Near Surface, High-Grade GOLD Zone Discovered at Las Conchitas Highlighted BY Intercepts of 42.79 G/T GOLD over 1.7 Meters and 42.55 G/T GOLD over 2.1 Meters
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September 10, 2019
PRESS RELEASE - #19-15
TSX-V: MKO
NEAR SURFACE, HIGH-GRADE GOLD ZONE DISCOVERED AT LAS CONCHITAS
HIGHLIGHTED BY INTERCEPTS OF 42.79 g/t GOLD OVER 1.7 METERS AND 42.55 g/t
GOLD OVER 2.1 METERS
Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “Company”) is pleased to report th e discovery of the
Bayacun Zone at the Las Conchitas area of its San Albina-Murra property located in Nueva Segovia, Nicaragua.
Six drill holes, totaling 314 m were drilled around the histori c Bayacun mine, approximately three kilometers south
of the San Albino gold project, which is currently under constr uction (see attached map). All six holes encountered
gold mineralization, with the occurrence of visible gold in several of them.
The purpose of the drilling at the historic Bayacun mine was to test an underexplored area along a larger and
potentially mineralized trend between the Mango Zone to the nor th (see press releases dated May 6, 2019 and May
21, 2019) and the Las Dolores Zone to the east (see press relea se dated July 25, 2019). The new Bayacun Zone is
trending in a northeast-southwest d irection, and shallowly dips to the northwest, representing a potential southeast
extension of the Mango Zone. Further drilling is planned for l ater this year, to confirm whether the Bayacun Zone
connects to these surrounding zones, which could significantly expand the strike and dip of the Las Conchitas area.
Highlights of this drill program i nclude LC19-104 which interse cted 42.79 g/t Au and 59.9 g/t Ag over 1.7 m and
LC19-105 which intersected 19.34 g/t Au and 13.6 g/t Au over 4. 9 m, including 42.55 g/t Au and 24.7 g/t Ag over
2.10 m. True widths are estimated to be approximately 85-100% of the downhole width. Both intercepts are
shallow enough (approximately 40 m and 35 m respectively) that they may be amenable to open pit mining (see
attached cross section).
The six drill holes mark the first modern exploration work in t his area. The Company had previously sampled what
appeared to be a historic stockpile near a tunnel in 2012 which returned 34.90 g/t Au and 42.4 g/t Ag (see press
release dated March 21, 2012). Limited underground production occurred at the historic Bayacun mine until the
early 1900’s, with the extracted material being transported fur ther south to the nearby El Golfo mill for processing.
The mill, along with the historic El Golfo mine, are located wi thin Mako’s El Jicaro concession, an area which the
Company plans to drill for the first time later this year.
Akiba Leisman, Chief Executive Officer of Mako, states “discove ries are the lifeblood of all mining companies.
The fact that Mako has been able to deliver these kinds of resu lts where only a single drill rig is focused on step-out
exploration is a testament to our geological team and their inc reasing understanding of our rare, near surface
orogenic gold belt. This bodes very well for later in the year when the Company plans to move the four drill rigs
currently focused on infill drilling at San Albino to Las Conch itas and the numerous unexplored targets throughout
the Company’s 138 square kilometer land package.”
Furthermore, 50 m to the southeast of the Bayacun Zone is the R osibel Zone, where a highly mineralized, shallow-
dipping quartz vein was exposed in an exploration pit. The vei n contains galena, arsenopyrite and visible gold.
Vertical sampling returned 29.30 g/t Au and 44.7 g/t Ag over 1. 5 m. Further step-out drilling is planned to test the
continuity of near surface, high-grade gold mineralization and increase the Company’s understanding of the overall
grade and size of the Bayacun Zone discovery.
