NOTICE TO READER To: British Columbia Securities Commission Alberta Securities Commission Manitoba Securities Commission Ontario Securities Commission Re: Mako Mining Corp. To whom it may concern,
WaterPark Place
88 Queens Quay West, Suite 3000
Toronto, Ontario M5J 0B8
Canada
September 23, 2019
NOTICE TO READER
To: British Columbia Securities Commission
Alberta Securities Commission
Manitoba Securities Commission
Ontario Securities Commission
Re: Mako Mining Corp.
To whom it may concern,
Please note at the time of filing the News Release for Mako Mining Corp. on September 4, 2019,
maps were accidentally omitted.
The attached News Release filed as submission #2 of Sedar project number 2964578 supersedes
submission #1 of the same Sedar project number.
Thank-you,
(signed) Patricia Pauta
Patricia Pauta
Manager
Cision
Regulatory Filing Services
1-800-825-6133
1
595 Burrard Street, Suite 2833
Vancouver, BC V7X 1K8
Tel: (604) 646-1580
www.makominingcorp.com
TSX-V: MKO | OTCQB: MAKOF
September 4, 2019
PRESS RELEASE - #19-14
TSX-V: MKO
INFILL DRILLING AT SAN ALBINO INTERSECTS 60.72 g/t GOLD AND 66.4 g/t SILVER
OVER 3.1 METERS (ESTIMATED TRUE WIDTH)
Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “ Company”) is pleased to report positive results from the
infill drilling program at its wholly -owned San Albino gold project (“San Albino”) located in Nueva Segovia,
Nicaragua.
As part of the ongoing pre -development work at San Albino, approximately 2,200 m of infill grade-control drilling
has been completed in 69 diamond drill holes focused on the San Albino Zone within the West Pit (see attached
map). Assay results have been r eceived for the first 16 holes , nine of which intersected the San Albino Zone as
projected, four holes encountered historic workings where the San Albino Zone was projected and three holes
intersected historic dump material in the shallow projections of the San Albino Zone.
The highlight of the infill drilling program thus far is hole SA19 -155 which intersected 21.8 g/t Au and 63.0 g/t Ag
over 3.0 m (1.5 m estimated true width) and 60.72 g/t Au and 66.4 g/t Ag over 6.5 m (3.1 m estimated true width).
The mineralization starts approximately four meters from surface and t he two intercepts are separated by only 1.5
m grading 0.86 g/t Au and 6.1 g/t Ag (see attached cross section).
The mineralization in SA19 -155 is hosted in what the Company is calling Po rcelana-style mineralization, which is
described as a very large, coherent, unfractured quartz vein that typically contains visible gold (“Porcelana”). This
style of mineralization is part of the San Albino Zone and was first drilled in 2016 as part of a metallurgical/infill
drilling program (see press release dated June 16, 2016). Importantly, the 2016 and 2019 drill holes containing
Porcelana are not included in the Company’s Preliminary Economic Assessment for the San Albino Gold Deposit
dated April 29, 2015 (the “PEA”) and available on the Company’s website and under the profile of the Company on
SEDAR at www.sedar.com.
In order to drill the strike and down dip extension of the area within the San Albino Zone containing Porcelana , the
Company has decided to designate one drill rig to this area while a fifth drill rig has been requisitioned to complete
the planned infill drilling elsewhere on the San Albino property as scheduled.
Akiba Leisman, Chief Executive Officer of Mako states “SA19-155 is one of the highest grade-thickness intercepts
drilled at San Albino to date. The fact that this mineralization starts approximately four meters from surface and is
within our current open pit mine plan means that even small amounts of strike and dip extensions of Porcelana-style
mineralization may have a material impact on the economics of the S an Albino gold project. Mako has dedicated a
rig for the sole purpose of finding extensions of this area, and the Company is fully prepared to adjust its mine plan
to bring these ounces into production earlier if drilling results support this decision.”
Furthermore, certain infill drill holes focused on the San Albino Zone have hit grades well in excess of the average
resource grade in the PEA highlighted by SA19 -144 which intersected 84.7 g/t Au and 158 g/t Ag over 0.8 m
(estimated true width) and SA19 -145 which intersected 73.2 g/t Au and 105 g/t Ag over 1.3 m (estimated true
width).
2
Although the focus of the current infill drilling program was the San Albino Zone within the West Pit , three infill
holes were drilled into the Arras Zone totaling 140.4 m (see attached map). The Arras Zone projects near surface to
the southeast of the West Pit in the Central Pit area. The best of the three holes drilled into the Arras Zone was
AR19-115 which intersected 24.18 g/t Au and 28.5 g/t Ag over 6.45 m (5.9 m estimated true width) approximately
29 m from surface.
Mako began drilling the Arras Zone as new drill pads were being prepared for drilling at the San Albino Zone. The
results from Arras Zone will be followed up on after the ongoing 6,000 m West Pit infill program is completed later
this year.
