Mako Mining – Q3 Production Update From San Albino Mine And Exploration Update From Las Conchitas
Akiba Leisman, President and CEO of Mako Mining (TSX.V:MKO – OTCQX:MAKOF), joins us for a comprehensive update on the operations at the San Albino mine, as well exploration at the Southwest Pit and the Los Conchitas Project. We start off with the breaking news this week regarding the US sanctions on Nicaragua and what if anything it has changed at the San Albino Gold Mine or exploration on the large land concession.
We then review the changes and tweaks the operations team made to the process on August 10th, to get gold recovery rates back up over the targeted 86%, and to handle the “preg-robbing” from the carbon in the ore and leach. While this impacted Q2 and part of Q3 production, the mill is running above capacity on throughput and recovery rates since those mid-August changes, and is projected to be reporting better numbers for Q4 and moving forward into 2023.
Next we shifted over to the solid exploration results and recent high-grade drill hits returned back from three different targets at the Las Conchitas Project. Drill results at Las Conchitas North included 42.59 g/t Au and 31.3 g/t Ag over 2.10 meters, and 26.66 g/t Au and 47.7 g/t Ag over 2.50 meters at Mina Francisco. Drill results at Las Conchitas Central included 25.07 g/t Au and 31.0 g/t Ag over 2.20 meters, and 27.30 g/t Au and 20.9 g/t Ag over 1.10 meter at Cruz Grande. Drill results at Las Conchitas South included 14.50 g/t Au and 10.8 g/t Ag over 0.60 meter, and 65.45 g/t Au and 41.7 g/t Ag over 1.80 meters at El Limon.
The Company currently has five of its seven diamond drill rigs in the Las Conchitas area, which is located between the San Albino Mine and the historical El Golfo Mine located within the Company’s El Jicaro Concession. There are also still 2 drill rigs operating near the San Albino Mine continuing to expand on the new discoveries and along strike at the Southwest Pit. These are all building towards a new resource estimate in the first half of 2023, which will be followed by an updated mine plan and economics.