2022-01-11 10:29 ET - News Release
Mr. Akiba Leisman reports
MAKO MINING REPORTS POSITIVE RESOURCE RECONCILIATION
Mako Mining Corp. has released grade and tonnage results from mining the first 12 benches of the San Albino vein at its San Albino gold project in northern Nicaragua. The mined benches consisted of 12 six-metre benches between 616 and 550 metres above sea level and contained a total of 32,208 ounces gold and 55,687 ounces silver within 103,783 tonnes of diluted vein material grading 9.72 grams per tonne Au and 16.69 g/t Ag.
The diluted vein material mined at San Albino thus far has positively reconciled on both grade and ounces by 10 per cent and 2.5 per cent respectively, to the mineral resource estimate prepared by Mine Development Associates (MDA), a division of RESPEC, out of Reno, Nev. A technical report for the updated mineral resource estimate was filed in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects under the company's SEDAR profile and is also available on the company's website (see press release dated Oct. 19, 2020). In comparison, 110,496 tonnes at a grade of 8.85 g/t Au and 16.8 g/t Ag containing 31,424 ounces Au and 59,682 ounces Ag over the same 12 benches were modelled in the MDA resource.
To date, areas mined in the MDA resource contained 40 per cent measured resources, 25 per cent indicated resources and 35 per cent inferred resources.
Akiba Leisman, chief executive officer of Mako, states: "We are extremely happy with performance of the MDA resource model thus far. Management and MDA intentionally used conservative assumptions to account for dilution in the resource model, so the 10-per-cent positive grade reconciliation is welcome news, but not a surprise. The information we have received from mining these 12 benches thus far have not only validated our geological model, but also, they are providing invaluable information to aid in the delineation of additional deposits at Las Conchitas and elsewhere on our 188-square-kilometre district."