Mako Mining Intersects 98.50 g/t Au and 66.3 g/t Ag over 1.9m (Estimated True Width) 39m from Surface at the San Albino SW Pit
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
January 5th, 2023
TSX-V: MKO; OTCQX: MAKOF
Mako Mining Intersects 98.50 g/t Au and 66.3 g/t Ag
over 1.9m (Estimated True Width) 39m from Surface at the San Albino SW Pit
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to
report additional high -grade drill results from an area located approximately 50 meters (“ m”)
southwest of the current open pit mining operations at the San Albino West Pit in northern
Nicaragua (the “SW Pit”).
Recent drilling has focused on near surface, high grade gold mineralization in the SW Pit area
within and proximal to the currently permitted pit limits. Results of drilling in this area are
confirming multiple high grade shallow zones. In 2022, a total of 16,472m in 126 drill holes have
been completed in the SW Pit area.
Highlights of selected intercepts of the high-grade gold mineralization include:
• 98.50 g/t Au and 66.3 g/t Ag over 1.9m (Estimated True Width – “ETW”)
including 168.30 g/t Au and 110.0 g/t Ag over 1.1m
• 52.66 g/t Au and 47.2 g/t Ag over 2.0m (1.9m ETW)
including 78.14 g/t Au and 69.6 g/t Ag over 1.2m
• 31.32 g/t Au and 76.1 g/t Ag over 1.3m (1.1m ETW)
• 24.35 g/t Au and 31.0 g/t Ag over 2.1m (1.6m ETW)
Akiba Leisman, CEO of Mako states: “the SW Pit is shaping up to be a shallow, high-grade zone
within 50-100 m of the mining operations at San Albino. Last year we were able to extend the
mineralized zone underneath our mining contractor’s workshop, by hitting 42.9 g/t Au over 4.1m
ETW 36m from surface, and now we have been able to extend this zone with multiple high-grade
intercepts, over higher than average widths, along strike, and up an d down dip. Currently, there
exists a minimal resource at the SW Pit, which the Company is in the process of updating, and
we aim to begin mining the SW Pit over the course of the next few months.”
Details of selected intersects:
Several ho les were designed to test the continuity of mineralization along strike and dip of
diamond drill hole SA22-615 (see attached drill plan) which intersected three shallow zones: an
upper zone of 1.44 g/t Au and 30.7 g/t Ag over 0.50m at 30m below surface, a high-grade, main
zone of 42.91 g/t Au and 38.3 g/t Ag over 4.50m (4.1m ETW) at 36m below surface, and a lower
zone of 15.68 g/t Au and 7.4 g/t Ag over 1.90m (1.9m ETW) at 60m below surface (see press
release dated June 21, 2022).
Drill hole SA22-692 intersected an interval of high-grade, near surface gold mineralization of
98.50 g/t Au and 66.3 g/t Ag over 1.9m (ETW), 39m below surface (see attached cross section
and drill hole plan ). This corresponds to the main zone intersected in h ole SA22 -615
approximately 57m up-dip.
SA22-689 intersected 52.66 g/t Au and 47.2 g/t Ag over 2.0m (1.9m ETW), approximately 64m
below surface and 3.55 g/t Au and 12.1 g/t Ag over 2.3m (1.5m ETW), at a vertical distance of
46m from surface. This hole intersected the lower zone approximately 14m downdip from SA22-
615.
Diamond drill hole SA22-676 intersected 31.32 g/t Au and 76.1 g/t Ag over 1.3m (1.1m ETW),
approximately 35m from surface, and diamond drill hole SA22-673 intersected 24.35 g/t Au and
31.0 g/t Ag over 2.1m (1.6m ETW), 22m from surface. Both holes were drilled to test the strike
continuity of the upper mineralized zone encountered in hole SA22-615. Drill intersects are
located 124m and 104m respectively along strike.
In addition, the Company completed a reconnaissance drill program to test for mineralization
across a major NW trending fault in an area of no previous drilling (see drill plan and table below).
Eight diamond drill holes were completed, three drill holes intersected mineralized intervals above
an internal cutoff grade (1.0 g/t Au). The rest of the drill holes intersected areas disturbed by
faulting and/or were intruded by late andesitic dykes at the projected depth. The Company intends
to continue testing the projected extension further to the southwest.
