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:
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.