Vancouver, B.C. - December 13th, 2016: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) announces receipt of all necessary permits from the Mexican environmental and natural resources ministry, Secretaría del Medio Ambiente y Recursos Naturales (SEMARNAT) allowing the Company to carry out additional surface exploration activities, including trenching and drilling, on its Chunibas property. As announced November 1st, 2016, the Company also has agreements with local ejidos(communal agricultural land authorities) allowing surface access for an indefinite period.
The Chunibas property is an intrusive hosted, intermediate sulphidation gold system, together with anomalous concentrations of silver, copper, lead and zinc. Gold is hosted in shear zones of various orientations with mineralization open in all directions. Historic drill results demonstrate that significant gold values occur not only within discrete, metric scale structures but within broad haloes of lower grade material.
Chunibas surface exploration will continue until about December 15th, 2016 and then re-commence in mid-January 2017 after data review and budget approvals. An extensive soil sampling program covering the primary mineralized area (1.5 km X 1.0 km) has been conducted. A total of 850 samples were collected and submitted for analyses. San Marco expects that final assay results will be announced in early January 2017.
The primary purpose of this extensive sampling program is to confirm covered projections of known mineralized structures, as well as new targets buried under the thin veneer of colluvial sediments that cover approximately 80% of the property. Reconnaissance soil sampling completed during 2015 demonstrates this is a successful and cost-effective means to trace mineralization under cover.
During the current phase of work, mineralized structures have been identified over a broad area, which extends up to one kilometre west from the main historic mine workings. An additional 250 soil samples are being collected covering this expanded target footprint. Although surface outcrop is restricted, select sampling of informal mine workings and sub-cropping shear zones have yielded significant gold assays up to 46.1 g/t gold.
All rock chip and soil sample results will be integrated into a new geochemical map of the project area, which can then be utilized to generate new drill targets.
San Marco’s CEO, Bob Willis states “Chunibas continues to show us we have yet to find the limits of the mineralization in all directions. Based on our revised geological model and expanded deposit footprint, we are confident that the 2016 program will lead to further exploration and diamond drilling. “
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 and Mariana 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.
On behalf of the Board of Directors,
Robert Willis, P. Eng.
President & CEO
For further information, contact:
National Instrument 43-101 Disclosure
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.
This news release includes technical information generated prior to the introduction of National Instrument 43-101. Details of the sampling methods, handling, and quality control methods used in the generation of this historical technical data 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.
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.