Yearly Archives

2017

San Marco Commences Exploration on Oregano

By | 2017
Vancouver, B.C. – May 24th, 2017: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) announces it has commenced exploration on the Oregano project, located within the Company’s 73,000 hectare Mariana concession (appl.), approximately 240 kilometres east of Hermosillo, Sonora State, Mexico.

The objective of this exploration program, using saw cut continuous channel samples, will be to identify anomalous grades of vein mineralization, over greater widths than previously known. The geological model at Oregano suggests the “boiling zone”, and presumably higher grades of gold and silver, may be only 150 – 200 metres (“m”) below the veins surface exposure.

San Marco’s CEO, Bob Willis stated; “We are excited to commence this new phase of exploration at Oregano and believe a cost-effective, focused program of work has an excellent chance of encountering higher grade gold mineralization and generating drill targets for further exploration.” The Oregano mineralized system has been traced for three kilometres and appears to be open. This is a District scale exploration opportunity for our shareholders.”

The initial phase of exploration will include systematic diamond saw cut channel samples across the veins and detailed geological mapping of the structures. Five of a proposed 15 channel/trenches have been completed. Of significance, after removing minimal overburden from flanks of the vein outcrops, true widths of the individual veins appear to be in the 5 – 15 m range, wider than 2 – 3 m vein widths previously known.

Of a total of 72 sample individual samples (each at least 1 m wide), 25% of the gold assays are greater than 0.20 g/t (up to 1.1 g/t; and 24% of the silver assays are greater than 10 g/t (up 38.2 g/t).

Assay results from the initial five trenches over 350 m of strike are;

Trench: Z – 01 – anomalous gold/silver
Z – 02 – 23.5 m @ 0.33g/t gold and 9.0 g/t silver including
10.30 m @ 0.52 g/t gold and 10 g/t silver
Z – 03 – 14.3 m @ 0.31 g/t gold and 5.0 g.t silver
Z – 04 – 31.4 m @ 0.12 g/t gold and 15.0 g/t silver
Z – 05 – 16.6 m @ 0.12 g/t gold and 10.0 g/t silver

The Oregano property is favourably located within the Sierra Madre Occidental belt of epithermal gold-silver deposits, and hosts a semi-continuous, three kilometre North-South belt of low sulfidation quartz veins which has only received limited historical exploration.

Vein textures, including well-developed lattice, bladed and cockade features, suggest the surface exposes of the veins are in the upper levels of the mineralizing system, such that excellent exploration potential exists along strike and at depth. Quartz varieties include, chalcedony, opaline, silica replacing calcite, cryptocrystalline, in veins striking north – south and dipping approximately 73 degrees to the east.

Host rocks include both felsic (rhyolite, rhyodacite) and intermediate (andesite) compositions, and occupy a favourable stratigraphic setting near the interface between the regionally correlative Lower and Upper Volcanic Series.

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 56,051,832 issued and outstanding shares.

On behalf of the Board of Directors,

Robert Willis, P. Eng.
President & CEO

For further information, contact:
Nancy Curry
info@sanmarcocorp.com

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. 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.

San Marco announces drilling has commenced at the Chunibas Project

By | 2017
Vancouver, B.C. – May 31st, 2017: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) announces that diamond drilling has commenced at its 100% owned Chunibas gold/silver project, located approximately 160 kilometres east of Hermosillo, Sonora State, Mexico.

  • The Chunibas targets are a series of high-grade gold bearing veins hosted in intrusive rocks
  • There are 5 main vein zones; Santa Rosa, Argentina, Santa Fe, Gusima, and Western, which comprise a “mineralized corridor” 750 metres wide and 1.5 kilometres long
  • The Company’s sampling of the one to two metre-wide structures has resulted in grades up to 46 g/t gold
  • The Project enjoys excellent infrastructure and access
  • Surface access rights secured
  • Additional drilling may be scheduled, based on initial results

The primary objectives of this drilling will be to confirm the presence of higher-grade mineralization within the discrete shear veins, as well as the presence of broad haloes of lower grade Au-Ag within adjacent, sericite – Fe carbonate altered wall rocks. Historical data has been incorporated with the Company’s recent exploration work, resulting in field evidence that the north-south trending shear/vein structures coalesce in various zones along strike. This has reinforced the geological model that wider zones of gold mineralization, flanking the high-grade shear structures, some of which continue to be mined by local gambosinos (miners), where grades appear to be in the 15 g/t gold range, exist. *

Mineralization is primarily oxidized at surface, however is expected to transition into sulphides within 50 metres of surface. All holes will be drilled perpendicular to the structures, angled at – 60 degrees and will test 3 targets over 1.5 kilometres of known strike. Recent exploration results have indicated the flanking intrusive wall rock is mineralized with low-grade gold. As a result, the drill program is designed to not only test the potential high-grade structures, but the possibility of a bulk-tonnage opportunity.

