48.45 1.00 1.35 2.5
SA19-206 Results Pending
SA19-207
18.00 19.10 1.10 5.17 5.3
San Albino Zone 50.78 g/t Au and 13.0
g/t Ag over 5.3 m 5.1 19.10 20.60 1.50 173.3 26.0
20.60 21.80 1.20 1.34 14.5
21.80 23.30 1.50 1.25 4.3
SA19-208 Results Pending
SA19-209
33.50 34.50 1.00 1.64 5.5
San Albino Zone 6.00 g/t Au and 6.9
g/t Ag over 7.0 m 6.0
34.50 35.50 1.00 14.90 11.2
35.50 36.80 1.30 6.70 17.4
36.80 37.90 1.10 3.70 2.7
37.90 39.00 1.10 9.27 3.3
39.00 40.50 1.50 1.67 1.7
SA19-210
36.00 37.50 1.50 7.19 2.6
San Albino Zone 8.60 g/t Au and 10.4
g/t Ag over 8.1 m 7.7
37.50 38.70 1.20 1.80 3.9
38.70 40.00 1.30 24.00 35.2
40.00 41.00 1.00 12.10 5.9
41.00 42.00 1.00 3.82 3.0
42.00 43.00 1.00 1.66 3.4
43.00 44.10 1.10 7.21 15.7
SA19-211 Results Pending
SA19-212 Results Pending
SA19-213 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. * Indicates use of metallic screening method for assays. ** Historic Dump is interpreted to be "waste"
material from the mining operations during the period 1870-1920 and possibly during Spanish times. The grade and
distribution of Dump material is erratic and unpredictable. *** True width is estimated from interpreted sections.
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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, 30gram 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 standard Fire Assay-Gravimetric method unless otherwise indicated as using 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.
Qualified Person
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 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 Company’s exploration and in-fill drilling programs will be successfully completed; that any
outstanding assay results will be as anticipated; that the Porcelana-style mineralization discovered is anticipated to have a
material impact on the economics of the San Albino gold project; that the Company will be able to successfully adjust its mine
plan based on anticipated successful drilling results; that although the Company’s production decision at its San Albino project
is not based on a technical study supporting mineral reserves, and therefore not based on demonstrated economic viability,
management currently believes the project is on track to achieve its first gold pour by the late summer of 2020; that the Company
will be successful in any proposed financing plans necessary for the construction at the San Albino project. and such other risk
factors as outlined in the continuous disclosure documents of the Company filed on SEDAR at www.sedar.com. 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 San Albino will not be obtained; that the PEA is preliminary in nature and there is no certainty that the
PEA will be realized; the risk of economic and/or technical failure at the San Albino project associated with basing a production
decision on the PEA without demonstrated economic and technical viability; 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
8
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 may not be appropriate for other purposes. 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.