mako-mining-intersects-82.55-gt-au-over-20m-estimated-true-width-and-16.83-gt-au-over- 47-m-etw-at-las-conchitas-with-regional-prospecting-channel-sample-results-of-up-to- 35860-gt-au-over-10m
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
August 28th, 2024
TSX-V: MKO; OTCQX: MAKOF
mako-mining-intersects-82.55-gt-au-over-20m-estimated-true-width-and-16.83-gt-au-over-
47-m-etw-at-las-conchitas-with-regional-prospecting-channel-sample-results-of-up-to-
35860-gt-au-over-10m
Mako Mining Corp. (TSX-V:MKO)(OTCQX:MAKOF) (“Mako” or the “ Company”) is pleased to provide
additional exploration results from the 2024 reverse circulation (RC ) drill program in the Las Conchitas
area, located immediately south of the Company’s San Albino gold mine, and additional results from an
ongoing regional reconnaissance program within Mako’s 188 square kilometres land package.
The main objective of the RC drill program is to test for possible extensions of the high-grade mineralization
trends beyond the limits of the Company’s most recent mineral resource estimate (“MRE”) at the San
Albino Project (see press release of December 6 th, 2023). The results reported in this release are from
three principal veins: 1) Intermediate vein located within the Las Conchitas North (“LC-N”) area, 2) El Limon
vein and 3) Las Dolores vein, both situated in the southern portion of Las Conchitas LC-S (see Figure 1).
With the regional reconnaissance program, the Company is testing for new centres of high -grade
mineralization, leveraging results of prior surface prospecting and locations of artisanal mining. The results
are from channel and grab samples.
Drilling Highlights
• Intermediate Vein
o 82.55 grams per tonne (“g/t”) gold (“ Au”) and 76.9 g/t silver (“ Ag”) over 2.0m – (2.0m
Estimated True Width (“ETW”))
o 19.31 g/t Au and 43.4 g/t Ag over 4.0m – (3.6m ETW)
• Las Dolores Vein
o 16.83 g/t Au and 26.4 g/t Ag over 6.0m – (4.7m ETW)
o 14.70 g/t Au and 21.8 g/t Ag over 3.0m – (3.0m ETW)
• El Limon Vein
o 12.27 g/t Au and 7.1 g/t Ag over 3.0m – (3.0m ETW)
Reconnaissance Highlights
• El Golfo Area (located 3km south of San Albino)
o 62.20 g/t Au and 71.2 g/t Ag over 1.0m
o 86.80 g/t Au and 111.0 g/t Ag over 1.0m
2
o 21.65 g/t Au and 33.4 g/t Ag over 3.0m
• Santa Rosa Area (located 5km east of San Albino)
o 358.60 g/t Au and 87.9 g/t Ag over 1.0m
o 141.6 g/t Au and 13.1 g/t Ag over 0.4m
Akiba Leisman, CEO of Mako states, “these drill results further indicate the potential to expand high grade
mineralization in areas where we are currently mining. However, what is particularly exciting about these
exploration data is the high-grade reconnaissance exploration program results we are receiving within our
188 square kilometer land package. We recorded 67 grab and channel samples grading over 10 g/t (and
channel samples as high as 358 g/t over 1.0m) across individual structures that can be measured over two
kilometres in strike length. The vast majority of these samples have been taken in areas that have never
been drilled before, and preparation to begin drilling these regional targets has commenced.”
Las Conchitas contains numerous mineralized structures over a 1,700m by 800m surface area, which has
been subdivided into three primary areas: Las Conchitas North (“LC -N”), Las Conchitas Central (“LC-C”)
and Las Conchitas South (“LC-S”). Each of these areas are comprised of multiple subparallel, northeast-
southwest striking and gently dipping mineralized veins.
Las Conchitas North (Intermediate Vein)
Drilling at the Intermediate zone, located within the LC-North area, is designed to test a previously identified
high-grade mineralized zone outside the current MRE pit limits.
