Vancouver, B.C. – October 08, 2014: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or “the Company”) is pleased to announce rock chip sampling results from four trenches recently completed at the El Valle shear zone on the Company’s Cuatro de Mayo project in Sonora State, Mexico. This trench sampling has returned results of up to 0.55 g/t gold over 24 metres.
Recent mapping along the El Valle shear zone has extended its known strike length to 800 metres, of which 400 metres has now been intermittently cross-cut and sampled. The systematic trenching recently completed has resulted in the discovery of a number of parallel, gold-bearing shears, which may coalesce with the main shear at depth. The El Valle shear zone is therefore open in all three dimensions. The trench sampling results reported below are comparable to those obtained from the Company’s recently released creek sampling at El Valle (see news release dated September 29, 2014) and confirm the gold-bearing nature of the shear zone. Importantly, ICP results for secondary and pathfinder elements (particularly silver and mercury) indicates surface exposures at El Valle are quite high in the mineralized system and that both precious and base metal values may increase with depth. An El Valle trenching map is available at www.sanmarcocorp.com.
Robert Willis, CEO of San Marco states “The El Valle area has quickly and efficiently developed into an exciting exploration target hosting oxide gold at surface. Shallowly dipping gold-bearing shear zones are a common feature in gold deposits in northwest Mexico, including the famous Megashear in western Sonora State. Similar structures that have returned grades in the range of those reported by San Marco today account for some of the most successful oxide heap leach operations currently in production in Sonora. The Company looks forward to undertaking additional work at this prospective target, which could include drilling, in order to assess the gold deposit potential at El Valle.”
Tookie Angus, Chairman of San Marco adds “The Cuatro de Mayo project is a highly prospective property that has provided early stage success for San Marco. The Company’s focus on this project at this time is clearly warranted.”
From south to north along the El Valle shear zone, sampling results to date include:
Creek 1 (previously released): 18.1 metres averaging 0.43 g/t gold including 12.0 metres averaging 0.57 g/t gold near the western contact, and 14.2 metres averaging 0.90 g/t gold near the eastern contact. Approximately 10 metres of lower grade gold exists in the center section of the shear,
Trench 1: 25 metres averaging 0.40 g/t gold. This sample includes both cleaned bedrock exposure and intermittent areas of sub-crop/alluvium that report generally lower grades. Where exposed, the shear zone exhibits significant alteration and silicification around intense quartz veinlets.
Trench 2: 58 metres averaging 0.32 g/t gold, including 24 metres averaging 0.55 g/t gold. This sample interval was completely within shear zone in bedrock exposed by trenching with no sub-crop/alluvium sections.
Trench 3: 22 metres averaging 0.21 g/t gold including 12 metres averaging 0.26 g/t gold. A second shear structure containing anomalous gold (20 metres averaging 0.10 g/t gold) was discovered 32 metres to the east of this higher grade section. The trench was terminated in this second zone where an intermittently flooding creek prevented the backhoe from continuing. Bedrock was not reached in all zones along this trench and intermittent lower grade sections relate to samples collected from the bedrock/alluvium transitional zone.
Creek 2 (previously released): 9.1 metres averaging 1.0 g/t gold. Again, this sampling was truncated within the shear zone due to intermittent flooding within the creek. However, the shear zone was visually observed for an additional 30 metres eastward.
Trench 4: 22 metres averaging 0.21 g/t gold including 12 metres averaging 0.32g/t gold. This trench was dug in order to test the hanging wall of the El Valle shear zone rather than to crosscut the main shear structure. A shear zone, which appears to be a sub-parallel or splay of the main shear, was encountered at the eastern end of this trench. Bedrock was not reached in all zones along this trench and intermittent lower grade sections relate to samples collected from the bedrock/alluvium transitional.
As expected, the surface width of the El Valle shear zone pinches and swells, and is locally cross cut by northeast-trending faults. The shear zone appears to dip shallowly to the northeast. Trenches 1 to 4 were excavated with a backhoe to a maximum depth of three metres (the limit of the backhoe). Due to variations in the overburden depth, some areas had to be hand trenched, and samples from these areas consist of sub-crop and alluvium rather than clean rock exposures. Gold values were typically lower, though still anomalous, in these sub-crop samples. The trench results above correspond to continuous 2 metre rock chip samples, which periodically included sampling of the sub-crop/alluvium interface, and represent a portion of the total surface width of the shear zone.
About San Marco
San Marco Resources Inc. is a Canadian mineral exploration company with a current portfolio of four promising properties in mining-friendly Mexico and an aggressive project generation program focused on high-calibre, low-opportunity cost projects. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.
For further information, contact:
Robert D. Willis, CEO
Barbara Henderson, Investor Relations Officer
National Instrument 43-101 Disclosure
The technical information contained in this document has been verified, and this news release has been approved, by San Marco’s CEO, 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.
The samples discussed in this document were prepared for assay at ALS Chemex Lab in Mexico and assayed at their facility in Vancouver, BC. A 30 gram split is analyzed for gold, using the Au-AA23 method. Sample results greater than 10 ppm are re-assayed, using AA23 fire assay and gravimetric finish. For silver, copper, lead and zinc, a multi-element, four acid digestion (ME – ICP 61) method is used. For initial assays of silver > 100 ppm, copper, lead and zinc > 10,000 ppm (over limits), the OG62 method is used for re-analysis. San Marco’s sample collection, integrity, and quality control and assurance procedures are in line with industry best practices and comply with National Instrument 43-101 requirements.
Forward Looking Information
Information set forth in this document includes forward-looking statements, such as: initial interpretation of geological observations; and, potential exploration plans and programs for the Cuatro de Mayo project. While these statements reflect management’s current understanding, 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. For instance, the execution of any exploration programs planned by the Company will be dependent upon the availability of both human and financial resources, both of which are presently limited. Furthermore, geological interpretations are open to revision as additional information becomes available. 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 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.