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Mako Mining Corp. is pleased to report that the Ministry of Environmental and Natural Resources (“MARENA“) has granted an exploration permit to the Company for the Potrerillos concession acquired in December 2019.
Starting from November 15, 2021, the permit is valid for 10 years and is renewable for up to an additional 20 years. The Company is now permitted to drill up to 800,000 meters (“m“) as follows: 250,000 m of diamond drilling; 250,000 m of reverse circulation drilling; and 300,000 m of blast hole drilling. The Company is also permitted to carry out up to 12,000 m of trenching.
Additionally, as of November 12, 2021, all legal documents and procedures, including the public consultation for the La Segoviana concession, located northeast of Potrerillos, are complete. The Company awaits MARENA’s approval of this additional exploration permit, which is expected over the course of the next 45 days.
Akiba Leisman, Chief Executive Officer of Mako states that, “I would personally like to thank MARENA on behalf of our team for granting this permit. This is yet another example of why Nicaragua is a mining friendly jurisdiction. Reconnaissance exploration work to date indicates that Potrerillos is the direct strike extension of the San Albino gold deposit, and the receipt of these permits allows us to begin drill testing the approximately 3.5 kilometers of strike potential. The district potential of San Albino is becoming clearer, and these permits will allow us to begin the process of discovery on parts of our concessions that have never been drilled before.”
See the map below titled “Concessions Map” for more details on the location of the Potrerillos concession relative to the San Albino gold deposit and the three other concessions that comprise Mako’s approximately 188 square kilometers land package in northern Nicaragua.
On behalf of the Board,
Akiba Leisman
Chief Executive Officer
About Mako
Mako Mining Corp. is a publicly listed gold mining, development and exploration company. The Company operates the high-grade San Albino gold mine in Nueva Segovia, Nicaragua, which ranks as one of the highest-grade open pit gold mines globally. Mako’s primary objective is to operate San Albino profitably and fund exploration of prospective targets on its district-scale land package.
