TSX-V: MKO; OTCQX:
MAKOF
Drilling Permits Received at La Segoviana
VANCOUVER, BC, Dec. 30, 2021 /CNW/ - The Company is pleased to
report that the Ministry of Environmental and Natural Resources
("MARENA") has granted an exploration permit to the Company for the
La Segoviana concession, which was granted to Mako in
2020. 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 1,100,000 meters ("m") as follows: 500,000 m of diamond drilling; 300,000 m of reverse circulation drilling; and
300,000 m of blast hole drilling. The
Company is also permitted to carry out up to 32,500 m of trenching.
Key surface rights acquisitions at La Segoviana have already
been made and the Company will be preparing a budget for the first
exploration program at this concession early in the beginning of
2022.
Corporate Update
The Company also announces that Cesar
Gonzalez, Vice President of Corporate Development, has left
the Company to focus on his other endeavors.
Akiba Leisman, Chief Executive
Officer of Mako states that, "we are extremely happy that MARENA
has granted us an exploration permit at La Segoviana, which in
addition to the recently granted permit at Potrerillos, contains
some of our most prospective areas for exploration. Regarding the
Corporate Update, we are sad to see Cesar go from Mako and we wish
him well on his other activities."
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.
Forward-Looking Information:
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
in respect of the drilling and trenching permits at La Segoviana;
the timing for preparing a budget for the first exploration program
at this concession early in the beginning of 2022; and
that the Company can operate San Albino profitably in order
to fund exploration of prospective targets on its district-scale
land package. 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, the
risk that any permits are revoked; that the exploration budget for
La Segoviana is not prepared within the expected timeline; the
Company's failure to operate San Albino profitably and/or fund its
exploration of prospectus targets on its district-scale land
package; political risks and uncertainties involving the Company's
exploration properties; the inherent uncertainty of cost estimates
and the potential for unexpected costs and expense; commodity price
fluctuations 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 expectations regarding the San Albino gold project, 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.
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SOURCE Mako Mining Corp.