LC24-RC520 intersected 82.55 g/t Au and 76.9 g/t Ag over 2.0m (2.0m ETW), 46.5m below surface. This
drill hole confirms structural continuity of the vein and demonstrates strike extensions of the high -grade
mineralization intersected previously in diamond drill hole INT18-19 (see press release dated November
28th, 2018) which intersected 16.65 g/t Au and 12.1 g/t Ag over 1.20 m, located 14m northeast along strike.
Two drill holes LC24-RC513 and LC24-RC518 successfully tested the down dip extension of the same
high-grade mineralization intersected by INT18 -19, outside the current MRE . Drill hole LC24-RC513
intersected 19.31 g/t Au and 43.4 g/t Ag over 4.0m (3.6m ETW), 67m below surface and LC24-RC518
intersected 11.99 g/t Au and 17.0 g/t Ag over 3.0m (2.5m ETW), 60m below surface . These drill holes
confirmed the down dip extension of the same mineralization for 60.2m and 31.0m, respectively.
Las Conchitas South (Las Dolores Vein)
The key objective of the 2024 drilling program at the Las Dolores area is to further test extensions of
shallow, high -grade mineralized zones beyond the current MRE pit limits . Drill hole LC24 -RC459
intersected 16.83 g/t Au and 26.4 g/t Ag over 6.0 m (4.7m ETW), 17.4m below surface and confirmed a
16m southwest strike extension of the mineralization intersected by LC24-RC458 of 30.85 g/t Au and 34.0
g/t Ag over 2.00m (1.8m ETW), 11.4m below surface (see press release dated July 29th, 2024).
Both drill holes mentioned above intersected the high-grade mineralized zones and confirm additional
mineralization outside the current MRE and between two relatively small pits. The potential for one larger
pit will be evaluated. (see Figure 1).
3
Drill hole LC24 -RC521 intersected 14.70 g/t Au and 21.8 g/t Ag over 3.00m (3.0m ETW), 13.5m from
surface and successfully confirmed a 13m down dip extension of the same high -grade mineralization
intersected by drill hole LC24-RC458 mentioned above.
Las Conchitas South: (El Limon Vein)
Recent drilling at El Limon within the southern portion of Las Conchitas (“LC-S”), together with prior results
drilled since the effective date of the MRE, supports the potential to expand the high -grade gold
mineralization outside of the pit limits defined by the current MRE. Drill hole LC24-RC481 intersected 12.27
g/t Au and 7.1 g/t Ag over 3.0m (3.0m ETW), approximately 60m from surface and confirmed a 33m strike
extension to the east of the high-grade mineralization intersected by diamond drill hole LC22-478 of 65.45
g/t Au and 41.7 g/t Ag over 1.80m, (see press release October 24th, 2022).
Regional Reconnaissance Exploration Program
The ongoing reconnaissance exploration program covers the Company’s entire 188 square kilometer land
package and includes geological mapping and sampling of exposed mineralized veins, local mine dumps,
and, where safely accessible, underground workings. The main objective of th e reconnaissance
exploration program is to collect key structural data of mineralized veins, extend previously exposed high-
grade gold mineralization and prioritize drilling targets, such as El Golfo, Potrerillos and La Reforma (see
Figure 2) and to identify additional gold targets for follow-up exploration and drilling.
Reconnaissance results reported in this press release together with those previously released (See Press
Releases dated: May 3 rd, 2021 , Aug 18 th, 2021 and Mar 24 th, 2022) are part of an ongoing regional
exploration program that will soon include drilling at these and other prospective targets across our
approximately 188 square kilometer land package. Results are reported for a total of 809 reconnaissance
samples that were collected from underground workings, surface exposures and dumps, and they consist
of both grab and channel samples. Of the 809 samples reported, 250 samples assayed over 1.0 g/t Au
with 67 samples grading over 10 g/t Au (see Figure 2).
El Golfo Area
Historical mining and production within the area was centered primarily around the El Golfo Mine (covering
approximately 2 square kilometers ) in the early 1900’s. Initial mapping and trench sampling by the
Company confirmed the existence of high-grade gold mineralization that may be similar in both size and
grade to that of the Las Conchitas and San Albino Gold Deposits, which are located approximately 1
kilometer and 3 kilometers, respectively, immediately to the north.
