- The property is located less than 30 km SE of the Company´s Chunibas and 1068 projects, therefore increasing San Marco´s exploration footprint at a district scale.
- The property is located along a northwest structural trend where less than 100 km to the south hosts the La India and Mulatos gold mines, which are being operated by Agnico Eagle and Alamos Gold respectively.
The ground underlying Espiritu SMR´s property has been subjected to several exploration campaigns by other exploration companies. The most recent exploration work was conducted by Kootenay Gold Inc., and various third-party partners via option agreements. According to the information disseminated by Kootenay Gold Inc., the property has the following characteristics*:
- An extensive area of polymetallic vein, stockwork, breccia and gold-copper porphyry mineralization.
- Mineralization and alteration are hosted along a 5 km east northeast trending structural corridor that measures between one and two km in width.
- Two zones of mineralization have been recognized; the northeast zone dominated by a porphyry setting is separated by a major fault from the southwest zone dominated by veins and stockworks of precious and base metal mineralization.
- Fifty-eight grab samples from the polymetallic southwest zone reported significant assays from veins that averaged 226 g/ton silver, 1.58% lead and 1.57% zinc with associated gold and copper values of 0.18 g/ton and 0.15% respectively.
Historical Drilling Results
On May 7, 2010, Kootenay Gold Inc. and its partner, Klondike Silver Corp., reported the completion of 10 diamond drill holes totalling 2,135 metres. Drilling was designed to test mineralization within a copper-gold porphyry system over the northeastern zone, covering an area of 1200 x 1800 metres underlain by a zoned alteration sequence and stockwork marked by intense secondary leaching. As a result, secondary copper mineralization was encountered within the stockwork and leached zone, which also reported interesting gold and silver values along significant long intercepts.*
Selected drill results include:
- Drill Hole ESP-02-09:48.00 m @ 0.19 g/ton Au; 0.10% Cu; 2.0 g/ton Ag. Including 1.50 m @ 1.80 g/ton Au; 0.07% Cu; 2.0 g/ton Ag
- Drill Hole ESP-06-10:220.50 m @ 0.14 g/ton Au; 0.15% Cu; 1.1 g/ton Ag.
Kootenay Silver Inc. and its partner Pinecrest Resources Ltd conducted the latest exploration works at the former Espiritu property. In June 15, 2012, Kootenay Silver Inc. announced the completion of five-diamond drill holes totalling409 metres in two of seven known silver-rich mineralized areas from the southwest zone of Espiritu property.
Selected drill results include:
- Drill Hole ESP-12-01: 41.00 m @ 9.0 g/ton Ag; 537 ppm Pb; 1268 ppm Zn; Including 11.0 m @ 26.2 g/ton Ag; 1388 ppm Pb; 2762 ppm Zn. EOH: 99.0 m
- Drill Hole ESP-12-04:8.5m @ 12.4 g/ton Ag; 420ppm Cu; 582ppm Pb; 730ppm Zn. 37.5m @ 569ppm Cu; 65 ppm Mo. Including 1.0 m @ 38.0 g/ton Ag; 670ppm Cu; 960ppm Pb; 1580ppm Zn. EOH: 82.0m
*The foregoing geological information on the Espiritu propertyobtained from Kootenay has not been verified by the Company, and readers are cautioned not to place undue weight on such information. The information is sourced from publicly disclosed information; The Espiritu property, source Kootenay Silver Inc. (www.kootenaysilver.com). Details of the sampling methods, handling and quality control methods used in the generation of the foregoing 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 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
Based on available data from the Mexican geological survey (“SGM”), Espiritu SMR overlies a window of pre-mineral cretaceous volcanic and sedimentary rocks intruded by Laramide age granitoids. According to the SGM data, Espiritu SMR covers portions of the San Felipe mineralized zone, a group of epithermal to mesothermal (gold, silver and lead) vein systems.
San Marco geological staff is preparing to do a first-pass ground validation and prospecting work at Espiritu SMR. The aim is to assess the mineralized zones of the main Laramide age intrusive rocks, which include the Espiritu porphyry copper-moly (±gold) prospect. Exploration efforts will also dedicated to the polymetallic mineralized system of the southwest zone of Espiritu SMR, where evidences for high temperature carbonate replacement mineralization has been documented by past explorers.