Mako Mining Corp. [MKO-TSXV; MAKOF-OTCQB] reported positive results from definition drilling around the West Pit area at its 100%-owned San Albino gold project in Nueva Segovia, Nicaragua.
The objectives were to delineate the geometry of resources amenable to open-pit mining and to provide sufficient data for a new resource estimate being prepared by Mine Development Associates.
The four holes reported had significant intercepts outside of the previously defined pit limits that supply the mill feed for open-pit mining disclosed in a preliminary economic assessment.
A highlight was hole SA20-503, which intersected 21.61 g/t gold and 41.9 g/t silver over 5 metres (4.5 metres estimated true width (TW)) approximately 64 metres below surface and approximately 4 metres below the West Pit limit disclosed in the PEA.
SA20-506 intersected 5.37 g/t gold and 20.3 g/t silver over 4.3 metres (2.74 metres TW) 85 metres below surface and 34.4 metres below the West Pit limit in the PEA.
SA20-490 and SA20-498 were designed to test an extension of the San Albino Zone to the southwest. SA20-490 intersected 20.4 g/t gold and 49.3 g/t silver over 1.25 metres (1.03 metres estimated TW) 28.4 metres from surface and approximately 100 metres southwest of the West Pit limit disclosed in the PEA.
SA20-498 intersected 9.79 g/t gold and 31.3 g/t silver over 3.3 metres (1.84 metres estimated TW) 42 metres below surface and about 80 metres southwest of the West Pit limit in the PEA.
Also noteworthy were holes SA20-457, SA20-504, SA20-507 and SA20-509, which provide evidence of continuity of an up-thrown block across a fault that brings the San Albino Zone 20 metres closer to surface than previous down-dip projections. The highlight was SA20-457, which intersected 27.7 g/t gold and 26.2 g/t silver over 3.1 metres (1.98 metres estimated TW) 32 metres below surface.
Akiba Leisman, CEO, stated: “Although assays from these holes came back after the original cut-off date for preparing the updated mineral resource estimate, the company and MDA concluded that they are significant and should be included in the updated mineral resources estimate. Importantly, the updated resource estimate is still on track to be delivered this quarter.”