Vancouver, B.C. June 23, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) announces the mobilization of a field crew on its flagship gold/silver/zinc Buck property in north-central B.C. The 100% optioned property consists of 15,000 hectares and is located just south of the town of Houston, B.C.
- Geological mapping, structural analysis, and geochemical sampling to be completed.
- Multiple targets identified on the property through historic data compilation.
- Continuous rock chip intervals in the Trench Zone include 48 metres of 2.96 g/t Au, 48 metres of 2.61 g/t Au, and 45 metres of 1.82 g/t Au. (1)
- Significant drill hole intercepts in the Trench Zone include 8 metres of 2.70 g/t Au, 33 g/t Ag, and 12.0 metres of 1.06 g/t Au, 25 g/t Ag. (1)
- Phase 2 drill program to commence within weeks of field work completion.
The team has begun on-site field reconnaissance and preparation for the summer 2020 exploration program, with geologists arriving shortly.
San Marco’s CEO, Bob Willis, states “We are excited to begin field work at the Buck property. We have a number of excellent drill targets generated through historic data compilation and are keen to get on site, evaluate their priority, and get the drill turning again. The geology at Buck appears very similar to the geology at the Blackwater deposit, recently acquired by Artemis Gold from New Gold Inc. We’re producing the first compilation of historic results from multiple sources. This is generating very compelling targets in several lightly explored areas kilometres away from the bulk of historical work. Results from these new target areas are still being refined and will be released as they are compiled.”
The summer exploration program will include geological mapping and geochemical sampling of key exploration targets identified through analysis of historic geological, geochemical, and geophysical data compiled by San Marco’s technical team. Drilling of multiple targets is planned within a few weeks after the initial field work is completed.
Of particular interest is a zone to the west of the Phase 1 diamond drilling program announced on April 8, 2020 (Figure 1). Newly recovered records of historic work in the “Trench Zone” includes drilling and geochemical sampling in the form of soil and rock samples, as well as rock chip samples taken from trenches (Figure 2). Rock chip samples are noted as continuous 3 metre intervals; significant intercepts include 48 metres of 2.96 g/t Au, 48 metres of 2.61 g/t Au, and 45 metres of 1.82 g/t Au. (1)
Continuous rock chip intervals from historic trenching in the Trench Zone appear in Table 1 below.
Table 1. Historic Continuous Rock Chip Intervals from Trenches
* Individual rock chip samples are 3 metres in length
Historic drilling in the Trench Zone also identified continuous near-surface mineralization, including 30.8 metres of 2.70 g/t Au, 33 g/t Ag, and 12.0 metres of 1.06 g/t Au, 25 g/t Ag. (1)
Significant drill hole intercepts within the Trench Zone appear in Table 2 below.
Table 2. Historic Drill Hole Intercepts
* Drill core length, not true lengths
The 2020 exploration program will be carried out in compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Strict safety protocols will be in place to protect the health of employees, contractors, consultants, and their families.
Change of CEO
San Marco also announces the appointment of Bob Willis as CEO. Mr. Willis previously held the role of Executive Director. This change was made following the Company’s Annual General Meeting held on June 11, 2020.
(1) The drill and rock chip results were obtained from parties that previously explored the property. The Company believes the significant intercepts to be accurate and comply with industry best practices at the time of drilling.
Links to Figures
About San Marco
San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc, and copper projects with a focus in mining friendly jurisdictions in both British Columbia and Mexico.
The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region and includes many former and current operating mines. The Company’s portfolio also includes the several prospective, early stage exploration properties in Mexico.
San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at sunsummitminerals.com
For further information, contact:
Sharyn Alexander, M.Sc.
VP Technical Services
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 also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.
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 Resources Inc. 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.