Makara
Intersects 16.8m of 0.37 g/t Au and 10 g/t Ag, including 1.5m of
1.77 g/t Au and 40 g/t Ag at Rude Creek, Yukon
First
phase drill
program on Nevada Project expected to
start within four
weeks
Vancouver,
Canada -- March 30, 2021 --
InvestorsHub NewsWire -- Makara
Mining Corp. (CSE: MAKA; FSE: MK0; OTC: MAKAF) ("Makara"
or the "Company")
is pleased to
provide an exploration
update on
its
Rude Creek
gold project in
Yukon,
Canada
("Rude
Creek") and its other Canadian and U.S.
projects.
Highlights:
-
The complete
assay results from the 2,000-meter RC (reverse circulation) drill
program at Rude Creek have now been received and
tabulated
-
Overall, drill
results have identified the presence of a new gold
system,
with controls on
mineralization which appear to be north-south oriented and steeply
dipping to the east
-
Further
drilling aimed at finding the
postulated higher-grade
and thicker centre of
the system is clearly warranted, along
with an expanded soil geochemistry program over this large
property
-
Best new intercepts
include:
-
16.8 m of
0.37 g/t Au, 9.7 g/t Ag (incl. 4.6 m of 0.84 g/t Au,
24.5 g/t Ag and incl. 1.5 m of
1.77 g/t Au, 40.1 g/t Ag) in ROYRC20-21
-
4.6 m of
0.30 g/t Au, 4.5 g/t Ag (incl. 1.5m of 0.46 g/t Au, 1.2 g/t
Ag) in
ROYRC20-20
-
4.6 m of 0.23 g/t
Au and 7.8 g/t Ag (incl. 1.5 m of
0.58 g/t Au and 11.7 g/t Ag); and 6.1 m of
0.25 g/t Au, 3.4 g/t Ag (incl. 1.5 m of 0.87 g/t Au,
3.3 g/t Ag); and 3.1 m of
0.37 g/t Au, 1.6 g/t Ag (incl. 1.5 m of 0.51 g/t Au,
1.2 g/t Ag) in ROYRC20-15
-
True widths for
all 2020 drilling are currently unknown
-
Above intercepts are in
addition to those released on February 10, 2021, which
included:
-
80.8 m of 0.17
g/t Au and 3.3 g/t Ag (incl. 13.7 m of
0.59 g/t Au and 14.1 g/t Ag, incl. 1.5 m of
3.15 g/t Au and 76.4 g/t Ag) in ROYRC20-18
-
4.6 m of 0.74 g/t
Au (incl. 1.5 m of
2.13 g/t Au) in ROYRC20-14
-
3.1 m of 0.35 g/t
Au (incl. 1.5m of
0.59 g/t Au) in ROYRC20-13
-
Gold mineralization
was
intersected
over
an area of
200 m
by 250
m,
within
a
portion of
the "Northeast" soil anomaly, currently known to
measure
at least
1,000 m by
1,600 m
"This
is the first systematic drill campaign ever completed at
Rude Creek.
Makara
is
encouraged
that
this
preliminary drilling has provided a
robust
'proof of concept' and that a gold system is indeed present
on the property,"
stated Grant Hendrickson, CEO. "We look forward to providing
a
more
detailed analysis of the 2020 work in due course, along with plans
for the 2021 field season."
Bart Jaworski,
co-founder and director of
0890763 B.C. Ltd. (vendor) stated: "After more
than ten years working on what was until recently a purely
grassroots prospect, it is great to see an exciting gold system
starting to emerge from the latest
round of drilling. We thank Makara for their strong
contribution to
the project over the last year and look
forward to the upcoming field season."
