08:38 AM EDT, 08/28/2024 (MT Newswires) -- Mako Mining ( MAKOF ) reported Wednesday additional exploration results from the 2024 reverse circulation drill program in the Las Conchitas area near its San Albino gold mine in Nicaragua.

Highlights included 82.55 grams per tonne (g/t) gold over 2.0 meters and 16.83 g/t gold over 4.7 meters.

"These drill results further indicate the potential to expand high grade mineralization in areas where we are currently mining," CEO Akiba Leisman said. "However, what is particularly exciting about these exploration data is the high-grade reconnaissance exploration program results we are receiving within our 188-square kilometer land package."

"We recorded 67 grab and channel samples grading over 10 g/t across individual structures that can be measured over two kilometers in strike length," Leisman added.

Mako said the majority of the samples were taken in areas that were never been drilled before. The company added that it is preparing to begin drilling these regional targets.

Mako's share price dropped 4% yesterday to $3.12.