Mining of First Full Bench Containing the San Albino Vein Yields 1,002 Ounces Gold at a Diluted Grade of 11.74 g/t Gold Mako
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595 Burrard Street, Suite 2833
Vancouver, BC V7X 1K8
Tel: (604) 646-1580
www.makominingcorp.com
TSX-V: MKO | OTCQX: MAKOF
September 17, 2020
TSX-V: MKO; OTCQX: MAKOF
Mining of First Full Bench Containing the San Albino Vein Yields 1,002 Ounces Gold at a Diluted
Grade of 11.74 g/t Gold
Mako Mining Corp. (TSX-V: MKO; OTCQX: MAKOF) (“Mako” or the “Company”) is pleased to report grade
and tonnage results from mining of the first full bench containing the San Albino vein at its San Albino gold project
(“San Albino”) in northern Nicaragua. The bench mined consisted of two separate three-meter half benches between
616 and 610 meters above sea level (“Bench 610”) and contained 1,002 ounces Au and 1,511 ounces Ag within 2,654
tonnes of diluted vein material grading 11.74 g/t Au and 17.7 g/t Ag.
The 2,654 tonnes of diluted vein material are now sitting in a high-grade stockpile awaiting processing. An additional
3,710 tonnes of historical dump material grading 2.31 g/t Au were also mined from Bench 610. This stockpiled
historical dump material is expected to be used as initial mill feed during the ramp up to commercial production,
which is expected from January 2021 to early Q2 2021.
Akiba Leisman, Chief Executive Officer of Mako states that, “the grades encountered in Bench 610 are extraordinary
for any gold mining project, and especially for an open pit project like San Albino. Importantly, our operating team
over their many years of mining experience have developed selective open pit mining techniques and are
demonstrating that narrow high-grade structures can be mined open pit with limited levels of dilution. Although we
are still in the early days of mining at San Albino, this is a great start to our operations.”
Diluted Vein Material Sent to Stockpile
Bench
Half
Bench
Diluted
Vein
Tonnes*
Diluted
Grade
Au (g/t)
Diluted
Grade
Ag (g/t)
Ounces
Au
Ounces
Ag
610
616-613 1,151 11.62 17.4 430 643
613-610 1,503 11.83 18.0 572 868
Total 2,654 11.74 17.7 1,002 1,511
*Diluted Vein Tonnes are based on laser survey scans of material placed on the stockpile.
Breakdown of Total Tonnes Mined**
Material Tonnes
Grade
Au (g/t)
Grade
Ag (g/t)
Ounces
Au
Ounces
Ag
Diluted Vein 2,654 11.74 17.7 1,002 1,511
Historical Dump 3,710 2.31 3.2 276 378
Low-Grade 4,835 1.24 3.4 193 529
Waste 33,777 - - - -
Total Tonnes Mined** 44,976 - - - -
**Total Tonnes Mined are estimated by subtracting laser survey scans of the topography before and after mining
the bench. The Total Tonnes Mined is a combination of diluted vein material, historical dump material, low-grade
material and waste, which are each segregated into different areas.
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Sampling, Assaying, QA/QC and Grade Estimation
Vertical channel samples respecting the geology were collected on 5-meter sections at approximately 4-meter spacing
using a gas-powered rock saw where the vein is competent, or a rock hammer where the rock is strongly fractured or
brecciated. Special attention is applied to standardize the width and volume of material taken using the rock hammer
or rock saw. The coordinates of the channel samples are surveyed using a total station surveying device.
Samples were kept in a secured logging and storage facility until such time that they were delivered to the Managua
facilities of Bureau Veritas, an independent assay lab, for sample preparation. 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 Au are analyzed utilizing standard fire assay-gravimetric method. The Company
follows industry standards in its quality assurance and quality control (“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 3 to 4 samples. Analytical results of control samples confirmed reliability of the assay data.
The grade of the San Albino vein, low-grade and historical dump material were estimated using the inverse distance
cubed method (“ID3”) from 1-meter composite intervals respecting the geologic boundaries. Samples were capped
prior to compositing at 100 g/t Au in the San Albino vein, 7.0 g/t Au in the San Albino footwall, 4 g/t Au in the San
Albino hanging wall and 7.0 g/t Au in the Dump Material . Capping values were based an analysis of previous
diamond drilling results. The diluted grade of the San Albino vein was estimated using 3-D models of surveyed vein
boundaries and surveyed mined surfaces.
Qualified Person
Steven Ristorcelli, CPG, a geologist and qualified person (as defined under NI 43 -101) has read and approved the
technical information contained in this press release. Mr. Ristorcelli is the Principal Geologist at Mine Development
Associates in Reno, Nevada working on the updated resource estimate for San Albino. Mr. Ristorcelli was at site in
February 2020, but has not been able to visit the site to personally review the ongoing grade control program;
however, he has reviewed the data from original certificates, QA/QC data, photographs of the geology, mapping and
the grade-control model.
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: Akiba Leisman , Chief Executive Officer, T elephone: 203-862-7059, E-mail:
[email protected] or visit our website at www.makominingcorp.com and SEDAR www.sedar.com.
Forward-Looking Information: Some of the statements contained herein 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, including the expectation that narrow, high-grade structures at San Albino can
be mined open pit with limited levels of dilution; that the average diluted grade will likely drift lower as more benches are mined
at San Albino; obtaining positive results from Mako’s reconnaissance exploration program on its recently acquired Potrerillos
Concession, including the various prospects on the Potrerillos Concession and in area directly adjacent to the northeast on t he
San Albino -Murra Concession; and the Company’s intention to complete a soil survey focusing on generating additional
exploration targets, followed by trenching and comprehensive structural/geological mapping, which are anticipated to be drilled
tested, in due course. 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, that
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the Company’s Preliminary Economic Assessment for the San Albino Gold Deposit dated April 29, 2015 (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 asso ciated with basing a production decision on the PEA without demonstrated economic and technical
viability; that the Company is not able to declare commercial production in early 2021;the Company does not continue to find
positive results from its reconna issance exploration program and proposed drilling on the concessions; that exploration and
assay results do not confirm continuity of mineralization as expected; political risks and uncertainties involving the Compan y’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 the date hereof, based on
information currently available and is included for the purposes of providing investors with the Company’s plans and
expectations regarding the exploration of the Potrerillos Conc ession and the potential for expansion of the mineralization at
San Albino, 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.