Rude Creek
Drill Program, Yukon
(Canada)
The Rude Creek
project is
well located in the Dawson Range of the Yukon, 15 km east of the Casino
Cu-Au porphyry
deposit
(Western Copper)
and immediately west of the Mount
Cockfield porphyry copper gold prospect. Newmont's
Coffee
Creek gold deposit is 50 km to the
WNW. The
2020 drilling program was undertaken to evaluate one of the
better gold-in-soil anomalies (the
"Northeast
Anomaly") at Rude Creek
and to expand
upon the encouraging results from hole ROYRC19-09 (9.2 m of
1.42 g/t Au and 20 g/t Ag) drilled in 2019. The
Northeast
Anomaly occurs within an excellent
structural setting.
Shallow RC
drilling
in 2020 was
conducted from five separate drill pad locations
(see Exhibit
1). Pad 1
is the northern most pad, the other
pads
are in
sequence approximately
50-75 metres south of the
previous pad. Pad 5 is
approximately
250 metres south of Pad 1. Several holes
at various azimuths and inclinations were drilled from each
pad (to test for conjugate
vein orientations; see Exhibit 1 and
4). Seventeen holes (12 to 28)
were drilled on the Target in 2020 and three holes (9 to 11) were drilled
at the Northeast
Anomaly in
2019.
Exhibit 1.
Plan Map of 2020 Drilling at Portion of the
Northeast
Anomaly,
Rude Creek Project, Yukon
Note: For further details on
'Previous Results', please refer to the Company's
news release dated
February 10, 2021.
The RC drilling technique
collects a 1.52-metre down hole rock chip
sample, resulting in a
spatial
resolution of 1.52 metres per assay sample. Note that
all of the 2019/2020 RC drill holes have been completely sampled,
in increments of 1.52 metres. The gold content
of the assay
results was determined by fire
assay.
This news release comments only on the gold content of sample
intervals above 0.1 g/t with a minimum width of 1.52
metre.
The detailed
multi-element assaying of all the
Rude Creek RC rock chips indicates that the gold mineralization
at
the Northeast
Anomaly is
hosted within several polymetallic vein occurrences. Geochemically
anomalous amounts of silver, lead, copper,
arsenic, bismuth and tungsten tend to
accompany
gold mineralization.
Some of the
stronger gold intervals occur with elevated
silver grades (up to 76 g/t
Ag) of
economic interest, thus gold-equivalent
grades
are being
routinely calculated.
More work
on all
the important metal associations is
ongoing.
The Company
will be able
to provide
more complete mapping, modelling
and detailed conclusions on the assay information, geology,
mineralogy, structural controls on mineralization
and
deposit
types in approximately
two to
three months once hyperspectral
imaging,
detailed drill hole
geology,
structural reports and other imaging data
sets
are
integrated
in the
interpretation.
The information to
date, however, suggests the main structural
control of gold mineralization
appears to be
predominantly north-south oriented with a steep dip to the
east. The Company's
latest drill hole
assay results are
shown
in Exhibit
2.
Exhibit 2.
Summary of New
Assay
Results from 2020 Drilling, Rude Creek Gold
Project,
Yukon
|
Hole
ID
|
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
AuEq
(g/t)
|
m
x AuEq
|
|
ROYRC20-12
|
|
14.63
|
16.15
|
1.52
|
0.145
|
0.6
|
0.153
|
0.23
|
|
"
|
and
|
95.40
|
96.93
|
1.52
|
0.193
|
1.6
|
0.214
|
0.33
|
|
ROYRC20-15
|
|
7.62
|
12.19
|
4.57
|
0.225
|
7.8
|
0.329
|
1.50
|
|
"
|
incl.
|
10.67
|
12.19
|
1.52
|
0.582
|
11.7
|
0.738
|
1.12
|
|
"
|
and
|
19.81
|
21.34
|
1.53
|
0.122
|
9.3
|
0.246
|
0.38
|
|
"
|
and
|
54.86
|
60.96
|
6.10
|
0.252
|
3.4
|
0.297
|
1.81
|
|
"
|
incl.
