Mako Mining reports 598 Koz gold reserves at Arizona's Moss Mine

Mako Mining Corp. (NASDAQ: MAKO) has released a mineral reserve estimate and updated project economics for its Moss Mine in Arizona, reporting total Proven and Probable Mineral Reserves of 597,744 ounces of gold and 6.30 million ounces of silver within 56.8 million tonnes grading 0.327 grams per tonne gold and 3.45 grams per tonne silver.

The estimate, prepared under National Instrument 43-101 with an effective date of June 30, 2026, uses base-case metal prices of $3,500 per ounce gold and $50 per ounce silver. The after-tax net present value discounted at 5% is $254 million at those prices.

The mine plan projects a 15-year life with 442,904 recovered ounces of gold and 2.1 million recovered ounces of silver, assuming metallurgical recoveries of 75% for gold and 33% for silver. Average annual gold production is projected at 30,900 ounces from 2026 through 2039, with peak production of 46,100 ounces estimated in 2031.

No initial capital is required. Life-of-mine sustaining capital expenditures are estimated at $86 million, expected to be funded from operating cash flow. Processing capacity is planned to expand from approximately 8,200 tonnes per day through 2030 to approximately 12,700 tonnes per day beginning in 2031.

Mako acquired the Moss Mine in March 2025 for approximately $2 million. CEO Akiba Leisman stated: "Mako acquired Moss in March of 2025 for a net purchase price of approximately US$2 million. Multiples of the acquisition price have already been returned to the Company through cash flow."

The company also disclosed a royalty litigation settlement with Patriot Gold Corp. regarding its 3% royalty interest on the Moss Mine. Mako agreed to pay Patriot an additional $1.55 million from approximately $3.7 million held by a bankruptcy monitor, pending Arizona Court approval. Separate litigation with affiliates of Royal Gold Inc. over a royalty of up to 1% on a portion of the property continues.

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