Mako Mining – High-Grade Drill Results From The SouthWest Pit, And Operational Update At The San Albino Mine

Akiba Leisman, President and CEO of Mako Mining (TSX.V:MKO – OTCQX:MAKOF), joins us for an exploration update at the Southwest Pit and the Los Conchitas Project, as well as an operations update at the San Albino Gold Mine in Nicaragua.  We started off reviewing some of the recent high-grade gold drill results from the 2 drill rigs that had been operating last year at the Southwest Pit. Some drilling highlights released today were intercepts of 98.50 g/t Au and 66.3 g/t Ag over 1.9m, including 168.30 g/t Au and 110.0 g/t Ag over 1.1m; along with another intercept of 52.66 g/t Au and 47.2 g/t Ag over 2.0m, including 78.14 g/t Au and 69.6 g/t Ag over 1.2m.   These results are all feeding into an updated resource estimate for this SouthWest pit near San Albino  in the first half of 2023, which will be followed by an updated mine plan and economics.


In addition, in 2022 exploration team had deployed 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.  With solid results reported previously and still to be returned from this drill campaign in the months to come, this area will see it’s first maiden resource estimate reported in tandem with the overall resource update in late Q1 or possibly in early Q2, due to logistics.


On the operations front, things have been going much better since October of last year and this is setting up for projected better numbers in Q4, once they get reported in a few weeks. While the “preg-robbing” from the carbon in the ore and leach had impacted Q2 and part of Q3 production in 2022, the proper adjustments to the process were made, and recovery rates have improved significantly since Q3 of last year. Currently the mill is running above capacity many days with throughput reaching over 600 tonnes per day, and this production improvement will carry forward into 2023.


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