|
56.39
|
57.91
|
1.52
|
0.784
|
3.3
|
0.828
|
1.26
|
|
"
|
and
|
91.44
|
92.96
|
1.52
|
0.111
|
0.3
|
0.115
|
0.17
|
|
"
|
and
|
100.58
|
103.63
|
3.05
|
0.365
|
1.6
|
0.386
|
1.18
|
|
ROYRC20-17
|
|
45.72
|
51.82
|
6.10
|
0.122
|
2.2
|
0.151
|
0.92
|
|
"
|
and
|
54.86
|
56.39
|
1.53
|
0.112
|
0.5
|
0.119
|
0.18
|
|
"
|
and
|
73.15
|
74.68
|
1.53
|
0.171
|
0.4
|
0.176
|
0.27
|
|
"
|
and
|
99.06
|
100.58
|
1.52
|
0.216
|
0.7
|
0.225
|
0.34
|
|
ROYRC20-19
|
|
0.00
|
3.96
|
3.96
|
0.124
|
2.4
|
0.156
|
0.62
|
|
"
|
and
|
38.40
|
39.93
|
1.53
|
0.144
|
0.2
|
0.147
|
0.22
|
|
"
|
and
|
49.07
|
50.60
|
1.53
|
0.152
|
0.6
|
0.160
|
0.24
|
|
ROYRC20-20
|
|
0.61
|
5.18
|
4.57
|
0.303
|
4.5
|
0.363
|
1.66
|
|
"
|
incl.
|
3.66
|
5.18
|
1.52
|
0.460
|
1.2
|
0.476
|
0.72
|
|
ROYRC20-21
|
|
0.00
|
16.76
|
16.76
|
0.366
|
9.7
|
0.495
|
8.29
|
|
"
|
incl.
|
6.10
|
10.67
|
4.57
|
0.843
|
24.5
|
1.170
|
5.35
|
|
"
|
incl.
|
9.14
|
10.67
|
1.53
|
1.774
|
40.1
|
2.309
|
3.53
|
|
"
|
and
|
91.44
|
100.58
|
9.14
|
0.114
|
1.8
|
0.138
|
1.26
|
|
ROYRC20-22
|
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
ROYRC20-23
|
|
28.35
|
29.87
|
1.52
|
0.123
|
0.1
|
0.124
|
0.19
|
|
"
|
and
|
39.01
|
40.54
|
1.52
|
0.141
|
0.0
|
0.141
|
0.21
|
|
"
|
and
|
45.11
|
46.63
|
1.52
|
0.174
|
0.1
|
0.175
|
0.27
|
|
"
|
and
|
115.21
|
116.74
|
1.52
|
0.113
|
0.2
|
0.116
|
0.18
|
|
ROYRC20-26
|
|
71.63
|
73.15
|
1.52
|
0.101
|
1.4
|
0.120
|
0.18
|
|
"
|
and
|
105.16
|
109.73
|
4.57
|
0.154
|
1.3
|
0.172
|
0.78
|
|
"
|
and
|
135.64
|
137.16
|
1.52
|
0.106
|
0.5
|
0.113
|
0.17
|
Notes: Azimuth and inclinations are
provided in Exhibit 4; intervals summarized above are down-hole
intervals; true widths are currently unknown; and "AuEq" or gold-equivalent grades
combine gold grade with silver grade divided by a factor of 75
(based on gold price of US$1800/oz and silver price of
US$24.00/oz).
For reference and
continuity, assay
results from the Company's previous news release (dated
February 10, 2021) are repeated in Exhibit 3.
Exhibit
3.
Summary of Previous
Assay
Results from 2020 Drilling, Rude Creek Gold
Project,
Yukon
|
Hole
ID
|
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
AuEq
(g/t)
|
m
x AuEq
|
|
ROYRC20-13
|
|
36.88
|
39.93
|
3.05
|
0.354
|
0.9
|
0.366
|
1.12
|
|
"
|
incl.
|
36.88
|
38.40
|
1.52
|
0.594
|
0.9
|
0.606
|
0.92
|
|
"
|
and
|
82.60
|
90.22
|
7.62
|
0.100
|
4.7
|
0.163
|
1.24
|
|
"
|
incl.
