VANCOUVER, Oct. 18, 2018 /CNW/ - San Marco Resources
Inc. (SMN: TSX-V) ("San Marco" or "the Company") is pleased to
announce it has commenced exploration on its 100% owned Espiritu
SMR property. Exploration work will include geological mapping,
surface rock sampling and assessment of historical drillhole and
rock data. The porphyry gold-copper-moly mineralized area of
Espiritu SMR will be the primary focus of this exploration
program.
San Marco has engaged
Luciano Bocanegra to lead the
exploration team to re-map geology; re-log drill core; and generate
a geological model to define vectors toward additional mineralized
areas of Espiritu. Mr. Bocanegra, currently Manager of Petra Gaia
Consulting, a spectroscopy and exploration mining consulting
company headquartered in Chile,
has previously consulted for companies such as Hochschild Mining
plc and Rio Tinto plc, and over the last five years worked in
Latin America as a technical
advisor and consultant for many mining exploration companies. As
well, Mr. Bocanegra completed the detailed geological evaluation of
San Marco's 1068 porphyry Cu -Mo
-Au project.
Chris T. Grijalva, CEO stated,
"Preliminary property assessment has allowed us to recognize the
porphyry gold-copper-moly potential for Espiritu SMR, the magnitude
of which is unknown. The area will be re-mapped to determine the
surface extent of the system(s). Our first pass review suggests the
mineralized zones are open in all directions. We still need to
understand the zoning and other possible controls of the
mineralization in order to best target future drilling.
San Marco is taking the Espiritu
potential very seriously and, for this reason, has engaged an
experienced, high calibre expert who immediately will create and
execute an aggressive and systematic exploration program. We are
targeting late November for completion of this first-pass
program."
Espiritu SMR is located approximately 230 kilometres ("km") east
of Hermosillo and 15 km east of the town of Sahuaripa. Espiritu SMR
(acquired through the recent Mexican Government mineral concession
lottery), covers approximately 2,712 hectares and is located less
than 30 km southeast of the Company´s Chunibas and 1068 Projects.
The property hosts porphyry gold-copper and polymetallic
silver-lead-zinc mineralization. The gold-copper-moly porphyry
system is located over the eastern section of the property,
covering an area of 1200 x 1800 metres underlain by a zoned
alteration sequence and quartz vein stockwork marked by strong
quartz-sericite overprinting earlier potassic alteration.
Historical drill hole assay data* has indications of widespread
gold and copper mineralization. Selected historical 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.
* The foregoing geological information on
the Espiritu property was previously publicly disclosed
by (and San Marco obtained it
from) Kootenay Silver Inc. (www.kootenaysilver.com) and has not
been verified by the Company. Readers are cautioned not to place
undue weight on such information. Details of the sampling
methods, handling and quality control methods used in the
generation of the foregoing historical technical data by Kootenay
Silver 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.
For further detail historical information please see Company´s
news release dated May 15, 2018.
Early indications suggest the porphyry-related alteration and
mineralization footprint is widespread with large scale potential.
Detailed mapping should give a more accurate indication of the
lateral and depth extensions of porphyry driven mineralization.
San Marco has noted that
mineralized and altered zones remain partially untested and will be
subject of systematic exploration works to be conducted during the
upcoming winter season and through the spring of 2019.
Preliminary indications from an historical data review and field
validation by Luciano Bocanegra,
suggest the past drill hole collar locations, azimuths and depth of
the completed ten-hole historical program were, essentially random
in relation to the geometry and zoning of the Espiritu SMR porphyry
gold-copper-moly system (s). The Company recognizes that a much
larger scale potential exists; hence exploration will concentrate
on defining and targeting mineralized zones.
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 a
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.
On behalf of the Board of Directors:
Christian Grijalva, B.Sc.
President & CEO
National Instrument 43-101 Disclosure
This news release has been approved by San Marco's Co-Chairman, 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.
San Marco 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.
SOURCE San Marco Resources Inc.
