Near Surface, High-Grade GOLD Intercepted at Las Dolores, Including 9.00 G/T GOLD and 19.3 G/T Silver over 4.1 Meters
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July 25, 2019
PRESS RELEASE - #19-09
TSX-V: MKO
NEAR SURFACE, HIGH-GRADE GOLD INTERCEPTED AT LAS DOLORES, INCLUDING
9.00 g/t GOLD AND 19.3 g/t SILVER OVER 4.1 METERS
Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “ Company”) is pleased to announce positive drill results
from the Las Dolores Zone within the Las Conchitas area of its wholly-owned San Albino-Murra property located in
Nueva Segovia, Nicaragua.
The goal of the 2019 drill program at the Las Dolores Zone was to confirm and extend the near surface, high-grade
mineralized shoot previously encountered in trenches and drill holes. The Company has completed eight shallow
drill holes totaling 369.75 meters (“m”) within the Las Dolores Zone in 2019 (see the attached map). The Las Dolores
Zone is located approximately 250 m southeast from the Mango Zo ne, where the Company intersected the highest
gold grade drilled to date of 376.49 g/t Au over 1 m (see press release dated May 6, 2019).
Specifically, the 2019 drilling at the Las Dolores Zone was focused on testing the mineralization encountered in hole
LD18-43, which intersected 16.48 g/t Au and 27.7 g/t Ag over 6. 1 m in the widest high-grade gold mineralization
drilled to date within the entir e Las Conchitas area (see press release dated November 28, 2018). The five holes
reported in the table below successfully tested the strike and dip extension of the mineralization from hole LD18-43,
including 9.00 g/t Au and 19.3 g/t Ag over 4.1 m in hole LC19-85 (see table below and attached cross section).
Located only 2.5 kilometers south of the Company’s San Albino gold project and bordering the El Jicaro Concession
to the south (see attached map), the Las Dolores Zone hosts nea r surface high-grade mineralization in a geological
setting similar to that of the San Albino Gold Deposit. The La s Dolores Zone remains open along strike and down
dip.
2019 Diamond Drill Results in the Las Dolores Zone
Drill Hole From
(m)
To
(m)
Width
(m)*
Au
(g/t)
Ag
(g/t) Interval Averages
LC19-81
27.10 28.50 1.40 8.93 25.1
4.45 g/t Au and 11.6 g/t Ag over 5.70 m 28.50 30.00 1.50 0.17 2.7
30.00 31.50 1.50 0.14 3.2
31.50 32.80 1.30 9.52 16.9
LC19-83 26.00 27.00 1.00 1.77 4.3 1.77 g/t Au and 4.3 g/t Ag over 1.00 m
LC19-85
26.65 27.20 0.55 12.44 20.8
9.00 g/t Au and 19.3 g/t Ag over 4.10 m; including 19.29 g/t
Au and 34.8 g/t Ag over 1.80 m
27.20 28.45 1.25 22.30 41.0
28.45 29.50 1.05 0.68 3.8
29.50 30.15 0.65 1.24 1.2
30.15 30.75 0.60 1.11 2.6
LC19-86 12.00 12.50 0.50 15.23 16.7 7.42 g/t Au and 15.6 g/t Ag over 2.85 m
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12.50 13.50 1.00 0.85 5.0
13.50 14.00 0.50 9.40 28.6
14.00 14.85 0.85 9.40 19.7
LC19-87 50.50 51.50 1.00 2.90 2.9
4.42 g/t Au and 3.5 g/t Ag over 2.00 m 51.50 52.50 1.00 5.93 4.0
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.
Lengths are reported as core lengths. Drill holes LC19-82, LC19-84 and LC19-88 intercepted faults at the projected depth of
the mineralized zone and returned gold values below the cut-off grade. *True widths vary depending on drill hole dip, the veins
are shallow dipping and typical true widths are 85-100% of the downhole width.
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). Geo logic 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 l ogging 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 ass ay fusion, 30 gram aliquot, AAS finish. Samples
returning over 10.0 g/t gold are analyzed utilizing standard Fi re 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 metallic screening method. The Com pany 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 r esults of control samples confirmed reliability of the
assay data.
Qualified Person
John M. Kowalchuk, P.Geo, a ge ologist 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”
Interim CEO
About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration firm. It operates the producing La
Trinidad open-pit, heap leach gold mine in Sinaloa State, Mexic o and is developing its high-grade San Albino gold
project in Nueva Segovia, Nicaragua. Mako’s primary objective i s to bring San Albino into production quickly and
efficiently, while continuing exploration of prospective targets in both Mexico and Nicaragua.
Currently, Mako is exploring for gold and silver mineralization on more than 60,200 hectares (602 km 2) in Sinaloa
State, Mexico and on 13,771 hectares (138 km 2) at the San Albino-Murra and El Jicaro properties, both in Nue va
Segovia, Nicaragua. The Corona de Oro Gold Belt, approximately 3 kilometers wide by 23 kilometers long, contains
hundreds of historical mines and workings and spans the entirety of the Company’s Nicaragua land package.
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For further information: Mako Mining Corp., Akiba Leisman, Interim 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-lo oking information is based on certain expectations and
assumptions, including that the results pending from the remaining nine drill holes at the Mango zone will support strike and dip
continuity of gold mineralization; that the Company’s explorati on programs will be successfully completed; 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 its proposed fin ancing plans necessary for the
construction at the San Albino project, in cluding by way of a proposed back-stopped, exempt rights offering; and that upfront
capital expenditures required for the construction of San Albino of approximately US$20 million will be sufficient. 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, includ ing, without limitation, the risks that additional satisfactory
exploration results at the Mango zone will not be obtained; that the PEA is preliminary in nature and there is no certainty tha t
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 proper ties 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
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 the Las Conchitas area, and may not be appropriate for other purposes.
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.