An initial 500 – 600 metres over 4 holes are scheduled, with the possibility that, pending assay results, the drill program may be expanded to continue throughout the summer months.

Initial assay results will be released as they are received and compiled and are expected by the end June. In addition, baseline metallurgical test work will also be completed, with the objective of determining precious metals recoveries as a function of degree of oxidation.

*See the Company’s website for historic reverse circulation drill results

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 56,051,832 issued and outstanding shares.

On behalf of the Board of Directors,

Robert Willis, P. Eng.
President & CEO

For further information, contact:
Nancy Curry
info@sanmarcocorp.com

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. 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.

San Marco to begin Phase One Drill Program at the Chunibas Project & Appoints New Chief Financial Officer

By | 2017
Vancouver, B.C. – May 4th, 2017: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) announces it has commenced preparation for Phase One core drill program at its 100% owned Chunibas gold/silver project, located approximately 160 kilometres east of Hermosillo, Sonora State, Mexico.

  • The Chunibas targets are a series of high-grade gold bearing veins hosted in intrusive rocks
  • There are 5 main vein zones; Santa Rosa, Argentina, Santa Fe, Gusima, and Western, which comprise a “mineralized corridor“ 750 metres wide and 1.5 kilometres long
  • The Company’s sampling of the one to two metre-wide structures has resulted in grades up to 46 g/t gold
  • The Project enjoys excellent infrastructure and access
  • Surface access rights secured
  • Access road repair and drill pad construction is commencing
  • Drilling expected to begin by the end of May
  • Additional drilling maybe scheduled, based on initial results

The primary objectives of this drilling will be to confirm the presence of higher-grade mineralization within the discrete shear veins, as well as the presence of broad haloes of lower grade Au-Ag within adjacent, sericite – Fe carbonate altered wall rocks. Historical data has been incorporated with the Company’s recent exploration work, resulting in field evidence that the north-south trending shear/vein structures coalesce in various zones along strike. This has reinforced the geological model that wider zones of gold mineralization, flanking the high-grade shear structures, some of which continue to be mined by local gambosinos (miners), where grades appear to be in the 15 g/t gold range, exist. *

An initial 4 core holes totalling approximately 500 metres is contemplated, two holes in the Santa Fe zone; one hole 400 metres along strike to the north in the Santa Rosa zone; and one hole a further 350 meters to the north in the Argentina zone. These holes are located in areas of old gambosino workings, as well as several historic reverse circulation drill holes. *

In addition, baseline metallurgical test work will also be completed, with the objective of determining precious metals recoveries as a function of degree of oxidation.

*See the Company’s website for historic reverse circulation drill results

San Marco appoints Fernando J. Costa CFO

The Company also announces that Fernando J. Costa, CPA, CA has been appointed as the Company’s new Chief Financial Officer.

Mr. Costa brings more than 20 years of professional experience in merger and acquisition transactions along with corporate finance, accounting and taxation matters. Mr. Costa earned his CPA, CA designation in 2001. Mr. Costa currently serves as an assurance partner in a large regional accounting firm located in Vancouver, British Columbia. He has significant experience in dealing with resource based public companies and has been involved in complex corporate finance transactions, mergers and acquisitions.

“We are extremely pleased to welcome Mr. Costa to San Marco’s management team,” said Bob Willis, CEO of the Company. “He brings an extensive amount of accounting and public company experience to San Marco which will assist the Company as it further develops its resource projects”.

This appointment comes with the departure of Bernie Zacharias, who played an important role in the development of the Company and ensuring accurate reporting. Both the board and management team are very grateful for Mr. Zacharias’ dedication to and hard work for the Company and wish him well on all his future endeavours.

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 56,051,832 issued and outstanding shares.

