Vancouver, B.C. – November 29th, 2017: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or “the Company”) announces that it is continuing surface exploration at its 100% owned 1068 and Chunibas Projects. As well, discussions and property site visits continue with numerous third parties regarding their potential acquisition of an interest in San Marco’s projects.
San Marco’s CEO, Bob Willis stated: “As we continue preparations to drill our 1068 copper, molybdenum and gold porphyry system, ongoing corporate strategic planning relating to new acquisitions and joint ventures could lead to significant opportunities for our shareholders. Our goal is, and has always been, to maximize stakeholder value through efficient use of our treasury for exploration and expanding our property portfolio.“
The Project is an undrilled copper, molybdenum and gold porphyry system discovered in San Marco’s generative program (see news release datedSeptember 26th, 2017). Highlights include:
- Geological mapping completed to date, has confirmed that phyllically altered and veined zones extend approximately one kilometre (“km”) to the east and 400 metres (“m”) to the south from previously identified potassic altered porphyritic rocks.
- Rock chip assay and spectroscopy results from a grid rock sampling survey (0.8 km by1.6 km), show a coincidental footprint.
- Drill target definition from geological mapping completed to date.
- Commence induced polarization (“IP”) survey in December.
- All data integration of geology, geochemistry and IP will allow San Marco to pinpoint additional drill targets.
- One obvious drill target at a small erosional potassic alteration window already identified.
As noted in the Company’s news release dated August 9th, 2017 regarding the Chunibas Project, the discovery of breccias in the recent core drilling program has led to the re-mapping of surface outcrops property wide, re-logging of the core, and generation of a revised exploration program based on the new, larger porphyry-related breccia gold model/target. Highlights include:
- The San Marco team has identified a new style/type of mineralization on the property during the recent soil sampling program. Mapping of the mineralization confirms a NW-SE trend for at least 1.2 km and remains open in all directions. Rock chip samples have been submitted to the lab, the results of which will assist geologists to further understand this exciting new discovery.
- Field mapping and prospecting mostly completed.
- Grid soil sampling covering an area of 1.2 km by 1.3 km over western segment of the property was conducted and completed. Samples have been submitted to the lab, a three week turnaround period is expected.
- The sampling crew was accompanied by a geologist, as a result of which new showings of copper mineralization were discovered in the southern section of the grid. These new mineralized occurrences do not appear to have been previously sampled.
- In these new mineralized occurrences, green and blue copper oxides are hosted in an intermediate to mafic volcanic sequence, which alteration assemblage consists of epidote-calcite and specular hematite. Oxidation of a disseminated a steel gray coloured mineral appears to be the source of the copper oxides mineralization.
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. San Marco currently has 64,716,276 issued and outstanding shares.
On behalf of the Board of Directors:
Robert Willis, P. Eng.
President & CEO
For further information, contact:
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.
San Marco Provides Exploration & Drill Preparation Update on the 1068 & Chunibas Projects