VANCOUVER, BRITISH COLUMBIA, Jan 15, 2013 (MARKETWIRE via COMTEX) — San Marco Resources Inc. /quotes/zigman/489146 CA:SMN -3.33% has received the preliminary results of a petrographic study completed on a large 1 meter x 2.5 meter panel sample taken from the old Tompiate underground workings (100 meters below surface) on the Angeles property in Sonora State, Mexico.
As reported in News Release dated November 27th, 2012, a channel sample was taken across a 1 meter wide massive hematite structure in the old underground workings and assay results were:
— 5.92 g/t gold; 59.0 g/t silver; 1.34% copper and 5.43% combined
The panel sample, taken from the same location as the above channel sample, was sent to Laboratorio Technologico Metalurgico, a private lab in Hermosillo, Mexico, and was prepared for initial petrographic studies. The primary purpose of this study was to try to identify minerals of economic interest, since only copper, lead and zinc oxide minerals are recognizable in hand samples from underground or on surface. A representative cut of this sample was sent to ALS Chemex for assaying and results are:
— 11.20 g/t gold; 54.8 g/t silver; 1.98% copper and 4.21% combined
Early mineralogical results indicate native gold exists as very fine particles (free and associated with tiny quartz crystals), also copper (chalcopyrite and copper oxides chrysocolla and malachite), lead (galena and Pb oxide wulfenite) and zinc (sphalerite and Zn oxide smithsonite).
The Company’s Chief Executive Officer, Robert Willis noted: “We find it very interesting to recognize relative higher grades in larger samples. Even though the gold appears to be very fine, a larger sample size may be more representative of in situ metal values.”
The Company’s geologists have discovered a second adit that appears to access the Angeles structure, which is sub-parallel to, and approximately 50 meters south of the Tompiate structure. Sampling of the mineralized structure and footwall breccia is complete and assay results are expected to be reported within 2 weeks. Mineralization appears to be very similar to that observed in the Tompiate underground workings, as well as surface exposures.
Sampling of several addition structures elsewhere on the property is complete, assays are pending.
Of particular interest is an area of highly oxidized hematitic schists approximately 50 meters in width, located between the Tompiate and the Angeles structures. Initial sampling indicates gold grades in the range of 0.3 – 0.8 g/t. Further surface exploration, as well as Phase I drilling, will test these zones.
The technical information contained in this press release has been verified, and this news release has been approved, by San Marco’s CEO, Robert D. Willis, P. Eng. a ‘qualified person’ for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
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 Resources Inc.
Rick Peterson, Corporate Finance Consultant
604-913-9419 or 604-868-3164
CAN (Toll Free): 1-888-888-9122
USA (Toll Free): 1-888-888-9123
San Marco Resources Inc.
Robert D. Willis, CEO
604-568-5951 or 604-813-2606