Vancouver, B.C. September 28, 2020: San Marco Resources Inc. (TSX-V: SMN) (“San Marco” or the “Company”) announces results from its summer exploration program and commencement of an induced polarization (IP) geophysical survey at its 100% controlled Buck gold and silver property in central British Columbia, Canada.
The 22,000 hectare Buck property is located approximately 12 kilometres (km) south of Houston, British Columbia, via an all-weather access road. It has excellent nearby infrastructure and allows for year round exploration. Phase 2 drilling is currently underway on the Buck property (see SMN news release dated September 8th, 2020).
Highlights
- A 700 by 300 metre (m) multi-element soil anomaly, open to the north, was defined at Buck North centered one kilometre north of historic drilling.
- Grab samples returned assays of up to 13.3 grams per tonne (g/t) Au and 44.1 g/t Ag from the Trench zone, and 11.1 g/t Au with 5.9 g/t Ag from the Horseshoe zone, confirming the presence of higher grade epithermal-related mineralization throughout the Buck property.
- A 20 line-km IP geophysical survey has commenced.
- Five HQ diamond drill holes are now complete.
Rock Geochemistry
A program of geological mapping and rock sampling was completed in preparation for drilling. A total of 104 grab samples were collected from throughout the Buck property (Figure 1). Sampling was focused primarily on the Buck breccia complex and the Buck structural corridor (see SMN news release dated August 6th, 2020).
Table 1. Selected Grab Samples
Figure 1. 2020 Grab Sampling
Systematic sampling of mineralized, northwest-striking structures along Bob creek, which forms the core of the Horseshoe zone, suggest that low-angle shear-zones carry higher-grade mineralization (sample A0603848; Table 1) and that structural intersections with high-angle structures are also favorable hosts for gold mineralization. The orientations of these structures and intersections helped inform the orientations of some of the current Phase 2 diamond drill holes (see SMN news release dated September 8th, 2020).
The Trench zone comprises an area of historic trenching covering a footprint of approximately 200 by 220 m where local near-continuous Au mineralization has been reported from chip sampling and local historic drilling (see SMN news release dated June 23rd, 2020). The zone is underlain primarily by quartz-plagioclase porphyritic dacite and polymictic breccia that hosts clotted and vein-controlled pyrite-sphalerite mineralization. Sampling of the trenches have returned many >1 g/t Au samples which confirm historic data and also suggests a strong structural control. Additional structural mapping focused on the higher-grade areas (sample A0603833; Table 1) in the Trench zone is warranted in order to refine drill targets.
The Bob zone is 1.5 km west of the Horseshoe zone and consists of near-vertical, northwest striking quartz-pyrite-arsenopyrite-sphalerite shear-hosted veins and vein-breccias that crosscut andesitic lapilli tuff which have been exposed in historic adits and workings. These veins and vein breccias (2 to 50 cm) have returned assays of up to 633 g/t Ag (sample R266334; Table 1). The extent of these veins is not presently known and the area warrants detailed follow-up.
Grab samples are used to provide evidence of mineralization, however, grab samples are selective in nature and the resulting assays from the samples may not be representative of all mineralization on the property.
Soil Geochemistry
A recently completed 26 line-km soil grid consisted of 679 samples collected from 24 north-south lines spaced 25 to 100 m apart with samples spaced 25 to 50 m along the lines. The center of the grid is located one km northwest of the Horseshoe zone and one km north of the Trench zone where the bulk of historic drilling has taken place (Figure 2). Within the northern grid, a 700 by 300 m multi-element soil anomaly (Zn, Ag, As, and Pb) has been identified. This anomaly is open to the north. The east-west trending, multi-element anomaly along Bob Creek (Figure 2) is interpreted to have been transported and therefore limited significance is placed on the anomaly.
Figure 2. 2020 Soil Sampling
Geophysical Survey
A 20 line-km IP geophysical survey has now commenced. This north-south oriented survey consists of nine lines spaced 200 m apart (Figure 2). The survey footprint covers the Buck breccia complex as well as the recently defined soil-anomaly at the Buck North zone. This survey will have a significantly deeper depth of investigation compared to historical 1980’s-vintage surveys and the data will be used to refine the current exploration model.
Health and Safety
The Company’s exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. San Marco has a rigorous infection prevention and control protocol in place to protect the health of employees, contractors, as well as surrounding communities in which we work.
Quality Assurance
All sample assay results have been monitored through a quality assurance / quality control (QA/QC) program. Samples were shipped in sealed and secure bags to the ALS Global laboratory in North Vancouver, B.C. for analysis. Samples were prepared using standard preparation procedures. Soil samples were analyzed for 53 elements by ICP-MS on a 25 gram sample using an aqua regia digestion (method AuME-ST43). Rock samples were analyzed for 48 elements by ICP-MS on a 0.25 gram sample using a four acid digestion (method ME-MS61L). Gold was analyzed by fire assay with an AAS finish (method Au-AA23). Over limit gold (>10 ppm) was re-analyzed by fire assay using a gravimetric finish. Over limit silver (>100 ppm) was re-analyzed using a four acid digestion and ICP-AES finish. Over limit zinc (> 10,000 ppm) was re-analysed using a four acid digestions and ICP-AES finish. ALS Global is registered to ISO / IEC 17025:2017 accreditations for laboratory procedures.
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 is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many former and current operating mines. The Company’s portfolio also includes 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
Nancy Curry
Corporate Communications
Tel. 778-588-9606
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
Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Except as required by applicable securities laws and regulation, San Marco Resources Inc. (SMN) disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
