Vancouver, B.C. — September 10, 2012: San Marco Resources Inc. (SMN: TSX-V) has received geochemical and geophysical results from continuing exploration at the Angeles property, Sonora State, Mexico. Underground workings, apparently 90 — 100 years old have been accessed, however most areas of previous mining activity have collapsed. At the end of one short inclined shaft, geologists were able to sample the mineralized structure (massive hematite with malachite and chrysocolla) approximately 70m below surface that was not mined in the past. Results include:
· 8.46 g/t gold; 43.0 g/t silver; 1.2% copper; 2.1% lead and 0.32% zinc over 1.4m
The hanging wall of the fault structure (fractured hematite cemented breccia with micro veinlet’s) appears to be 3 — 4 m wide in the area, however only 1m could be sampled safely. Results are:
· 3.27 g/t gold; 20.2 g/t silver; 0.55% copper; 0.41% lead and 0.20% zinc over 1m
It is interesting to note that as previously reported (San Marco news release dated June 18, 2012), fourteen randomly taken dump samples that are presumed to be the waste rock from the hanging wall averaged:
· 3.32 g/t gold; 50.0 g/t silver; 1.0% copper; 2.0% lead and 0.5% zinc (average of the 14 samples)
In addition to the underground access work, 33 line km of ground magnetometer work was carried out. Results clearly show 3 distinct high mag. targets.
West Zone: (up to 2.0 km of strike) along the surface exposure of old workings, which are 2 — 15m in width, averaging about 5m. Two mag. anomalies sub parallel to the main fault structure indicate additional targets. Surface sampling results previously reported, news release dated June 18, 2012.
Center Zone: of particular interest is a moderately high mag. anomaly directly below a highly oxidized, fractured and altered zone measuring 150m x 200m. It is speculated that this could be the surficial expression of a buried intrusive diatreme, possibly the conduit for the mineralized hydrothermal breccia.
East Zone: location of most of the old underground workings, tailings, dumps and remnants of a milling facility. These workings are coincident with two distinct easterly trending linear mag. anomalies. The mineralized fault structure is 5 — 10m wide on surface, but high mag. anomalies indicate possible mineralized structures across 150 — 200m at depth.
Additional detailed analysis of the magnetometer results are currently being carried out. This work will give San Marco geologists a better understanding of the vertical extent of the mag. anomalies.
Detailed mapping and sampling is ongoing in support of drill target identification.
The Board of Directors has appointed R. S. (Tookie) Angus as Chairman of the Board and Julie Capstick (CFO) as Secretary. Michael Mallard, former Vice-President and Secretary, will continue as a part-time consultant to the Company. San Marco Resources thanks Mike for his contributions and wishes him success in his future endeavours.
The technical information contained in this press release has been verified, and this news release has been approved, by San Marco’s President, 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.
For further information, contact:
Robert D. Willis
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.