Mako Mining – Q1 2022 Financials And 2 New Veins Discovered At The San Pablo Zone
Akiba Leisman, President and CEO of Mako Mining (TSX.V:MKO – OTCQX:MAKOF), joins us to review the Q1 2022 financials and an exploration update at the San Albino Gold Mine in northern Nicaragua. With an average blended head-grade of 7 – 9 g/t gold, and a $862 Total Cash Costs and $1,104 All-In Sustaining Costs (“AISC”), the $17.3 million in revenue and $8.7 million in Mine Operating Cash is quite robust coming out of San Albino. We ask Akiba to unpack how the production profile will be expanding from 500 tpd to 1000 tpd, and where that growth will be coming from at San Albino, Las Conchitas, and eventually regional targets like La Segoviana and Porta Rios, to essentially double the production rate in 2023.
Next we dig into the drill results and new discovery the company just announced today at the San Pablo Zone at the Las Conchitas-North, where 19 holes have been drilled , which has resulted in the discovery of two new veins, the Mina Francisco and the Tirado vein. Some of the 5 first dill hole assays returned in this area include the Mina Francisco vein returning 51.80 g/t Au and 29.8 g/t Ag over 0.90 m (ETW), the San Pablo vein returning 27.60 g/t of Au and 17.1 g/t of Ag over 0.50 m (ETW), and the Tirado vein returning 39.30 g/t Au and 49.0 g/t Ag over 0.50m (0.4 m ETW). The company launched a $17 million exploration program in March for 2022 with the goal of drilling 110,000 meters at near mine and regional targets, and there will be continuing exploration news in the months to come.