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Mako Mining Provides Q1 2023 Production Results and Corporate Update
VANCOUVER, BC / ACCESSWIRE / May 12, 2023 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) (" Mako " ...
About this update from Mako Mining Corp.
[{"type":"text","content":"Mako Mining Provides Q1 2023 Production Results and Corporate UpdateVANCOUVER, BC / ACCESSWIRE / May 12, 2023 / Mako Mining Corp. (TSXV:MKO)(OTCQX:MAKOF) (\"Mako\" or the \"Company\") is pleased to provide first quarter 2023 (\"Q1 2023\") production results from its San Albino gold mine (\"San Albino\") in northern Nicaragua, which is the seventh full quarter of production results since declaring commercial production on July 1, 2021. Financial results for Q1 2023, including detailed reporting of our operating costs, are expected to be released by the end of this month.Q1 2023 Production Highlights47,238 tonnes mined containing 8,072 ounces of gold (\"oz Au\") at a blended grade of 5.32 grams per tonne gold (\"g/t Au\") and 11,001 ounces of silver (\"oz Ag\") at a grade of 7.24 grams per tonne silver (\"g/t Ag\")18,029 tonnes mined containing 5,611 oz Au at 9.68 g/t Au and 6,219 oz Ag at 10.73 g/t Ag from diluted vein material29,210 tonnes mined containing 2,461 oz Au at 2.62 g/t Au and 4,782 oz Ag at 5.09 g/t Ag from historical dump and other mineralized material above cutoff grade (\"historical dump + other\")36.3:1 strip ratio overall which includes accelerated waste development of the Phase 3 in West Pit.49,675 tonnes milled containing 10,119 oz Au at a blended grade of 6.34 g/t Au and 7,869 oz Ag at 4.93 g/t Ag38% and 62% from diluted vein and historical dump and other, respectively587 tonnes per day (\"tpd\") milled at 94% availabilityRecoveries of 82.5% for gold in Q1 2023144,315 tonnes in stockpile containing 8,563 oz Au at a blended grade of 1.85 g/t Au8,374 oz Au Equiv. recovered and 8,820 oz Au. Equiv. sold during the quarterAkiba Leisman, Chief Executive Officer of Mako states that, \"in Q1 2023 the plant began consistently operating at 600 tonnes per day (\"tpd\"). The Company achieved this milestone of operating at 20% above nameplate capacity with no additional capital requirements. Q1 production was moderately lower than Q4 2022 as the Company transitioned from Phase 2 to Phase 3 Mining of the West Pit at San Albino. Mining the high-grade Phase 3 West Pit commenced at the end of April, and production will be further supplemented as Mako begins mining Las Conchitas later this month. A maiden resource at Las Conchitas is nearing completion and is now scheduled to be publicly released in early Q3.\"Table 1 - Product...