2019 Infill Drilling Program Assay Results
Drill Hole
From
(m)
To
(m)
Width
(m)
Au
(g/t)*
Ag
(g/t)*
Zone /
Comments Interval Averages
True
Width
(m)**
SA19-144 16.8 17.6 0.8 84.70 158.0 San Albino Zone
84.70 g/t Au and 158.0 g/t Ag
over 0.80 m 0.8
SA19-145 14.3 15.6 1.3 73.20 105.0 San Albino Zone
73.20 g/t Au and 105.0 g/t Ag
over 1.30 m 1.3
SA19-146 25.7 26.7 1.0 5.93 30.8 San Albino Zone
5.93 g/t Au and 30.8 g/t Ag
over 1.00 m 1.0
SA19-147 -- -- -- -- -- Void -- --
SA19-148
-- -- -- -- -- Void -- --
24.1 25.1 1.0 22.50 41.6 San Albino Zone 11.82 g/t Au and 22.3 g/t Ag
over 2.00 m 1.9
25.1 26.1 1.0 1.14 2.9
SA19-149 -- -- -- -- -- Void -- --
SA19-150 -- -- -- -- -- Void -- --
SA19-151
-- -- -- -- -- Void -- --
6.1 7.2 1.1 9.83 23.4
San Albino Zone 8.62 g/t Au and 19.7 g/t Ag
over 4.10 m 2.8 7.2 8.2 1.0 10.30 25.3
8.2 9.2 1.0 10.60 16.0
9.2 10.2 1.0 3.62 13.7
SA19-152 -- -- -- -- -- Historic Dump -- --
SA19-153 -- -- -- -- -- Historic Dump -- --
SA19-154
4.7 5.7 1.0 8.33 10.0
San Albino Zone 11.65 g/t Au and 16.6 g/t Ag
over 3.10 m 2.1 5.7 6.8 1.1 6.43 18.9
6.8 7.8 1.0 20.70 30.5
SA19-155
8.5 9.5 1.0 30.00 62.0
San Albino Zone (Upper) 21.75 g/t Au and 63.0 g/t Ag
over 3.00 m 1.5 9.5 10.5 1.0 30.40 90.0
10.5 11.5 1.0 4.86 37.1
11.5 13.0 1.5 0.86 6.1
1.5 m sample not included
in composites -- --
13.0 14.0 1.0 80.40 72.0
San Albino Zone (Lower) 60.72 g/t Au and 66.4 g/t Ag
over 6.50 m 3.1
14.0 15.0 1.0 54.50 66.0
15.0 16.0 1.0 169.00 134.0
16.0 17.0 1.0 73.70 107.0
17.0 18.5 1.5 10.30 31.0
18.5 19.5 1.0 1.62 6.4
3
SA19-156 -- -- -- -- -- Historic Dump -- --
SA19-157 28.5 29.5 1.0 15.20 24.9 San Albino Zone
15.20 g/t Au and 24.9 g/t Ag
over 1.00 m 0.9
SA19-158 33.1 34.5 1.4 33.20 39.3 San Albino Zone
33.20 g/t Au and 39.3 g/t Ag
over 1.40 m 1.3
SA19-159 34.2 35.2 1.0 6.21 24.4 San Albino Zone
6.21 g/t Au and 24.4 g/t Ag
over 1.00 m 1.0
AR19-114
***
-- -- -- -- -- Void -- --
-- -- -- -- -- Void -- --
AR19-115
***
23.90 25.00 1.10 44.00 32.3
Arras Zone 24.18 g/t Au and 28.5 g/t Ag
over 6.45 m 5.9
25.00 25.75 0.75 19.00 21.2
25.75 27.50 1.75 39.40 38.6
27.50 29.25 1.75 5.57 21.5
29.25 30.35 1.10 13.30 24.5
AR19-116
*** 20.90 22.00 1.10 19.20 16.8 Arras Zone
19.20 g/t Au and 16.8 g/t Ag
over 1.10 m 1.1
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. *Indicates fire assays with gravimetric finish, assays utilizing the metallic screening method are pending.
**True width is estimated from interpreted sections. ***Indicates use of metallic screening method for assays.
These results will be incorporated into our production model and initial mine plan, where the company anticipates
beginning commercial production by late summe r of 2020. The Company does not intend to complete a
Prefeasibility or Feasibility Study prior to commencing production.
The Company advises that it is not basing its production decision on a feasibility study of mineral reserves
demonstrating economic a nd technical viability, and, as a result, there may be an increased uncertainty of
achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks
associated with developing a commercially minable deposit. Accordingly, there are multiple technical and
economic risks of failure which are associated with this production decision. These risks, among others, include
areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and
reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery
methods, market analysis, and environmental and community impacts. The Company’s PEA is available under the
Company’s profile on SEDAR at www.sedar.com.
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). 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. Samples were kept in a s ecured 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 fire assay fusion, 30 gram aliquot, AAS
finish. Samples returning over 10.0 g/t gold are analyzed utilizing standard Fire 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 p ress release used the standard Fire Assay -Gravimetric method unless
otherwise indicated as using the metallic screening method . The Company follows industry stan dards 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. A nalytical results of control samples confirmed
reliability of the assay data. No top cut has been applied to the reported assay results.
4
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
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: Mako Mining Corp., 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 Statements: Some of the statements contained herein may be considered “forward -looking information”
within the meaning of applicable securities laws. Forward-looking information is based on certain expectations and
assumptions, including that the Company’s exploration and in-fill drilling programs will be successfully completed; that any
outstanding assay results will be as anticipated; that the Porcelana-style mineralization discovered is anticipated to have a
material impact on the economics of the San Albino gold project; that the Company will be able to successfully adjust its mine
plan based on anticipated successful drilling results; that al though 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 i ts 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. and
such other risk factors as outlined in the continuous disclosure documents of t he Company filed on SEDAR at www.sedar.com.
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 San Albino will not be obtained; 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 fai lure 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 uncert ainties relating to political risks
involving the Company’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 inabil ity 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 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.