Mako Mining Announces Q1 2024 Production Results - Seite 2

Table 1 - Production Results

Foto: Accesswire

* Includes historical dump, hanging wall, footwall, historical muck and all other non-vein mineralized material above cutoff grade.
**For the purpose of calculating revenue, payments to Sailfish are deducted from the Average Realized Price.
(1) Equiv. Gold ounces are calculated by: Silver Rec. or Silver Sold (oz) / Avg. Realized Price of Gold (US$/oz) / Avg. Realized Price of Silver (US$/oz)

Table 2 - Quarter End Stockpile Statistics

Foto: Accesswire

** Includes historical dump, hanging wall, footwall, historical muck and all other non-vein mineralized material above cutoff grade.

Mining

The mine averaged 747 tpd of diluted vein and historical dump + other material in Q1 2024, which was by far the highest mining rate of mineralized material in the Company's history. This record came in a large part from a significant positive reconciliation of mineralized tonnes to the resource model. The strip ratio was 22.7:1 which included pre-stripping of the Southwest Pit within San Albino, and the commencement of the bulk sample of El Limon within Las Conchitas - South. The current stockpile is 150,743 tonnes containing 12,474 oz Au at 2.57 g/t Au. The average grade of the diluted vein was 11.85 g/t Au containing 9,664 oz Au.

The total production of diluted vein material in Q1 2024 came from 3 different zones; 39% of the total ounces were mined from the West Pit (San Albino), 19% from the Southwest Pit (San Albino), and 41% from Phase 1 in the Bayacun Pit (Las Conchitas). In Q2 2024, an important part of the production will also come from Phase 1 of the El Limon Pit (Las Conchitas).

Milling

All components of the 500 tpd gravity and carbon-in-leach processing plant have been fully operational since the beginning of May 2021. During Q1 2024, the plant throughput rate was 606 tpd with a plant availability of 96%. The plant processed 36% diluted vein material and 64% historical dump + other material to achieve a blended feed grade of 7.27 g/t Au. The gold recovery was lower at 80.6 % in Q1 compared to 84.6% in Q4 due to lower gold grades, and higher preg-robbing potential of the mill feed. This was due to differences in the upper portion of the Las Conchitas vein morphology as compared to San Albino, which led to higher amounts of peripheral, low-grade, preg-robbing material being included in the diluted vein. In addition, very little oxide material was processed, as the production predominantly came from relatively deeper material. In the latter half of Q2, a substantial portion of the mill feed will come from oxide material at El Limon, which should incrementally improve recoveries. The plant availability was 96% with 10,070 ounces of gold equivalent recovered.

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