Vancouver, B.C. – October 2, 2014: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or “the Company”) has discovered the presence of alteration patterns consistent with high sulfidation epithermal-type gold deposits at its CdM South concession in the Cuatro de Mayo Project, Sonora State, Mexico. Furthermore, stream sediment sampling, using the bulk leach extractable gold (“BLEG”) technique, indicates the presence of gold coincident with this alteration.
In conjunction with its early reconnaissance work at CdM Central, San Marco geologists prospected at the CdM South concession where they discovered indications of high-sulfidation epithermal-style alteration including massive silicification and locally vuggy silica. Approximately 20% of the property was traversed, primarily along 3 creek drainages. Anomalous gold was detected in stream sediments over an 800 meter section of one stream in particular that occurs below highly silicified outcrops. Drainage flow indicates the origin of the gold is from the central area of the 3,336 hectare concession. In addition, fine gold was recovered locally from panning creek bed material. Although the Company’s collection of rock chip samples was very limited due to the rainy season, in the northern area of CdM South, chip sampling of a highly altered silicified outcrop returned 0.43 g/t gold.
The CdM South concession lies approximately 20 km from both the La India and Mulatos gold operations (owned by Agnico Eagle and Alamos Gold respectively), each of which are producing gold from high sulfidation epithermal deposits. CdM South is approximately 50 km southwest of the CdM Central block of concessions and the El Valle shear zone, which was the subject of a separate San Marco news release issued on September 29, 2014. A map showing the location of concessions comprising the Cuatro de Mayo property is available atsunsummitminerals.com.
Robert Willis, CEO of San Marco states “CdM South shows alteration patterns consistent with high sulfidation epithermal gold deposits, has returned anomalous gold in regional first-pass stream sediment sampling, and is in the vicinity of two operating mines producing gold from high sulfidation epithermal deposits. Our first pass evaluation of CdM South clearly indicates follow up work is warranted. This is the second highly prospective target we have identified within the CdM group of concessions over the last few months. San Marco has a top notch exploration team who continue to methodically field proof and prioritize targets.”
Cuatro de Mayo Background
The Cuatro de Mayo property comprises 18,564 hectares in three claim areas located approximately 160 km east of Hermosillo, Mexico; CdM Central (seven concessions), CdM East, and CdM South (one concession each). Numerous gold, silver and base metal showings and historic workings are known to occur in the Cuatro de Mayo property and surrounding area. These showings represent a variety of deposit types including epithermal gold and silver, structurally controlled stratabound gold, CRD-type (mantos, skarns) silver-lead-zinc showings, and mesothermal silver showings. Additional details are provided on the Company’s websitesunsummitminerals.com and in San Marco’s news release dated May 14, 2014.
About San Marco
San Marco Resources Inc. is a Canadian mineral exploration company with a current portfolio of four promising properties in mining-friendly Mexico and an aggressive project generation program focused on high-calibre, low-opportunity cost projects. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.
For further information, contact:
Robert D. Willis
Investor Relations Officer
National Instrument 43-101 Disclosure
The technical information contained in this document has been verified, and 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.
The CdM South stream sediment samples discussed in this document were assayed using the bull leach extractable gold (“BLEG”) assay technique, which is well suited for first-pass evaluation for the presence of gold anomalies over a large area, but which does not recover gold tightly held in compounds or physically encased on other minerals. As such, BLEG assay results are generally far lower than those obtained by fire assay. The samples discussed herein were prepared for analysis at.ALS Chemex facilities in Hermosillo and analyzed using Au-AA12, MS41L and MEICP41iL mothods at ALS Chemex in North Vancouver. San Marco’s sample collection, integrity, quality control and assurance procedures are in line with industry best practices and comply with National Instrument 43-101 requirements.
Forward Looking Information
Information set forth in this document includes forward-looking statements, such as: potential exploration plans and programs for the Cuatro de Mayo project. 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 Resources Inc. For instance, the execution of any exploration programs planned by the Company will be dependent upon the availability of both human and financial resources, both of which are presently limited. 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 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.