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Nicaragua
San Albino Mine

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 Location:
175 km N from Managua, Nicaragua

  Regional Office:
838 West Hastings St. Suite 700
Vancouver
British Columbia, Canada
V6C 0A6
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
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  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life16 years (as of Jan 1, 2015)
Mako declared commercial production effective July 1, 2021.

San Albino, Nicaragua’s newest high-grade gold mine, is a high-margin open pit operation. Based on a measured and indicated pit resource grade of 9.54 g/t Au, the project is one of the highest-grade surface mines in the world.


Owners

Source: p. 8, 33
CompanyInterestOwnership
Mako Mining Corp. 100 % Indirect
Mako, indirectly through their subsidiary, Nicoz Resources, S.A., holds a 100% interest in the San Albino mine.

Contractors

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Deposit Type

  • Orogenic
  • Vein / narrow vein


Summary:

The mineralization in the San Albino project area is best interpreted in the context of an “orogenic gold” deposit model based on the association of gold mineralization with metamorphic host rocks, and the textures and mineralogy of the San Albino veins, the wallrock alteration, and the “gold-only” character of mineralization.

The principal commodity exploited in the historical San Albino and nearby mines was gold, which was extracted from both placer workings and quartz-bearing lodes sporadically since the Spanish Colonial period (Roberts and Irving, 1957). Silver accompanies gold at the San Albino Deposit, but its economic significance is relatively low.

Lode gold deposits at the San Albino project are largely hosted in shallow- to moderate-dipping, northeast-striking quartz veins and thin vein margins concordant with the metamorphic fabric developed in carbonaceous schist (English, 2009). The gold-bearing quartz veins dip to the west and appear to be localized in zones that show greater degrees of strain than surrounding argillite, suggesting these dominant veins are shear-parallel veins (or, “shear veins”), although the similarity in footwall and hanging wall rocks suggests modest displacement.

Mining at the historical San Albino mine occurred on three separate vein systems: Arras, Naranjo, and San Albino. Subsequent exploration drilling by Mako confirmed that the three gold-bearing vein systems exhibit down-dip continuity and comprise ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

San Albino, Nicaragua’s newest high-grade gold mine, is a high-margin open pit operation. Commercial production declared effective July 1, 2021.

Open Pit Mining (PEA 2015)
Pits slopes have been designed using P&E’s experience with similar rock materials, using a 40° inter-ramp angle.

Four open pits are envisaged for the Project. These include the West Pit; the NE Pit; the SW Pit and the Central Pit.

The proposed open pits would utilize conventional open pit mining equipment and drill/blast/load/haul technologies. Open pit mining would proceed as successive pre-strip and hard rock mining operations, and follow the trend of the mineralized deposit. Waste rock storage facilities will be constructed near the open pit exits.

Potential underground mining (PEA 2015)
An underground mining operation would access and extract mill feed located at depth and below the open pits. Access to the underground mine will be through an underground decline from surface.

The average true thickness of the underground mineralized zones is 2.6 m and the dip angle varies at approximately 26 degrees. The dip angle is below the angle of repose of broken rock and also is too steep for trackless equipment to move up or down dip within the mineralized zones. For this reason, the primary mining method is envisaged to be steep panel mining. Using hand held drills and slushers, the potential mill feed is blasted and scraped to the bottom of the ........


Crushing and Grinding
Source: Subscription required


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Production:
For the period from commercial production, July 1, 2021 to December 31, 2021.

CommodityProductUnits2021Avg. Annual (Projected)LOM (Projected)
Gold Metal in doré oz  ......  Subscription required661,200
Silver Metal in doré oz  ......  Subscription required
Gold Equivalent Payable metal oz  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics20212019
Ore tonnes mined  ......  Subscription required
Tonnes milled  ......  Subscription required
Daily processing capacity  ......  Subscription required500 t
Annual processing capacity  ......  Subscription required
Subscription required - Subscription is required.

Reserves at October 8, 2020:
For evaluating the open-pit potential, MDA ran a series of optimized pits using variable gold prices and parameters. The accepted mining cost was $2/t, processing cost $60/t, G&A cost $5/t and metallurgical recoveries were 95% and 70% for gold and silver, respectively.

For evaluating the potential for underground mining, MDA ran a series of stope optimizations at variable cutoffs and for the reporting cutoff grade the author assumes an average mining cost of $70/t, processing cost of $60/t and G&A of $10/t. The factors used in defining cutoff grades are based on US$1,750/oz Au.

CategoryTonnage CommodityGradeContained Metal
Measured 115,200 t Gold 11.74 g/t 43,500 oz
Measured 115,200 t Silver 17.6 g/t 65,100 oz
Indicated 426,300 t Gold 9.86 g/t 135,100 oz
Indicated 426,300 t Silver 17.4 g/t 238,600 oz
Measured & Indicated 541,500 t Gold 10.21 g/t 177,800 oz
Measured & Indicated 541,500 t Silver 17.4 g/t 303,700 oz
Inferred 421,600 t Gold 7.44 g/t 100,900 oz
Inferred 421,600 t Silver 12.6 g/t 170,600 oz

Commodity Production Costs:

CommodityUnits2021
Cash costs (sold) Gold USD  ......  Subscription required†
Total cash costs (sold) Gold USD  ......  Subscription required†
All-in sustaining costs (sold) Gold USD  ......  Subscription required†
† Net of By-Product.
Subscription required - Subscription is required.

Financials:

Units2021
Revenue M USD  ......  Subscription required
Gross profit M USD  ......  Subscription required
Pre-tax Income M USD  ......  Subscription required
After-tax Income M USD  ......  Subscription required
EBITDA M USD  ......  Subscription required
Operating Cash Flow M USD  ......  Subscription required
Subscription required - Subscription is required



Heavy Mobile Equipment as of December 26, 2022:
HME TypeModelQuantity
Excavator ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 26, 2022
....................... Subscription required ....................... Subscription required ....................... Subscription required Dec 26, 2022
....................... Subscription required ....................... Subscription required Subscription required Dec 26, 2022
....................... Subscription required ....................... Subscription required Subscription required Dec 26, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2019
Preliminary Economic Assessment 2015
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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