Mako Mining Announces Plans For Self-Funded US$17.2 Million Exploration Program

Mako Mining (TSXV: MKO) this morning released its latest exploration results, while also revealing its extensive exploration plans for the full year. The results and subsequent exploration is set to take place at its San Albino Mine project, which is located in Northern Nicaragua.

Drill results released this morning come from the West pit of the San Albino mine, where drilling was focused on the northerly extension of the pit. The firm is looking to expand known mineralization for its current pit both along strike and downdip. Highlights from the results include:

  • SA21-560: 43.73 g/t gold and 24.5 g/t silver over 2.00 metres,
  • SA-21-550: 31.27 g/t gold and 26.5 g/t silver over 4.50 metres, and
  • SA21-555: 11.18 g/t gold and 13.3 g/t silver over 3.55 metres.

In terms of oncoming exploration at the property this year, the firm has allocated a budget of US$17.2 million for the full fiscal year, with a total of 110,080 metres of drilling via 9 rigs planned in aggregate. The purpose of the program is to define additional sources of production for the San Albino mill.

Exploration is to occur across the firms large property, with 56% of drilling focused on the Arras, San Albino North, las Conchitas North and las Conchitas Central mid-stage projects, 19% focused on the Potrerillos and La Segoviana early-stage projects, and 25% focused on the West Pit, SW Pit, and Las Conchitas South advanced-stage projects.

The exploration program is expected to be funded via current cash flow.

Mako Mining last traded at $0.375 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. 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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