On behalf of the Board of Directors,

Robert Willis, P. Eng.
President & CEO

For further information, contact:
Nancy Curry
info@sanmarcocorp.com

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. 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.

San Marco field crews expands Gold-Copper-Molybdenum porphyry system on the 1068 Project

By | 2017
Vancouver, B.C. – May 2nd, 2017: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) announces that results from ongoing geological mapping and prospecting have confirmed and expanded the size potential of Target #1068 in Sonora State, Mexico, elevating the target to project status.

San Marco field crews completed geological and alteration mapping, stream sediment and rock chip sampling and petrographic analyses of select samples on the 1068 Project, a porphyry Gold-Copper- Molybdenum system identified by the Company’s generative program (see News Release January 19th, 2017).

Program Highlights:

  • Mapping increased the phyllic alteration (quartz, sericite, pyrite) halo surrounding the potassic alteration core to 1000m X 450 m, and defined an internal zone of strong phyllic stockwork developed in the volcanic lithocap.
  • The primary target remains hypogene (sulphide) copper-gold-molybdenum mineralization hosted in feldspar/quart/biotite porphyry.
  • Initial exploration program complete
  • Surface access rights secured over main targets
  • Application for drilling approval from the Mexican Ministry of Environment and Natural Resources (SEMARNAT) in process.
  • Project is deemed to be drill ready.

Surface exposures of the potassic altered feldspar-quartz-biotite porphyry core, exhibit multi-directional to sheeted quart sulphide veinlets (chalcopyrite, pyrite and molybdenite) with rock chip samples up to 0.59% copper, 0.4 g/t gold and 276 ppm molybdenum The Company believes that the 1068 Project is a classic zoned porphyry system with a broad envelope of quartz-sericite-pyrite alteration surrounding a potassic altered core. Recent mapping and sampling to the north and east of the overlying volcanic lithocap, extended the footprint of alteration and anomalous copper/gold geochemistry, suggesting the mineralized system will extend under the lithocap and beyond the limit of current exposure.

San Marco’s CEO, Bob Willis stated; “We are very fortunate to have discovered a copper, gold, moly porphyry environment so early in our regional generative exploration program. Phase I exploration at Project 1068 is complete, however, ongoing detailed geological and structural mapping, additional petrographic analysis will continue. The system is large and robust but complete testing requires sampling below the lithocap. Drilling is the next logical step to confirm if 1086 is the significant new porphyry discovery it currently appears to be.”.

San Marco is currently evaluating options for further exploration on the 1068 Project, including discovery drilling of mineralized exposures on a 100% basis. The Company is also entertaining joint venture discussions with third parties. Due to the strength of the 1068 Project, any deal offered will have to be substantially accretive to San Marco shareholders to outweigh the favourable risk-reward management thinks is presented by the Company carrying out Phase I drilling itself. A final decision will be made while drill permits with SEMARNAT are being processed.

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 56,051,832 issued and outstanding shares.

On behalf of the Board of Directors,

Robert Willis, P. Eng.
President & CEO

For further information, contact:
Nancy Curry
info@sanmarcocorp.com

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. 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.

San Marco Prioritizes Drill Targets on Chunibas, Raises $717,475 from Warrants Exercised and Launches New Website

By | 2017

Vancouver, B.C. March 2nd, 2017: San Marco Resources Inc. (SMN: TSX-V) (“the Company” or “San Marco”) provides an exploration update on the Chunibas Property located in Sonora State, Mexico and an update on corporate activities.

Chunibas Property Update

Exploration results from the recently completed property wide soil sampling grid (approximately 1,000 samples) have confirmed the existence of the primary gold target, 600 metres X 800 metres. Historical data has been incorporated with the Company’s recent exploration work, resulting in field evidence that the north-south trending shear/vein structures coalesce in various zones along strike. This has reinforced the geological model that wider zones of gold mineralization, flanking the high-grade shear structures, some of which continue to be mined by local gambosinos (miners), where grades appear to be in the 15 g/t gold range, exist. The Company’s sampling of the one to two metre-wide structures has resulted in grades up to 46 g/t gold.

Mineralized structures have been identified in the western sector of the property as well, however, additional exploration is required, since alluvial cover minimizes meaningful surface exploration beyond the one to two metre wide structures exposed at surface.