|
88.70
|
90.22
|
1.52
|
0.149
|
19.1
|
0.404
|
0.61
|
|
ROYRC20-14
|
|
54.86
|
56.38
|
1.52
|
0.435
|
52.2
|
1.131
|
1.72
|
|
"
|
and
|
73.15
|
74.67
|
1.52
|
0.169
|
1.0
|
0.182
|
0.28
|
|
"
|
and
|
106.68
|
111.25
|
4.57
|
0.741
|
0.6
|
0.749
|
3.42
|
|
"
|
incl.
|
109.73
|
111.25
|
1.52
|
2.132
|
1.0
|
2.145
|
3.26
|
|
ROYRC20-16
|
|
16.76
|
19.81
|
3.05
|
0.195
|
7.8
|
0.299
|
0.91
|
|
"
|
and
|
39.62
|
60.96
|
21.34
|
0.127
|
0.9
|
0.139
|
2.97
|
|
"
|
incl.
|
57.91
|
60.96
|
3.05
|
0.571
|
3.4
|
0.616
|
1.88
|
|
"
|
incl.
|
57.91
|
59.43
|
1.52
|
0.996
|
6.0
|
1.076
|
1.64
|
|
ROYRC20-18
|
|
0.00
|
80.77
|
80.77
|
0.167
|
3.3
|
0.211
|
17.04
|
|
"
|
incl.
|
0.00
|
13.72
|
13.72
|
0.586
|
14.1
|
0.774
|
10.62
|
|
"
|
incl.
|
6.71
|
13.72
|
7.01
|
1.005
|
24.2
|
1.328
|
9.31
|
|
"
|
incl.
|
10.67
|
12.19
|
1.52
|
3.151
|
76.4
|
4.170
|
6.34
|
|
"
|
and
|
27.43
|
30.48
|
3.05
|
0.124
|
0.5
|
0.131
|
0.40
|
|
"
|
and
|
48.77
|
80.77
|
32.00
|
0.131
|
1.7
|
0.154
|
4.92
|
|
"
|
incl.
|
77.72
|
80.77
|
3.05
|
0.611
|
7.0
|
0.704
|
2.15
|
|
"
|
incl.
|
77.72
|
79.24
|
1.52
|
1.086
|
7.8
|
1.190
|
1.81
|
|
ROYRC20-24
|
|
21.34
|
22.86
|
1.52
|
0.121
|
-
|
0.121
|
0.18
|
|
"
|
and
|
59.44
|
60.96
|
1.52
|
0.161
|
1.7
|
0.184
|
0.28
|
|
"
|
and
|
67.06
|
68.58
|
1.52
|
0.173
|
2.4
|
0.205
|
0.31
|
|
"
|
and
|
82.30
|
83.82
|
1.52
|
0.106
|
0.3
|
0.110
|
0.17
|
|
ROYRC20-25
|
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
ROYRC20-27
|
|
70.10
|
91.44
|
21.34
|
0.100
|
1.5
|
0.120
|
2.56
|
|
"
|
incl.
|
70.10
|
80.77
|
10.67
|
0.133
|
2.6
|
0.168
|
1.79
|
|
"
|
incl.
|
70.10
|
71.62
|
1.52
|
0.132
|
12.4
|
0.297
|
0.45
|
|
"
|
and
|
73.15
|
76.20
|
3.05
|
0.189
|
2.2
|
0.218
|
0.67
|
|
ROYRC20-28
|
|
21.34
|
22.86
|
1.52
|
0.111
|
2.4
|
0.143
|
0.22
|
|
"
|
and
|
85.34
|
99.06
|
13.72
|
0.164
|
0.9
|
0.177
|
2.42
|
|
"
|
incl.
|
94.49
|
97.54
|
3.05
|
0.353
|
2.3
|
0.384
|
1.17
|
Notes: Azimuth and
inclinations are provided in
Exhibit
4; intervals summarized
above are
down-hole intervals; true widths are currently
unknown; and "AuEq" or gold-equivalent grades
combine gold grade with silver grade divided by a factor of
75
(based on gold
price of US$1800/oz and silver price of
US$24.00/oz).
