HighGold Mining

Mako Mining Receives Permit Amendment to Process Up To 1,000 Tonnes Per Day

VANCOUVER, BC, Aug. 24, 2020 /CNW/ - Mako Mining Corp. (TSXV: MKO); (OTCQX: MAKOF) ("Mako" or the "Company") is pleased to report that the Ministry of Environmental and Natural Resources ("MARENA") has amended the environmental permit granted to the Company in 2017 (see press release dated September 12, 2017) to allow for the processing of up to 1,000 tonnes per day ("tpd") at the San Albino gold project in Nueva Segovia, Nicaragua ("San Albino").

The amendment is initially effective for a period of five years and can be renewed indefinitely so long as the Company complies with the conditions set forth by MARENA. All other provisions contained in the environmental permit granted in 2017 remain in force and are fully applicable apart from the increased throughput from 500tpd to 1,000tpd.

Akiba Leisman, Chief Executive Officer of Mako states, "I would personally like to thank MARENA on behalf of our entire team for expeditiously amending our existing permit to accommodate a higher throughput. This is yet another example of Nicaragua's continued support of the mining industry. Since taking over as permanent CEO in August 2019, I challenged our operating team to design a processing plant capable of expanding from 500tpd to 1,000tpd with minor modifications, to amend the existing environmental permit to allow for the increase in throughput and to delineate a resource amenable to open pit mining at Las Conchitas. Two of the three goals are now complete. Drilling at Las Conchitas is ongoing with results expected to be released over the next few weeks."

On behalf of the Board,

Akiba Leisman
Chief Executive Officer

About Mako

Mako Mining Corp. is a publicly listed gold mining, development and exploration firm. The Company is developing its high-grade San Albino gold project in Nueva Segovia, Nicaragua. Mako's primary objective is to bring San Albino into production quickly and efficiently, while continuing exploration of prospective targets in Nicaragua.

Forward-Looking Information:  Some of the statements contained herein may be considered "forward-looking information" within the meaning of applicable securities laws. The forward-looking information contained herein is based on the Company's plans and certain expectations and assumptions, including obtaining positive results from ongoing drilling work at Las Conchitas; Mako being able to comply with the terms and conditions set forth by MARENA and renew the initial term of the environmental permit, as necessary; that the government will continue to support the mining industry in Nicaragua. Such forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation, that the Company does not continue to obtain positive results from drilling program at Las Conchitas; that the Company is unable to comply with the terms and conditions set out by MARENA in order to maintain its environmental permit; adverse governmental and political changes in Nicaragua and other risks and uncertainties as disclosed in the Company's public disclosure filings on SEDAR at www.sedar.com. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available and is included for the purposes of providing investors with the Company's plans and expectations regarding San Albino and the Las Conchitas area, and may not be appropriate for other purposes.  Mako does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Sign Up To Receive All Morning
News To Your Email Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

Mako Mining

Last Trade: C$0.43
Daily Change: -0.005 -1.15
Daily Volume: 69,858
Market Cap: C$281.170M
Mako Mining: Mining of First Full Bench Containing the San Albino Vein Yields 1,002 Ounces Gold at a Diluted Grade of 11.74 g/t Gold
Mako Mining: Ongoing Reconnaissance Exploration Program on Both Potrerillos and San Albino-Murra Further Extends Strike Potential of San Albino to Approximately 6.7 Kilometers
Mako Mining: Drilling at Las Conchitas Hits Multiple Intercepts at the Bayacun Zone, Highlighted by 22.26 g/t Gold Over 4.30 Meters (True Width) Within a Wider Mineralized Zone of 16.1 Meters (True Width)
Mako Mining Receives Shareholder Approval for Amendments to its Articles
Mako Mining Annual General and Special Meeting Reminder and Protocols
Mako Mining: Reconnaissance Exploration Program at Recently Acquired Potrerillos Concession Yields High-Grade Results, Extending Strike Potential of San Albino by Approximately 3.5 Kilometers
Mako Mining: Drilling at San Albino Intersects 20.04 g/t Gold Over 2.1 Meters (Estimated True Width) With Updated Mineral Resource Estimate Still Expected in Q3
Mako Mining Announces Stock Option Grants
Mako Mining: Drilling at San Albino Intersects 21.61 g/t Gold Over 4.5 Meters (Estimated True Width) Outside of the 2015 Pea Pit Limits
Mako Mining Announces Closing of $28.4 Million Private Placement of Units
Mako Mining Announces Exercise of Participation Right by Wexford Capital in Previously Announced Private Placement Offering
Mako Mining announces intention to rely on BC Instrument 51-516

Giga Metals

Giga Metals

Giga Metals is currently updating a Preliminary Economic Assessment (PEA) on its 100% owned Turnagain project. Turnagain is one of the largest undeveloped nickel-cobalt sulphide deposits in the world located in northern British Columbia. The project comes at an opportune time given growing demand in the EV industry for nickel and cobalt. The current NI 43-101 compliant resource contains 5.2 Blbs of nickel and 312 Mlbs of cobalt in the measured and indicated categories... LEARN MORE