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,
Chief Executive Officer
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.