Drilling is anticipated to be the next phase of exploration such that field crews are planning and spotting drill hole locations. Since the Chunibas Property’s primary mineralized area is open in all directions, drilling is expected to probe deeper and on-strike mineralized zones not explored in previous drilling.

All drill permits, surface access agreements and drill contract proposals are in place, such that drilling could commence quickly. Partnership opportunities are being investigated to fund the drilling, however, the Company is funded to support this program as required.

Warrants Exercised

During the period of November 1st, 2016 to February 15th, 2017, the Company received $717,475 from the voluntary exercise of 7,570,750 warrants. Over the period, June 1st, 2016 to February 15th, 2017, the Company’s outstanding warrants have been reduced from 24,524,000 to 8,740,250.

Launch of new Corporate Website

As part of the Company’s continuing commitment to shareholder communication, San Marco has launched a new responsive website to enable ease of use for shareholders to view the Company’s website information across multiple platforms, including mobile devices. The website address remains the same: http://www.sanmarcocorp.com/.

Prospectors and Developers Association Convention 2017 (PDAC)

Company representatives will be attending the upcoming PDAC conference held at the Metro Toronto Convention Centre March 5th to 8th, 2017, in Toronto, Ontario. If you wish to arrange a meeting with management, please email info@sanmarcocorp.com.

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. San Marco currently has 53,851,832 issued and outstanding shares.

On behalf of the Board of Directors,
Robert Willis, P. Eng.
President & CEO

For further information, contact:
Nancy Curry
info@sanmarcocorp.com

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. 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.

San Marco Discovers Copper, Gold, Moly Porphyry System

By | 2017

Vancouver, B.C. – January 19th, 2017: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) announces updated exploration results from the Company’s generative exploration program in Sonora state, Mexico.

Several targets have been evaluated using the GlobeTrotters /San Marco Partnership database resulting in the identification of alteration patterns ranging from porphyry to high sulphidation systems.

Of particular interest are the results of geologic traverses, prospecting and rock chip sampling on Target #1068, which has identified a nest of previously unmapped porphyritic intrusions along the northeastern contact of a much larger batholith. Preliminary geologic mapping indicates a large, zoned alteration system with a potassic (biotite-magnetite) altered core and a large phyllic (quartz-sericite) altered envelope.

One of these intrusions, a quartz-feldspar-biotite porphyry, exhibits quartz-chalcopyrite-pyrite-molybdenite bearing “B” veins, which are indicative of a porphyry Cu-Mo-Au system. Adjacent dacite porphyry and the overlying volcanic lithocap are phyllic altered and contain stockwork quartz-sericite-pyrite “D” veins.

Exposures of mineralized rock are very limited by topography and the size of the mineralized system remains to be determined. Multiple continuous chip samples have been taken which are anomalous in copper (up to 0.59%), gold (up to 0.4 ppm) and molybdenum (up to 273 ppm).

These results – although preliminary – are solid evidence that the GlobeTrotters/San Marco Partnership can successfully identify and acquire high quality greenfield projects. Geological mapping and prospecting will continue for Q1 2017.

Generative exploration activities during Q1 2017 will also include the field investigation of at least four additional Partnership targets, data review and exploration planning for the Company’s 100% owned, 72,820 hectares, Mariana concession. San Marco currently has three separate crews in the field completing target generation and ranking for new acquisitions, as well as advancing currently owned exploration projects. Management expects to report updated results from ongoing work at Chunibas shortly.

Robert Willis, San Marco’s President and CEO noted “we consider our Target #1068 as “proof of concept” for the highly time and cost efficient targeting JV we created with GlobeTrotters. Our crews have partially mapped in a classic porphyry alteration system of substantial size. Most surface exposures are high-level lithocap, which generally doesn’t display anomalous geochemistry. However, we have been able to find scattered exposure in arroyos where erosion has exposed underlying rock units and mineralization. All the sampling done at these exposures has reported anomalous to highly anomalous copper and gold values. We view Target #1068 as a legitimate new porphyry discovery and look forward to rapidly advancing it. We have scores of other targets in the region to investigate and rank and that work will be carried on simultaneously”.

As the Company’s property portfolio grows, management will seek partners to fund additional exploration.

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 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,
Robert Willis, P. Eng.
President & CEO

For further information, contact:
Nancy Curry
info@sanmarcocorp.com

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.

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.