Vancouver, B.C. – January 10th, 2018: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or “the Company”) announces the first assay results from the newly discovered copper and silver mineralization at the Company’s 100% owned Chunibas property, located approximately 160 kilometres east of Hermosillo, Sonora State, Mexico.
As discussed in the Company’s news release dated November 29th, 2017, and as a follow-up to the Company’s grid soil sampling program, a strong copper/silver soil anomaly was defined in the northwest sector of the Chunibas project, an area that has seen little exploration by San Marco or past workers. Copper oxides have now been recognized and sampled from random outcrop exposures scattered over at least 1.2 kilometre of strike, and at least 100 metres of width. Additional sampling is ongoing in an effort to determine the full extent of mineralization, which remains open in all directions. Copper oxides (malachite and minor azurite) appear as the result of oxidation of chalcocite and bornite. Highlights of the initial 16 samples within the known zone of mineralization are;
|Sample number||Cu (%)||Ag (g/t)|
San Marco’s CEO, Bob Willis stated: “This most recent discovery is further evidence of the regional implications of this very large mineralized system. Our recent drilling at the Santa Fe target at Chunibas discovered wide intervals of gold mineralization in hydrothermal breccias. Our newest discovery is primarily copper and silver mineralization in a different geological environment, over an area, which is open in all directions. While sampling is, by necessity, confined to outcrop exposures it is important to note that mineralization has been discovered in most exposures within a large and growing area. Every effort was made to generate representative rock chip samples of entire individual outcrop exposures. There is no evidence that this zone was previously explored or sampled. Management considers this new discovery highly significant and is following up on it aggressively.”
Outcrop exposure in the area containing this new mineralization is generally poor. Sample points are dictated by irregularly spaced outcrops, represented by knobs, weather resistant ridges and small sub-crops, located within colluvium and soil covered foothills. At this point it does not appear that the mineralized outcrops are structurally related or created by preferential weathering, as copper mineralization has been found in several alteration regimes and rock types within this broad zone.
Host rocks are presumed to be Laramide age intermediate volcanics, which have variable textures, andesite breccias; porphyritic andesite and vesicular -amygdaloidal andesites. Copper and silver mineralization is mainly hosted in the andesite breccia which are moderately to strongly altered by an assemblage of epidote>chlorite>quartz>calcite>specularite. Mineralization occurs mainly as disseminations, patches, cavity fillings, minor veinlets and hydrothermal breccias.
Additional and pending exploration;
- Next batch of assay results of additional outcrop chip samples expected in approximately one week.
- Results of a Petrographic study to identify specific copper minerals expected in one week.
- Property exploration has resumed after the Christmas break. In addition to continued reconnaissance chip sampling, detailed channel sampling of known copper mineralized outcrops to be initiated.
- Induced Polarization (I.P.) as well as ground magnetic surveys are being considered to help define the boundaries of the system, as is trenching.
For related images, please visit the Chunibas Project on the Company’s website.
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 northwestern 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 64,716,276 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. 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.