Exhibit
4.
Drill Hole Location
Information
from 2020 Drilling at Rude Creek, Yukon
|
Hole
ID
|
PAD
No
|
Order
Drilled
|
Easting
|
Northing
|
Elev.
(m)
|
Az
|
Dip
|
Length
(m)
|
Length
(ft)
|
|
ROYRC20-12
|
Pad 1
|
2
|
625613
|
6953243
|
1535
|
81
|
-45
|
101.50
|
333
|
|
ROYRC20-13
|
Pad
1
|
1
|
625613
|
6953243
|
1535
|
81
|
-70
|
99.36
|
326
|
|
ROYRC20-14
|
Pad
2
|
5
|
625622
|
6953190
|
1533
|
65
|
-45
|
124.97
|
410
|
|
ROYRC20-15
|
Pad
2
|
6
|
625622
|
6953190
|
1533
|
245
|
-60
|
112.78
|
370
|
|
ROYRC20-16
|
Pad
2
|
4
|
625622
|
6953190
|
1533
|
335
|
-50
|
100.58
|
330
|
|
ROYRC20-17
|
Pad
2
|
3
|
625622
|
6953190
|
1533
|
155
|
-50
|
100.58
|
330
|
|
ROYRC20-18
|
Pad
3
|
8
|
625638
|
6953123
|
1523
|
65
|
-50
|
149.35
|
490
|
|
ROYRC20-19
|
Pad
3
|
9
|
625638
|
6953123
|
1523
|
245
|
-65
|
154.23
|
506
|
|
ROYRC20-20
|
Pad
3
|
7
|
625638
|
6953123
|
1523
|
335
|
-50
|
100.58
|
330
|
|
ROYRC20-21
|
Pad
3
|
10
|
625638
|
6953123
|
1523
|
155
|
-50
|
100.58
|
330
|
|
ROYRC20-22
|
Pad
4
|
11
|
625635
|
6953080
|
1518
|
65
|
-50
|
150.88
|
495
|
|
ROYRC20-23
|
Pad
4
|
12
|
625635
|
6953080
|
1518
|
245
|
-50
|
124.36
|
408
|
|
ROYRC20-24
|
Pad
4
|
14
|
625635
|
6953080
|
1518
|
335
|
-50
|
100.58
|
330
|
|
ROYRC20-25
|
Pad
4
|
13
|
625635
|
6953080
|
1518
|
155
|
-50
|
100.58
|
330
|
|
ROYRC20-26
|
Pad
5
|
15
|
625696
|
6953021
|
1495
|
65
|
-50
|
150.88
|
495
|
|
ROYRC20-27
|
Pad
5
|
16
|
625696
|
6953021
|
1495
|
245
|
-50
|
124.97
|
410
|
|
ROYRC20-28
|
Pad
5
|
17
|
625696
|
6953021
|
1495
|
335
|
-50
|
100.58
|
330
|
|
Total
|
|
|
|
|
|
|
|
1997.34
|
6,553
|
Field
Program Plans for 2021 at Rude Creek
Makara's contiguous Idaho
project and Win project, to the north and south of the
Rude Creek project, respectively,
will also receive
significant exploration programs during the
summer
of 2021,
in conjunction
with the
Company's extensive plans for Rude
Creek. Fieldwork plans are expected
to be released in two to three
months. In
addition, the Company
plans to further
evaluate its recently staked Placer rights
to the upper levels of Rude Creek this summer. The shallow Rude
Creek gold and silver mineralization, described in detail above,
strikes across the upper levels of Rude Creek.
