The 2020 drill programme at Las Conchitas aims to identify near surface, shallow dipping, high-grade gold mineralisation and delineate a maiden resource estimate. Since 2019, it has completed 96 shallow holes for 6,786m at Bayacun with a total of 17,843m within 295 holes drilled at Las Conchitas since the start of the 2019-20 drilling campaign. Las Conchitas is about 2.5km from San Albino.
Highlights included 4.5m grading 22.26 grams per tonne gold and 44.6g/t silver in a previously untested fault block. Drilling confirmed the extension of the Bayacun zone to 220m strike by 160m down dip.
"Today's release highlights the widest zones encountered at Las Conchitas to date. In addition, the grades are consistent with previous near surface, high-grade results. Historically, the Las Conchitas area was considered second in importance to San Albino but was consistently neglected by previous operators," said CEO Akiba Leisman.
"Our view is that delineating a maiden resource at Las Conchitas is essential, especially now that the company has the greenlight to process up to 1,000 tonnes per day."
Shares in Maki Mining are trading at C47c, valuing the company at $301 million.