Balmoral Resources

San Marco Resources identifies additional significant Copper/Silver mineralization on Chunibas and begins Drill preparation

VANCOUVER, British Columbia, July 19, 2018 (GLOBE NEWSWIRE) -- San Marco Resources Inc. (TSX-V:SMN) (“San Marco” or the “Company") announces the results and recommendations of its continuing Chunibas exploration program. Most recent surface exploration activities included geological mapping, trenching and geochemical surveys. As a result, the San Marco team has expanded the known surface expression of the mineralized system and confirmed consistent copper mineralization in several areas within the larger system.

San Marco CEO Christian Grijalva stated: “We’re very pleased with the results we have generated over the past few months at Chunibas. We’ve been able to conclusively demonstrate that the copper mineralization on the Chunibas property represents a typical volcanic-hosted stratiform system, analogous to several known copper-silver Chilean deposits but previously unknown in Mexico. Now that we have confirmed both scale and consistency, the next step will be preparations for a drilling campaign to locate higher-grade areas and then expand those areas down-dip and along strike. The Company expects a drill program could start as soon as the rainy season ends, and local road conditions improve.”

Exploration Results

Highlights include: 

  • Recent exploration has identified many new copper/silver occurrences. Ninety-six new rock chip sample assay results had been received. Approximately 80% of these samples exhibited visible copper oxide/sulphide mineralization with 41% of these sample assays having copper values greater than 0.1%. The highest reported copper grade is 1.34%
  • Attempts to excavate hand dug trenches were very challenging due to the craggy undulating rock/alluvium contact. Highlights of the few successful saw-cut continuous channel samples are: 30 metres (“m”) at 0.16% copper (“Cu”), 2.6 g/t silver (“Ag”) and 22m at 0.17% Cu and 2.3 g/t Ag.
  • Portable X-ray fluorescence rock analysis was conducted over an area of 300 m by 1400 m. The results indicate anomalous to significant copper values remain consistent throughout and along the entire corridor.
  • The mineralized NW-SE corridor is 1.7 kilometres by 300 m and remains open along strike and down dip.
  • Copper sulphide mineralization occurs as a non-supergene bornite-chalcocite-(diginite) assemblage. Copper oxides are also common.
  • For related images, please visit the Chunibas Project on the Company’s website.

Highlights of the most recent rock sample assay results are:

Sample number Cu (%) Ag (g/t)
366710 0.35 3.01
366718 0.81 4.62
366731 1.13 26.6
366732 0.77 15.8
366735 0.41 1.8
366736 0.62 2.71
366738 0.76 3.28
366740 0.54 1.91
366746 1.34 12.75
366754 0.42 2.52
366756 0.33 1.1
366758 0.3 3.61
366759 0.67 6.58
366760 0.32 1.12
366761 1.31 5.06
366772 0.46 3.42
366781 0.34 1.5

Exploration Plans

Integration of the recent exploration results into the Chunibas database to generate a comprehensive exploration strategy is ongoing.

The following exploration program will continue until the Company begins its maiden drill campaign following the end of the current summer rainy season:

  • Detailed geological mapping and “in fill” rock chip and channel sampling over the south-eastern extension of the mineralized corridor.
  • Anomalous copper points identified by portable X-ray fluorescence rock analysis, in combination with known and recently found mineralized occurrences, will be considered for future drill hole locations.
  • Drill targets will be defined to adequately test on-strike, down-dip, and depth projections.

About San Marco

San Marco Resources Inc. is a Canadian mineral exploration company with a portfolio of promising projects in mining-friendly Mexico, including the Chunibas, Mariana and 1068 Projects in Sonora State.

San Marco actively pursues strategic project generation program focused on high-caliber, low acquisition cost opportunities in the North-western Mexico. The Company has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value. San Marco currently has 66,286,082 issued and outstanding shares.

On behalf of the Board of Directors,

Christian Grijalva, B.Sc.
Chief Executive Officer

For further information, contact:
Nancy Curry
This email address is being protected from spambots. You need JavaScript enabled to view it.

National Instrument 43-101 Disclosure

This news release has been approved by San Marco's Co-Chairman, Robert D. Willis, P. Eng. a "Qualified Person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the assay reports provided to San Marco by its independent testing laboratory. 

The Company has implemented quality assurance (“QA”) and quality control (“QC”) programs to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. All sampling programs are carried out in a careful and diligent manner using scientifically established sampling practices designed and tested to ensure that the results are representative and reliable. Quality control programs appropriate to the type of sample and the mineralization are implemented, including such measures as external blanks, standards and duplicate samples. The security of samples from sample acquisition to analysis is a vital component of the sampling process. Procedures include the use of secure core logging, sampling, storage and preparation facilities as appropriate and the prompt, secure and direct shipping of samples to the laboratories. Appropriate sample security procedures are employed given the geographic and topographic conditions and the logistics created by the site location.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management's current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco's actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


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