The recent reconnaissance exploration program conducted by the Company suggests the existence of
additional mineralized zones proximal to the historical mining area. These new mineralized zones have
not yet been tested by trenching or drilling.
Highlights of the reconnaissance sampling at the El Golfo area:
• El Golfo West 62.20 g/t Au and 71.2 g/t Ag over 1.0m
• El Golfo South 44.40 g/t Au and 64.9 g/t Ag over 1.0m and 18.70 g/t Au and 41.8 g/t Ag over 3.0m
• Tivo 86.80 g/t Au and 111.0 g/t Ag over 1.0m and 21.65 g/t Au and 33.4 g/t Ag over 3.0 m
• Los Centenos 26.98 g/t Au and 32.7 g/t Ag over 2.5m and 37.80 g/t Au and 30.8 g/t Ag over 1.0m
4
New Prospects
Reconnaissance mapping and sampling has identified several new prospects with similar characteristics
to San Albino and Las Conchitas (see attached maps). The most extensive prospect, Santa Rosa, exposed
recently by local, small-scale miners using manual mining methods, and situated on both the El Jicaro and
San Albino-Murra concessions, appears to be developed on the same structure with a strike extent of at
least 2,300m. The prospects are centered around quartz veins similar to those at San Albino and Las
Conchitas with occasional visible gold, galena and arsenopyrite. The highlights of channel sampling of the
vein are as follows:
• 358.60 g/t Au and 87.9 g/t Ag over 1.0m
• 141.6 g/t Au and 13.1 g/t Ag over 0.4m
Additional new prospects identified in the reconnaissance mapping include La Virgen, El Cortez, Mina
Estrella, Fortuna NE and La Reforma Nor th (see figure 2) . Follow-up sampling and mapping is being
conducted in these areas.
Table - Assay Results Reported in This Press Release
Zone RC Drill Hole From
(m)
To
(m)
Width
(m) Au (g/t) Ag
(g/t) Interval
55 56 1 1.57 4.5
56 57 1 124.20 41.6
57 58 1 7.90 17.7
58 59 1 6.23 4.8
59 60 1 0.52 1.6
60 61 1 2.63 2.5
61 62 1 5.63 2.9
62 63 1 0.11 1.1
63 64 1 2.11 2.1
81 82 1 1.35 4.0
82 83 1 30.60 10.0
83 84 1 4.85 7.3
66 67 1 6.32 8.5
67 68 1 0.17 0.2
68 69 1 2.82 0.6
LC24-RC483 69 70 1 9.70 44.0 9.70 g/t Au and 44.0 g/t Ag over 1.00 m
76 77 1 5.27 17.6
77 78 1 23.20 13.9
78 79 1 0.20 1.5
79 80 1 2.63 7.7
95 96 1 3.50 7.0
96 97 1 2.23 3.4
previously released intervals
16.77 g/t Au and 8.8 g/t Ag over 9.00 m
12.27 g/t Au and 7.1 g/t Ag over 3.00 m
LC24-RC482 3.10 g/t Au and 3.1 g/t Ag over 3.00 m
LC24-RC485 7.82 g/t Au and 10.2 g/t Ag over 4.00 m
LC24-RC371
LC24-RC481El Limon
2.86 g/t Au and 5.2 g/t Ag over 2.00 mLC24-RC487
5
Note: The mineralized intervals shown above utilize a 1.0 g/t gold cut -off grade with not more than 1.0 m of internal dilution.
*Widths are reported as drill hole lengths. True width is estimated to be between 70% and 100% of the downhole width. In addition
to the drill holes presented in the table above, the following drill holes returned only anomalous values: LC24 -RC484, LC24-
RC486, LC24-RC525 and LC24-RC529. In addition to the drill holes presented in the table above, the following drill holes returned
no significant values: LC24-RC514, LC24-RC542, LC24-RC523, LC24-RC524 and LC24-RC528.
