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Mako Mining Corp.
Summary
| Project: | San Albina-Murra | |
|---|---|---|
| Deposit: | Bayacun | |
| Location: | Nicaragua | |
| Commodities: | Gold-Silver | |
| Date: | 9/10/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-9-2019: Mako Mining Corp. announces an Exploration/Drilling Update report for its Bayacun deposit at the San Albina-Murra project. Drilling results incl. 4.90m @ 19.34g/t Au, 13.6g/t Ag. Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “Company”) is pleas | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: John Kowalchuk (Not stated) | |
| ABSTRACT: | Mako Mining Corp. (TSX-V: MKO) (“Mako” or the “Company”) is pleased to report the 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 historic Bayacun mine, approximately three kilometers south of the San Albino gold project, which is currently under construction (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 north (see press releases dated May 6, 2019 and May 21, 2019) and the Las Dolores Zone to the east (see press release dated July 25, 2019). The new Bayacun Zone is trending in a northeast-southwest direction, and shallowly dips to the northwest, representing a potential southeast extension of the Mango Zone. Further drilling is planned for later 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 include LC19-104 which intersected 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 this 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 further south to the nearby El Golfo mill for processing. The mill, along with the historic El Golfo mine, are located within Mako’s El Jicaro concession, an area which the Company plans to drill for the first time later this year. | |
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