TSX-V: SMN

Projects

Chunibas Project

Summary

Size:470 hectares concession
Minerals:Gold, Silver, Copper
Target:Intrusive hosted shear structures , quartz/carbonate/ pyrite alteration
Stage:Drill Ready
Ownership:100%
Location:Located approximately 160 km east of Hermosillo in the prolific Sierra Madre Occidental gold belt, Sonora State, Mexico. The Chunibas property is accessible from Hermosillo in a 3-hour drive on paved and well-maintained gravel roads.
Infrastructure:All year round water supply and high tension power lines are located on or near the property. The nearby town of Sahuaripa (pop. 3,000), has services such as electricity, water, hotels, banks, restaurants, and gas station.
Mines close by:The property is located in close proximity to several operating mines: Mulatos (Alamos Gold), La India (Agnico Eagle) and Dolores Mines (Pan American Silver).

Project Geology

The Chunibas property is located in the Sierra Madre Occidental area of Northern Mexico. The property area is more specifically located in the Sahuaripa District, which geologically consists of Cretaceous to Tertiary sedimentary and volcanic sequences. Marine sedimentary limestones, sandstones and siltstones belonging to the Lower Cretaceous El Palmar Formation are stratigraphically followed by Upper Cretaceous agglomerates, sandstones, and andesite tuffs. These El Palmar Formation sediments have been structurally sheared and thrust-faulted over the more recent sediments and andesite tuffs.

Overlaying the marine sediments and tuffs are a series of volcano-sedimentary rocks and andesitic flows. Regionally, this stratigraphy is known as the “Lower Volcanic Sequence”. Upper Cretaceous to Lower Tertiary granodiorite and andesite porphyries intrude these earlier marine sediment and volcano-sedimentary sequences. A Tertiary sequence of andesite-basalt flows and rhyolite tuffs known as the “Upper Volcanic Sequence” (likely post-mineral) overlays this stratigraphy.

Regionally, these units, particularly the interface between the Lower and Upper Volcanic Sequences, host several significant gold and silver deposits including the Mulatos, Dolores and La India mines amongst others.

Main Targets

DHFrom [m]To [m]Interval [m]Au [g/t]
ARG 11.521.319.81.1
65.588.422.92
ARG 26167.16.11.2
ARG 319.83515.22.8
incl:25.9359.14.6
ARG 4013.713.71
ARG 59.153.344.20.2
ARG 712.215.230.9
ARG 8042.642.61
Incl:12.242.630.41.3
ARG 9353831.7

  • The Chunibas targets are a series of gold bearing veins hosted in intrusive rocks that have intruded tuff agglomerates.
  • To date, several sub-vertical main veins and numerous high-grade iron-oxide shear zones have been identified on the property.
  • The main known five veins Santa Rosa, Argentina, Santa Fe, Gusima and Western form the mineralized “corridor” that is presently at least 750m wide and 1.5 km long.
  • All five main veins are open in both directions along their strike (see PDF presentation on Company website: www.sanmarcocorp.com).
  • Grab samples from the main veins returned up to 48.9 g/t Au, and continuous chip samples returned e.g. 1.2m @ 26.4 g/t Au and 1.5m @ 15.5 g/t Au.
  • Historical RC drilling from 1997 intersected significant gold intervals over the entire length of the drill holes (*).
  • Wall rock mineralization around the main veins was confirmed in the location of drill hole AGR 8 (Santa Fe vein). The hanging wall of the Santa Fe vein returned 10 m @ 3.8 g/t Au and confirmed the presence of gold mineralization previously reported through drilling. Wall rock mineralization was also confirmed at the Western vein.
  • Chunibas is a drill-ready target.
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