VANCOUVER, BRITISH COLUMBIA, Sep 29, 2014 (Marketwired via COMTEX) — San Marco Resources Inc. (SMN) ("San Marco" or "the Company") herein provides an interim report on its initial phase of confirmatory and early stage exploration work on the Cuatro de Mayo Project in eastern Sonora State, Mexico and concludes, based on its field observations to date, that additional reconnaissance level and follow-up prospecting and sampling are warranted.
San Marco geologists made numerous field visits to the Cuatro de Mayo property over the past several months to confirm the location of certain previously identified mineral showings. The purpose of this reconnaissance level evaluation was to determine which showings warrant additional sampling and prospecting aimed at delineating their dimension, continuity and mineralized grade. Significant areas of the Cuatro de Mayo property remain to be evaluated. However, based on promising early observations as well as ease of accessibility, the El Valle zone received additional follow up work in the past several months consisting of more detailed prospecting and sampling. Details are as follows:
The El Valle target is located in the CdM Central concession block (map available atwww.sanmarcocorp.com). The goal of the Company's initial investigation at El Valle was to confirm the presence of a previously-identified gold-bearing shear zone, collect samples across the shear zone, and trace its strike extent. The El Valle shear zone was located and traced for several hundred meters. It remains open in both directions. This shear zone strikes northwest and occurs at the contact between two volcanic units (an andesite agglomerate on the footwall and a volcanoclastic unit on the hanging wall). While the true width of the El Valle shear zone is yet unknown and is expected to vary along strike, its width on surface has been estimated to be up to 80 metres and it appears to dip to the northeast. Most importantly, where it has been sampled, the El Valle shear zone is highly oxidized and no sulphides have been observed.
San Marco initially collected semi-continuous rock channel samples from outcrop exposed in two creeks, 400 metres apart, that cross cut the shear zone. Results are as follows:
Creek 1: 18.1 metres averaging 0.43 g/t gold including 12.0 metres averaging 0.57 g/t gold near the western contact, and 14.2 metres averaging 0.90 g/t gold near the eastern contact. Approximately 10 metres of lower grade gold exists in the center section of the shear.
Creek 2: 9.1 metres averaging 1.0 g/t gold near the western contact. Additional sampling to the east was curtailed due to alluvium covering the sides of the creek.
These initial results as well as the apparent strike and width of the El Valle target prompted San Marco to undertake more systematic trenching across the shear zone. Four trenches were dug by hand and backhoe into highly altered and oxidized volcanic and volcano-sedimentary rocks, to a depth of up to 3 metres below surface. In some minor areas the overburden was too deep for the backhoe to reach the shear structure. The trenches range in length from 40 to 120 metres and cross the shear zone approximately perpendicular to its strike and well into its footwall/hanging wall contact zones. Rock channel samples were collected continuously along the length of each trench (except where the overburden depth prevented sampling), which will provide a more accurate evaluation of the mineral potential of the El Valle shear zone. Results from the El Valle trench sampling are pending and will be released promptly when available.
Robert Willis, CEO of San Marco states "While we are only at the very early stages of exploration at Cuatro de Mayo, we are excited by what we see on the property so far. We were initially attracted to this project by its proliferation of known mineral showings coupled with little to no previous exploration. We have been able to confirm the presence of many of these showings, and have yet to visit many others. We continue to see potential at Cuatro de Mayo and are excited to explore this property further."
Cuatro de Mayo Background
The Cuatro de Mayo property comprises 18,564 hectares in three claim areas located approximately 160 km east of Hermosillo, Mexico; CdM Central (seven concessions), CdM East, and CdM South (one concession each). Numerous gold, silver and base metal showings and historic workings are known to occur in the Cuatro de Mayo property and surrounding area. These showings represent a variety of deposit types including epithermal gold and silver, structurally controlled stratabound gold, CRD-type (mantos, skarns) silver-lead-zinc showings, and mesothermal silver showings. Additional details, including the Cuatro de Mayo option terms, are provided in San Marco's news release dated May 14, 2014.
About San Marco
San Marco Resources Inc. is a Canadian mineral exploration company with a current portfolio of four promising properties in mining-friendly Mexico and an aggressive project generation program focused on high-calibre, low-opportunity cost projects. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.
National Instrument 43-101 Disclosure
The technical information contained in this document has been verified, and 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.
Samples discussed in this document were prepared for assay at ALS Chemex Lab in Mexico and assayed at their facility in Vancouver, BC. Assay methodology is as follows. A 30 gram split is analyzed for gold, using the Au-AA23 method. Sample results greater than 10 ppm are re-assayed, using AA23 fire assay and gravimetric finish. For silver, copper, lead and zinc, a multi-element, four acid digestion (ME — ICP 61) method is used. For initial assays of silver greater than 100 ppm, copper, lead and zinc greater than 10,000 ppm (over limits), the OG62 method is used for re-analysis. Blanks and certified standards are inserted into the sample stream as part of San Marco's quality assurance and control program, which complies with National Instrument 43-101 requirements.
Forward Looking Information
Information set forth in this document includes forward-looking statements, such as: potential exploration plans and programs for the Cuatro de Mayo project; and, the possibility of acquiring additional exploration projects. 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. For instance, the execution of any exploration programs planned by the Company will be dependent upon the availability of both human and financial resources, both of which are presently limited. 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 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.
Contacts: San Marco Resources Inc. Robert D. Willis CEO 604-568-5951 604-813-2606 (FAX) [email protected] San Marco Resources Inc. Barbara Henderson Investor Relations Officer 604-568-5951 604-789-7689 (FAX) [email protected]
SOURCE: San Marco Resources Inc.