Vancouver, B.C. – December 20, 2018: San Marco Resources Inc. (SMN: TSX-V) (“San Marco” or the “Company”) announces that diamond drilling has been completed at its 100% owned Chunibas copper/silver project, located in Sonora State, Mexico (the “Project”). San Marco and a wholly-owned subsidiary of Antofagasta plc (“Antofagasta”) have entered into an earn-in agreement (the “agreement”) to jointly explore and drill test several copper-silver rich mineralized targets mapped on surface. Antofagasta has funded all exploration during the current Phase I exploration program.
The primary focus of this drilling has been to confirm the down-dip and along strike projections of alteration, mineralization and receptive rock units seen on surface. A summary of the drilling details and geological highlights to date include:
- Approximately 1640 meters of core distributed over 7 drill holes.
- 5 holes tested 1.2 km of strike in the NW – SE mineralized corridor and 2 holes tested approximately 400m as a step-out, along one NE – SW section which is perpendicular to the corridor.
- Receptive rock units from surface had been confirmed.
- The main host rock units are andesitic volcanic breccias as well as porphyritic andesites.
- All drill holes reported several intervals with visible copper sulphide mineralization, present as fine grained disseminations and cavity fillings of bornite, chalcocite and trace chalcopyrite. Minor copper oxides occur as fracture fillings.
- Mineralization tends to be erratic in these types of geological systems and is expected to be so in drill core samples.
- Assay results of all drill holes will be reported once they are received and analyzed by the Company.
San Marco CEO Christian Grijalva stated: “We are pleased to have completed Phase I drilling at Chunibas in a completely safe manner and somewhat under budget. Drilling has confirmed that the Chunibas geological model is typical of that of copper-silver “Manto-Type” systems known to exist in northern Chile.”
* 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 Espiritu SMR, Mariana and 1068 Projects in Sonora State.
San Marco actively pursues strategic project generation program focused on high-caliber, low acquisition cost opportunities in the north-western 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 issued and outstanding shares.
On behalf of the Board of Directors,
Christian Grijalva, B.Sc.
Chief Executive Officer
For further information, contact:
Direct: (604) 646-1877
National Instrument 43-101 Disclosure
This news release has been approved by San Marco’s Co-Chairman, 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.
San Marco 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.