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San Marco Confirms Exploration Model for New Copper/Silver Discovery at Chunibas and Updates Exploration Plans in Preparation for Drilling

By March 26, 2018December 10th, 2019No Comments
Vancouver, B.C. – March 26th, 2018: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or “the Company”) reports results of ongoing exploration at its wholly-owned Chunibas Project in eastern Sonora State, Mexico and the development of a model for copper-silver genesis on the Project that will guide exploration plans in preparation for a drill program on the high-grade copper-silver mineralization discovery.

As announced on January 10, 2018, Chunibas hosts a stratiform, volcanic hosted copper/silver zone. The stratiform, volcanic hosted style of mineralization seen at Chunibas shares remarkable similarities to productive copper-silver deposits in Chile but has no comparison in Mexico. An independent geological expert in this style of mineralization recently confirmed to San Marco that the mineralization is identical to that of the copper-silver systems in northern Chile. This suggests that the processes responsible for development of the Chilean ore deposits (such as the ones from Mantos Blancos district) may have also occurred at Chunibas.

Observed similarities between the Chunibas copper/silver mineralization and known and comparable Chilean systems include:

  • Mineralized top and bottoms of intermediate volcanic rock units. Mineralized volcanics at Chunibas display brecciation and vesicles similar to Chilean deposits.
  • High grade and stratiform-like mineralization with variable dimensions along strike and down-dip.
  • Non-supergene specularite-bornite-chalcocite-(digenite) and covellite assemblage and paragenesis.
  • Early stage alteration assemblage is comprised by epidote-chlorite-quartz-specularite.

Robert Willis, San Marco’s CEO commented, “Our understanding of this new discovery has rapidly advanced in the last three months. We now have a type deposit to use as an exploration guide and we’ve enlarged the field crew to accelerate advancement of the discovery. It’s encouraging to know there are successful mines based on the same deposit type elsewhere in the world. Like Chunibas, Chilean deposits have mineralized zones that can be visually subtle and contain few accessory minerals that respond to indirect survey methods. We need to map and sample outcrop exposures in detail to maximize the effectiveness of a maiden drill campaign. We’re working hard to get that done as quickly and completely as possible.”

At Chunibas mineralized outcrops are difficult to sample due to their craggy and erratic nature. Where continuous chip channel sampling over stratiform units could be completed, examples assays results from the discovery zone are;

  • 10.5 metres of 1.13% copper and 16.91 g/t silver
  • 7 metres of 2.19% copper and 27.3 g/t silver.

Ongoing exploration in preparation for drilling includes;

  • Continued detailed geological mapping over the entire 1.7 km of known strike length. Mineralized volcanic units tend to have slightly varied composition and fabrics compared to less mineralized units, therefore, detailed mapping of individual units is important. In addition, mapping efforts are focused on the identification and distribution of different copper sulphides since these (similar types of Chilean systems) show specific zoning of different forms of copper mineralization.
  • Hand trenching outward from known mineralized outcrops with the intention of defining the continuity between and within the multiple mineralized units and between current surface exposures.
  • An XRF (X-ray fluorescence) rock (outcrop) analysis program for copper/silver over every outcrop within the known extensions of the mineralized corridor. Handheld XRF units provide immediate geochemical analysis (similar but more qualitative than a laboratory assay) of rock exposures. This technique is widely used by exploration companies for fast analysis of metals and pathfinder elements.

For related images, please visit the Chunibas Project on the Company’s website.

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 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:

Robert Willis, P. Eng.
President & CEO

For further information, contact:

Nancy Curry

Paul MacDonald

National Instrument 43-101 Disclosure

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. 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.

The Company 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.