Sailfish Provides Update on San Albino Stream and Royalty Following Mako's Recent Announcements and Share Price Appreciation
TSX VENTURE: FISH
TORTOLA, British Virgin Islands, Sept. 5, 2019 /CNW/ - Sailfish Royalty Corp. (TSX-V: FISH) (the "Company" or "Sailfish") is pleased to announce significant updates on the Company's San Albino stream and royalty.
On August 26, 2019 and September 4, 2019, Mako Mining Corp. ("Mako") publicly announced trench and drill results from the Naranjo, San Albino and Arras Zones within the San Albino gold project area (West and Central Pits) of its wholly-owned San Albino-Murra property located in Nueva Segovia, Nicaragua. The results reported in the announcements focus on near surface, high-grade mineralization not previously included in Mako's Preliminary Economic Assessment for the San Albino Gold Deposit dated April 29, 2015, which is available on Mako's website at www.makominingcorp.com and under their profile on SEDAR at www.sedar.com. Since the first announcement, Mako's share price has increased by approximately 67%.
These trench and drill results are on land where Sailfish has a gold stream equivalent to a 3% NSR as part of the restructuring of the Company's stream on the San Albino gold project (the "Stream Restructuring"). The Stream Restructuring was associated with the merger of Marlin Gold Mining Ltd. and Golden Reign Resources Ltd., which created Mako in 2018 (see Sailfish press release dated November 9, 2018).
Sailfish would like to remind its shareholders that the stream and royalty on the San Albino gold project and the surrounding district-scale land package are cornerstone assets of the Company and that upcoming exploration and project development updates provided by Mako should be monitored with increased interest.
Sailfish is a precious metals royalty and streaming company. Within Sailfish's portfolio are two cornerstone assets on advanced stage projects in the Americas: a gold stream equivalent to a 3% NSR on the San Albino gold project (~3.5 sq. km) and a 2% NSR on the rest of the area (~134.5 sq. km) surrounding San Albino in northern Nicaragua; and an up to 3.5% NSR on the Tocantinzinho gold project in the prolific Tapajos district of northern Brazil. The acquisition of Terraco Gold Corp. adds a potential cornerstone asset: an up to 3% NSR on the multi-million ounce Spring Valley gold project in Pershing County, Nevada.
Sailfish is listed on the TSX Venture Exchange under the symbol "FISH" and on the OTCQX under the symbol "SROYF". Please visit the Company's website at www.sailfishroyalty.com for additional information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.