Nevada Gold
Project, Davis Mine and Paradise Valley
Makara is pleased to announce
that the first phase drilling program (5000 ft, 1500 m) on the
Nevada Gold project, eight miles SE
of Gabbs, is planned to be underway
by April 15, 2021, weather permitting. The property is located
within the central part of the
Walker Lane
geological trend, a structural zone of NW trending strike slip
faults along the western margin of the Great Basin. The drill rig
is now stored nearby while the process of securing all
the required drill and environmental permits from the state of
Nevada nears completion. Makara's Nevada
project is a joint venture with Almadex Minerals
Ltd., which has significant
experience with Nevada gold and silver exploration. The
initial drilling will concentrate on the Davis Mine area where
reported historic drilling (cannot be verified) by a previous
operator (36 years ago) returned significant low
sulphidation
epithermal
intercepts. One of these intercepts
was
reported to have
returned 40 ft (12.2 m) of 0.118 oz/t gold
(6.2 g/t
gold) and 0.62 oz/t silver
(21 g/t
silver), although it cannot be
verified.
The strike and dip of the Davis vein system along with the true
widths will be verified and expanded on through this first phase drill
program. In addition, other higher sulphidation
shallow
epithermal
targets (to the south of Davis) on the contiguous Paradise
Valley claims will be drilled in this initial drill program. These
targets were determined by induced polarization and resistivity
surveys in conjunction with the high-resolution spectra imaging
results received from the recent World View Two satellite system
survey over Paradise valley and the Davis mine area.
The first phase
drilling program is expected
to
provide the
information required for an expanded drill program later in the
year.
Kenora
Gold
Project
Makara has started to receive
reports on the field surface program conducted last
fall at its Kenora Gold Project,
located in Ontario. The airborne
electromagnetic and magnetic survey was received this past week and
the Company looks forward to
receiving the updated 43-101 report shortly. The updated
report will
include sections on relogging and assaying of old drill core, new
mapping and prospecting results from the eastern claims and the
southern portion of the claims, extensive rock Geochem analysis of
the different lithologies, recent ground magnetics and VLF-EM surveys. Once this
information is received and evaluated, the Company will reconsider the
decision made last fall to delay the drilling
program.
Qualified
Person
Grant
Hendrickson, P.Geo., the Company's Chief Executive Officer, is the
'Qualified Person' under National Instrument 43-101 and has
approved the scientific and technical information contained in this
news release.
QA
/
QC
/
sampling
techniques (Rude Creek Gold Project)
Sample preparation and
analytical procedures included an inductively coupled plasma mass
spectrometry (ICP-MS) analysis and fire-assay atomic-absorption
(AAS) testing. Analytical results of the results herein were
submitted directly by Bureau Veritas to the JV. Control samples
were routinely submitted.
About the
Company
Makara Mining Corp. (CSE:
MAKA; FSE: MK0; OTC: MAKAF) is a mineral exploration company
focused on the acquisition, exploration and development of gold
properties. The Company is based in Vancouver, B.C. and holds
options over the Rude Creek Property and Idaho Creek Property
located in the Yukon, the Kenora Gold Property located in
Northwestern Ontario and the Davis and Paradise Valley
claims located in Nevada. Additional information about the Company
is available at
www.makaramining.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
Grant Hendrickson
Director and Chief Executive
Officer
Telephone:
604-372-3707
Email: grant@makaramining.com
Forward-Looking
Statements
This news release
contains certain forward-looking statements within the meaning of
applicable securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, and
statements respecting the expected timing
for the remaining
assay results from the Company's RC drilling
program,
exploration work at the Idaho and Win Claims, first phase drilling
program at the Nevada project and 43-101 report update on the
Kenora project are "forward-looking
statements". Forward-looking statements are subject to a number of
risks and uncertainties, including those detailed from time to time
in filings made by the Company with securities regulatory
authorities, which may cause actual outcomes to differ materially
from those
discussed in the forward-looking statements. These factors should
be considered carefully and readers are cautioned not to place
undue reliance on such forward-looking statements. The
forward-looking statements and information contained in this news
release are made as of the date hereof and the Company undertakes
no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
The
Canadian Securities Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release.
Makara Mining (CSE:MAKA)
Historical Stock Chart
From Nov 2024 to Dec 2024
Makara Mining (CSE:MAKA)
Historical Stock Chart
From Dec 2023 to Dec 2024
