Drill Results
Mako Mining Intersects 26.98 g/t Au over 6.8 m Estimated True Width at Las Conchitas, Extending an Area Fully Permitted for Mining to Over 450 m of Strike
Mako Mining Drills High Grade at San Albino as Cash Rich Producer Eyes Expansion
Executive Summary
- On May 4, 2026, Mako Mining reported high-grade gold and silver drill results from the Las Conchitas area of its San Albino Project in Nicaragua.
- Key intercepts include 26.98 g/t Au over 6.8 m estimated true width (ETW) and multiple other intervals exceeding 17 g/t Au.
- The drilling confirms mineralization extends beyond current pit limits defined by the 2023 Mineral Resource Estimate, supporting potential expansion of existing mining operations.
- Results demonstrate structural continuity with high-grade mineralization extending over 450 meters along strike and remaining open at depth.
- The targeted area (Candelaria zone) is fully permitted for mining, with development planned to begin southwest of the Candelaria fault once the rainy season ends in Q4 2026.
Material Impact
- Positive but Incremental: This news confirms high-grade continuity at an existing producing asset rather than opening a new frontier. It validates the company's exploration strategy and supports potential life extension or pit expansion without significant permitting risk (area is already permitted).
- Contextualized by Recent Performance: Following record Q1 2026 production (13,721 oz Au) and a debt-free balance sheet ($96.1M cash), this drill result reinforces the operational strength of the San Albino mine but does not fundamentally alter the investment thesis established in previous quarters.
- Market Expectation: Given the company's history of regular exploration updates at San Albino (e.g., Jan 2026 El Golfo results, May 2025 Las Conchitas results), this is viewed as expected progress rather than a surprise discovery.
- Financial Impact: While positive for long-term resource life, there is no immediate impact on current quarter production guidance or cash flow, which remains driven by the existing LMB pit and Moss Mine ramp-up.
MKO · Price
Company Overview
- Company: Mako Mining Corp. is a gold producer with operations in Nicaragua (San Albino/Las Conchitas), USA (Moss Mine, Mt. Hamilton), and development projects in Guyana (Eagle Mountain).
- Flagship Project: San Albino Mine (Nicaragua) is the primary cash generator, producing high-grade open-pit gold/silver with underground potential.
- Development Assets: Moss Mine (Arizona) is ramping to steady-state; Mt. Hamilton (Nevada) is a permitted acquisition awaiting construction; Eagle Mountain (Guyana) is in permitting stage.
- Strategy: Fully funded growth using operating cash flow, minimizing debt and equity dilution while expanding the asset base through M&A and exploration.
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Jul 07, 2026 · 08:45