VANCOUVER, Jan. 17, 2019 /CNW/ - San Marco Resources
Inc. (SMN: TSX-V) ("San Marco" or the "Company") announces that
Phase 1 exploration drilling results from its 100% owned
Chunibas copper/silver project, located in Sonora State,
Mexico (the "Project") have been
received. San Marco and a
wholly-owned subsidiary of Antofagasta plc ("Antofagasta") have entered
into an earn-in agreement to jointly explore and drill test several
copper-silver rich mineralized targets mapped on
surface. Antofagasta is funding all activities during the
Phase I exploration program, to a maximum of US$700,000.
Initial results from the program confirm the existence of a
typical copper-silver "Manto-Type" system. This initial
program consisted of approximately 1,640 metres of diamond drilling
distributed over 7 shallow drill holes. Five holes tested 1.2 km of
the NW-SE striking mineralized corridor, whilst the remaining two
holes tested approximately 400m width
along one NE - SW section perpendicular to the corridor.
The initial drill campaign achieved and confirmed the down-dip
and along strike continuity of alteration, mineralization and
receptive rock units mapped on surface. Highlights of the
mineralized intervals are as follows:
- Drill hole CHD18-05: 7.45 meters @ 0.1% Cu and 2.3 g/ton
Ag
22 meters @ 0.05% Cu and 0.7
g/ton Ag
- Drill hole CHD18-06: 3.0 meters @ 0.08% Cu and 0.6 g/ton
Ag
- Drill hole CHD18-07: 6.0 meters @ 0.06% Cu and 0.3 g/ton
Ag
San Marco CEO Christian Grijalva stated: "We are pleased
that Phase I drill results have confirmed the existence of a copper
mineralized system and provided useful third dimension data to
assist in vectoring towards the source of mineralization, and
potentially higher-grade copper zones. The Company's goal is to
identify a sizable mineralized "Manto-Type" system with the
potential to meet the high thresholds of its partnership with
Antofagasta. The first phase drill
program was designed to broadly test the target for certain
geological characteristics associated with the type of deposit
sought. The Company and its partner will evaluate the latest data
for ongoing exploration and vectoring guidance in planning a next
phase of exploration."
Final interpretation of drilling results will continue through
Q1, to help vector towards areas which may host feeder zones of
higher-grade mineralization.
Additional planned field work for Q1 will include detailed
mapping and sampling of additional prospective areas already
identified by first-pass work. The additional areas to be explored
are represented by several volcanic units with strong evidence of
alteration and mineralization, similar to what has been seen over
the drill tested zones.
* For related images, please click here.
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 Espiritu
SMR, 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 issued and outstanding shares.
On behalf of the Board of Directors,
Christian Grijalva, B.Sc.
Chief Executive Officer
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.