Mako Mining drills 23.11 g/t gold over 5.5 metres at Las Conchitas

Mako Mining Corp. [MKO-TSXV; MAKOF-OTCQB] reported positive drill results from the Bayacun zone within the Las Conchitas area of its 100%-owned San Albino-Murra property, located in Nueva Segovia, Nicaragua. The Las Conchitas area is located approximately 2.5 km south of the fully permitted San Albino gold project, which is currently under construction.

The goal of the 2020 drill program at Las Conchitas is to focus on the most promising zones of near-surface, shallow-dipping, high-grade gold mineralization in order to delineate a maiden resource estimate. Since 2019, the company has completed 65 shallow diamond drill holes totalling 4,351.7 metres within the Bayacun Zone, which is among the most promising zones within the Las Conchitas area. A total of 15,052.75 metres in 197 holes have been drilled at Las Conchitas since the start of the 2019/2020 drilling campaign.

This press release includes 23 holes with assay results from the Bayacun Zone. Additionally, the company previously released assay results from 15 holes from the Bayacun Zone. A breakdown of the 38 holes reported to date is as follows:

• 20 holes with composite interval averages greater than 15 g/t gold, including nine in this press release;
• 9 holes with composite interval averages ranging from 5 g/t gold to 15 g/t gold, including eight in this press release;
• 5 holes with composite interval averages ranging from 1 g/t Au to 5 g/t gold, including three in this press release;
• 3 holes with values below cut-off grade (less than 1 g/t gold), all reported in this press release, with one intersecting a dike where the vein was expected and the other two disturbed by faults.

Importantly, 23 of the 38 holes reported to date at the Bayacun Zone encountered at least one assay greater than 15 g/t gold.

The highest-grade interval reported in this press release comes from hole LC20-234, which was designed to test the strike extension of the Bayacun Zone encountered in previous drilling. Specifically, LC20-234 intersected 23.11 g/t gold and 20.5 g/t silver over 5.5 metres immediately below a void and a sample of mineralized quartz vein grading 7.61 g/t gold and 9.7 g/t silver over 0.6 metres. It is assumed that a portion of the mineralized zone (1.9 m wide) has been mined out, and the downhole and true thicknesses of the entire zone are calculated as 8 metres and 4.4 metres, respectively. Mineralization in this hole begins 14.6 metres from surface.

Other notable intercepts include LC20-220, which intersected 93.3 g/t gold and 61.4 g/t silver over 0.9 metres, and LC20-161, which intersected 27.14 g/t gold and 1.7 g/t silver over 2.2 metres. LC20-161 was drilled to test the down-dip continuity of the zone, which has now been expanded to over 160 metres.

Drill results to date from the Bayacun Zone indicate approximate dimensions of 180 metres along strike by 160 metres down dip, and the zone continues to be open along strike and at depth.

In addition to drilling, assay results from sampling within exploration pit LC20-EP142 indicate that the strike dimensions of the Bayacun Zone have the potential of being meaningfully expanded. Specifically, exploration pit LC20-EP142 is situated approximately 200 metres from the Rosibel pit and dump, and has returned channel sample assays of: 27.9 g/t gold and 43.9 g/t gold over 0.8 metres (vertical); 17.6 g/t gold and 26.1 g/t silver over 1.2 metres (true width); and 16.9 g/t gold and 33.1 g/t silver over 0.8 metres (vertical). The channel samples are continuous samples perpendicular to the vein using a rock saw and chisel to collect a consistent 10-centimetre-wide by 8-centimetre-deep sample.

Drilling is presently being focused down dip of the surface exposure in exploration pit LC20-EP142 to confirm the potential strike expansion.

Akiba Leisman, CEO of Mako, stated: “These high-grade shallow intercepts at Bayacun have been extremely predictable now that our understanding of the geologic controls at this zone have been refined. Although the results at Bayacun are noteworthy, it is important to remember that Bayacun is only a part of the overall Las Conchitas area. There remains a multitude of targets at Las Conchitas that have seen promising results with only limited drilling, and our overall goal is to link these targets together into a maiden resource to supplement mining activities a few kilometres to the north at San Albino.”

Refer to company press release for complete drill results. There are 27 additional drill holes still awaiting assay results from the Bayacun Zone.

Mako’s primary objective is to bring San Albino into production quickly and efficiently, while continuing exploration of prospective targets in Nicaragua.