The La Segoviana Concession covers approximately approximately 38.5 km2 and is contiguous to the north and northwest of the company’s San Albino-Murra concession in Nueva Segovia, Nicaragua
Initial mapping and sampling identified at least four prospects within the La Segoviana Concession with high-grade gold values and vein-characteristics like those currently being mined at the San Albino Deposit 21 km south. Approximately 6 km of strike potential have been identified within the La Segoviana Concession.
Assay results from channel samples include 40.70 g/t gold and 16.1 g/t silver over 1.0 metre; 43.50 g/t gold and 40.3 g/t silver over 1.0 metre; and 38.20 g/t gold and 33.1 g/t silver over 1.0 metre.
Akiba Leisman, CEO of Mako, stated that, “We are always working on three objectives simultaneously; commercializing our 500 tonne-per-day mining operation at San Albino, developing a resource at Las Conchitas to double the size of our operations, and proving that we have an orogenic gold mining district. Today’s reconnaissance results and those released last year on the Potrerillos Concession are part of an ongoing regional exploration program that will soon include drilling at these and others prospective targets across our approximately 188 km2 land package.”
The current reconnaissance exploration program covers the northern portion of the La Segoviana Concession and includes geological mapping and sampling of exposed mineralized veins, local mine dumps and, where safely accessible, underground workings.
The primary goal is to collect key structural data of mineralized veins, confirm the high-grade nature of gold mineralization and map historical surface and underground workings. This data will be used to prioritize targets for follow-up exploration and drilling.
Initial mapping and sampling at the La Segoviana Concession are confirming the existence of high-grade gold mineralization over a significant strike potential at four prospects including, El Silencio, La Reforma, San Luis-Caballo and Minas America. To date, the grade, attitude, minerology, and width of the veins identified at the La Segoviana Concession are similar to the veins currently being mined at the San Albino Deposit. A total of 35 channel samples were collected with 23 samples representing the in-situ vein and 12 dump samples. Assays range from 0.02 to 43.5 g/t gold, with 12 samples reporting over 10 g/t gold and 15 samples reporting 1-10 g/t gold.