Table 1: Assay Results Reported in This Press Release
Drill hole From
(m)
To
(m)
Width
(m) **
Au
(g/t)
Ag
(g/t) Interval ETW
(m) ***
SA22-646 14.5 15.5 1.0 1.9 4.3 1.86 g/t Au and 4.3 g/t Ag over 1.0 m 1.0
SA22-649 4.0 5.0 1.0 1.5 3.8 1.53 g/t Au and 3.8 g/t Ag over 1.0 m 0.8
SA22-665 77.9 78.4 0.5 15.9 10.6 15.90 g/t Au and 10.6 g/t Ag over 0.5 m 0.4
SA22-666 36.5 37.3 0.8 1.1 2.6 1.09 g/t Au and 2.6 g/t Ag over 0.8 m 0.7
SA22-669 3.7 4.7 1.0 3.1 7.0 3.11 g/t Au and 7.0 g/t Ag over 1.0 m 1.0
17.6 18.1 0.5 3.2 2.4 3.20 g/t Au and 2.4 g/t Ag over 0.5 m 0.5
92.2 92.8 0.6 1.2 1.2 1.18 g/t Au and 1.2 g/t Ag over 0.6 m 0.6
SA22-671 13.0 14.0 1.0 1.9 1.5 1.87g/t Au and 1.5 g/t Ag over 1.0 m 0.9
SA22-672 12.7 13.2 0.5 3.4 11.9 3.44 g/t Au and 11.9 g/t Ag over 0.5 m 0.5
22.7 24.0 1.3 27.7 33.4
24.0 24.8 0.8 18.9 27.2
37.4 37.8 0.4 1.4 6.4
37.8 38.7 0.9 44.6 107.0
SA22-677 106.0 107.1 1.1 7.4 13.8 7.43 g/t Au and 13.8 g/t Ag over 1.1 m 0.9
SA22-678 51.3 51.9 0.6 4.2 16.0 4.19 g/t Au and 16.0 g/t Ag over 0.6 m 0.5
SA22-683 69.9 71.0 1.1 2.2 2.8 2.17 g/t Au and 2.8 g/t Ag over 1.1 m 0.8
SA22-684 66.4 67.1 0.7 3.2 10.0 3.17 g/t Au and 10.0 g/t Ag over 0.7 m 0.7
SA22-687 75.0 75.6 0.6 2.6 2.7 2.63 g/t Au and 2.7 g/t Ag over 0.6 m 0.5
22.2 23.0 0.8 2.0 4.0 2.04 g/t Au and 4.0 g/t Ag over 0.8 m 0.6
26.7 27.3 0.6 25.9 17.4
27.3 28.1 0.8 1.4 1.3
30.1 30.4 0.3 27.6 45.2 27.60 g/t Au and 45.2 g/t Ag over 0.3 m 0.2
56.7 57.2 0.5 18.9 12.8 18.90 g/t Au and 12.8 g/t Ag over 0.5 m 0.4
46.5 47.1 0.6 5.0 40.6
47.1 47.7 0.6 5.3 2.4
47.7 48.0 0.3 2.5 1.5
48.0 48.8 0.8 1.6 2.1
64.2 64.6 0.4 10.6 26.3
64.6 65.0 0.4 0.0 1.1
65.0 65.7 0.7 62.6 78.8
65.7 66.2 0.5 114.5 56.6
2.8 3.5 0.7 5.9 18.1
3.5 4.1 0.6 24.1 41.9
4.1 4.6 0.5 37.2 97.3
9.4 9.7 0.3 105.1 126.0 105.10 g/t Au and 126.0 g/t Ag over 0.3 m 0.3
15.6 16.7 1.1 18.5 16.2 18.50 g/t Au and 16.2 g/t Ag over 1.1 m 0.9
45.4 45.8 0.4 1.8 10.2
45.8 46.6 0.8 10.0 24.0
66.1 66.6 0.5 2.9 3.0 2.86 g/t Au and 3.0 g/t Ag over 0.5 m 0.5
50.1 51.2 1.1 168.3 110.0
51.2 52.0 0.8 2.5 6.1
SA22-695 34.5 35.3 0.8 1.9 3.1 1.91 g/t Au and 3.1 g/t Ag over 0.8 m 0.7
0.0 1.0 1.0 1.9 2.4
1.0 2.0 1.0 1.4 1.1
SA22-703 32.7 33.2 0.5 2.3 15.7 2.30 g/t Au and 15.7 g/t Ag over 0.5 m 0.3
SA22-670
SA22-673 24.35 g/t Au and 31.0 g/t Ag over 2.1 m 1.6
SA22-676 31.32 g/t Au and 76.1 g/t Ag over 1.3 m 1.1
SA22-688 11.89 g/t Au and 8.2 g/t Ag over 1.4 m 1.3
SA22-689
3.55 g/t Au and12.1 g/t Ag over 2.3 m 1.5
52.66 g/t Au and 47.2 g/t Ag over 2.0 m
incl. 78.14 g/t Au and 69.6 g/t Ag over 1.2 m 1.9
SA22-690 20.65 g/t Au and 48.0 g/t Ag over 1.8 m 1.3
SA22-691 7.27 g/t Au and 19.4 g/t Ag over 1.2 m 1.1
SA22-700 1.67 g/t Au and 1.8 g/t Ag over 2.0 m 2.0
SA22-692 98.50 g/t Au and 66.3 g/t Ag over 1.9 m
incl. 168.30 g/t Au and 110.0 g/t Ag over 1.1 m 1.9
SA22-693 to
SA22-694 Pending
SA22-696 to
SA22-699 Pending
Note: 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 v alues: SA22 -630, SA22 -638, SA22 -639, SA22 -641, SA22 -643, SA22 -644,
SA22-645, SA22 -647, SA22 -648, SA22 -664, SA22 -667, SA22 -668, SA22 -674, SA22 -675, SA22 -679,
SA22-680, SA22-682, SA22-685, SA22-701, SA22-702, SA22-705 and SA22-706. In addition to the drill
holes presented in the table above the following drill holes returned no significant values: SA22-640, SA22-
642, SA22-681, SA22-686 and SA22-704.
Figure 1. San Albino Mine Drilling Program
Figure 2. Schematic Longitudinal 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 lo gging 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 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 int o 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 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 expectations 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 area at San Albino is likely as a
result of the drilling program; the Company is in the process of updating and aims to begin mining
in the SW Pit over the course of the next few months; further drilling could lead to an increase in
the scale of the SW Pit if continuity is proven; 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 ri sks 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 signi ficant increase in scale of the SW Pit or mineral resources at the SW Pit
area; that the SW Pit does not become the Company’s next mining area; political risks and
uncertainties involving the Company’s exploration properties; the inherent uncertainty of co st
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 the date hereof, based on information 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 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.