San Marco Resources Engages Geological Consultant; Commences Evaluation of 100% Owned Espiritu SMR Au-Cu-Mo Project
TSX VENTURE: SMN
VANCOUVER, Oct. 18, 2018 /CNW/ - San Marco Resources Inc. (SMN: TSX-V) ("San Marco" or "the Company") is pleased to announce it has commenced exploration on its 100% owned Espiritu SMR property. Exploration work will include geological mapping, surface rock sampling and assessment of historical drillhole and rock data. The porphyry gold-copper-moly mineralized area of Espiritu SMR will be the primary focus of this exploration program.
San Marco has engaged Luciano Bocanegra to lead the exploration team to re-map geology; re-log drill core; and generate a geological model to define vectors toward additional mineralized areas of Espiritu. Mr. Bocanegra, currently Manager of Petra Gaia Consulting, a spectroscopy and exploration mining consulting company headquartered in Chile, has previously consulted for companies such as Hochschild Mining plc and Rio Tinto plc, and over the last five years worked in Latin America as a technical advisor and consultant for many mining exploration companies. As well, Mr. Bocanegra completed the detailed geological evaluation of San Marco's 1068 porphyry Cu -Mo -Au project.
Chris T. Grijalva, CEO stated, "Preliminary property assessment has allowed us to recognize the porphyry gold-copper-moly potential for Espiritu SMR, the magnitude of which is unknown. The area will be re-mapped to determine the surface extent of the system(s). Our first pass review suggests the mineralized zones are open in all directions. We still need to understand the zoning and other possible controls of the mineralization in order to best target future drilling. San Marco is taking the Espiritu potential very seriously and, for this reason, has engaged an experienced, high calibre expert who immediately will create and execute an aggressive and systematic exploration program. We are targeting late November for completion of this first-pass program."
Espiritu SMR is located approximately 230 kilometres ("km") east of Hermosillo and 15 km east of the town of Sahuaripa. Espiritu SMR (acquired through the recent Mexican Government mineral concession lottery), covers approximately 2,712 hectares and is located less than 30 km southeast of the Company´s Chunibas and 1068 Projects. The property hosts porphyry gold-copper and polymetallic silver-lead-zinc mineralization. The gold-copper-moly porphyry system is located over the eastern section of the property, covering an area of 1200 x 1800 metres underlain by a zoned alteration sequence and quartz vein stockwork marked by strong quartz-sericite overprinting earlier potassic alteration.
Historical drill hole assay data* has indications of widespread gold and copper mineralization. Selected historical drill results include:
- Drill Hole ESP-02-09: 48.00 m @ 0.19 g/ton Au; 0.10% Cu; 2.0 g/ton Ag, including 1.50 m @ 1.80 g/ton Au; 0.07% Cu; 2.0 g/ton Ag
- Drill Hole ESP-06-10: 220.50 m @ 0.14 g/ton Au; 0.15% Cu; 1.1 g/ton Ag.
* The foregoing geological information on the Espiritu property was previously publicly disclosed by (and San Marco obtained it from) Kootenay Silver Inc. (www.kootenaysilver.com) and has not been verified by the Company. Readers are cautioned not to place undue weight on such information. Details of the sampling methods, handling and quality control methods used in the generation of the foregoing historical technical data by Kootenay Silver are unknown to San Marco, and the drill material, assay results, true width of intercepts herein cannot be and have not been verified by the Company's Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
For further detail historical information please see Company´s news release dated May 15, 2018.
Early indications suggest the porphyry-related alteration and mineralization footprint is widespread with large scale potential. Detailed mapping should give a more accurate indication of the lateral and depth extensions of porphyry driven mineralization. San Marco has noted that mineralized and altered zones remain partially untested and will be subject of systematic exploration works to be conducted during the upcoming winter season and through the spring of 2019.
Preliminary indications from an historical data review and field validation by Luciano Bocanegra, suggest the past drill hole collar locations, azimuths and depth of the completed ten-hole historical program were, essentially random in relation to the geometry and zoning of the Espiritu SMR porphyry gold-copper-moly system (s). The Company recognizes that a much larger scale potential exists; hence exploration will concentrate on defining and targeting mineralized zones.
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 a strategic project generation program focused on high-caliber, low acquisition cost opportunities in northwestern Mexico. The Company has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.
On behalf of the Board of Directors:
Christian Grijalva, B.Sc.
President & CEO
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.
San Marco 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. 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.