23 24 1 7.43 9.6 previously released interval
24 25 1 0.20 0.7
25 26 1 2.61 4.7
67 68 1 74.30 168.0
68 69 1 1.07 3.3
69 70 1 0.18 1.0
70 71 1 1.68 1.4
LC24-RC515 29 30 1 5.35 0.5 5.35 g/t Au and 0.5 g/t Ag over 1.00 m
84 85 1 21.70 21.0
85 86 1 3.21 4.4
LC24-RC517 70 71 1 11.20 20.0 11.20 g/t Au and 20.0 g/t Ag over 1.00 m
60 61 1 12.40 15.1
61 62 1 22.40 34.0
62 63 1 1.18 1.9
LC24-RC519 46 47 1 7.95 19.3 7.95 g/t Au and 19.3 g/t Ag over 1.00 m
42 43 1 106.70 76.4
43 44 1 58.40 77.4
LC24-RC541 52 53 1 1.61 7.9 1.61 g/t Au and 7.9 g/t Ag over 1.00 m
22 23 1 1.09 2.0
23 24 1 35.70 43.0
24 25 1 1.56 2.0
25 26 1 1.93 3.4
26 27 1 34.20 54.0
27 28 1 26.50 54.0
16 17 1 2.11 7.3
17 18 1 25.90 30.2
18 19 1 16.10 27.9
13 14 1 7.22 15.8
14 15 1 7.62 25.6
15 16 1 10.90 38.6
LC24-RC526 27 28 1 1.54 2.5 1.54 g/t Au and 2.5 g/t Ag over 1.00 m
24 25 1 9.94 3.5
25 26 1 3.77 9.2
LC24-RC459
LC24-RC520
LC24-RC518
LC24-RC521
LC24-RC522
LC24-RC503
LC24-RC513
LC24-RC516
Las Dolores
Intermediate
6.85 g/t Au and 6.4 g/t Ag over 2.00 m
82.55 g/t Au and 76.9 g/t Ag over 2.00 m
LC24-RC527
11.99 g/t Au and 17.0 g/t Ag over 3.00 m
14.70 g/t Au and 21.8 g/t Ag over 3.00 m
8.58 g/t Au and 26.7 g/t Ag over 3.00 m
19.31 g/t Au and 43.4 g/t Ag over 4.00 m
12.46 g/t Au and 12.7 g/t Ag over 2.00 m
16.83 g/t Au and 26.4 g/t Ag over 6.00 m
3.41 g/t Au and 5.0 g/t Ag over 3.00 m
6
Figure 1. Drill Hole Plan Las Conchitas
7
Figure 2. Reconnaissance Surface Sampling
8
Sampling, Assaying, QA/QC and Data Verification
All reverse circulation (RC) holes were drilled dry i.e above the water table and no water or other fluids
were injected into the hole. RC drill samples were collected every 1 meter using a center -return hammer
and samples were obtained from a Gilson chip splitter which is cleaned using compressed air after each
sample. Samples were bagged and labeled at the drill site under a geologist’s supervision and are logged
on site by a geologist who visually selects potential mineralized intervals for fire assay. T he mineralized
interval(s) including 3 -5 samples above and below , the selected interval are continuously sampled and
shipped to the Bureau Veritas Lab (BV) in Managua, respecting the best chain of custody practices. Pulps
are sent by Bureau Veritas to their laboratory in Vancouver under their chain of custody for analysis. Gold
was analyzed by standard fire assay fusion, 30 gr 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 minimum ratio of 1 control sample per every 10 samples. Analytical results of
control samples confirmed reliability of the assay data.
Surface samples consist of channel samples, trench samples, grab and float samples. Channel samples
are continuous chip samples collected perpendicular to the structures in order to represent the approximate
true width of the veins. Dump samples are approximately 2 kilogram samples collected from the surface
of dumps developed from previo us mining activities. Care was taken to collect samples that are
representative of the material on a specific dump. Grab and float samples are taken to identify anomalous
areas for follow-up sampling.
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 f ire assay fusion, 30 -gram aliquot, AAS finish. Samples
returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric method.
Qualified Person
Brian Ray, M.Sc., 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. Ray is 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 company. The Company
operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the