Mako Mining (TSXV: MKO) this morning announced the completion of the second full bench at its San Albino gold project. The company mined two half benches between the 610 and 604 metre levels, resulting in 1,532 ounces of gold and 2,569 ounces of silver within 2,467 tonnes of diluted vein material.
More significantly, the material itself overall graded 19.32 g/t gold and 32.4 g/t silver – a notable improvement from the 11.74 g/t gold and 17.7 g/t silver that the company encountered within the 610 bench previously. A further 12,840 tonnes of historic dump material was also mined from the current bench, grading 2.35 g/t gold. 19,334 tonnes of waste was mined in the current bench, compared to 33,777 tonnes of waste in the first bench.
To date, 5,121 of diluted vein material has been mined by Mako at the San Albino project, with the two benches carrying an average grade of 15.39 g/t gold and 24.8 g/t gold, with total contained minerals including 2,534 ounces of gold and 4,080 ounces of silver. This figure appears to be short slightly of the recently revised mineral resource estimate conducted on the property, which notably significantly reduced the mineral resource estimate of the property.
The revised estimate called for a total of 6,117 tonnes of rock to be contained within the two benches, albeit at a lower grade of 13.52 g/t gold and 18.7 g/t silver for a total contained ounces of 2,659 ounces gold and 3,678 ounces silver. While gold ounces came in low relative to the estimate, it did so in a notably smaller amount of diluted vein material at a higher grade.
The company is still anticipating the first gold pour to occur in January 2021, with the full ramp to commercial production expected to be completed by early Q2.
Mako Mining last traded at $0.32 on the TSX Venture.
Information for this briefing was found via Sedar and Maritime Resources Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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