“These drill outcomes additional verify the potential to broaden high-grade mineralization in areas the place we’re at the moment mining,” CEO Akiba Leisman mentioned in a information launch. “What’s notably thrilling is the high-grade outcomes from our regional exploration program. Most of those samples come from areas which have by no means been drilled earlier than, and we’re already getting ready to start drilling these promising targets.”
Within the El Golfo Space, 3 km south of San Albino, outcomes embrace 62.2 grams gold and 71.2 grams silver over 1 metre, 86.80 grams gold and 111 grams silver over 1 metre, and 21.65 grams gold and 33.4 grams silver over 3 metres. Within the Santa Rosa Space, 5 km east of San Albino, channel samples returned 358.6 grams gold and 87.9 grams silver per tonne over 1 metre, and 141.6 grams gold and 13.1 grams silver over 0.4 metre.
Shares gained a lacklustre 0.6% in intraday buying and selling to C$3.15 earlier than settling at C$3.12, giving it a market capitalization of C$245.8 million. Shares touched C$1.16 and C$3.74 previously 12 months.
Guyana pivot
Mako operates the high-grade San Albino gold mine in Nicaragua, which recovered 34,982 oz. final 12 months. The corporate intends to make use of San Albino money flows to fund the 66,500 oz. per 12 months (over 15 years) Eagle Mountain growth in Guyana, which it acquired by means of the Goldsource Mines acquisition in March.
Mako expects to provide 42,819 oz. gold in 2024. San Albino started manufacturing within the second quarter of 2021.
Different outcomes from the Intermediate vein additionally embrace 19.31 grams gold and 43.4 grams silver per tonne over 4 metres. In Las Conchitas South, the Las Dolores vein produced 16.83 grams gold and 26.4 grams silver over 6 metres, whereas the El Limon vein minimize 12.27 grams gold and seven.1 grams silver over 3 metres.
The regional reconnaissance program additionally delivered spectacular outcomes, with samples from the El Golfo and Santa Rosa areas yielding gold grades as excessive as 358.6 grams gold per tonne over 1 metre.
San Albino holds a measured and indicated useful resource of 670,100 tonnes grading 11.6 grams gold and 16.5 grams silver for 250,200 oz. and 355,000 oz. of metallic, respectively. Eagle Mountain hosts indicated assets of 31.1 million tonnes at 1.18 grams gold per tonne for 1.2 million ouncesof metallic.
The corporate subsequent plans to undertake about 10,000 metres of drilling for underground growth beginning later this 12 months.