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2019 Bayacun Assay Results
Drill
Hole
From
(m)
To
(m)
Width
(m)*
Au
(g/t)**
Ag
(g/t)** Interval Averages
LC19-102 33.30 34.70 1.40 24.73 33.9 15.21 g/t Au and 24.9 g/t Ag over 2.55m 34.70 35.85 1.15 3.63 13.9
LC19-103
28.40 29.50 1.10 4.03 8.0
2.85 g/t Au and 26.9 g/t Ag over 3.60m 29.50 30.50 1.00 0.05 4.3
30.50 32.00 1.50 3.84 55.8
LC19-104
7.50 9.00 1.50 4.84 3.0 4.84 g/t Au and 3.0 g/t Ag over 1.50m
41.00 42.00 1.00 55.23 74.0 42.79 g/t Au and 59.9 g/t Ag over 1.70m 42.00 42.70 0.70 25.01 39.7
LC19-105
9.00 10.50 1.50 1.45 7.3 1.45 g/t Au and 7.3 g/t Ag over 1.50m
32.50 33.50 1.00 2.06 3.5
19.34 g/t Au and 13.6 g/t Ag over
4.90m; included 42.55 g/t Au and 24.7
g/t Ag over 2.10m
33.50 34.60 1.10 62.34 24.2
34.60 35.60 1.00 20.78 25.2
35.60 36.30 0.70 1.42 8.3
36.30 37.40 1.10 2.14 5.0
LC19-106 28.15 29.10 0.95 36.05 17.2 16.59 g/t Au and 10.7 g/t Ag over 2.15m 29.10 30.30 1.20 1.19 5.6
LC19-107
24.20 25.40 1.20 6.53 7.1
8.86 g/t Au and 10.9 g/t Ag over 3.20m 25.40 26.40 1.00 17.42 21.5
26.40 27.40 1.00 3.10 4.9
The mineralized intervals shown above utilize a 1.0 g/t gold cu t-off grade with not more than 1.0 meter of internal
dilution. *Lengths are reported as core lengths. True widths vary depending on drill hole dip, the veins are shallow
dipping and typical true widths are 85-100% of the dow nhole width. **All reported drill results in this press
release used the metallic screening method.
Sampling, Assaying, QA/QC and Data Verification
Drill core was continuously sampled from inception to terminati on of the drill hole. Sample intervals were
typically one meter. Drill core diameter was HQ (6.35 centimet ers). Geologic and geotechnical data was captured
into a digital database, core w as photographed, then one-half s plit 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 Ve ritas and pulps were sent to the Bureau Veritas
laboratory in Vancouver for analysis. Gold was analyzed by sta ndard fire assay fusion, 30 gram aliquot, AAS
finish. Samples returning over 10.0 g/t gold are analyzed util izing standard Fire Assay-Gravimetric method. Due
to the presence of coarse gold, the Company has used 500-gram m etallic screened gold assays for analyzing
samples that yielded a fire assay result greater than 1 g/t, an d samples immediately above and below drilled veins.
This method, which analyzes a larger sample, can be more precis e in high-grade vein systems containing coarse
gold. All reported drill results in this press release used the metallic screening method. The Company follows
industry standards in its QA&QC procedures. Control samples con sisting 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. No top cut has been applied to the reported assay results.
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Qualified Person
John M. Kowalchuk, P.Geo, a geol ogist and qualified person (as defined under National Instrument 43-101) has
read and approved the technical information contained in this p ress release. Mr. Kowalchuk is a senior geologist
and 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 firm. The Company is
developing its high-grade San Albino gold project in Nueva Sego via, 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, Chie f Executive Officer, Telephone: 203-862-7059,
E-mail: [email protected] o r v i s i t o u r w e b s i t e a t www.makominingcorp.com a n d S E D A R
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 Company’s exploration and in- fill drilling programs will be succes sfully completed; that any
outstanding assay results will be as anticipated; that the newl y discovered Bayacun Zone represents a potential southeast
extension of the Mango Zone; in the event that the Bayacun Z one connects to the surrounding zones, it could significantly
expand the strike and dip of the Las Conchitas area; that the intercepts as noted in this presss release are shallow enough to be
amenable to open pit mining; the planned first time drilling in the area near Mako’s El Jicaro concession will occur later this
year; that the plans of the Company to move the four drill rigs currently focused on infill drilling at San Albino to Las
Conchitas and the numerous unexplored targets throughout the Company’s 138 square kilometer land package will occur later
this year; that the planned further step-out drilling to test the continuity of near surface, high-grade gold mineralization to
increase the Company’s understanding of the overall grade and size of the Bayacu n Zone discovery w ill be successful. 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 the Bayacun Zone and the Rosibel Zone will not be obtained; 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. 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 re lating to political risks involving the Co mpany’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 as outlined in the continuous disclosure docume nts of the Company filed on SEDAR at www.sedar.com. The
forward-looking 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 Albina-Murra property 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 Prov ider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.