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Nicaragua

San Albino Mine

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Overview

Mine TypeOpen Pit
StatusActive
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
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SnapshotThe high-grade San Albino gold mine ranks as one of the highest-grade open pit gold mines globally.

Mining for the San Albino project includes the San Albino deposit and Las Conchitas deposit.

The San Albino mine is currently being mined. The Las Conchitas deposit is located 0.5 km south of the San Albino quarry.

On June 19, 2023, the Company announced that it received approval to begin processing material from Las Conchitas, this material is being processed at the Company’s San Albino plant.

Owners

SourceSource
CompanyInterestOwnership
Mako Mining Corp. 100 % Indirect
The Mako Mining Corp., indirectly through their subsidiary, Nicoz Resources, S.A., holds a 100% interest in the San Albino mine.

Deposit type

  • Orogenic
  • Vein / narrow vein

Summary:

Lode gold deposits at the San Albino project are largely hosted in shallow- to moderate-dipping, northeaststriking 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.

The mineralization in the San Albino project area is best interpreted in the context of an “orogenic gold” deposit model (e.g., Goldfarb and Groves, 2015) based on the association of gold mineralization with metamorphic host rocks, and the textures and mineralogy of the San Albino and Las Conchitas veins, the wallrock alteration, and the “gold-only” character of mineralization. Orogenic gold deposits are fundamentally linked with orogenesis, or collisional plate tectonic settings. Unlike many other base- and precious-metal deposit types that formed in the shallow crust, orogenic gold deposits have formed over great intervals of depth. As such, orogenic gold deposits vary widely in characteristics that reflect variable formation depth and therefore, variable degree of metamorphism.

San Albino Deposit
Mining at the historical San Albino mine occurred on three separate vein systems: Arras, Naranjo, and San Albino. Subsequent exploration drilling and mine development by Mako confirmed that the three gold-bearing vein systems exhibit down dip continuity and comprise a stacked set of subparallel veins, with a regular spacing of about 90m between the veins. The shear-hosted quartz veins dip on average about 40° northwest, but dips range from nearly flat to about 60°. Veins pinch-and-swell (i.e., boudinage) in both their dip and strike directions but, commonly, thicker shear-hosted vein intervals and higher-grade gold in workings of the historical San Albino mine appear to be in “flats” flanking antiformal fold hinges or “crests” in the foliation.

Much thinner veins, commonly with steeper orientations that cut foliation, occur in the footwall and hanging wall of the principal shear-hosted veins. These gold-bearing veins are consistent with extensional veins. Extensional veins or veinlets commonly occur proximal to the shear-hosted veins, and they may also form late brittle quartz-filled fractures within the shear veins themselves. At San Albino, such extensional veins are developed mainly within a 1.0m rind adjacent to the primary shear-hosted veins; the extensional veins cut foliation and thereby exhibit greater degrees of folding.

The principal components of the San Albino deposit are the San Albino, Naranjo, and Arras quartz veins, as well as the smaller El Jobo vein. Quartz veins at the San Albino deposit have distinctive characteristics according to Gray (2019), who distinguished six vein types based on their mineralogy, texture, and geographic location. Observations made during the March 2023 review led to a re-assessment of conclusions reached in 2019 about vein styles and mineralization events. New observations confirm that contrasting textural, mineralogic, and geochemical characteristics are evidence of multiple vein forming events, of which two types at the San Albino deposit are gold mineralized and of significance to the mineral resource (Gray, 2023):

1. Quartz Sulfide (“QS”) veins: multi-stage crack-seal veins, gold and silver mineralized, late syndeformation, weakly deformed, concordant, banded, styolitic. San Albino is archetype and Arras and Naranjo belong to this vein type. These are early stage compact quartz veins described as mottled greywhite, with color variation sometimes defining weak banding; styolitic banding or ribbon vein texture is almost always present, most commonly at margins; visible gold is common as submillimeter scale blebs in quartz not associated with microfractures or sulfides. If not overprinted by the later Sulfide Veins and Stringers (“SVS”) event, the QS veins have relatively low sulfide content, Au:Ag ratio of approximately 1:1, with minor As. In general, the QS veins are milky white but vary based on the degree of deformation observed, sulfide and carbonate contents, degree of banding, and gold contents. In addition to diagnostic milky quartz, the QS veins commonly contain ankerite and/or siderite, possibly albite, and variable amounts of sulfide minerals up to 3% by volume. The sulfide grains are generally paragenetically late and consist of pyrite, arsenopyrite, galena, and sphalerite, which form weblike veinlets and clots as well as more regular bands within milky quartz.

2. Sulfide Veins and Stringer (“SVS”) comprises later Au-Ag-Pb-(Zn) mineralization. SVS occurs as sulfide bands, stringers, and impregnations in fractured, earlier-stage QS quartz veins; as sulfide impregnations in breccia and gouge zones in hanging wall (most often) and footwall (not common) in tectonized vein zones sometimes without appreciable quartz veining; and as sulfide bands or veins; relatively Ag rich, Au:Ag <1. Visible gold may be present as discrete blebs contained in quartz or less commonly in sulfides.

The supermajority of defined mineral resources at San Albino project are related to QS veins and SVS mineralization. A small but unquantified contribution of gold to the mineral inventory likely comes from local, discontinuous, discordant veinlets in the immediate margins of the QA and SVS vein zones.

Las Conchitas Deposit
Mineralization at the Las Conchitas deposit is related to veins of the same mineralogic and structural style as those described at the San Albino deposit. In drillcore exposures mineralized zones from the two deposits are indistinguishable from each other. Both comprise early compact quartz veins and later Au-Ag-Pb-(Zn) mineralization. However, drillcore exposures indicate that many of the mineralized zones at Las Conchitas have undergone the same imbricate faulting observed at San Albino but with a greater thickness and degree of tectonic brecciation and cataclasis.

Grillo (2023) observed that the main gold-bearing structures have well developed hanging wall and footwall zones defined by breccias that correspond to boundaries of the low angle fault zones that controlled vein emplacement, and that felsic and andesitic dikes intrude the schists with two preferred orientations, northwest to southeast and east-northeast to west-southwest. The dikes are unmineralized and unfoliated thus appear to be relatively late features unrelated to mineralization.

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Comminution

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Processing

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Production

For the period from commercial production, July 1, 2021 to December 31, 2021.
CommodityProductUnits202320222021
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Silver Metal in doré oz  ....  Subscribe  ....  Subscribe
Gold Equivalent Metal in doré oz  ....  Subscribe
Gold Equivalent Payable metal oz

Operational metrics

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Production Costs

CommodityUnits202320222021
Cash costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe
Total cash costs (sold) Gold USD  ....  Subscribe  ....  Subscribe
All-in sustaining costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe
** Net of By-Product.

Financials

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Personnel

Mine Management

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Aerial view:

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