Mako Mining (TSXV: MKO; OTCQX: MAKOF) operates the San Albino gold mine in Nicaragua, one of the highest-grade open pit gold mines in the world.
Record Q4 2023: as reported in January 2024, Q4 2023 was a record financial and operational quarter for Mako.
Cash generating operation: In Q4, Mako repaid outstanding debt principal, reduced payables, invested in exploration and repurchased shares from mine cash flow. Full Q4 financials are expected in April.
Current run rate ~600t/d (582 t/d in Q4) and permitted for up to 1,000t/d.
Las Conchitas Addition: Following an October 2023 initial resource for the permitted Las Conchitas deposit, by January 2024, Mako was mining high-grade zones at Las Conchitas South to supplement production from San Albino.
Current mill feed at the San Albino mine is a split between diluted vein material and mineralized material at site above cut-off. Las Conchitas is a source of high-grade mill feed to supplement San Albino deposit output.
Based on the latest update, San Albino deposit measured and indicated gold resources total 112.9 koz, at 11.75 g/t; plus 81.5koz inferred, at 10.53 g/t. Las Conchitas adds 137.3koz indicated at 11.5 g/t and 48.4koz inferred at 10.56 g/t.
District-Scale Upside: The San Albino mine sits within a 188-sq.-km land package with +28-km of orogenic-style mineralization defined along strike. Mako is advancing a pipeline of exploration targets.
+32,000m of drilling planned for 2024
14 target areas identified across the Corona de Oro Gold Belt.
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